Renko Charts?

[stephenszpak]

I don't get it.

[roonius]

I don't get it.

Let's say we have a 4ticks ES renko last bar up at 900.

Next bar will be upbar if price will reach 901 or will be a down bar if price will go down to 898.

If price will go up until 900.75 and then back down to 898, you might have 10 "down bars" on your 1 tick renko until first "down bar" appears on 4 tick renko chart

[stephenszpak]

Ok, that sort of makes sense. But why wouldn't 900 to 900.75
to 899 result in a Renko downbar (of 4 ticks)? The 900 to 900.75
has no effect, but the 900 to 899 gives 4 ticks, to equal one
down bar I thought.

[roonius]

Ok, that sort of makes sense. But why wouldn't 900 to 900.75
to 899 result in a Renko downbar (of 4 ticks)? The 900 to 900.75
has no effect, but the 900 to 899 gives 4 ticks, to equal one
down bar I thought.

Because renko can not be "side by side" - it is always up 4 ticks above the high or down 4 ticks below the low. The low of the previous bar is 899 and the high is 900, so it has to go up to 901 to make a new high or down to 898 to make new low

[stephenszpak]

Thanks, I think I understand now.

[TG4TA.stockman]

Getting blank chart

Thanks, roonius, for your work.

Can someone help me?

I'm new to NJ65, and hope to write my own indicators. But until then, I wanted to install RENKO chart types.

I installed roonius' chart type as directed. It shows up under the MY DOCS folder, but when I restart NJ65, build a chart, and format data series (to renko), I get a blank chart no matter what I set the "ticks" to.

Is this due to me using TDAmeritrade data, which does not have "tick" data (only daily open/close)? I even tried downloading historical minute data (TDA), and get the same result (although I can now get candles by the minute).

Thanks in advance.

tg4ta

[roonius]

Thanks, roonius, for your work.

Can someone help me?

I'm new to NJ65, and hope to write my own indicators. But until then, I wanted to install RENKO chart types.

I installed roonius' chart type as directed. It shows up under the MY DOCS folder, but when I restart NJ65, build a chart, and format data series (to renko), I get a blank chart no matter what I set the "ticks" to.

Is this due to me using TDAmeritrade data, which does not have "tick" data (only daily open/close)? I even tried downloading historical minute data (TDA), and get the same result (although I can now get candles by the minute).

Thanks in advance.

tg4ta

Renko is built from ticks, so you will need tick data. Minute data won't work

[TG4TA.stockman]

Renko is built from ticks, so you will need tick data. Minute data won't work

Thanks, roonius. Forgive me if I sound like a noob, but does that mean real-time data access (like TD Ameritrade) would offer "tick" data?

I know that Renko charts can be built for equities (ala StockCharts), but I don't really know the underlying data that they use, and have never had renko charts in any of the software that I have used before.

Thanks!



*****
UPDATE: Nevermind. I think I found the answer.

In the support page, under connections, TD Ameritrade, and limitations of TDA/NinjaTrader, it states that "Historical tick data is not supported".

I'll try it out on Monday and repost if I have continuing problems.