Hi there,
I am examining a variety of trading strategies, including pattern analysis based off large-scale price movements - which I would like to reflect as 500-pip Renko bricks.
When I attempted to do so with Dukascopy, I quickly discovered that their solution drew new bricks every 480 ticks regardless of whether the price moved by the requisite amount or not. In other words, it completely defeated the whole point of Renko bricks altogether - since they are supposed to be drawn when the price has moved by a specific amount, rather than when a given number of ticks has taken place.
My two questions are as follows:
Best,
George
I am examining a variety of trading strategies, including pattern analysis based off large-scale price movements - which I would like to reflect as 500-pip Renko bricks.
When I attempted to do so with Dukascopy, I quickly discovered that their solution drew new bricks every 480 ticks regardless of whether the price moved by the requisite amount or not. In other words, it completely defeated the whole point of Renko bricks altogether - since they are supposed to be drawn when the price has moved by a specific amount, rather than when a given number of ticks has taken place.
My two questions are as follows:
- Will NinjaTrader meet the above requirement, or are such major Renko bricks simply impossible to reflect with any trading software?
- Am I correct in that I am going to need a good tick data feed supplier for backtesting such methodology?
- If yes, will Kinetick meet my requirements?
Best,
George
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