Renko chart trading

#1
Hello Guys,

How many of them use Renko chart for trading? Please share your experience.

1. What is the brick size used for Nifty to do intraday trading? I see a 10 point brick size gives a good view in nifty.
2. How it is behaving in real time market?

Thanks
 
#2
hello

i tried renko but intead of commenting on their effectiveness i had an issue of plotting them.

i tried diff data vendors but none of them could plot renko effectively as a result the renko started giving weird results .

when i digged further as to how to plot renko properly following issue crept

1) renko requires tick data ( almost 150-200 usd per month from esignal )

2) some advanced coders were also of the view that amibroker is not suitable for renko bars plotting .

3) i tried renko on zerodha pie but it also failed disastrously

so with these incapacities i had to leave renko for the reasons stated above .

rgds


sumit
 
#6
Use NINJATRADER for RENKO.

Tick data is must. GDFL dont provide tick data. Minimum is 1 minute GDFL.

Brick size depends upon the trade that you wish to take. For smaller duration or small turn you can choose SMALL VALUE and vice versa. It depends upon you.
 

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