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tihomir
2005.12.11 23:59
Hello,
Is it possible period conversation to Range Bars or Renko charts which is not based on time periods. I believe it is possible for someone to create a script convertor. If somebody is interested I will post calculations and formulas for modulations of such charts. This kind of charting shows smoother price movements. Wish you all the best, Tihomir N. |
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Jury Session Record of the 19th of November 2008 Several more Participants are out of the race. |
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Forex_Star
2008.02.17 06:39
Hi,
I would be interested in assisting. Please provide me with the calculations to determine whether i will be able to assist. Cheers, |
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MrH
2008.02.17 13:43
tihomir wrote:
Hello, Is it possible period conversation to Range Bars or Renko charts which is not based on time periods. I believe it is possible for someone to create a script convertor. If somebody is interested I will post calculations and formulas for modulations of such charts. This kind of charting shows smoother price movements. Wish you all the best, Tihomir N.
Renko charts in MT4 is exactly what I'm looking for: me not being a programmer is a problem, but maybe this article can assist? 'Equivolume Charting Revisited' In it, the bars are closed after a certain volume: like after 20 ticks the bars are closed. Now, instead of closing after 20 ticks (volume), the bars should be closed after 20 pips (price) up or down (or some other arbitrary number to decide the size of the renko "bricks"). I believe a lot of people are looking for this because what you say is true: price moves are smoother if you only look at direction, and not at time. A lot of nonlinearity could be excluded and almost all indicators and trading systems should work better on renko than on normal bars.
http://codebase.mql4.com/en/691 this is where they've made the custom indicator renko, but it should be in the bars of the chart itself, not in a custom indicator: if anyone could provide something like that it would be much appreciated. http://www.forex-tsd.com/186572-post12.html this is similar: not in the bars of the chart, but as an indi, but it doesn't come with source code. |
