cory 

looking good Jay, how about renko with HL. ps just saw roonious' comment, first thanks for the tape channel indicator but I have to disagree with your renko comment its purpose is to keep you in trend and filter out the noise. from looking at the new renko i see it has the same purpose and more.

I am not talking about purpose, just definition.

TheWizard,

Are you still using Renko bars? I found a lot of value in them in general, but was too accustomed to volume bars for my large chart to make the switch. I was very excited about them in the beginning but there were a too few many times where the extra lag was too much.

Maybe I was not using them in the best manner -- placing them on my biggest chart. Maybe due to their extreme noise reduction + a big chart is not the best combination. Something to consider.

I wonder how others are using them?

Mike

Big Mike 

TheWizard, Are you still using Renko bars? I found a lot of value in them in general, but was too accustomed to volume bars for my large chart to make the switch. I was very excited about them in the beginning but there were a too few many times where the extra lag was too much. Maybe I was not using them in the best manner -- placing them on my biggest chart. Maybe due to their extreme noise reduction + a big chart is not the best combination. Something to consider. I wonder how others are using them? Mike

Mike,
No. Gave up on them. Noise reduction was the temptress there, but I didn't like not knowing where price was at any given time. I developed the Holy Grail system (I'm sure you've been keeping up on the thread. Made some enhancements, Rjay made / suggested some today, which I implemented & posted to the thread along with the chart template. Working quite well. Probably won't return to Renko, but I was intrigued by it.

TheWizard 

Mike, No. Gave up on them. Noise reduction was the temptress there, but I didn't like not knowing where price was at any given time. I developed the Holy Grail system (I'm sure you've been keeping up on the thread. Made some enhancements, Rjay made / suggested some today, which I implemented & posted to the thread along with the chart template. Working quite well. Probably won't return to Renko, but I was intrigued by it.

Thanks for the update. Renko shouldn't be used as your only bar type, you should always have multiple time frames/charts open and. Just like Heiken Ashi bars have value, but can't reliably be used to determine price hi/lo on a certain bar and would require a unaltered bar type of some sort.

Mike

FYI,

I may not know when to give up.

I am still doing research on a range chart that builds Renko bars tick by tick.

I can see it in my imagination.

Learning how to program it is a killer.

Persistance will pay off.

Keep your fingers crossed.

RJay

RJay 

FYI, I may not know when to give up. I am still doing research on a range chart that builds Renko bars tick by tick. I can see it in my imagination. Learning how to program it is a killer. Persistance will pay off. Keep your fingers crossed. RJay

Rjay, Thanks for all you efforts! Please let me know (if) when you succeed. I'd love to give it a test run.

Quoting 

... Maybe I was not using them in the best manner -- placing them on my biggest chart. Maybe due to their extreme noise reduction + a big chart is not the best combination. Something to consider. I wonder how others are using them? Mike

you hit the nail right on the head, try smallest instead the biggest here is renko on .25 range chart.
https://www.sierrachart.com/userimages/upload_2/1248842619_94_UploadImage.png

Check out this version for Renko that updates the last bar:

Speculator Ed's Blog: Ed's Renko Indicator

point-o looks great.

cory 

point-o looks great.

PointO is available in the downloads - misc section on this forum.