Discussion about Renko : (from Varun's thread)

kingkrunal

Well-Known Member
It was a tough day trading CL. As per my renko I went long 5 lots @ 5275 but then the price went as low as 5235 shaking me. But I surrendered to the system and finally the price restored.
so if your range was 3 and you sell or buy at 8 bars this should have turned into sell ?? isn it ?
 

kingkrunal

Well-Known Member
Looks like price is fighting itself which is shifted forward is it not repainting really
The thing is when the bar value is 52 or 10.. at that movement it should close the bar and go next .. bar creation.. the repainted is called when that bar vanishes when price comes back.. like 5500 .. two red bars as it came down from 5510 and bar lenght is 5... But what happens is those 2 bars vanishes from the chart when price goes back to 5510.. so that is the main problem..
 
The thing is when the bar value is 52 or 10.. at that movement it should close the bar and go next .. bar creation.. the repainted is called when that bar vanishes when price comes back.. like 5500 .. two red bars as it came down from 5510 and bar lenght is 5... But what happens is those 2 bars vanishes from the chart when price goes back to 5510.. so that is the main problem..
i dont care if the bar repaints the signals must not if they do the system is quite useless.
 

kingkrunal

Well-Known Member
i dont care if the bar repaints the signals must not if they do the system is quite useless.
It does actually.. when it was about to give the signal.. let's say your strategy is go short at 3 renko bar.. u shorted now if price comes back above that in that timeframe.. your signal is gone from the chart. Let's say u have 1 min tf then it won't vanish if the price has not moved according to your bar size in 1 min... So that is fine.. but if higher time frame and low brk size. It will surely crate chaos..
 

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