Renko == Range bars, was: absence of Renko

AmiBroker
1

Hi.

Could you please tell me why does Renko Chart is not available on Amibroker? Is there any technical issue behind this? Is there a possibility that it will be available in a future version?

Thanks.

2

Go to AFL Library and search for Renko
http://www.amibroker.com/members/library/list.php

3

Thanks awilson.

As Renko Chart doesn’t exist in Amibroker, I tried to create it by using the proposed code. However, the prices I got when using this code does not corresponde to the prices in the temporal charts… For instance, in the temporal chart I am using, the most recent price is 69,630. If I turn on a Renko toggle, the price plummets to 67,165. Did anyone have this problem? Any idea on how to solve it?

Thanks

4

Renko charts ignore time and focus solely on price changes that meet a minimum requirement.

Comparing it to current price, does not make much sense.

2 Likes
5

@claudio_coutinho Of course @awilson is correct about not comparing time bars to Renko bars.

I don't know if these codes are the same but there are also afl Renko codes in articles listed in this post,

http://forum.amibroker.com/t/renko-and-heikenashi-indicators/956/2

6

Assumptions are NOT facts.

The facts are that Renko bars are basically just RANGE bars. It is 100% the same concept. And Range bars ARE available in AmiBroker.