Exit indicators for renko?

rj3137

New member
Anyone use exit indicators for renko? One renko bar going in the opposite direction means its a loss of 2 boxes, which can definitely hurt profits. It'd be great if there was an indication of a box reversal to take the profits before that 2 box loss.
 
Entries and exits with Renko Bars are totally up to personal preference... One bar or two bars of reversal for entry and exit are common criteria, as is the choice of ATR vs Tick count for bar paints... An ATR of $0.11 equates to a $22.00 difference in profit compared to 2 to 5 ticks if using two bars... Only you can decide what settings fit within your trading style...

I use other indicators along with Renko Bar movement to determine entry and exit... I also set my profit goals and have no regrets over leaving money on the table because I'd rather leave some behind than lose even more when the trade plays out in a given direction and reverses... Don't get caught trying to catch falling knives... Trying to get in too early and hang on too long is just a recipe for disaster... It took me a while to get comfortable with that concept... Now I prefer to take my piece of the pie out of the middle rather than letting greed come back to bite me in the ***... YMMV... ;)
 
Fair enough, makes sense. I appreciate the advice
The more I have been testing the Half Trend Scalper on an Amplitude of 1 and a fixed brick size of 10, it has produced great results. I have come to the conclusion that nobody has a clue what will happen any minute of the day. Even when things seem obvious, they end up turning on you. So the "all or nothing" approach seems to work best right now for me. Participate in all the trades the half trend scalper presents and because it will flip when the trend changes, your losses are essentially capped. I believe all of mine are capped at -$30 just due to the nature of the half trend scalper.
 
This may not be possible but wanted to see if anyone knows if it is...

So when you use Renko Charts on TOS it seems that the first 9 days of your time frame is a lot more choppy, then day 10 and beyond is way smoother. I don't use the ATR setting (I use a fixed brick amount), but it seems that the program is using the ATR settings even if you don't want them.

This is TOS's explanation:

If ATR is selected as the aggregation period, the bars from today are excluded from the calculation and midnight Central Standard Time (CST) is used to demarcate today's bars from yesterday's bars. In addition, ATR calculation is adjusted based on the chart time interval you are currently using:
  • If the time interval is less than or equal to nine days, ATR is calculated over seven last astronomical days based on one-minute price aggregates.
  • If the time interval is less than or equal to 150 days, ATR is calculated over 7 last astronomical days based on 1-hour price aggregates.
  • If the time interval is greater than 150 days, ATR is calculated over the last 14 astronomical days based on 1-day price aggregates.

So even when I use a fixed brink amount and not the ATR, the program still applies the settings above. When I select 10, 30, or 90 days the first 9 days are way choppier because it seems that it is pulling data from the "one-minute price aggregates" (refer to the 1st bullet point above), but then day 10 and beyond is pulling data from the "1-hour price aggregates" (refer to the 2nd bullet point above). The data is SO much smoother when it pulls from the "1-hour price aggregates" and was wondering if it would be possible for the Renko Chart to ONLY pull from the "1-hour price aggregates" instead of pulling from multiple price aggregates depending on how many days it is from the present time.

I have looked all over the application to try and change this. None of the settings seem to address this issue. I called the TOS help desk to see if they could answer this question, but they are convinced that this is programmed into the internal program of TOS. Even though I'm not using the ATR, the program is still applying it's format of how it is pulling the data for the charts. The TOS help desk said they are talking to the programmers of TOS to see if they can get an answer or even fix the problem.

I guess after writing this out my question is "how to change the price aggregates that Renko Charts pull their data from?" It just seems that TOS programmed like this for the ATR setting, but still applies to the fixed amounts because the programmers didn't separate them. Would it be possible to separate them and tell TOS that you want to pull data from 1-minute, 1-hour, or 1-day price aggregates? It seems that this is possible in other trading platforms, but not TOS.

Any help is appreciated! Thanks everyone!
 

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