How is build the first renko of each session ? (intraday)

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Automeq
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How is build the first renko of each session ? (intraday)

Postby Automeq » 01 May 2014

I use intraday renko charts on symbol SPY, with attached settings (5 minutes, renko size=0.1, only US regular trading hours and tick "break on session"). All in MC Net version IB, feed IB.

I tried to understad how the first renko brik of the day is built but I can't find any logic.

Please check sessions of April 29th and 30th, which seem not to be consistent.

I tried to find more informtion in manuals and forum but I couldn't. Is it possible to explain the logic used to build the first intraday renko of the day ?

Thanks
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Automeq
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Re: How is build the first renko of each session ? (intraday

Postby Automeq » 04 May 2014

OK, in the meantime I found out that, even if we chose "break on session", MC calculates the first brik(s) (although does not display then) starting at the end of the day before. For some reason it's only displaying the brik referring to the second time periodo of the day (for example, if at 9:35 we have 5 briks and then 2 briks at 9:50, those first 5 briks will not be dispayed and only the ones at 9:50 will show up).

I think this is thus solved (although not much logic).

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Henry MultiСharts
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Re: How is build the first renko of each session ? (intraday

Postby Henry MultiСharts » 13 May 2014

Hello Automeq,

Historical bars of the Renko chart are built using the close price. It means in order to plot the first brick it requires two bar close values to determine the direction of the brick, therefore there will be no brick for the first interval (=chart resolution) of the session.


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