Renko chart issue & question

Questions about MultiCharts and user contributed studies.
PD Quig
Posts: 186
Joined: 27 Apr 2010
Location: San Jose
Has thanked: 65 times
Been thanked: 10 times

Renko chart issue & question

Postby PD Quig » 28 Apr 2019

Issue:

I just created a two data stream chart that includes a 3 range (point) chart as data #1 and a Renko chart as data #2. The Renko bar tails appear not to be calculating properly. You can see from the picture below that the Renko high and low tails do not agree with the 3R chart data. For some reason the tails are off by 1 tick:

Renko_Issue.png
Renko_Issue.png (77.33 KiB) Viewed 139 times


Question:

There are some tradeable behaviors that hold true when Renko bodies open and close on whole numbers that do not work as well when the Renko bar opens and closes on decimals. Short of brute force / manual testing of date ranges, is there any way of forcing Renko bars to open and close on whole numbers?

User avatar
TJ
Posts: 7132
Joined: 29 Aug 2006
Location: Global Citizen
Has thanked: 987 times
Been thanked: 2038 times

Re: Renko chart issue & question

Postby TJ » 28 Apr 2019

My 2 cents:

For trading purposes,
it will be a lot easier to program the Renko logic into your strategy than to rely on the built-in chart style.

YMMV
These users thanked the author TJ for the post:
PD Quig

User avatar
Smoky
Posts: 388
Joined: 03 Dec 2010
Location: Thailand
Has thanked: 65 times
Been thanked: 104 times

Re: Renko chart issue & question

Postby Smoky » 28 Apr 2019

we are waiting many things about Renko :

https://www.multicharts.com/pm/public/multicharts/issues/MC-1649

https://www.multicharts.com/pm/public/multicharts/issues/MC-1331

https://www.multicharts.com/pm/public/multicharts/issues/MC-845



TJ wrote:My 2 cents:

For trading purposes,
it will be a lot easier to program the Renko logic into your strategy than to rely on the built-in chart style.

YMMV


LoL TJ,
my two cents too.
These users thanked the author Smoky for the post:
PD Quig

User avatar
TJ
Posts: 7132
Joined: 29 Aug 2006
Location: Global Citizen
Has thanked: 987 times
Been thanked: 2038 times

Re: Renko chart issue & question

Postby TJ » 28 Apr 2019

Smoky wrote:we are waiting many things about Renko :
https://www.multicharts.com/pm/public/multicharts/issues/MC-1649
https://www.multicharts.com/pm/public/multicharts/issues/MC-1331
https://www.multicharts.com/pm/public/multicharts/issues/MC-845
TJ wrote:My 2 cents:
For trading purposes,
it will be a lot easier to program the Renko logic into your strategy than to rely on the built-in chart style.
YMMV


LoL TJ,
my two cents too.


You have just proved my point.

PD Quig
Posts: 186
Joined: 27 Apr 2010
Location: San Jose
Has thanked: 65 times
Been thanked: 10 times

Re: Renko chart issue & question

Postby PD Quig » 28 Apr 2019

Yeah, I had already coded an indicator that mimics Renko bars years ago. I looked at the out-of-the-box functionality again yesterday because I wanted to add an indicator based on the Renko data stream--particularly bar highs and lows. Oh well. Sorry to hear that it's still not there yet.

Thanks, all.


Return to “MultiCharts”