Applying Sonic R Strategy in NSE, MCX - Discussion

[zabeen2004]

RENKO bar succes only with proper brick size.
main reanson to us it is to reduce confusion.
most of indicators works very well in renko charts than time charts.
RENKO charts having advantages of 1mnt and 1hr charts.
we can not trade with renko charts with like 1mnt chart style trading
my thumb rule for brick size 5 to 10 times less bars than 1mnt chart.
we can trade with renko charts without any indicators.
all these with my personal research done on renko bars

i could not post any charts because i am out of station

Good to see a successful renko trader in TJ. Can you pls let BPR know why there is huge wicks and elaborate this point clearily for the thread readers "my thumb rule for brick size 5 to 10 times less bars than 1mnt chart."
with examples....
Finally does it REPAINT or NOT ???

 

[PreSap]

Not even a single candle to close above Dragon line since its short setup from 6254. This is in 1 MTF and not in any higher TF's. That's the real power of SONIC R SYSTEM 60+ points in 1 MTF for crudeoil....

Yes, really good stuff!
Thanks for the updates and for resuming the Sonic R system

 

[bpr]

here is the nifty renko chart.

What up with the big shadows? am I doing something wrong?
The shadows should not be bigger than the brick? right ?

I found out the issue. The source chart time frame accidentally changed to Daily from 1 minute. that is the reason for huge shadows. Going back to 1 minute fixes the issue.
But I still don't know the exact reason how the source timeframe affect the renko calculation as the brick size is same and renko is time independent ?
The brick size I chose in the chart is 12.

My findings on renko so far
-----------------------------
It does not repaint.
If you change any settings brick size etc etc in source chart then the destination will repaint.

The renko chart is offline. So obviously limitation as to what all indicator works.For me focusing on naked renko chart so no issues.

The renko chart does not match the price for example todays nifty high was 6902 in candle stick but in renko it is showing 6892. So something is whack . More clarity require on renko understanding.

In case of gap up and down the renko bar will show smooth trend but u may not always capture that.

Volatile movement (Like other day nifty moved more than 100 points in 5 minutes) will be shown as very smooth in renko which will not always end up in profits.

 

[bpr]

RENKO bar succes only with proper brick size.
main reanson to us it is to reduce confusion.
most of indicators works very well in renko charts than time charts.
RENKO charts having advantages of 1mnt and 1hr charts.
we can not trade with renko charts with like 1mnt chart style trading
my thumb rule for brick size 5 to 10 times less bars than 1mnt chart.
we can trade with renko charts without any indicators.
all these with my personal research done on renko bars

i could not post any charts because i am out of station

what exactly you mean by the highlighted ? Can you elaborate?

 

[bpr]

Good to see a successful renko trader in TJ. Can you pls let BPR know why there is huge wicks and elaborate this point clearily for the thread readers "my thumb rule for brick size 5 to 10 times less bars than 1mnt chart."
with examples....
Finally does it REPAINT or NOT ???

:rofl: I also asked the same thing.

 

[bpr]

BPR,

I tested Renko's many times but its not suitable for my trading style because of the reasons below.

Most of the Renko's Repaint which led huge confusions and emotions after a trade taken and failed but chart shows good profits but nothing in RT.
Unable to find people whom have knowledge on how to setup brick size for Equities.
IT WILL FREEZE your computer and charting software very frequently when you open multiple charts with indicators.
Remember you need to open 2 charts for 1 stock.
It is very hard to find renko experts for our exchanges.

Finally.... it has never worked for me... may be not suitable for my trading style and I would advise you to test it realtime before you take any decision on using Renko style trading...

I am in no hurry just curious about renko. I don't thing I will put money on renko any time soon.

Also regarding brick size I don't think there is any universal thing. You can choose any brick size( in Points)as long as it works for you.
Higher brick size is like higher time frame trading(not exactly but similar)

 

[sateshchand]

CRUDE brick size 5.
entry is like 1 mnt chart and trend like 1hr chart.
we can see all in one chart

 

[sateshchand]

my personal rule in bricksize which is showing good results on chart i am selecting that brick size. some times i fine tune with market condition if slow smaller size.
in ninjatrader many renko charts are there they looks nice but repaint.
here in mt4 not much repainting.
mainly less confusing good for new traders
for trading renko chart rocket science not required
only problem here brick size
big brick size does not repaint.
count number of bars in 1mnt and compare with 2mnt chart.

 

[sateshchand]

I found out the issue. The source chart time frame accidentally changed to Daily from 1 minute. that is the reason for huge shadows. Going back to 1 minute fixes the issue.
But I still don't know the exact reason how the source timeframe affect the renko calculation as the brick size is same and renko is time independent ?
The brick size I chose in the chart is 12.

My findings on renko so far
-----------------------------
It does not repaint.
If you change any settings brick size etc etc in source chart then the destination will repaint.

The renko chart is offline. So obviously limitation as to what all indicator works.For me focusing on naked renko chart so no issues.

The renko chart does not match the price for example todays nifty high was 6902 in candle stick but in renko it is showing 6892. So something is whack . More clarity require on renko understanding.

In case of gap up and down the renko bar will show smooth trend but u may not always capture that.

Volatile movement (Like other day nifty moved more than 100 points in 5 minutes) will be shown as very smooth in renko which will not always end up in profits.

repainting problem not there in mt4 but in ninjatrader some renko having this problem.
there are many advantages still some minor problems are there.
sudden up or down or shown smooth those are nontradeble.
mainly use for trend not for absolute values of like high and lows.
most of all indicators work and they work much better than in time frame

 

[zabeen2004]

Sell BB 813.8 with Sl 818.8

Stock made high of 818 and low of 806.1 after the above post.