Wick on FlexRenko appearing after bar close  [SOLVED]

Questions about MultiCharts and user contributed studies.
waveslider
Posts: 213
Joined: 16 Oct 2011
Has thanked: 64 times
Been thanked: 20 times

Wick on FlexRenko appearing after bar close

Postby waveslider » 07 Feb 2020

I have trend offset and reversal offset set to "1". "Show wick" "Show real open" and "New bar when exceeded" checked.

When a bar forms that does not overlap the previous bar, upon closing a wick appears that overlaps the previous bar by one tick. Even if price never traded there.

Is this expected behavior?

Thanks

User avatar
TJ
Posts: 7372
Joined: 29 Aug 2006
Location: Global Citizen
Has thanked: 996 times
Been thanked: 2105 times

Re: Wick on FlexRenko appearing after bar close

Postby TJ » 07 Feb 2020

Do you have a screenshot? or diagram?

waveslider
Posts: 213
Joined: 16 Oct 2011
Has thanked: 64 times
Been thanked: 20 times

Re: Wick on FlexRenko appearing after bar close

Postby waveslider » 07 Feb 2020

The screenshot wouldn't really demonstrate it. The wick appears just after the bar closes, and it only happens when there is no overlap of the previous bar.
I can tell you that if you set your chart to 1 tick reversal and 1 tick trend offset, you can easily replicate this. You will not see any bars that do not have at least 1 tick of overlap.
The problem is that this tick sometimes never happened - price never traded there for the duration of that bar.

User avatar
Anna MultiCharts
Posts: 560
Joined: 14 Jul 2017
Has thanked: 42 times
Been thanked: 136 times

Re: Wick on FlexRenko appearing after bar close

Postby Anna MultiCharts » 13 Feb 2020

Hello, waveslider!

“When a bar forms that does not overlap the previous bar, upon closing a wick appears that overlaps the previous bar by one tick. Even if price never traded there” –
This is expected behavior for FlexRenko. FlexRenko is meant to overlap the previous bar by the specified offset. See the picture attached.
It is what makes it different from the regular Renko, where the new bar starts where the previous bar ends (no offset).
Wicks are displayed because of the Show Real Open option.
FlexRenko.png
(26.99 KiB) Not downloaded yet

waveslider
Posts: 213
Joined: 16 Oct 2011
Has thanked: 64 times
Been thanked: 20 times

Re: Wick on FlexRenko appearing after bar close

Postby waveslider » 13 Feb 2020

Ok - I guess this is just for aesthetics then? I can't imagine why you would want something on your chart that does not depict reality (where price actually traded). So the offset setting is the "trend offset" or "reversal offset"?
In this case the wick is appearing in a place where price did not trade during the bar, I am trying to remove that

User avatar
Anna MultiCharts
Posts: 560
Joined: 14 Jul 2017
Has thanked: 42 times
Been thanked: 136 times

Re: Wick on FlexRenko appearing after bar close

Postby Anna MultiCharts » 20 Feb 2020

waveslider,

We’ve filed an improvement for the next versions of MultiCharts that will add an option for hiding the wicks that are formed as a result of the offset in the direction of trend if there were no prices.

waveslider
Posts: 213
Joined: 16 Oct 2011
Has thanked: 64 times
Been thanked: 20 times

Re: Wick on FlexRenko appearing after bar close  [SOLVED]

Postby waveslider » 20 Feb 2020

Thank you - this is very helpful!

User avatar
Anna MultiCharts
Posts: 560
Joined: 14 Jul 2017
Has thanked: 42 times
Been thanked: 136 times

Re: Wick on FlexRenko appearing after bar close

Postby Anna MultiCharts » 12 Mar 2020

Implemented in MultiCharts 14 Beta 4.


Return to “MultiCharts”