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