Renko bar is definitly finished and displayed on the graphic

• 10/15/2023 at 6:30 PM #222483
  YvesRobert

  Hello to everybody. I trade with renko bars. Is it possible to know when a renko bar is definitely finished and has been displayed on the graphic and when the price is come back on this renko bar it does not disappear ?

  For example let’s take a 5mn TF. You can have sometimes more than 20 renko bars up or down within the 5 mn, and they all could be invalidate because the price (the 5mn candle) is not finished.

  How can you find a solution to avoid this with a code ?

  Thank you

  

  YvesRobert

  Participant

  Topics: 1

  Replies: 32

  Been thanked: 1 time
  10/16/2023 at 8:41 AM #222486
  Nicolas

  You must use the "tick data" option (i.e. the maximum price reached), see attached image, of the 5-minute candle to calculate the candles, otherwise if you use the "historical data", i.e. the Close of each candle of the timeframe (i.e. the current price in real time), then until the 5-minute candle is finished we would not be able to know the closing price and therefore the calculation of the renko candles which are contained in this 5-minute candle. According to it it does not make sense to use an ordinary timeframe to apply a renko calculation to it, it is more appropriate to use a tick chart because this will only use the movement of the price and not the passage of time .

  

  Nicolas

  Keymaster

  Topics: 81

  Replies: 20863

  Been thanked: 4774 times
• Author
  Posts