Renko bars

[rtyscalper]

Does anyone know if it is possible to set Renko bars to a time period such as a 15 minute or 30 minute bar instead of the typical tick setting? Maybe it is a different type of Renko bar that I am not aware of. I am looking to duplicate a set up I seen & am having issues in doing so. There is no way to contact the guy who set it up as far as I know. I have posted a picture of the set up, it is a 240 minute, 60 minute, 30 minute & a 15 minute bar. Any help would be great. Happy trading.

Thank you

[NinjaTrader_PatrickG]

Renko bar types by definition are not based on time. Here is a part of the definition pulled from the Renko bar type help guide page:

Renko bars are based solely on price movement with no regard to time or volume. Each bar is known as a "brick," and is plotted as green by default when price is moving up and red by default when price is moving down. A new brick is plotted when price exceeds the High or Low of the previous brick by a specified amount, known as the Brick size.

I am unaware of a custom Renko bar type which accomplishes what you desire, however, I have provided a search for 'Renko' of add-ons available on this forum here.

I see that you were working with my colleague ChrisJ via email in ticket #1961929 with this question. If you can't find what you want, respond to his email so we can put you in contact with a third-party developer who may have what you're looking for or could create it for you. We can also provide resources and assistances to program this yourself via NinjaScript.

I encourage any users who may be aware of a Renko bar which performs this way to provide their feedback.

[Zeos6]

Hello rtyscalper,

I know what you mean. Currently the Renko bars, as they appear in NT, are built based on tick data. Is it possible to build them from time based data? Yes. It is possible, but you will need to build your own custom bars type to do that.

[Zeos6]

Hi PatrickG,

Your definition of Renko bars is correct but it is possible to build them from different bases. Other platforms - for example TradeStation, MultiCharts, etc. - already allow for this.

[rtyscalper]

Thanks

Thanks for the reply guys. I thought it was possible as I watched a video of a guy using them but I do believe to build them myself on Ninja is a bit over my skills. The platform the other trader was using was MT4 & it looked like a profitable system but I will have to hold off for now & figure something else out.

Thank you

[Zeos6]

All the best.