Scribd
Upload
580 views

Modified Renko Bars Manual

The document describes a modified Renko bar charting method that incorporates extreme price data as "tails" on standard Renko bars. This modified Renko bar is the same as those used in Woodie Bars and by other technical analysis companies. The document provides details on how the modified Renko bars work, including input parameters for configuring the bars and indicators to display with them, as well as contact information for questions.

Uploaded by

mattpatel
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
580 views

Modified Renko Bars Manual

The document describes a modified Renko bar charting method that incorporates extreme price data as "tails" on standard Renko bars. This modified Renko bar is the same as those used in Woodie Bars and by other technical analysis companies. The document provides details on how the modified Renko bars work, including input parameters for configuring the bars and indicators to display with them, as well as contact information for questions.

Uploaded by

mattpatel
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 3

Renko Modified Bars Description There is a new way of looking at the market that many have discovered which

uses Renko bars to determine market turns. However, this new addition includes extreme price data used as 'tails' on standard Renko bars. The modified Renko bar is the same as used for 'Woodie Bars,' used by Nexgen, and other companies. It has not been included as a chart type native to TradeStation up to now, and it is now presented here for you. Modified Renko Bars How They Work (Exploded view)

Top Inputs:

RenkoRangeTicks: Number of ticks upon which to calculate the modified Renko bars ShowTails: Toggles the display of bar tails ShowEMA: Toggles display of 55-period EMA ShowT3: Toggle display of Tillson T3 Adaptive Smoothing Average LongTriggerColor: Bar color when long trade is triggered ShortTriggerColor: Bar color when short trade is triggered LongContinuationColor: Bar color when a long trend continuation bar is triggered ShortContinuationColor: Bar color when a short trend continuation bar is triggered Offset: Used to make other charts trigger at the same levels. BarsToDisplay: Set to display the number of Renko Bars to show on the chart. (Note: A high setting may affect real-time performance.) MACD Inputs: Note: Make sure these settings match the top indicator inputs for accurate MACD display.

Legend:

Limitations: Time stamps are to be ignored. They represent the time of the underlying invisible tick chart time stamps, and not the actual Renko Bar time.

Contact information For questions or enhancement requests: Robert Graff [email protected]

You might also like