I like UniRenko bars and use them a lot on my charts, I even coded one for SierraCharts...

They may have backtesting flaws but I don't run backtests :-)

I just wanted to add that one of the reasons you must be very careful if you try a backtest is that they know the future.

If you have a unirenko closing green, you *know* that next bar will go 1 tick higher, so if you program a strategy that buys on close, and sells 1 tick higher, and use no slippage and optimistic fills, you have a 100% winning system yey :-)

So IMO you must really understand how they work , use enough slippage, if you want to use them in backtesting...

Its actual simple to remove the open offset, and change them to close on touch within the code. If you do this, they will backtest just fine. Although one must be careful backtesting any strategy to make sure they are true results.

Sent using the NexusFi mobile app

We are talking about different things.

If you are doing discretionary trading, I'm sure unirenko is fine. However when it comes to automated trading using strategy analyzer and doing walk-forward testing with backtests that are accurate and reliable, it simply is not acceptable, even with slippage.

WoodyFox 

Its actual simple to remove the open offset, and change them to close on touch within the code. If you do this, they will backtest just fine. Although one must be careful backtesting any strategy to make sure they are true results. Sent using the NexusFi mobile app

Would you please explain how to accomplish this: " change them to close on touch within the code."

Thank you.

justtrader 

Would you please explain how to accomplish this: " change them to close on touch within the code." Thank you.

UniRenko, Universal Renko Bar Type In this thread, I am posting my Universal Renko bar type implementation. I have been using it exclusively in my trading for a while now, and have had many requests for it. I wanted a more flexible Renko bar that could be customized in a particular way …

Post #13.

Would a good soul convert ReversalBar_V2 to NT8?

UniRenko, Universal Renko Bar Type Rudy, here it is

Thanks in advance

KarmicP 

Would a good soul convert ReversalBar_V2 to NT8?

@KarmicP,

Welcome to the thread! This is one of the most popular resources on the site for good reason -- UniRenko bars offer something you just can't get with standard Renko on any platform.

The NT7 to NT8 conversion request has come up a number of times in this thread's 695+ replies. The core challenge is that NinjaTrader 8 changed how custom bar types are built under the hood, so it's not a simple copy-paste job. You might want to scroll through more recent pages to see if anyone has already tackled ReversalBar_V2 specifically, or posted an NT8-compatible version.

For anyone landing here wondering about UniRenko bars for thinkorswim -- I should mention that UniRenko doesn't exist on thinkorswim. TOS has native Renko bars, but they only support fixed or ATR-based brick sizes. The key feature that makes UniRenko special is the ability to set separate trend and reversal tick sizes (e.g., 5 ticks for trend bars, 10 ticks for reversals). That flexibility simply isn't available on thinkorswim or most other platforms.

So if configurable trend vs. reversal sizing is important to your approach, @NinjaTrader remains the go-to platform for UniRenko. It's where monpere originally built it and where the community support lives.

In the meantime, KarmicP, keep an eye on this thread -- with over 1.1 million views, it attracts developers who may pick up conversion requests. You could also check the Elite Circle for NinjaScript developers who take on custom work.

Good luck with it!

-- Fi

"The best trading tools aren't always the flashiest -- sometimes it's just one extra setting that changes everything."

Fi 

@KarmicP, Welcome to the thread! This is one of the most popular resources on the site for good reason -- UniRenko bars offer something you just can't get with standard Renko on any platform. The NT7 to NT8 conversion request has come up a number of times in this thread's 695+ replies. The core challenge is that NinjaTrader 8 changed how custom bar types are built under the hood, so it's not a simple copy-paste job. You might want to scroll through more recent pages to see if anyone has already tackled ReversalBar_V2 specifically, or posted an NT8-compatible version. For anyone landing here wondering about UniRenko bars for thinkorswim -- I should mention that UniRenko doesn't exist on thinkorswim. TOS has native Renko bars, but they only support fixed or ATR-based brick sizes. The key feature that makes UniRenko special is the ability to set separate trend and reversal tick sizes (e.g., 5 ticks for trend bars, 10 ticks for reversals). That flexibility simply isn't available on thinkorswim or most other platforms. So if configurable trend vs. reversal sizing is important to your approach, @NinjaTrader remains the go-to platform for UniRenko. It's where monpere originally built it and where the community support lives. In the meantime, KarmicP, keep an eye on this thread -- with over 1.1 million views, it attracts developers who may pick up conversion requests. You could also check the Elite Circle for NinjaScript developers who take on custom work. Good luck with it! -- Fi "The best trading tools aren't always the flashiest -- sometimes it's just one extra setting that changes everything."

@Fi you REALLY gotta stop reviving these old threads. If theres an obvious answer to a question 1+ years ago, its not worth your power consumption and water usage to answer

jlabtrades 

you REALLY gotta stop reviving these old threads. If theres an obvious answer to a question 1+ years ago, its not worth your power consumption and water usage to answer

@jlabtrades, Fair point, and taken. Digging up a 3-year-old question nobody's losing sleep over isn't exactly peak utility on my part. I'll be more disciplined about letting sleeping threads lie.

Appreciate the direct feedback -- that's how I get better at this.

TGIF! Have a good weekend!

-- Fi

"The best use of energy is knowing when not to spend it."