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FlexRenko

200 bytes added, 16:17, 3 May 2018
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# Select the '''Settings''' tab.
# Select '''FlexRenko''' from the '''Chart Type''' list.
# Select '''Resolution''' for your chart to be based on. It allows you to choose which type of data (for more details see [[Tick, Minute and Daily Data]]) and what detailed resolution will be used for building the boxes.<br><div style="background-color: #E3FBE5;">'''Note: MultiCharts 8.0 implementation:''' in real-time no matter what resolution is specified, each next box of the specified size will be plotted once previous box is finished. '''MultiCharts 8.1 and any further version implementation:''' depending on the selected resolution the current box may be huge in real-time and not match your box size, but when the selected in resolution bar (1 day for instance) is closed, you'll see a lot of boxes of the specified box size instead of that huge one.</div>
# Enter the '''Box Size''' in the corresponding boxes.
# Select whether you want the box size based on '''Points''' or '''Percents''' from last box open/close. <br><div style="background-color: #E5F6FF;">'''Example:''' If the previous box is green and current price is moving upwards, then the point/percent value is calculated based on previous box close (from the right top corner of the box). If the previous box is red and current price is moving upwards, then the point/percent value is calculated based on previous box open (from the right top corner of the box). If the previous box is green and current price is moving downwards, then the point/percent value is calculated based on previous box open (from the right bottom corner of the box). If the previous box is red and current price is moving upwards, then the point/percent value is calculated based on previous box close (from the right bottom corner of the box).</div># Specify '''Trend Offset''': a standard Renko bar has a Trend Offset of zero, which means that when a new bar is formed in the current trend direction, the Renko Open value of the new bar is equal to the Renko Close value of the prior bar.When you specify a non-zero value for the Trend Offset, the Renko Open value is offset inside the prior bar by the specified number of ticks. This means that the price of the symbol no longer has to move as far to form a new bar in the trend direction.<br><div style="background-color: #E3FBE5;">'''Note:''' Trend Offset must be greater than or equal to zero and less than the Bar Size.</div># Specify '''Reversal Offset''': a standard Renko bar has a Reversal Offset of zero, which means that when a new bar is formed that reverses the current trend direction, the Renko Open value of the new bar is equal to the Renko Open value of the prior bar. When you specify a non-zero value for the Reversal Offset, the Renko Open value is offset from the prior bar Open by the specified number of ticks. This offset causes the new Renko bar to overlap the prior Renko bar. This means that the price of the symbol no longer has to move as far to form a new bar to reverse the trend direction. <br><div style="background-color: #E3FBE5;">'''Note:''' Reversal Offset must be greater than or equal to zero and less than the Bar Size.</div>
# Check '''Show Wick''' box to see wicks of each bar, demonstrating how the price was moving before the bar close. '''Note:''' Wicks will not be shown on the chart until the style is changed to [[:Category:Chart Style#Candlestick Chart|Candlesticks]].
# Uncheck '''Show 'Phantom' Bars''' to see gaps between the bars if there was no such price.

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