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FlexRenko
Started:October 27th, 2012 (11:23 PM) by aslan Views / Replies:1,723 / 10
Last Reply:March 7th, 2013 (12:49 PM) Attachments:1

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FlexRenko

Old October 27th, 2012, 11:23 PM   #1 (permalink)
Elite Member
Madison, WI
 
Trading Experience: Advanced
Platform: Sierra Charts, ALT
Favorite Instrument: ES
 
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FlexRenko

There is a new Renko bar type called FlexRenko or Flexible Renko in Sierra (described in this thread:New Renko Function - Flex Renko, Hybrid, Trend Channel)

Looks similar to Pure Logik Ultimate, in that it allows the user to play with how the Renko gets formed when trending or reversing. The examples given show how to mimic RJay's Hybrid and Trend Channel (though I think the trend channel is a little different, but pretty close).

It is a built in bar type, so things like cumulative delta just work (assuming your feed supports it). The other part I like is that the bars are maintaining the real underlying data, so should be pretty good for back testing, similar to BetterRenko.

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Old October 29th, 2012, 09:23 PM   #2 (permalink)
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aslan View Post
There is a new Renko bar type called FlexRenko or Flexible Renko in Sierra (described in this thread:New Renko Function - Flex Renko, Hybrid, Trend Channel)

Looks similar to Pure Logik Ultimate, in that it allows the user to play with how the Renko gets formed when trending or reversing. The examples given show how to mimic RJay's Hybrid and Trend Channel (though I think the trend channel is a little different, but pretty close).

It is a built in bar type, so things like cumulative delta just work (assuming your feed supports it). The other part I like is that the bars are maintaining the real underlying data, so should be pretty good for back testing, similar to BetterRenko.

This looks interesting

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Old February 20th, 2013, 06:06 PM   #3 (permalink)
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Can anyone confirm - Whether FlexRenko in Sierra has - True Open & Close?

Thanks

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Old February 20th, 2013, 10:26 PM   #4 (permalink)
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Yes it does.

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Old March 4th, 2013, 09:10 PM   #5 (permalink)
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Super-Imposing Actual Price Bars on top of Renko Bars in Sierra

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Does anyone know if this is possible?

Thanks
JD

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Old March 4th, 2013, 11:10 PM   #6 (permalink)
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You could write a study easy enough, as the OHLC arrays are all valid. The High/Low are generally correct already, except gaps could affect them.

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Old March 7th, 2013, 09:53 AM   #7 (permalink)
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aslan View Post
You could write a study easy enough, as the OHLC arrays are all valid. The High/Low are generally correct already, except gaps could affect them.

Couldnt he just use the Overlay (Candle) study to achieve his desired effect?

I had to do something similar when i was trying to overlay numbers bars bid x Ask over regular candles, didnt work that well though =/

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Old March 7th, 2013, 10:24 AM   #8 (permalink)
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Overlay of Price Bar over Renko Bar

Amnesia
I've added an Overlay Bar but it's based on the Renko Bars I already have so it's just a duplicate.

What am I missing?

Thanks
JD

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Old March 7th, 2013, 11:13 AM   #9 (permalink)
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jdrower View Post
Amnesia
I've added an Overlay Bar but it's based on the Renko Bars I already have so it's just a duplicate.

What am I missing?

Thanks
JD

Hmm, i think you could/should try to make sure that the overlays are copying bars from another chart, ill check into it

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Old March 7th, 2013, 11:22 AM   #10 (permalink)
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I did as you suggested and came up with a range bar chart covering the same approximate real estate as the Renko-Flex chart and did an Overlay (non-sync) with the attached results.

Is this the most accurate I can expect? Was this the best way to do this?

Thanks
JD

Attached Thumbnails
FlexRenko-2013-03-07_1117_usdjpy_3-7-13.png  
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