Is it possible to trigger an entry based on a bar tick size?

[MisterTMF66]

Looking to enter a position after the reverse bar is closed. I am not sure what conditions to use.

[UltraNIX]

From what I see it's outside bar, so your calculation should be something like

High[0] > High[1] && Low[0] < Low[1]

Another thing to keep in mind - you would need larger swings to make profit, because if you entered on the bar with the arrow and exited at the very last green bar, you'd barely make a profit and also account for slippage, commission and spread.

[MisterTMF66]

Thank you for your response. My trade is a high risk to reward scalp, with a 4 tick move in either direction when certain conditions are met. My illustration is a part of an example of what I am attempting to have the Strategy Builder complete. I only want the initial directional entry after a 26 tick reversal from the opposite direction. Any bar that has a wick greater than 2 ticks is an outside bar and I do not want a trigger based on that. I have had some success with a few indicators triggering the entry but I have not been able to fine tune it based on the reversal. I have some other requirements before a trade can be placed but my main focus is on the reversal. I understand what the potential profit targets are and have considered the real trade factors. Yes, the larger the swings without getting stopped out will potentially generated some better results. My illustration is just a visual of what I am trying to accomplish, manually traded through a Market Replay Session, so the PNL results are are not from a live market and note that these types of trades are not guaranteed to be successful as that is the same with any type of set up. I am not recommending anyone to follow my strategy. I am just looking for some directions on the best way to trigger that reversal entry that I am struggling with.. Thank you.

ES-Mini

[NinjaTrader_ChelseaB]

Hello MisterTMF66,

The renko bar brick size is not available to the Strategy Builder but can be retrieved in an unlocked script from the BarsPeriod as the BarsPeriodType.Value.

https://ninjatrader.com/support/helpGuides/nt8/barsperiod.htm

However, are you wanting to know that the current bar has the open higher than the close and the previous bar has the open less than the close, and vice versa?

[UltraNIX]

From your picture - if bars with wicks are outside bars, then it has to follow through. What I mean - if it is outside bar, place Buy Stop Market order 1 tick above previous bar. If it triggers, then you got the reversal, if it doesn't - try again onthe next bar. I wouldn't think of the way to catch the very first reversal bar, other than current bar's high + x ticks (if you say that wick is 2 ticks, then maybe try 3 ticks or more?)

I was warned previously that renko bars doesn't provide correct backtesting so I never really got into touching them.

[NinjaTrader_ChelseaB]

Hello UltraNIX,

The nature of how Renko bars change the open with RemoveLastBar() does make backtesting with these unreliable.

https://ninjatrader.com/support/forum/forum/ninjatrader-8/platform-technical-support-aa/109640-isfirsttickofbar-bug?p=839636#post839636

https://ninjatrader.com/support/forum/forum/ninjatrader-8/platform-technical-support-aa/108027-isfirsttickofbar-with-linebreak-barstype-error?p=830910#post830910

https://ninjatrader.com/support/forum/forum/ninjatrader-8/platform-technical-support-aa/1100676-big-difference-in-strategy-performance-using-unirenko-bars?p=1100852#post1100852

https://ninjatrader.com/support/forum/forum/ninjatrader-8/indicator-development/1065791-historical-vs-live-and-isfirsttickofbar-logic?p=1065833#post1065833

[MisterTMF66]

Thank you Chelsea B.for your simple solution. I am now the getting the orders to fire off. My code was just wrong. I saw the difference with the historical back test data and what the analyzer generates. The Renko false open gives a much earlier entry which gives a much better, but false performance result. I run the Market Replay and let the orders execute to get my results. It takes some patience. I also have the Si Backtest Renko Bar for the Analyzer. I just have not gotten around to really trying to use it. There is not a real strategy in the illustrations. Just examples of the orders being executed automatically. Thank you again.

[UltraNIX]

these bars are still absurd, I think. I mean, what if you, knowing, how many ticks each bar is, open at the very low and sell at the very high of the same bar and repeat the process on every bar? It sounds like a fairy tale, and that isn't realistic.

[MisterTMF66]

The first chart is what you get from a fixed backtest result. The second chart are trades when executed in a running Replay. The third is what is actually going on. All three are the same. Renko can give a nice visual. My key, is understanding what they are doing in realtime and identifying the trends and how price is moving. With Renko, in my opinion, the open and close of a bar is irrelevant. My focus is on the price movement. I can see the trend and habits of the animal clearly. (ES Mini) No one chart, bar type, indicator or style of trading is going to work for everyone. I am not attempting to convince anyone to use these. Just sharing some information relevant to my initial question that may or may not help someone who has some interest in the Renko Bar. I found some ways to get some traction using them. Each trader has to find what works for them. Thank you.

[UltraNIX]

The first chart is what you get from a fixed backtest result. The second chart are trades when executed in a running Replay. The third is what is actually going on. All three are the same. Renko can give a nice visual. My key, is understanding what they are doing in realtime and identifying the trends and how price is moving. With Renko, in my opinion, the open and close of a bar is irrelevant. My focus is on the price movement. I can see the trend and habits of the animal clearly. (ES Mini) No one chart, bar type, indicator or style of trading is going to work for everyone. I am not attempting to convince anyone to use these. Just sharing some information relevant to my initial question that may or may not help someone who has some interest in the Renko Bar. I found some ways to get some traction using them. Each trader has to find what works for them. Thank you.

My criticism was not around you, I may not understand renko bars that well in order to make any conclusions after all. If it works for you - fine. I can't deny - it's tempting for me to get my hands around it, but as I said - I've been warned before about backtest being inaccurate, so I stay away.

[MisterTMF66]

My criticism was not around you, I may not understand renko bars that well in order to make any conclusions after all. If it works for you - fine. I can't deny - it's tempting for me to get my hands around it, but as I said - I've been warned before about backtest being inaccurate, so I stay away.

You are correct that certain types of bars can give inaccurate information during backtesting. The solution would require some additional research, steps and or investments which may or not be worth the time or effort to get better data. The fact that we are here means we probably all have a passion for this stuff... Good conversation for everyone. Thank you.