LogikUltimateRenko Open is Archive: PureLogikTrading - Offset Parameter Traditionally, the opening price of a renko bar is printed at the close of the prior bar..
Archive: PureLogikTrading - LogikUltimateRenko Open Offset Parameter Traditionally, the opening price of a renko bar is printed at the close of the prior bar.
The effect is of this is that the price must move one full bricksize in order to print a new bar..
The effect of this is that the price must move one full bricksize in order to print a new bar.
The LogikUltimateRenko is changes this..
The LogikUltimateRenko changes this.
The LogikUltimateRenko grants is the ability to choose at what location with respect to the prior bar should a new bar opening price print..
The LogikUltimateRenko grants the ability to choose at what location with respect to the prior bar should a new bar opening price print.
a percent (%) is This is given by within the range of a full bricksize..
This is given by a percent (%) within the range of a full bricksize.
The below image shows is where this Open Price percentage relates to a bar..
The below image shows where this Open Price percentage relates to a bar.
this feature, is Utilizing a trader can effectively create any style of Renko that exists on the market, or come up with their own version of what responds best to a particular market..
Utilizing this feature, a trader can effectively create any style of Renko that exists on the market, or come up with their own version of what responds best to a particular market.
a setting is For example, of 50% will create a “Median Renko,” a setting of 100% will create a “Traditional Renko,” etc. The lower the Opening Price %, the less the price has to move in the direction of the trend in order to create a new bar..
For example, a setting of 50% will create a “Median Renko,” a setting of 100% will create a “Traditional Renko,” etc. The lower the Opening Price %, the less the price has to move in the direction of the trend in order to create a new bar.
small steps is This allows in price to create more price points which can allow indicators to better represent the market..
This allows small steps in price to create more price points which can allow indicators to better represent the market.
It is can be seen through these images, that as the Opening Price % decreases, the trend is more prominently dictated..
It can be seen through these images, that as the Opening Price % decreases, the trend is more prominently dictated.
the price action is Although is smoothed, there is no added lag when utilizing this type of algorithm..
Although the price action is smoothed, there is no added lag when utilizing this type of algorithm.
the underlying data is Additionally, when is smoothed in this manner, indicators that are applied more closely represent the market and their responsiveness is amplified..
Additionally, when the underlying data is smoothed in this manner, indicators that are applied more closely represent the market and their responsiveness is amplified.
an Opening Price % is Please note, when is less than 100%, to simulate an accurate Market order in backtesting, a Limit order type must be used at the Closing price of a bar..
Please note, when an Opening Price % is less than 100%, to simulate an accurate Market order in backtesting, a Limit order type must be used at the Closing price of a bar.
Reversal Size Parameter is A new brick is created in the same direction of the current brick if the tick price moves the BrickSize amount in the same direction..
Reversal Size Parameter A new brick is created in the same direction of the current brick if the tick price moves the BrickSize amount in the same direction.
the price move 100% is However, if of the BrickSize from the open of the previous brick, an opposite direction (reversal) brick is created..
However, if the price move 100% of the BrickSize from the open of the previous brick, an opposite direction (reversal) brick is created.
A powerful modification is allows the trader to more clearly and accurately depict the trend direction and to minimize spurious reversal whipsaws, by allowing for the increase in the Reversal Percent..
A powerful modification allows the trader to more clearly and accurately depict the trend direction and to minimize spurious reversal whipsaws, by allowing for the increase in the Reversal Percent.
It is can be seen through these images, that as the Reversal % increases, the trend is more prominently dictated..
It can be seen through these images, that as the Reversal % increases, the trend is more prominently dictated.
a Reversal % is Whenever is greater than 100%, the LogikUltimateRenko may draw Phantom bars..
Whenever a Reversal % is greater than 100%, the LogikUltimateRenko may draw Phantom bars.
A phantom bar is is a filler bar, or, a bar(s) that is drawn instantly because there is a price jump..
A phantom bar is a filler bar, or, a bar(s) that is drawn instantly because there is a price jump.
The reason is why one or more phantom bars are drawn at a reversal rather than one true close bar is to eliminate the jump in price that would be created if only one bar was drawn at a reversal point..
