Automated renko

[ntpro]

Is it possible to create an automated strategy using renko bricks and/with indicators? I've looked around for a tutorial but couldn't find any.

[NinjaTrader_Matthew]

Hi,

Thank you for your post.

Yes this is absolutely possible. Renko is a type of bar, similar to a minute/tick bar. This means you can code your strategy to follow a certain set of rules, and when starting the strategy, you'll simply want to select the "Renko" bar type from the strategy parameters:

http://www.ninjatrader.com/support/helpGuides/nt7/running_a_ninjascript_strateg2.htm

Or you could simply add the strategy to an existing Renko chart you have on your workspace:

http://www.ninjatrader.com/support/helpGuides/nt7/running_a_ninjascript_strateg2.htm

Doing so will ensure any logic or indicator values being passed through will use the Renko bar to for it's calculations. For example, using High[0] would give you the current high of the Renko bar, given you have selected Renko when starting the strategy.

[arbuthnot]

Is it possible to create an automated strategy using renko bricks and/with indicators? I've looked around for a tutorial but couldn't find any.

Matthew's given you great advice here.

May I refer you to this thread I started:

http://www.ninjatrader.com/support/forum/showthread.php?t=68224

The basic point is that Renkos are great for getting into trades but, as I think is demonstrated in the thread, (and, as you'll see, I'm not alone in this opinion) lousy for working trades and for exits.

Please see my post on 08-20-2014 in that thread in which I give the two best ways of trading with Renkos.

To take up your other point about using indicators, Renko charts are very smooth (the price you pay for the price having to travel back two whole bars for a reversal) but most oscillators, especially, don't add much more information than you see on the chart.

I'm sure I've found a few Renko strategies on Youtube.

[ntpro]

Hey Matthew,
I'm afraid I'm not very familiar with coding, but I'm willing to learn. I have a strategy that involves three different indicators, which I find too complex to code myself. Would you happen to know where I could find a ninja script tutorial to help me go through the steps necessary.
Thanks.

Hi,

Thank you for your post.

Yes this is absolutely possible. Renko is a type of bar, similar to a minute/tick bar. This means you can code your strategy to follow a certain set of rules, and when starting the strategy, you'll simply want to select the "Renko" bar type from the strategy parameters:

http://www.ninjatrader.com/support/helpGuides/nt7/running_a_ninjascript_strateg2.htm

Or you could simply add the strategy to an existing Renko chart you have on your workspace:

http://www.ninjatrader.com/support/helpGuides/nt7/running_a_ninjascript_strateg2.htm

Doing so will ensure any logic or indicator values being passed through will use the Renko bar to for it's calculations. For example, using High[0] would give you the current high of the Renko bar, given you have selected Renko when starting the strategy.

[NinjaTrader_CalH]

NtPro,

I recommend that you start with the Automated Strategy Development YouTube video.
This is a great starting ground for understanding how to use the basic interface and how NinjaScript Strategies work.

* https://www.youtube.com/watch?v=Maaq...56536A44DD7105

We have a comprehensive help guide that goes through the available NinjaScripts items and even some basic tutorials on creating your own script.

* http://www.ninjatrader.com/support/h...nt7/index.html

Our support forum is a wealth of knowledge from our user base and even includes some reference items on how to code particular items.

* http://www.ninjatrader.com/support/forum/

Lastly, you are always welcome to send in a support request on any items that you may need assistance with.