Although the comparison is hard to make, what estimated Better Renko size would be analagous to 5-min bar trading? Or in other words, what is the smallest Better Renko size folks would suggest trading on instruments like CL, TF, and/or 6E?

TrendTraderBH 

Although the comparison is hard to make, what estimated Better Renko size would be analagous to 5-min bar trading? Or in other words, what is the smallest Better Renko size folks would suggest trading on instruments like CL, TF, and/or 6E?

Hmmm.. 2 different questions as far as the smallest suggested size vs what's comparible to a 5min chart. As far as compatible goes.. What's the avg range of a 5min bar in crude? For example, crude can be a beast of an instrument, but if I look at last Fri's 5min bar chart, I can see that the avg range of those bars vary between, oh lets say 8 and 20tk.. I'll pick 13 for a constant here just for conversation.. Once I determine that, I'll divide that in half and start from there..


Here is a 5min Bar Chart






Here is a 6BRBB






And here is an 8BRBB







I don't use the Better Renko, but have converted to a hybrid version.. but here nor there, I personally wouldn't look at anything smaller that 6tk renko's on an instrument like crude.. Awful lot of noise with anything smaller, but just my opinion.. What you pick should have alot to do with which one you see price action on better, and then there's the risk part as well.. think risk first and foremost!! any stops smaller than the range of one bar (on small timeframe charts) is kind of trading in the noise.. not that I don't do that here and there.. but just say'n.. and whatever size renko you use, remember it takes double that size to actually get a reversal candle.. Not sure any of this helped, but wish you the best of luck!!!

EDGE 

Hmmm.. 2 different questions as far as the smallest suggested size vs what's comparible to a 5min chart. As far as compatible goes.. What's the avg range of a 5min bar in crude? For example, crude can be a beast of an instrument, but if I look at last Fri's 5min bar chart, I can see that the avg range of those bars vary between, oh lets say 8 and 20tk.. I'll pick 13 for a constant here just for conversation.. Once I determine that, I'll divide that in half and start from there.. Here is a 5min Bar Chart Here is a 6BRBB And here is an 8BRBB I don't use the Better Renko, but have converted to a hybrid version.. but here nor there, I personally wouldn't look at anything smaller that 6tk renko's on an instrument like crude.. Awful lot of noise with anything smaller, but just my opinion.. What you pick should have alot to do with which one you see price action on better, and then there's the risk part as well.. think risk first and foremost!! any stops smaller than the range of one bar (on small timeframe charts) is kind of trading in the noise.. not that I don't do that here and there.. but just say'n.. and whatever size renko you use, remember it takes double that size to actually get a reversal candle.. Not sure any of this helped, but wish you the best of luck!!!

I think 20/7 SiProRenkoBar chart for CL is one of the best.

Can you tell me what does it 20/7 means, and if it is a type of renko bars where can I find it, also can you post a chart with them and a chart with BetterRenko bars.
Sorry if to many questions, just trying to learn.
Tks

Srq1 

Can you tell me what does it 20/7 means, and if it is a type of renko bars where can I find it, also can you post a chart with them and a chart with BetterRenko bars. Sorry if to many questions, just trying to learn. Tks

Hello friend,
you can easily find answers and relative information to all your questions into the sharkindicators .com. I dont use BetterRenko bars.
Cheers