Renko for cAlgo

Created at 15 Jan 2014, 12:39
Subscribe
How’s your experience with the cTrader Platform?
Your feedback is crucial to cTrader's development. Please take a few seconds to share your opinion and help us improve your trading experience. Thanks!
jeex's avatar

jeex

Follow

Joined 18.10.2013

Renko for cAlgo
15 Jan 2014, 12:39

Of course real Renko charts are high on the wish list of many traders who trade price action and patterns. So i build a Renko lookalike : SimplifiedRenko. If combined with my Temporary Fair Value support and resistance area's are revealed that simple lines would not show. Where yellow dots  clutter around a line of blue or red dots, something is bound to happen soon.

The SimplifiedRenko itself of course answers to the many strategies for Renko, but one has to consider that below chart would shows 80 (hidden) candles, but would only contain 11 real Renko blocks as all horizontal lines are combined in only 1 Renko Block.

Well, happy trading.

@jeex
Replies

ErikD
15 Jan 2014, 15:45

Thank you for this!

 

A thought, if this was put in an indicator window wouldn't it be possible to make it time independent?, sort of like the Tick indicator


This should also serve as a message to the team at Spotware, Platform is awesome (best platform atm next to TS) but you have been "implementing" some functions for almost a year. 

Infact it has been o long so that a user took it on to him to create his own :/

@ErikD

jeex
15 Jan 2014, 19:32

Idea

Putting it in a seperate indicator panel is easy. Change true in line 16 to false.

How to make this panel time-independent, i don't know. Next version of this indicator will have the possibility to maken the block size relative to ATR.

@jeex
Copyright © 2024 Spotware Systems Ltd. All rights reserved.
The services provided by Spotware Systems Ltd. are not available to citizens or residents of the USA. Neither is the information on our websites directed toward soliciting citizens or residents of the USA.