Renko Chart New Version!

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Re: Renko Chart New Version!

Postby DAVIDR » Mon Jun 06, 2016 7:06 am

Hi, I loaded Renko_Candles_New on my charts and set 5 pip bricks.

However, I noticed that price moved 15 pips in same direction of last brick, and yet no new brick had formed. Clearly there is a problem here. How can I resolve the problem?
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Re: Renko Chart New Version!

Postby manintheplains » Tue Jul 05, 2016 3:41 pm

The best way to see bricks is to set 1min chart and if the price move up or down your setting you will see new bricks but only after 1min.

I don't know if is normal, but on my platform it works pretty good in this way.
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Re: Renko Chart New Version!

Postby Apprentice » Thu Oct 05, 2017 5:31 am

The indicator was revised and updated.
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Re: Renko Chart New Version!

Postby Taskryr » Fri Dec 08, 2017 4:38 pm

Hello,

was the brick size based on ATR ever added to this chart view?

Thanks,
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Re: Renko Chart New Version!

Postby Apprentice » Fri Dec 15, 2017 6:43 am

I do not think so.
Have pointed this task to my development team.
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Re: Renko Chart New Version!

Postby Silverthorn » Thu Feb 22, 2018 8:00 pm

Hi Apprentice,

Can I please have a version of the Renko Bricks that have the range of price movement covered until the next brick is drawn shown as a wick on the brick?

Standard Renko rules to create the bricks (like candle bodies) with the high and low of the trading range that was covered until the creation of the next brick shown as a line behind (wick)

This would act like a proxy trend strength indicator for the Renko Bricks. In a strong trend we would see only wicks extending in the direction of the trend and to the top of the next brick. As you see wicks starting to form on the opposite side of the brick we would consider there to be indecision in the market and the possibility of a stall or reversal.

I hope that is clear.

Thanks.
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Re: Renko Chart New Version!

Postby Silverthorn » Sun Feb 25, 2018 8:13 pm

Hi,

I found an image of Renko Bricks drawn as I was describing above. Hope this makes it clearer.

Renko%20Bricks%20With%20Wicks.png
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Re: Renko Chart New Version!

Postby Silverthorn » Sun Mar 04, 2018 11:34 pm

Thanks for that. Appears to work perfectly. Why is it marked Obsolete?
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