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There support is excellent. I had emailed them some questions about the product, and they went above and beyond to answer it, and get me the answers i need.
I just waiting for a sale to actually buy the product (bloodhound) where they include the advance strategy pack for free or something...
I am a user of Bloodhound and BlackBird since the end of December, and their Backtest Renko bars for a few weeks. I have sent many emails to [email protected]. Mike is the one who usually answers, but keep in mind they are in Mountain time zone, and some of the replies come later than you might expect.
All my many questions have been answered. Also, on Thursdays they have live BloodHound webinars in which you can ask questions, and on Friday they have live BlackBird webinars. Zac runs these, and will even show you how to design strategies, especially if you email in advance.
There is a learning curve, but I have been able to build any strategy I can dream up, and right now I am in the process of creating SiBacktest Renko bar price action strategies.
I would buy the software again if I had to do it over.
Market Replay behaves much like live data, and doesn't suffer from the same limitations as Ninja's standard backtest behavior. So in that sense, no you wouldn't need the BacktestRenko bars. They're still popular for live trading because they give more control over their behavior than some other hybrid renko bars do.
I agree with what Keith said. I do like the SiBackTest Renko bars partly because I can backtest them. They can be drawn with backtest mode either on or off. When backtest mode is on, they look a lot like fairly ugly candlestick bars, but you can see where the actual open, highs, and lows of the bars occurred. This allows you to see what is actually going on behind the Renko.
However, one of the things I like most about them is that, with backtest mode turned off, the bars are highly configurable. I can not only define the brick size, but also the size of the reversal bricks and the number of ticks between each trend bar's high. Some bricks are drawn with only one tick from the high of the prior trend brick to the high of the next trend brick.
I personally don't like that brick appearance. For 4 tick Renko's for example, I like to use a 4 tick brick size, 4 ticks between the highs of each trend bar (making them appear uniform in size), and an 8 tick reversal. That way they look very much like the NinjaTrader Renko bar, but with tails to help define support and resistance. I also find that with these settings the bricks look similar with the backtest mode on or off, but even with the similar appearance, the backtest bars backtest accurately, while they do not test accurately if the backtest mode is turned off.
Market replay is different from backtesting. The reason traditional Renko bars cannot be backtested is that NinjaTrader assumes that the purchase price is at the open of the bar. But with Renko bars, all the bars appear to open at the the price indicated by the open of the bar as it is printed on the page. These are fake bars, and the actual open of the bar is usually someplace other than the printed open of the bar. The replay connection replays the actual open, high. low, and close of the bar, so you get filled at the actual open of the bar, not the printed open. On backtests, the fill is assumed to be at the printed open, like the open of a candlestick bar, rather than the actual real time open. Over the span of a backtest, even for a day's data for 4 tick Renkos, the results for standard Renkos are significantly better than what you would actually experience if real time. I did not fully appreciate this until I began using the SiBacktest Renkos.
Jeremy Tang, Founder of SharkIndicators, and Keith Wolf, Support at SharkIndicators, will be monitoring this thread so that they may answer any questions that you post here relating to SharkIndicator's products and services.
SharkIndicators has …
In addition, Shark has made available the following Elite Offers:
It is my pleasure to welcome Jeremy Tang @ SharkIndicators for our 382nd webinar event, on Tuesday, April 28th @ 4:30 PM Eastern US.
The title for the event is "Lessons from a Veteran NinjaScript Developer", and bullet points include:
- Watch master developer Jeremy Tang code a NinjaScript indicator from scratch
- Tips and tricks on how to structure your indicator and make it organized and customizable
- How to develop your trading system using an alternative that requires no coding
- In depth Q&A, bring all your questions!
I just went to their YouTube channel ([yt]https://www.youtube.com/user/sharkindicators/videos/[/yt]) and didn't see this class, which I wasn't able to attend.
Does anyone have a link to their class replay either on their site or on NexusFi?