From my understandung, Renko bars is just painting based on trendiness, it is like TTMTrend. Range bars are like Volume bars, Tick bars etc. Range bars gives better view on extensive price movements. It is personal preferences, some traders are more sensitive to time, others to price range
Last edited by record100; July 3rd, 2009 at 12:01 AM.
From my understandung, Renko bars is just painting based on trendiness, it is like TTMTrend. Range bars are like Volume bars, Tick bars etc. Range bars gives better view on extensive price movements. It is personal preferences, some traders are more sensitive to time, others to price range
Roonius, I'd like to hear how you describe them. I've heard them called bricks but what is your interpretation of them and how they are built and used?
Mike
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From my understandung, Renko bars is just painting based on trendiness, it is like TTMTrend. Range bars are like Volume bars, Tick bars etc. Range bars gives better view on extensive price movements. It is personal preferences, some traders are more sensitive to time, others to price range
Quote:
Quoting Big Mike:
Roonius, I'd like to hear how you describe them. I've heard them called bricks but what is your interpretation of them and how they are built and used?
Mike
Renko's purpose is to filter out the noise.
It is nothing like TTM trend or tick bars or volume bars.
I just took two screenshots of 5 tick renko and range bars of the same time range.
It's up to you to decide which looks "cleaner
The following user says Thank You to roonius for this useful post:
renko bars are great for filtering noise and keeping you in a longer term trend but as with any form of sampling you are sacrificing signal fidelity and low latency for smoothness so be careful when selecting your sampling frequency (range).
i have a futures strategy which uses roonius' implementation of renko bars with great success ( btw thanks roonius :P )
i find that renko is counterproductive on forex however where there is much more noise, you have to take on too much lag to filter most of it out and then you also miss out on the 'tradeable noise'
on forex i like 'point original' bars, which are basically just range bars without the extra spacing ticks in between.
The following user says Thank You to sefstrat for this useful post:
Need help? 1) If you're losing money then stop with all the indicators. The more indicators you have, the harder you make it for yourself. 2) Keep a journal religiously and be honest with yourself. Study money management techniques. Look to your own actions and not the actions of the market to explain winners and losers. 3) Set goals for yourself that you can reach every day. Make them about how you trade, and not about how much money you make. 4) Have a question? Create a new thread so the community can help.
If you want to support our community, become an Elite Member. I offer free coaching to any Elite Member who puts forth a serious effort.
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