I am testing some strategies and will share it after testing them on these renko types. Want to know if anyone can create this new kind of renko. The Renko is Combination of Regular and Median Renko.
As we know the regular renko bar if set to 10, will paint a new bar every 10 pips apart, but on reversal will print a new bar after 20 pips. So, I am looking for a Renko that will paint a new bar every 10 pips, but will reverse if the price move 5 pips in reverse instead of 20 pips. The Hybrid Renko will have the option for setting up the brick size and also the Reversal Brick Size (half of Brick size in Our Case).
So The Chart will look kind of Regular Renko, But when Reversals will kind of Look Like Median renko.
As we know the regular renko bar if set to 10, will paint a new bar every 10 pips apart, but on reversal will print a new bar after 20 pips. So, I am looking for a Renko that will paint a new bar every 10 pips, but will reverse if the price move 5 pips in reverse instead of 20 pips. The Hybrid Renko will have the option for setting up the brick size and also the Reversal Brick Size (half of Brick size in Our Case).
So The Chart will look kind of Regular Renko, But when Reversals will kind of Look Like Median renko.