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Renko


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Renko

  #11 (permalink)
 
roonius's Avatar
 roonius   is a Vendor
 
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cory View Post
looking good Jay, how about renko with HL.
ps just saw roonious' comment, first thanks for the tape channel indicator but I have to disagree with your renko comment its purpose is to keep you in trend and filter out the noise. from looking at the new renko i see it has the same purpose and more.

I am not talking about purpose, just definition.

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  #12 (permalink)
 
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 Big Mike 
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TheWizard,

Are you still using Renko bars? I found a lot of value in them in general, but was too accustomed to volume bars for my large chart to make the switch. I was very excited about them in the beginning but there were a too few many times where the extra lag was too much.

Maybe I was not using them in the best manner -- placing them on my biggest chart. Maybe due to their extreme noise reduction + a big chart is not the best combination. Something to consider.

I wonder how others are using them?

Mike

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  #13 (permalink)
 
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 TheWizard 
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Big Mike View Post
TheWizard,

Are you still using Renko bars? I found a lot of value in them in general, but was too accustomed to volume bars for my large chart to make the switch. I was very excited about them in the beginning but there were a too few many times where the extra lag was too much.

Maybe I was not using them in the best manner -- placing them on my biggest chart. Maybe due to their extreme noise reduction + a big chart is not the best combination. Something to consider.

I wonder how others are using them?

Mike

Mike,
No. Gave up on them. Noise reduction was the temptress there, but I didn't like not knowing where price was at any given time. I developed the Holy Grail system (I'm sure you've been keeping up on the thread. Made some enhancements, Rjay made / suggested some today, which I implemented & posted to the thread along with the chart template. Working quite well. Probably won't return to Renko, but I was intrigued by it.

After all, it's what you learn AFTER you know it all, that counts!
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  #14 (permalink)
 
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 Big Mike 
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TheWizard View Post
Mike,
No. Gave up on them. Noise reduction was the temptress there, but I didn't like not knowing where price was at any given time. I developed the Holy Grail system (I'm sure you've been keeping up on the thread. Made some enhancements, Rjay made / suggested some today, which I implemented & posted to the thread along with the chart template. Working quite well. Probably won't return to Renko, but I was intrigued by it.

Thanks for the update. Renko shouldn't be used as your only bar type, you should always have multiple time frames/charts open and. Just like Heiken Ashi bars have value, but can't reliably be used to determine price hi/lo on a certain bar and would require a unaltered bar type of some sort.

Mike

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  #15 (permalink)
 
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 RJay 
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FYI,

I may not know when to give up.

I am still doing research on a range chart that builds Renko bars tick by tick.

I can see it in my imagination.

Learning how to program it is a killer.

Persistance will pay off.

Keep your fingers crossed.

RJay

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  #16 (permalink)
 
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 TheWizard 
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RJay View Post
FYI,

I may not know when to give up.

I am still doing research on a range chart that builds Renko bars tick by tick.

I can see it in my imagination.

Learning how to program it is a killer.

Persistance will pay off.

Keep your fingers crossed.

RJay

Rjay, Thanks for all you efforts! Please let me know (if) when you succeed. I'd love to give it a test run.

After all, it's what you learn AFTER you know it all, that counts!
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  #17 (permalink)
 
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 cory 
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Quoting 
...
Maybe I was not using them in the best manner -- placing them on my biggest chart. Maybe due to their extreme noise reduction + a big chart is not the best combination. Something to consider.

I wonder how others are using them?

Mike

you hit the nail right on the head, try smallest instead the biggest here is renko on .25 range chart.
https://www.sierrachart.com/userimages/upload_2/1248842619_94_UploadImage.png

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  #18 (permalink)
 
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 topsteprs 
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Check out this version for Renko that updates the last bar:

Speculator Ed's Blog: Ed's Renko Indicator

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  #19 (permalink)
 
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 cory 
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point-o looks great.

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  #20 (permalink)
 
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 RJay 
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cory View Post
point-o looks great.

PointO is available in the downloads - misc section on this forum.

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