Is there any info on UniRenko bars?

[Newtrader101]

Hello,
I wanted to know if there was any information on UniRenko bar types?

I have downloaded and installed the addon and have been testing the settings, but I wanted to understand a little bit more about what makes the UniRenko bars different than a typical Renko bar and how adjusting the settings impact the bars printed on the chart? I also wanted to know if there was some way I could add a bar counter to my chart while using this bar type?

Is there a post that you can point me too so that I may read a little bit more about his bar type?
Thank you.

[NinjaTrader_ChelseaB]

Hello Newtrader101,

This is a conversion of a script made for NinjaTrader 7.

The original author, monpere, left notes on the NinjaTrader 7 version page description linked from the end of the description on the NinjaTrader 8 page.

"This is my implementation of a Universal Renko bar type. It allows the user to choose when the bar closes in the direction of the previous bar (Trend), and when it closes in the direction against the previous bar (Reversal).

This allows you to tailor the bar to behave specifically how you want it in ways that hopefully may enhance your particular trading style. As an example, if I am a reversal trader, entering on reversal bars, and putting my stop behind the entry bar, I can choose trend and reversal settings that minimize the size of reversal bars, and therefore optimize my stop sizes, etc."

https://ninjatraderecosystem.com/use...renko-bartype/

You may want to consider contacting the original author for more information.



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