FEEDBACK
Custom Renko Bars Unpacked
Version 2
Beginning in TradeStation 9.5 update 10, there is a bar type called "Custom Renko." While this is a welcome addition to the native bar types found in TradeStation, you cannot use it create and back-test strategies. There is no way to look-inside-the-bar when back testing. Furthermore, the value give as the open for a bar is rarely the actual open price tick. This is because custom renko bars give a false open which is always one brick size away from the close regardless of the actual open price. Traders needed a way to look inside the renko bars to see the price activity within them. This indicator package uses a special function called _CustomRenko to address this need. This function can be used to plot Custom Renko Bars on top of tick charts, range bars, momentum bars or time-based minute charts. You can even plot multiple range Custom Renko Bars on top of the same chart. Most importantly, this function can be used to create strategies which can be back tested. *Futures Trading Ris...
Beginning in TradeStation 9.5 update 10, there is a bar type called "Custom Renko." While this is a welcome addition to the native bar types found in TradeStation, you cannot use it create and back-test strategies. There is no way to look-inside-the-bar when back testing. Furthermore, the value give as the open for a bar is rarely the actual open price tick. This is because custom renko bars give a false open which is always one brick size away from the close regardless of the actual open price.

Traders needed a way to look inside the renko bars to see the price activity within them. This indicator package uses a special function called _CustomRenko to address this need. This function can be used to plot Custom Renko Bars on top of tick charts, range bars, momentum bars or time-based minute charts. You can even plot multiple range Custom Renko Bars on top of the same chart. Most importantly, this function can be used to create strategies which can be back tested.

*Futures Trading Risk Disclosure: Trading future contracts carries a high level of risk and is not suitable for all investors. Before deciding to trade commodities Licensee agree to carefully consider his investment objectives, level of experience and appetite for risk. Loss of some, a significant portion or all or more of Licensee’s initial investment may occur.

Historically most position trading programs can have maximum draw downs that are equal to or exceed minimum margin required to trade. Two to three times the minimum capital in a portfolio will be needed to system trade should such a draw down in equity occur at the onset of trading.

Past performance does not guarantee future results. Trading futures has a risk of loss and only risk capital should be used.
What's New
Version 2
Modified Custom Renko Function so matching ticks are not required. Updated documentation

Version 1
Version 2
Modified Custom Renko Function so matching ticks are not required. Updated documentation

Version 1
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Developer
Requirements
Tradestation 9.5 (Update 22)
Asset Type
Stock, Future
Style
Intraday
Methodology
Trend
Analysis Techniques
Applications
Categories