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Can anyone please point me to any good resources (articles, Forum topics, books, whatever) to help me get an understanding of the differences between trading Renko bars (Universal and/or otherwise) and time/tick based candles, please? I'm particularly interested in how to choose appropriate settings, and how existing trading techniques might need to be modified (particularly for scalping FX).
but my advice to you, do not get exotic types of price, they will not give you an advantage, as they do not look nice
interaval time will give you an accurate assessment of the volume in the current time, but then you have to trade in currency futures
* If investing gets too difficult for a seventh grader to understand, the system is needlessly complex
* Markets produce an enormous volume of information, much of which is redundant
* In every game and con there's always an opponent, and there's always a victim. The trick is to know when you're the latter, so you can become the former
Thanks for this neat little indicator. Very useful for anticipating entry. It doesn't seem to like the Japanese Yen (6J) though. Current price for the Yen is around 0.010415 and both the high and the low are displaying 1E-02.
I have fixed the formatting problem for the price display for the Japanese Yen (6J). This new version of UniRenkoBarCloseV2 previously submitted by Sylvester is called UniRenkoBarCloseV2PF to emphasize that a slight modification of the Price Formatting has been made. While this new "PF" version will work for all Instruments, it does add more significant figures (trailing zeros) than is needed and is recommended only for the Yen. Someone with more experience than I with price formatting should look into the original indicator and see if a formatting method can be found that covers all Instruments.
You can probably look at one of @Fat Tails recent session indicators for examples, if memory serves he basically tests for all known formatting types and then formats accordingly. There isn't a single line of code or expression that works universally -- but he and others can confirm.
All I did was to remove the formatting and it works just fine, on all instruments. Simply change these two lines by eliminating the formatting variable within the .ToString()