Problem with Renko bars

[NinjaTrader_JC]

Hello SnakeEYE,

The suggestion ID #899, was for the for the Session Break Line that Sylvestro mentioned in Post #25.

Could you clarify what issues you are running into?

[SnakeEYE]

Hi JC,i just want you to confirm that they are correct and have no glitches.That`s all.

[NinjaTrader_JC]

Hello SnakeEYE,

Beside testing strategies on historical Renko/Range bars that would not reflect a real-time environment, there is no "bugs/glitches" that I am currently aware of. We are always striving to improve our product though via user suggestions and optimization.

[SnakeEYE]

Did i miss the point?How do i get rid of the session break line which creats price gaps?Or you didn`t solve the issue yet?I wouldn`t want to have any gaps after breaks or holidays.

Thanks

[NinjaTrader_Bertrand]

SnakeEYE, for this you would currently need to employ a custom session template spanning a week for your Renko chart to have a weekly reset then only.

[SnakeEYE]

Just a week?

[NinjaTrader_Bertrand]

Yes, a week is the longest custom session template you could create.

[Sylvestro]

JC,
I first did not think it was too important, but I found out that there is a big difference in result trading Renko bars with a pip offset or not. So, for that I believe my last, but important suggestion: please include the possibility for a pip offset. For example using a 10 pip bar without a pip offset will have open and close at 1.0000 and 1.0010, with an offset of 3 pips it will have open and close at 1.0003 and 1.0013 etc.
Thanks,
Sylvestro

[NinjaTrader_JC]

Hello Sylvestro,

Thank you for providing your feedback as we continually strive to improve upon NinjaTrader's features. Once I get a unique tracking ID for this request I will send it to you.

Suggestion ID #2055.

[Sylvestro]

Renko bars subject to price starting level

Renko bars should always start at the same price offset to obtain the same chart independent of the starting moment. In the attached figures you can see the ES once as a 300 bars chart and once as a 3 days chart. THEY ARE DIFFERENT! That should not be the case. Creating indicators will give different results for both charts. Here they should default start at x.00 and an offset must be selectable so that for the ES you can start from x.00, x.25, x.50,x.75 or in other words 0 to 3 ticks offset. And please do not introduce a session break because that creates another bar that has nothing to do with the Renko bars. Thanks for looking into this.
Sylvestro

[NinjaTrader_JC]

Hello Sylvestro,

Thank you for the feedback. I will make sure to pass it a long as well to our development team.

Note that the start price may vary depending on the value of the starting tick of the current session.

[Sylvestro]

JC,
You write: " Note that the start price may vary depending on the value of the starting tick of the current session. "
I hope you understand that is exactly what is NOT wanted. It must be synchronized to a fixed start value as I tried to explain in my previous message... AND there should not be a session relation... The figure attached shows what we are looking for...
The last green up bar, the Renko part (10 pips), starts at 1.2943 and goes to 1.2953. This is obtained with a 3 pips offset fom the standard 0 start value and maintained for the whole chart and not related to any session information. Wicks represent the whole move and double hight bars are shown at turning points for real open and close values. So, this way this chart will give exact results when used in a back test.

[Sylvestro]

Here is apicture of a Renko bar overlapping

The attached chart uses an 8 brick size on the ES and is set to display 300 bars. As you can see there is an overlapping in one bar. As I mentioned before this happens if you are not using a custom range, but a number of days or bars. With a fix start date on another chart, this overlapping is not visible. And on one more chart with Renko set to 4, it is not visible neither. Something is not working correct here...

[RushToHP]

Just Joined NT7, Need help with Renko

Hello Fellows,
I joined NT last week and while playing with system, I came across Renko Chart (in data series), but somehow I am not able to load renko charts, I tried Bar,Candlesticks,Kagi, all those seems to be working fine, Just Not Renko.
Any suggestions ..?
Thanks and Happy Trading.

[NinjaTrader_JC]

Hello Sylvestro,

That would be expected if a new session started. The start values of the Renko Bar Type will be based on the first tick of the new session so what session template that you have selected will matter in determining the starting value.

You may view how the Renko Bar Type is calculated by opening the following file (My) Documents\NinjaTrader 7\bin\custom\type\@BarTypes.cs.

Thanks for that clarification as well, I will get that to our development team.

There are a number of custom Renko Bar Types that you may try out that based the starting price much differently than NinjaTrader.