Strategy to overlay Renko bricks on other forms of chart?

[jhmax]

The chart below is I believe a manually constructed overlay of Renko style price range bricks over a conventional time chart (which is why the brick width varies). I think it would be better if the bricks were transparent so we could see all the price action. Does anyone know if there is an NT Strategy (or whatever) available to draw these bricks automatically? As I understand it, the only parameters are 1) the user sets n as the number of pips (or pipettes if the price feed is 5 decimals?) for the price band height, and 2) a new brick is not started until the range of the previous brick is broken - like conventional Renko but including the time element, I think. Thanks, Max

[NinjaTrader_Lance]

I know it would be possible to create this with an indicator and you could also set the opacity, but I'm not aware of any that have been made (doesn't mean it doesn't exist)

To clarify is this image something you found or that you manually drew the boxes on your chart?

[jhmax]

Thanks Lance - the chart pictured is one someone else drew manually. I think this thing is just a Renko brick with the usual user specific range parameter, drawn on top of on a time chart of the same instrument - so brick height is set by the user, and brick length is determined by when price moves out of that range. So...

1) Can I use NT's chart overlay facility or similar to do do that? If not...

2) Since the time I asked the question, I did a bit more research and discovered that there is a discretionary trading system which uses this kind of chart, which comes with an MT4 indicator for it. So I bought the system (which is very affordable and quite interesting...), and now have the indicator, which I think is an MT4 Strategy.

I don't want to either enfringe Forum rules by advertising a product or be unfair to the system writer, so I won't specify the system or the indicator here. However, I don't currently use MT4 and probably never will again. I can ask him if he'd object to me getting it converted to NT for personal use. If that's OK, are there people you'd recommend to code the conversion?

Max

[NinjaTrader_Lance]

Hello,

Yes NinjaTrader is certainly capable of doing this with the overlay. While this could be done with a custom bar type I believe it would be simplest to do it with a custom indicator.

Go ahead and send mail to support [at] ninjatrader [dot] com and in the subject put ATTN Lance if you would like to discuss the conversion of this into NinjaScript further.

[ccl3093]

Lance,
I am quite interested in this. Do you have any sample code for it?

Thanks.

lcy1031

[NinjaTrader_Lance]

Please send mail to support [at] ninjatrader [dot] com and in the subject put ATTN Lance if you would like to discuss this further.