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RENKO Trading SYSTEM - RENKO Indicators 7 replies

New Renko Bar and Reversal Renko Bar Indicator Alert Help Please 5 replies

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Sticky Renko Charts

  • Post #1
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  • First Post: Feb 28, 2007 5:22am Feb 28, 2007 5:22am
  •  mathematician
  • Joined Feb 2007 | Status: It's fun to preTrend. | 407 Posts
Introduction:
A renko chart is like a point & figure chart in that time is ignored and price is plotted in discrete blocks of a fixed size. The difference is that on a renko chart the blocks are not stacked on top of eachother but they are up (or down) and to the right.

P&F charts also usually allow for a reversal limit, meaning if there is a stack of up block, a new stack of down blocks will not begin unless price moves down by, say at least 2 blocks. I'm not sure if this feature is normally available in Renko charts but I decided to write a program that allows for this. Because it will stick to trends longer, I call it a "Sticky Renko chart."

Sticky Renko charts are great for looking at trends and filtering out noise. I have attached both a standard bar chart and a picture of the same data plotted as a Sticky Renko chart so you can compare and see how it reduces noise.

Instructions:
The attached zip file contains the program which is simply a Flash program you can run in the Flash Player. In the upper left corner you enter the file name of the data file you wish to plot. You can set the number of pips you want for the block size and the number of blocks you want to limit reversals (the "sticky" aspect, a setting of 1 or 0 would be like a normal renko chart). The pip scale field is to tell the program if a pip is 1/100 units or 1/10000 units. Basically set it to 100 if the data is for a currency pair that involves JPY, and set it to 10000 for all other pairs. Finally hit the green button on the right to load the data. You can also use this button to refresh the chart when you change the block size or reversal limit.

Data Files:
The program will accept data files that are CSV (comma separated value) text files. The data should only include OHLC data (open, high, low, close data in that order). There should be no extra columns before the OHLC columns and now rows that are not price data. You can use OHLC data from any time frame. There is a sample GBP/USD data file so you can see the format.
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File Type: zip StickyRenko.zip   9 KB | 2,965 downloads
  • Post #2
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  • Sep 17, 2009 7:56am Sep 17, 2009 7:56am
  •  toddanderson
  • | Joined Jul 2005 | Status: Member | 515 Posts
Is thier anyway to make this read off line data , like all the other renko
indicators ?


Quoting mathematician
Disliked
Introduction:
A renko chart is like a point & figure chart in that time is ignored and price is plotted in discrete blocks of a fixed size. The difference is that on a renko chart the blocks are not stacked on top of eachother but they are up (or down) and to the right.

P&F charts also usually allow for a reversal limit, meaning if there is a stack of up block, a new stack of down blocks will not...
Ignored
 
 
  • Post #3
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  • Nov 12, 2009 9:49am Nov 12, 2009 9:49am
  •  MurphyMan
  • | Joined Sep 2009 | Status: Rule #1... Don't lose your pips | 197 Posts
Hello mathematician. In two and a half years, the activity on your thread is underwhelming, though I like your chart.

So, please tell us. How useful is the tool to your trading? Are you still using it?

Best regards,

MurphyMan
 
 
  • Post #4
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  • Nov 22, 2009 8:07am Nov 22, 2009 8:07am
  •  memo
  • | Joined Nov 2009 | Status: Junior Member | 1 Post
Tell us more please about this Indicator.

regards
 
 
  • Post #5
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  • Sep 14, 2011 7:17am Sep 14, 2011 7:17am
  •  nickyone
  • | Joined Sep 2007 | Status: Member | 12 Posts
Hello Mathematician
Which is the most reliable Renko Bar system and how to obtain it?
Many thanks
Nick
 
 
  • Post #6
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  • Last Post: Sep 14, 2011 1:05pm Sep 14, 2011 1:05pm
  •  Lou G
  • Joined May 2006 | Status: Only one user name... | 1,367 Posts
Quoting nickyone
Disliked
Hello Mathematician
Which is the most reliable Renko Bar system and how to obtain it?
Many thanks
Nick
Ignored
This is perhaps the best one, IMHO:

http://www.forexfactory.com/showthread.php?t=189584

Read carefully, download RenkoLiveChart_v3.2 (or v3.3) and follow the installation instructions EXACTLY.
Old Benjamin was right
 
 
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