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I need Renko bars that also show inside bars

  • Post #1
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  • First Post: Jul 9, 2011 3:25pm Jul 9, 2011 3:25pm
  •  iffex
  • | Joined Mar 2011 | Status: Member | 23 Posts
So Renko bars show only completely filled bars of a set number of pips. The problem with them is that for a renko bar in the opposide direction to appear, price first has to fill a complete inside bar and then another one in the same direction for the first bar to appear. So it hides a lot.

Do you get what I mean? I'm looking for renko bars that do not hide them.

I am aware of range bars. However they are not nearly as structured as renko bars and actually show too much. They often show bars that aren't even filled to the set number of pips.
  • Post #2
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  • Jul 10, 2011 6:43pm Jul 10, 2011 6:43pm
  •  Xaphod
  • Joined Mar 2010 | Status: Member | 1,380 Posts
Set your renko bar indicator/EA to show wicks.

RenkoLiveChart can be set to show wicks:
http://www.forexfactory.com/showthre...06#post2943706
 
 
  • Post #3
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  • Jul 11, 2011 1:33am Jul 11, 2011 1:33am
  •  Expert44
  • | Commercial Member | Joined May 2011 | 146 Posts
I do not get why some people like Renko.
As I know it works only in trending time of high volatility but
it also gets trapped very often.
 
 
  • Post #4
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  • Last Post: Jul 11, 2011 10:02am Jul 11, 2011 10:02am
  •  iffex
  • | Joined Mar 2011 | Status: Member | 23 Posts
Quoting Expert44
Disliked
I do not get why some people like Renko.
As I know it works only in trending time of high volatility but
it also gets trapped very often.
Ignored
phhhphphphphhhhh!!!!

What do you mean works and doesn't work? Do you think I buy when renko goes up and sell when it goes down or something??? Seriously I don't get you.

It is ONLY a way, an option, a technique, of viewing the markets in a very structured manner on 1 'timeframe'. Which is exactly what my system needs.

It needs to know where the price is every 4 pips of movement. Yet it takes only a half to 2 highly precise, no drawdown, LOTS of pip trades per day.

How would my system handle 1minute bars? Calculate once every minute (at the close of candle)? Well what if the bar is too large. Then my entry will be too late.
What about just every movement/tick? Then how would my system know how much of older data to calculate in? The history (older bars/ticks) my system calculates from is then inconsistant.
 
 
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