Mcx trading with renko bars

[sateshchand]

crude 6125 support broken

 

[sateshchand]

aluminum buy signal

 

[boarders]

i see that you are using 2 minutes timeframe, I also use renko chart but with 1 tick setting
as I inderstand that renko does not have timeframe and if used on 2 mnutes timeframe, then renko paintings may not show the real picture

 

[sateshchand]

no time frame in renko but chart looks like 1 mnt to 1hr depending upon the market movement.
brick size is important it varies scrips to scrip and data provider and movement of market also
if market fast looks like 1mnt chart

totaly complicated setting only by experience we can learn no hard and fast rule.
but following chart very easy.
we can enter like 1mnt chart and exit like 1hr chart
only simple indicators and works well than time charts.
this only for scalping not position trading

 

[boarders]

right now as i see you are using 2 minutes timeframe, try changing the timeframe and see the difference it makes to the plot

 

[sateshchand]

you mean brick size too small brick size makes too many falls signals
if you have any charts pls post here

 

[boarders]

not the brick size, keeping the brick size constant if you change the chart time frame, then the plot also changes just with different time frames. that is why renko should be use only on tick data of 1 tick otherwise if chart is set in timeframe mode then the renko can plot only as per the timeframe set, that is even if the price changes by lets say 4 bricks within the 2 minutes as set by you, then those 4 bricks will paint only at the end of that two minutes

 

[sateshchand]

for renko chart standard is 1mnt i am using same
this offline chart named as 2 but it can be changed any number except standard mt4 tf
you are confused with tf2

 

[boarders]

well okay, as a person well versed in renko as well as afl writing, my understanding is different of renko

 

[sateshchand]

ok your talking with reference amibroker.
but my charts are mt4.i have more experience in renko in ninjatrader a best system for renko.
i did not come acros any good afl of renko
are you having any renko afl for amibroker