Setting Renko in Multicharts  [SOLVED]

Questions about MultiCharts and user contributed studies.
trim
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Setting Renko in Multicharts

Postby trim » 09 Jan 2015

I find Multicharts explanation on setting Renko Box Size and Resolution difficult to understand. Would appreciate a users guide to this please.

Erik Pepping
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Re: Setting Renko in Multicharts  [SOLVED]

Postby Erik Pepping » 09 Jan 2015

According to my experience. It is always a fraction or a multiple of the whole first right digit.
Example 1:
Voor Dax future I have set the decimal fraction to 1, so quotes are typical
9050.5, 9051.0 etc.
A set Renko box size to two (Fixed Size). This means in a box fit two whole ticks (9050 and 9051).
So if it moves more then two whole ticks either down or up it will make a new box.
So in this case 9052.

Example 2
Vor EURUSD currency i have set decimal pips to 5 behind the fraction so .
120.00010, 120.00015, etc.
To set a renko box at twenty pips (1 pip being 0.00001) you need to set the renko to
0.00020 , so as a fraction.

Is that clear enough? I could attached some charts and settings.

Erik

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Re: Setting Renko in Multicharts

Postby trim » 09 Jan 2015

Thank you Erik I understand that and will check it out this weekend.

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TJ
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Re: Setting Renko in Multicharts

Postby TJ » 09 Jan 2015

I find Multicharts explanation on setting Renko Box Size and Resolution difficult to understand. Would appreciate a users guide to this please.
THere is an article in wiki explaining the logics behind renko and range bar charts.

trim
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Re: Setting Renko in Multicharts

Postby trim » 09 Jan 2015

thank you TJ, I did see this Wiki however I just couldn't follow the explanation. I will spend some more time this weekend working through this and appreciate the forum's help

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Re: Setting Renko in Multicharts

Postby trim » 09 Jan 2015

Again thank you Erik. I tested using your explanation and it all made sense


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