New Renko System

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Viewing 15 posts - 16 through 30 (of 56 total)
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  • 02/19/2018 at 3:07 PM #63166
    Nicolas

    ok, so I coded a “volume only” renko bricks indicator (example with 1000 Volumes bricks). Now let’s try to build a simple moving average on it.

    02/19/2018 at 3:36 PM #63175
    juanj

    Attached is an example of what im trying to describe.

    You have two sets of bricks;

    • The first is representing increments in price (example every 100pts)
    • The second the corresponding increments in volume (example every 1000)

    We can then use a Moving Average for each to create a MACD.

    02/19/2018 at 3:41 PM #63178
    juanj

    Wow Nicolas, look at those beautiful divergence signals!

    02/19/2018 at 3:43 PM #63180
    juanj

    I have a feeling divergence between price and volume is going to be the key here!

    02/19/2018 at 5:38 PM #63194
    Nicolas

    Your examples on my last screenshot are not relevant .. We could spot divergences everywhere. Let’s see if I can build this Price/Volume MACD..

    02/20/2018 at 10:03 AM #63269
    Nicolas

    Quick update, finally achieve an SMA calculation on the Volumes boxes… Not so easy without arrays. The hard part is to find the best Volume size according to the current chart.

    Now I’ll do the same for the price renko bricks and then we could CALL them to build different kind of indicators, like the Volume/Price MACD we talked about or even a Volume/Volume MACD with different moving average periods .. etc.

    02/20/2018 at 11:13 AM #63276
    Nicolas

    Another update, above chart is Volume bricks, below is price one. They now do share a common scale, for easier comparison.

    2 users thanked author for this post.
    avatar Leo, avatar GraHal
    02/23/2018 at 7:39 AM #63612
    juanj

    Hi Nicolas, thanks for your work on this so far. Can you perhaps post the code here or in the library?

    02/23/2018 at 10:04 AM #63626
    Nicolas

    Please find them attached as 2 different indicators. Both are returning an SMA in their RETURN function, so it’s possible to CALL them to create comparison. But so far, I don’t know how to exploit the relationship between them.. How much Volumes per brick and for how many points? and because we don’t have any real information about how much Bid/Ask Volumes they are for each side.. I’d like you (and other people around!) to work on this please 😉

     

    03/11/2018 at 2:29 PM #65000
    Nicolas

    @Juanj

    So how’s it going with the indicators I made? Did you find something relevant?

    03/15/2018 at 12:50 AM #65318
    Real Pro

    Nicolas,

    I have a suggestion.  What about forming a new green(up) brick when:

    – volume >= volume in the previous up brick…and

    – price rise > x points

    [and vice versa for red bricks].

    03/15/2018 at 8:30 AM #65326
    Nicolas

    Good idea, but it will result of this kind of chart:

    When a new brick can’t be formed because of the last brick volumes condition, the current brick volumes will continuously accumulate and at the end, it results of a desynchronization between price chart and brick chart.

    03/15/2018 at 9:16 AM #65337
    Real Pro

    Understood, thanks.  Another idea – what about using a normal renko chart and drawing a horizontal line across from the peaks.  Maybe only have the lines shown is n green bricks have printed in succession, to prevent whipsawing.  Arrow to mark a buy signal, like so (attached).

     

     

    03/15/2018 at 9:23 AM #65339
    Real Pro

    if* not is

    03/15/2018 at 9:43 AM #65340
    Nicolas

    Identify peaks and troughs only if we had X consecutive bricks of the same color? Draw them until these levels are breached?

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