Time based Renko/Volume/tick chart - page 5

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Ovo:
Oh, I see. But it is not issue. Original Renko has it defined as bricks, so I keep it. It makes no difference in strategies.

Ok, you think that median renko version of this generator would bring some advantage? So just make the new brick start to a desired level of the previous one (20%, 50%, 85% ecc.) Just for curiosity...

 

However it doesn't work so bad...

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thefxpros:
However it doesn't work so bad...

Kinda tiny candles

 
thefxpros:
Ok, you think that median renko version of this generator would bring some advantage? So just make the new brick start to a desired level of the previous one (20%, 50%, 85% ecc.) Just for curiosity...

The more options, the more user queries. I am happy if there are none to ask.

 
Ovo:
The more options, the more user queries. I am happy if there are none to ask.

ehehehe right!

Thanks a lot Milan for creating this product for free!

First trades caught with the help of this chart...it does his work...

 

thanks guys. hers some screenshots i took for comparison

 
dagoods:
thanks guys. hers some screenshots i took for comparison

thanks dagoods.

Another good trade:

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Ovo:
I edited their picture to show what is wrong with this type of chart.

I marked candles, that according to my best guess are only paddings. They render immediately after the time/volume limit has been reached. In other words, they never happened, they are just fillings between the candles with wicks.

that is true. they are paddings. it still allows you to get in ..mostly its weird. but that is the very nature of the design of the indicator.... Probably would work better with range + time bars rather than renko + time... there's 2 snaps of what it looked like in real time....

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Ovo:
If someone wants to compare the Ninja version to the MT4 indicator, here is the file to play with:

renkohybridbar.ex4

All in all, I am still sceptical about the chart potential to bring the trader any advantage.

hey Ovo. do you think the indicator would benefit from being based with range rather than renko... if so that would very much appreciated. if you aren't interested in further development, may you please share the source code here so it can be further developed. TYIA

 
dagoods:
hey Ovo. do you think the indicator would benefit from being based with range rather than renko... if so that would very much appreciated. if you aren't interested in further development, may you please share the source code here so it can be further developed. TYIA

The implementation of the Hybrid Renko is complete. I am not a miser to keep everything I ever did, but I cannot leave this particular code (actually it has hundreds of kilobytes) as it contains most of the stuff which makes my humble income. The formula is revealed, so there is no secret behind.

Regarding modified Range bars - my opinion is that the range bars are far too good to be modified in any way, unless I get a sign of sense.

Anyway, if some one can confirm he has a profitable strategy for this chart type, I would be pleased.

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