Renko (another version)

[stephenszpak]

I've looked at Renko charts lately. There is of course no
overlap using this charting method. I was wondering if
anyone had ever seen a version of Renko where there
was indeed overlap.

Maybe a single chart that used a
6 tick and 3 tick Renko composite. I'm just wondering
if there was a side by side way of displaying Renko.

[stephenszpak]

I think it might be possible to improve on the standard Renko chart.
(comments welcome, but I'll bet I still don't get Renkos)

If, for example, we have a down bar and the price retraces 1/2 way
up the length of the bar, and then another 1/2 bar...wouldn't this be
a way to create Renko charts with a 50% overlap on some of the bars?
All bars would still be the same length of course (ie. x ticks vertically)

[NinjaTrader_Ben]

Hello,

I am sure you know that Renko's are not supported by default with NT, so I can't assist you with them. I will allow some fellow traders post and see if they can assist you. Sorry.

[RJay]

I think it might be possible to improve on the standard Renko chart.
(comments welcome, but I'll bet I still don't get Renkos)

If, for example, we have a down bar and the price retraces 1/2 way
up the length of the bar, and then another 1/2 bar...wouldn't this be
a way to create Renko charts with a 50% overlap on some of the bars?
All bars would still be the same length of course (ie. x ticks vertically)

Hi stephenszpak,

A while back, I developed what I call RenkoMedianBars. It did have a half bar overlap. I did have some problems with it. The project got shelved.

There is a positioning problem placing the bars on the chart that eluded me then.

NT tends to get a little excited every time they find out I'm playing in the Type directory again.

This is what the unfinished chart project looks like.

RJay

[stephenszpak]

RJay

Yes, this seems quite useful. I wish I could program stuff.
I seem to be somewhat dim in such matters. If you post it
let me know (thanks).


If you have a 50% overlap, my theory
is that a stoploss order doesn't need to be X ticks away,
only X/2. Though maybe that isn't exactly right...still it
should be less than X ticks I suppose.

{I'm trying to write a strategy based on Renkos. If you
have seen generic Renko code and have the time it'd
be great if you post it or provide a link. I have Renko
bars in NT but I'm not sure if I can access the code to them.}


I also came across what someone
calls Rendle Charts. It seems to be a Renko with the gaps
between the bars filled in with neutral colored fake bars.
Doesn't seem too important to me. Here is the link if there
is great interest to anyone.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=88637&perpage=6&highlight=renko&pagenumber=2