+1 888 340 6572 GET STARTED
MultiCharts Project Management
previous_open_issue.png
Go to the previous open issue
previous_issue.png
Go to the previous issue (open or closed)
star_faded.png
Please log in to bookmark issues
feature_request_small.png
Open Feature request MC-1649

Allow Renko bricks to have consistent starting values
action_vote_minus_faded.png
13
Votes
 action_vote_plus_faded.png
next_issue.png
Go to the next issue (open or closed)
next_open_issue.png
Go to the next open issue
Description

I suggest the addition of a setting for Renko charts that forces the first brick of each session to start from multiples of 5 or 10 ticks.
Currently Renko bars start from the first value on the chart. Example: Using tick data, and 10-tick Renko bricks, if the first tick is 91.43 then all subsequent renko bars will close/open at .43, .53, .63, .73, etc. It would be much better of they started at .50, .60, .70, etc, because then the charts would be more reliable for backtesting. Right now, the bricks for a given date will be drawn differently each time if the starting point of the chart is a different date and thus starts from a different tick.
This is problematic because it means that it is possible to backtest the same day with the same signals but get different trades depending on the chart's start date. For example, the shape of a chart becomes different in cases where starting point of .43 would produce an extra high bar at a certain peak, but starting point of .48 produces one less brick (for example) and thus does not trigger a certain trade in one case but does trigger it in another case.
By the way, Sierra chart seems to start all Renko charts from .0, .10 etc by default.

Steps to reproduce this issue

Create a Renko chart and note that the first price of the chart determines the starting point of subsequent Renko bricks.

Comments (2)
icon-mono-settings.png
#0
user-offline.png jese514 (jese514)
May 08, 2014 - 01:22

Here is a discussion thread about this issue: http://www.multicharts.com/discussion/viewtopic.php?f=1&t=46530

#0
user-offline.png MAtricks (MAtricks)
Nov 08, 2014 - 19:13

This feature is a must have. 
I also suggest that we have an input for the starting value. I'd like to have control over that rather than having a hard coded round number.
Maybe a full price? We input a full price where we want the blocks to break from and the blocks form forwards and backwards from that price?

History
sidebar_collapse.png sidebar_expand.png
Issue basics
  • Type of issue
    Feature request
  • Category
    Usability
  • Targeted for
    MultiCharts Future Releases
  • Status
    Confirmed
User pain
  • Type of bug
    Not triaged
  • Likelihood
    Not triaged
  • Effect
    Not triaged
Affected by this issue (2)
People involved
Times and dates
  • Posted at
  • Last updated
Issue details
  • Resolution
    Not determined
  • Severity
    Normal
Attachments (0)
There is nothing attached to this issue
Commits (0)
There are no code checkins for this issue
Duplicate issues (0)
This issue does not have any duplicates