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Better Renko Bar Size (vs. 5 min bar)
Started:April 15th, 2012 (02:17 PM) by TrendTraderBH Views / Replies:1,117 / 2
Last Reply:April 15th, 2012 (03:35 PM) Attachments:3

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Better Renko Bar Size (vs. 5 min bar)

Old April 15th, 2012, 02:17 PM   #1 (permalink)
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Better Renko Bar Size (vs. 5 min bar)

Although the comparison is hard to make, what estimated Better Renko size would be analagous to 5-min bar trading? Or in other words, what is the smallest Better Renko size folks would suggest trading on instruments like CL, TF, and/or 6E?

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Old April 15th, 2012, 02:17 PM   #2 (permalink)
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Old April 15th, 2012, 03:35 PM   #3 (permalink)
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TrendTraderBH View Post
Although the comparison is hard to make, what estimated Better Renko size would be analagous to 5-min bar trading? Or in other words, what is the smallest Better Renko size folks would suggest trading on instruments like CL, TF, and/or 6E?


Hmmm.. 2 different questions as far as the smallest suggested size vs what's comparible to a 5min chart. As far as compatible goes.. What's the avg range of a 5min bar in crude? For example, crude can be a beast of an instrument, but if I look at last Fri's 5min bar chart, I can see that the avg range of those bars vary between, oh lets say 8 and 20tk.. I'll pick 13 for a constant here just for conversation.. Once I determine that, I'll divide that in half and start from there..


Here is a 5min Bar Chart


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Here is a 6BRBB


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And here is an 8BRBB


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I don't use the Better Renko, but have converted to a hybrid version.. but here nor there, I personally wouldn't look at anything smaller that 6tk renko's on an instrument like crude.. Awful lot of noise with anything smaller, but just my opinion.. What you pick should have alot to do with which one you see price action on better, and then there's the risk part as well.. think risk first and foremost!! any stops smaller than the range of one bar (on small timeframe charts) is kind of trading in the noise.. not that I don't do that here and there.. but just say'n.. and whatever size renko you use, remember it takes double that size to actually get a reversal candle.. Not sure any of this helped, but wish you the best of luck!!!







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