Mean Renko Bars View (Obsolete)

[trendwatch]

Any idea when the view feauture will work properly? It's really of no use if it's not running from tick data. Better to not include it in the software. Really don't want to have to use $h!t mt4. TS2 has much more potential!

[Apprentice]

Unfortunately I can not do much on the Indicator, side.
Tick Data availability is FXCM / TS issue.

[7510109079]

From my side when using the mean renko bars with Tick (T) data, the bars are formed properly and at the correct 'time' i.e. when sufficient pip movement in each direction.

The problem i have is lack of historical data - is this what you were referring to Apprentice, when you mentioned "Server / TS data retrieval limits"??

If i leave the tick chart open for a couple of hours, enough history is generated but if i close the chart and re-open it i only get a default 45mins bar history again (regardless of the pip step used)!

You say use the m1 but this is useless for live trading as the bars only update each minute so if you get a big move, 10 or so bars paint instantly and all at once, when the new minute commences and your entry position is missed.

If this is a data retrieval limit, is it a simple thing for the developers to change or is it more involved than that?

many thx

[Apprentice]

It is Outside is my reach.

[Univest]

Thank you for the Mean renko. Could you please add logicounter for it if possible?
Its very hard to see the upper and lower limit to be hit for new renko box to be created.

Thank you

[Apprentice]

Can you explain "logicounter"

[Univest]

Its basically the upper and lower price level
which has to be hit before a new renko bar is created. Please watch:
Thank you

https://www.youtube.com/watch?v=N3ErRTVIymo

[Apprentice]

In fact this has already been requests in the past.
Unfortunately, I have not had time to address this.

[7510109079]

Yes, I also made the logicounter request. It is unfortunate that there is not enough time to address this as I share Univest's sentiment. Although the mean renko is a good version it can be confusing trying to see where a new brick is next to be formed.

In theory such an indicator only needs to calc and plot 2 lines - a High and a Low.



A second request regarding this Mean Renko then:

Is it possible to adapt the Renko Strategy...
http://fxcodebase.com/code/viewtopic.php?f=31&t=60750#p94243

... so that it would work with this Mean Renko using the Tick interval. The power of this is that it would enable us to trade renko bricks in real time as the Tick option is not available in the standard Renko view (and trying to trade from m1 is useless as many bricks can print at period end/close).

Is this possible in theory or are there limitations involved?

thx

[Apprentice]

It is possible, unfortunately I have not found the time for this.