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I am not renko software developer and I have been on this since the beginning. I was the very first member uploaded my indicator VolStop for general use. What are you trying to imply?
I would say the differences are subtle but enough to impact trading results day to day. Some Renko bar types do a pretty good job at the entry but not the exit. With others it's vice versa. These bars allow a decent fill in both directions.
Another note - it might depend upon what version of NT8 you are using. The last time I updated NT8 one of my Renko bar types behaved differently than before the update. It's pretty tricky stuff.
I spend a lot of time looking at the individual bar data. What was the close of the previous bar, what was the open the current bar, etc. When back testing a strategy the fill normally takes place on bar open. But when live testing it doesn't always work out that way as we all know.
So for my purposes I hone in on the individual bar data as closely as possible. It can make or break a strategy.
Ya ya i agree.. i also tried to figure out a way to get the backtest engine to fill on the close of the bar rather than the open of the next but i couldn't make any progress on any bar type. so i just accept it as a limitation of NT... which is stupid. i mean how hard is it to add a tick box that says fill on bar close or next bar open...
When building strategies I know it is possible to use the condition: IsFirstTickOfBar.
Sometimes it comes in handy, but in essence it is equivalent to using CalculateOnBarClose. As far as strategies go I've never been able to create anything that does something else besides CalculateOnBarClose.
Now it is possible to setup a multi-time frame strategy. All trades are executed on the primary data series, say a 3 minute chart. The secondary data series might be something like a 15 second chart. In a case such as this you can execute a trade intra-bar. The 15 second chart would trigger a trade on the 3 minute chart.
However, I've not been able to set up Renko bars for use as a secondary data series for some reason. The strategy builder does not allow this. I suppose an experienced coder could accomplish that task but I am unable to do so.
i was going to try multi time frame for renko but then i decided against it just cause i really didn't see the value over traditional bars. but ya anyway best of luck with your new renko's keep us posted!
Hi,
I use SiProRenkoBars in my strategies (together with my indicators), all of them coded by me. I backtest only via Market replay. Other backtesting methods fail. The only problem with Market replay is that it takes long time to make a backtest. I usually spend 2-3 days to backtest (via Market replay) one(1) month back !!. However, the accuracy is 85-90% comparing with real-money trading. I attach a backtest file which which has been verified (with real-money trading) by 91%. The same range of accuracy I saw in the last 18 months back. I use NinjaTrader (NT7). Conclusion (IMO) : Use Market replay backtest method if you use any type of Renko Bars. Thanks .