Actual Renko - page 8

[chdudy]

Hello mrtools.

I have another questions about renko chart.

1. If we have different history on our MT4 platform, its mean that we will see different chat on renko? because the char will start to count let say 10 pips from different time, so he will close 10 pips differently. So how can I trust the char?

2. Also some time I think the char repaint itself.

Thanks

Dudy

[William Snyder]

chdudy:
Hello mrtools.

Thanks for the answer.

Do you have a real strategy for Renko that I can profut from?

Thanks

Hello Dudy,

No I don't have a strategy for renko.

[William Snyder]

chdudy:
Hello mrtools.

I have another questions about renko chart.

1. If we have different history on our MT4 platform, its mean that we will see different chat on renko? because the char will start to count let say 10 pips from different time, so he will close 10 pips differently. So how can I trust the char?

2. Also some time I think the char repaint itself.

Thanks

Dudy

Dudy, on your first question yes if you have different history then your renko chart will be different, best answer I can think of is to try a demo with a broker you think you may use for a real account, then go from there. On your second question, never really tested for repainting so really don't know if they repaint or not.

[jasonbourne]

renkomeanlivechart Indi question

Hey guys,

I have a few questions regarding the 'Renkomeanlivechart' indicator.

I've been trying it out for a bit and know it's a small deviantion from the normal renko bars.

There is one thing I don't understand atm though. For example when in a downtrend it takes 10 pip to print a new bar. It would take 30 pips for a reversal bar. Problem is I see wicks that are way bigger then 10/30 pips, but a new bar is not printed.

I've attached a screenshot to make it more clear what I mean:

At first I thought it must be because a bar is only printed when on the m1 time-frame the bar closes but that does not seem the case. I've seen meanrenko bars printed at for example 19:43:22 and 19:43:44 when the normal m1 bar was obviously still going up/down.

What causes these big wicks, yet no bar get's printed?

In the indi settings I got renko box size at 20 pips.

(sorry for my English guys, not my native language

[William Snyder]

robboman:
Hey guys,

I have a few questions regarding the 'Renkomeanlivechart' indicator.

I've been trying it out for a bit and know it's a small deviantion from the normal renko bars.

There is one thing I don't understand atm though. For example when in a downtrend it takes 10 pip to print a new bar. It would take 30 pips for a reversal bar. Problem is I see wicks that are way bigger then 10/30 pips, but a new bar is not printed.

I've attached a screenshot to make it more clear what I mean:

At first I thought it must be because a bar is only printed when on the m1 time-frame the bar closes but that does not seem the case. I've seen meanrenko bars printed at for example 19:43:22 and 19:43:44 when the normal m1 bar was obviously still going up/down.

What causes these big wicks, yet no bar get's printed?

In the indi settings I got renko box size at 20 pips.

(sorry for my English guys, not my native language

Hello Robboman,

The wicks and candle themselves are drawn after determining if there is an uptrend or downtrend.

[jasonbourne]

mrtools:
Hello Robboman, The wicks and candle themselves are drawn after determining if there is an uptrend or downtrend.

Thanks for the response!

Other renko mean/hybrid indi's do this too? I've never heard about this before.

Also when it determines the trend, is it possible multiple bars are drawn at once, or is it always 1 bar?

[William Snyder]

robboman:
Thanks for the response!

Other renko mean/hybrid indi's do this too? I've never heard about this before.

Also when it determines the trend, is it possible multiple bars are drawn at once, or is it always 1 bar?

Hard to say think there is only one version that I'm aware of, that is open source.

[Mladen Rakic]

There is some misunderstanding when is a new renko bar going to be formed

Here is one picture that can clarify some things : in theory, actual bar can be almost 3 times the size (-2 points) of a renko bar (I am talking about regular renko charts) and a new renko bar will still not be formed. It is not just the size of a bar that "decides" when will the bar actually be formed but the direction too and previous high and low of a renko bar

[tampa]

One more renko indicator :

ag_renko__4.mq4

[Joakin]

Renko V1 renko_v1.mq4