Support Board
Date/Time: Thu, 16 Jan 2025 12:06:57 +0000
Post From: need Renko bar with wicks!!
| [2017-10-24 05:10:43] |
| User68474 - Posts: 201 |
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As I stated in my first post to this thread,(though not looking for or expecting sympathy!) 11 months and hundreds of hours of hard work have been devastated and torn asunder by whatever you have done to change the basic "Renko Bar (in ticks)" Bar Period Type/"Renko Brick with Wicks" Graph Draw Type. My customized studies (some with 3rd party expense) were highly dependent upon "Up/Down" bars/bricks with the typical assumption that an Up Bar/Brick had a Close> Open, and a Down Bar/Brick had Close < Open and, by SC default, would be graphically colored as such, as it always was. More importantly, the open/close numbers from my Compact Tools Value Window would always confirm that (not that it really needed confirmation, SC simply defaulted to whatever the chosen graphic color one had chosen for "Up Bar/Down Bar respectively.) I based my conceptual strategies and thus my condition formulae upon that most basic, typical consistency. The "high" of a green upbrick was always the "last/close"(by definition could not have a "wick" on that high), and conversely, the low of a down brick was always consistently the "last/close"(no wick on the low). I have no idea why you chose to make changes to this format. I've gleaned some phrases from your responses to other subscribers' queries to the effect of eliminating "price manipulation", I (can only)guess to satisfy other subscribers' demands for "exactness" or "true and accurate" representation of the "underlying data" used to form the bricks. I "want" to also assume that you are aware of the historical derivation of "Renko" and the prominent reason it has become re-popularized. Traders who obsess for more and more "detail" and data, as it has become more technologically possible, have a plethora of other chart styles and intervals with their "magic" indicators that fit those needs if they so wish(contrary to what many of the successful traders who make up the estimated 5% successful long term traders advise, but that remains a separate topic). Much of your business and efforts are to satisfy that desire. Renko's prime benefit is precisely NOT to "fine-tune" and "time" entries and exits on an ever diminishing timeframe. It is to give a "Gestalt" of trends and reversal of trends on a broader basis, and, if one wishes to add some other kind of helpful refinement, so be it. Many "discretionary" vs. "rules-based" traders have flocked to Renko. But to "deconstruct" the essence of traditional Renko up/down bricks to the point where those bricks are even "mis-painted" graphically, is hard to fathom. I present in the accompanying attached screenshots, two (2) Random Samples of 80 bricks apiece, of the basic Renko Bar/Renko Bricks with Wicks from new Version 1626. I have applied "Color Bar Based upon Alert Condition" with Red Triangles Down for Condition True for Close< Open and Green Triangles Up for Condition True Close> Open. This, obviously, is not for some "strategy", but only to demonstrate the following point: This Random Sample #1 shows 14 out of 81 (17%) Renko Bricks which, though appearing to be typical "up" or "down" bricks, are actually, confusingly, the opposite. These errors actually occur precisely at many "swing" vertices!They do NOT print the same way in earlier Versions. What have you done?? A green up brick should print green and a red one red. In the new Version of "Renko Bar with Wicks" , Random Sample #2 shows that 20 out of 80 (25%) Renko Bricks are now mistakenly (by default) graphically printed(i.e. a traditional UP bar/brick, defined as Close > Open (alerted by green up triangle), was painted Red, and, conversely, a DOWN bar/brick, defined as Close < Open (red down triangle), was painted Green. Such a shame. If you actually are responding to and are catering to an overwhelming demand to change this format, I must defer to that, out of reason, but I'd also like to plea for myself, and maybe a few others out there, who, perhaps, and probably not for the exact same reasons as I, but for their own reasons. would at least like the option, somehow, of choosing, maybe by some kind of drop down/clik-on option, to be able to still use the older, traditional version of Renko with Wicks, while still keeping up with the overall Sierra Charts Updates (i.e. not having to revert back to 1620 forever). I'd appreciate your taking this into consideration. http://www.sierrachart.com/image.php?Image=1508819565385.png http://www.sierrachart.com/image.php?Image=1508818482257.png |