Anticipating Renko Bar Close

[pollard89143]

Hi all,

I was wondering if anyone had an indicator or a way to anticipate when a Renko bar will close?

Kind regards,

Ken

[NinjaTrader_PatrickH]

Hello pollard89143,

Thank you for your post.

I am not aware of an indicator or means to determine this successfully at all times. While you could potentially measure the distance between the current bar High and the prior bar High as well as the current Bar Low and the prior Bar Low against the Brick Size of the Renko, there is no real guarantee the close will occur in that direction.

Anticipation as you asked is a bit different though as you could develop an indicator that would measure the distance as stated above and provide a signal with a plot, drawing, alert, email, etc. when the High or Low was getting close to Brick Size. This I would be unaware of as specifically designed for the Renko bars but could be developed as a fairly simple indicator.

You can find an example of a similar concept for Range bars at the following link: http://www.ninjatrader.com/support/f...d=7&linkid=725

Please let me know if you have any questions.