by TheEdge » Thu Apr 05, 2012 10:12 am
Apprentice,
I have not been able to create a crash since updating TS2, however if you select Renko bars of 5pips and try and load 120 or more days of data say in the 4 hour time frame it will lock up TS2.
As I said before I think the option to select the look back days would be the fix.
Here are some issues with these and some possible solutions for any one wanting to use these.
Issues First:
These Renko bars are time dependent and they shouldn't be dependent on time. If, you watch the charts and compare these to Candle charts you will see that price often moves more than 5pips (the setting for the Renko Bar) but a new bar doesn't print, new bars only seem to print after the close of the Candle.
A true Renko closes and opens everytime price exceeds the default value, if the Renko is set at 5pips than at 5pips the first bars closes and the next bar opens.
It seems these are using candle data to to determiner when to open and close. This is not bad except that if a candle goes in your favor say 50pips before closing you would not see this in the renko instead you see price leave your renko bars behind, conversely if price where to move against you wouldn't known it had until the close of the candle. (The Renko3.lua seems to have this problem more so than the Renko2m, but I like the added features of the Renko3 better)
I suggested before that maybe the fxcm team needs to pull the code from strategy trader and add the renko bar as a standard option rather than an indicator.
So the next question is it possible to code this to use tick data with a look back period rather than using the candle data?
Using these renko bars on TS2 as they are now,
I suggest renko2m.lua on a 1minute chart with the Renko set at 5pips, once on the chart zoom out so the maximum data is downloaded from the server this will give results similar to Strategy Trader. Just keep in mind if price moves you will not see the result until the 1minute candle closes.
I have a strategy I think would be good fit for renko bars if the issues can be ironed out.
If not can you guys encode an indicator for Strategy Trader?
Renko2m on left, Renko3 on right
Renko2m and Renko3 Comparison,
It would seem the Renko3 did a better job of showing price closer to the top, but Renko3 seems to allow price to move much farther away before printing bricks.
BUT when compared to Strategy Trader Renko2 does a better job.
As a matter of fact if we set the look back period the same 24hrs. we get almost the exact same price top by .00007 pips.
If you want to use renko bars use Renko2m,
- Attachments
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- Renko2 on Left Renko3 on far Right
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- Strategy Trader and Renk2 and Renko3