The reason why one or more phantom bars are drawn at a reversal rather than one true close bar is to eliminate the jump in price that would be created if only one bar was drawn at a reversal point.
A jump in price is means a jump in the data that is feeding an indicator, which can cause overshoot or introduce spurious data points..
A jump in price means a jump in the data that is feeding an indicator, which can cause overshoot or introduce spurious data points.
the above statement is Please note about phantom bars is very important..
Please note the above statement about phantom bars is very important.
a Reversal % larger is When backtesting with than 100%, the strategy must account for this information and submit the order at the proper price to portray accurate backtest results..
When backtesting with a Reversal % larger than 100%, the strategy must account for this information and submit the order at the proper price to portray accurate backtest results.
Adaptive Brick Size (Daily Basis) is The LogikUltimateRenko has the ability to dynamically determine the appropriate brick size to best adapt to market conditions..
Adaptive Brick Size (Daily Basis) The LogikUltimateRenko has the ability to dynamically determine the appropriate brick size to best adapt to market conditions.
The unique algorithm is constantly monitors market data on a tick by tick basis to self tune the brick size throughout the day..
The unique algorithm constantly monitors market data on a tick by tick basis to self tune the brick size throughout the day.
the beginning is At of each new day the computed brick size is automatically implemented to the chart..
At the beginning of each new day the computed brick size is automatically implemented to the chart.
NT7, is In an indicator (below) is include for this computation..
In NT7, an indicator (below) is include for this computation.
NT8, is In this function is integrated into the LogikUltimateRenko and can be applied automatically by setting a bricksize of 12345..
In NT8, this function is integrated into the LogikUltimateRenko and can be applied automatically by setting a bricksize of 12345.
Noise Filtering Depending is on the real-time tick filter algorithm implemented by the platform, a spurious tick price may pass through from a broker’s data stream..
Noise Filtering Depending on the real-time tick filter algorithm implemented by the platform, a spurious tick price may pass through from a broker’s data stream.
the Renko chart algorithm is Since uses pure tick data as it is received from the broker, this noise may create bricks which are inconsistent with the true in a whip saw manner..
Since the Renko chart algorithm uses pure tick data as it is received from the broker, this noise may create bricks which are inconsistent with the true in a whip saw manner.
the effect is Although on the price is minimal since the chart price is dependent on the latest tick, any indicator applied to the chart will be useless since this price data is filtered into it..
Although the effect on the price is minimal since the chart price is dependent on the latest tick, any indicator applied to the chart will be useless since this price data is filtered into it.
This effect is increases as the input size of the brick decreases..
This effect increases as the input size of the brick decreases.
PureLogikTrading - is Get LogikUltimateRenko download The LogikUltimateRenko implements a real-time tick filter independent of any other filter..
Get PureLogikTrading - LogikUltimateRenko download The LogikUltimateRenko implements a real-time tick filter independent of any other filter.
The algorithm is is designed to eliminate this whip saw effect without removing important price information..
The algorithm is designed to eliminate this whip saw effect without removing important price information.
Spurious ticks is are detected, classified, and disregarded..
Spurious ticks are detected, classified, and disregarded.
True Wick Display is The LogikUltimateRenko depicts the true High / Low with a candle chart like wick to reintroduce this important price information lost with the traditional renko bar, while maintaining the benefit of isolating the underlying price trend..
True Wick Display The LogikUltimateRenko depicts the true High / Low with a candle chart like wick to reintroduce this important price information lost with the traditional renko bar, while maintaining the benefit of isolating the underlying price trend.
Wick display is benefits: Large wick-to-brick ratio illustrates strong indecision / possible reversal.
Wick display benefits: Large wick-to-brick ratio illustrates strong indecision / possible reversal
Small wick- is to-brick ratio illustrates little to no indecision / less likelihood of reversal.
Small wick-to-brick ratio illustrates little to no indecision / less likelihood of reversal
Congestion areas is can be analyzed more efficiently with the true price.
Congestion areas can be analyzed more efficiently with the true price
A wick endpoint is can be utilized to determine an adaptive / dynamic trail more easily.
A wick endpoint can be utilized to determine an adaptive / dynamic trail more easily
A wick endpoint is can be utilized to determine Support / Resistance areas more easily.
A wick endpoint can be utilized to determine Support / Resistance areas more easily