Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Briefly: Renko bars do not backtest correctly due to incorrect open/close prices. Backtest results are false. Work around is to use multiple dataseries, the renko is 'data2' and a reliable entry bar series for executions like a range or tick bar for 'data1'.
Dan, start your new thread per BM and I'll give you some insights on why renko backtesting is VERY positively biased and some tips/tricks on workarounds (if possible at all).
"A dumb man never learns. A smart man learns from his own failure and success. But a wise man learns from the failure and success of others."
As noted in the "MC v7 Cool things" thread, MC now has Renko bars.
Now other platforms have had this and other more sophisticated bar types for a while and so have discovered the pitfalls with these types of bars. But being a MC user, I am …
If you mean why are they asking for input on wicked renko charts, its because they wanted to better understand why users wanted wicks on renko bars since it isn't a traditional renko brick at that point.
I believe you could sum up the answer easily - so that it will backtest properly, while maintaining the body of the candle in true renko form.
This should be carried to a new topic, as this thread is about cool stuff in mc7, and wicked renko is not in there