Discussion about Renko : (from Varun's thread)

[monkeybusiness]

Nice a separate thread finally, Thanks Moderators

Was going to post the complete code for Modified ST, but MB already done that . . .

Can use Brick size 5 for Nifty Future, with BNF 10 or can try 15/20

Happy

Sir,
Copypasting we can do, but for complex things we need your help.

 

[timepass]

BNF 1 min : Renko (brick size 10.4) versus ST (11,2). Don't seem to be similar. There is 200ema too.

Renko :

Supertrend :

 

[monkeybusiness]

BNF 1 min : Renko (brick size 10.4) versus ST (11,2). Don't seem to be similar. There is 200ema too.

Renko :

View attachment 22147

Supertrend :

View attachment 22145

Sir,
similarity will not be there, Renko drops few points from top and bottom according to brick size, and TF selected (in theory it should be based on brick size only).

 

[Happy_Singh]

@TP


Original ST uses factor and ATR, where as Renko uses fixed brick size and 2 as factor for flipping . . .

Try the code MB has posted its modified ST, and not standard ST indi from Pi/Kite

Happy

 

[timepass]

@TP


Original ST uses factor and ATR, where as Renko uses fixed brick size and 2 as factor for flipping . . .

Try the code MB has posted its modified ST, and not standard ST indi from Pi/Kite

Happy

Not using Amibroker

 

[Happy_Singh]

Not using Amibroker

Then use Renko with lowest time frame available on your platform.
It will reduce the number of magic bricks the chart throws at end of your time frame.

Happy

 

[monkeybusiness]

Then use Renko with lowest time frame available on your platform.
It will reduce the number of magic bricks the chart throws at end of your time frame.

Happy

Loved it, that's why people are going euphoric about it.

 

[toocool]

Loved it, that's why people are going euphoric about it.

Means?

 

[extremist]

I don't use zerodha so can not comment on it. but still tht is the half work for sure.
Is the final closing price matching with current price?
if ys it ok. but still wicks is the missing part.

The code Ajax posted is the code from TASC it has one good thing.
It has date axis for renko.
But what about renko......?

 

[monkeybusiness]

Means?

Magic bricks, why every one is going gaga over it, it shows very clean trend, human eye is accustomed to pick top bottom eod, and mathematical mind calculates sure shot profits.