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Renko Atr

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  • NinjaTrader_PaulH
    replied
    Hello bundi404,

    Thanks for your post and welcome to the NinjaTrader forums!

    The ATR indicator will produce a plot whose value is the price difference of the average true range over the period selected. You can convert the price value to ticks by dividing the ATR price by price/tick. This would then be the average ticks to use in setting the brick size of the renko bar.

    Example: The Instrument CL (crude oil) price per tick is 0.01 ATR(14) of a 6 renko chart at this moment is 0.0744.

    0.0744 / 0.01 = 7.44 You could then set the brick size to be 7 (has to be a whole number).

    Leave a comment:


  • kyamato
    started a topic Renko Atr

    Renko Atr

    Hi,

    I know other platforms allow Renko charted to be automatticly determined based on ATR.

    Since this doesnt seem to be available in NT, does anyone know how I can do the manual calculation myself?

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