Discussion about Renko : (from Varun's thread)

[Ajax]

vskl line on renko. normal candle chart super imposed.
e36 - ema set to 3 instead of 36
as renko is timeless, do not correlate with candle chart.
actually , in this renko.. white brick gives a good indication of reversal
vskl goes flat

 

[doss186]

vskl line on renko. normal candle chart super imposed.
e36 - ema set to 3 instead of 36
as renko is timeless, do not correlate with candle chart.
actually , in this renko.. white brick gives a good indication of reversal
vskl goes flat

Yes ema 3 suits best the problem is volume data which doesn't fit into renko

 

[doss186]

EMA set to 3 on VKSL

 

[Ajax]

actually don't need vskl here, flat bricks / white bricks give good reversal indications
and its timeless

 

[doss186]

There may be divergence in price and volume, but there's no divergence in price movements, need experts advice on this. That's where the concept of Renko comes in...

 

[extremist]

my observation on so called Hybrid Renko.
Correct me if i'm wrong.

1 min latter

here i'm running two renko charts
left is posted By MB and on right side So called Hybrid renko (code posted by Doss)

And as per my limited knowledge of charting that's what is called as repainting code as we see in Hybrid renko.
Just by going to the next bar if whole of the chart is changing then it is repainting

now tell me how you will trade on white bar formation?

now some may argue tht it is gap up and not a tick chart....
but left chart is proper not a brick in past is changed.

please guys..... have a will to spend some time to test the code instead of just punching the like button to each and every post.

Doss.... waiting for your explanation.

 

[extremist]

Yes with this system only forward movement has to be considered. As this a median value it the past values will change as time passes. But we are interested in what is coming. We can't call that as repaint.

I think forward going and repainting is different.
Wht i seen with tht hybrid renko is repainting code.

@doss186
please correct me if i'm wrong.

 

[extremist]

The main thing is
whole outburst on renko discussion started with the image like this image....
followed by some more images like this images.
Then Limited Sharing happened
it left almost 80% followers in dark (no code syndrome )
And demand kept increasing....
then new thread started
again similar images at start
then comes so called hybrid renko.
and original cause vanished.

where r we heading......?
are we really moving in any particular direction?

 

[extremist]

actually don't need vskl here, flat bricks / white bricks give good reversal indications
and its timeless

Bro... which code u used?
Is it the one u posted?
http://www.traderji.com/community/t...from-varuns-thread.105263/page-2#post-1248911

i'm unable solve the errors i'm getting in tht code.
initially i got error of reverse function which i solved then i got following errors

please help....

 

[doss186]

The main thing is
whole outburst on renko discussion started with the image like this image....
followed by some more images like this images.
Then Limited Sharing happened
it left almost 80% followers in dark (no code syndrome )
And demand kept increasing....
then new thread started
again similar images at start
then comes so called hybrid renko.
and original cause vanished.

where r we heading......?
are we really moving in any particular direction?

Sir I dont use tick charts on renko, I use normally 3min chart, with proper bricksize I han't had issues of repaint.