Renko Bars For ThinkOrSwim

[Shooters_Gotta_Shoot]

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!

 

[rad14733]

@Shooters_Gotta_Shoot I posted a reply to the same question HERE... I have copied it below...

Unfortunately the Renko Bar/Brick settings are not adjustable in TOS at this time, unlike how Renko Bars are handled on other platforms... On most other platforms you have a time setting which helps with the issues you described above...

 

[yamin2000]

hi
noob here
i found this code here .struggling to add atr to this code and even i tried upwork but no one answering me .
is it possible to be calculated by atr ?

i want to reach the same idea for this indicator in tradingview
https://www.tradingview.com/script/JJp5Eg3d-RS-Renko-Auto-Cloner-V0/


thanks

# Renko
# Mobius

input brickSize = 10.0;

def c = close;
def bricks = CompoundValue(1, if c > bricks[1] + brickSize
then bricks[1] + brickSize
else if c < bricks[1] - brickSize
then bricks[1] - brickSize
else bricks[1] , bricks[1]);

plot bricks_ = Round(Bricks/TickSize(),0) * TickSize();
def mortar = CompoundValue(1, if bricks_ != bricks_[1]
then bricks_[1]
else mortar[1], mortar[1]);
plot mortar_ = Round(mortar/TickSize(),0) * TickSize();
AddCloud(bricks_, mortar_, color.green, color.red, yes);
# End Code

i found some lines from forum too but i think its not correct



Code:
# Renko
# Mobius


input price = close;
input length =100;
input displace = 0;
def atr = ATR();

def c = close;
def bricks = CompoundValue(1, if c > bricks[1] + ATR
then bricks[1] +ATR
else if c < bricks[1] -ATR
then bricks[1] -ATR
else bricks[1] , bricks[1]);

plot bricks_ = Round(Bricks/TickSize(),0) * TickSize();
def mortar = CompoundValue(1, if bricks_ != bricks_[1]
then bricks_[1]
else mortar[1], mortar[1]);
plot mortar_ = Round(mortar/TickSize(),0) * TickSize();

# End Code

 

[JohnWick4]

hi
noob here
i found this code here .struggling to add atr to this code and even i tried upwork but no one answering me .
is it possible to be calculated by atr ?

i want to reach the same idea for this indicator in tradingview
https://www.tradingview.com/script/JJp5Eg3d-RS-Renko-Auto-Cloner-V0/


thanks

# Renko
# Mobius

input brickSize = 10.0;

def c = close;
def bricks = CompoundValue(1, if c > bricks[1] + brickSize
then bricks[1] + brickSize
else if c < bricks[1] - brickSize
then bricks[1] - brickSize
else bricks[1] , bricks[1]);

plot bricks_ = Round(Bricks/TickSize(),0) * TickSize();
def mortar = CompoundValue(1, if bricks_ != bricks_[1]
then bricks_[1]
else mortar[1], mortar[1]);
plot mortar_ = Round(mortar/TickSize(),0) * TickSize();
AddCloud(bricks_, mortar_, color.green, color.red, yes);
# End Code

i found some lines from forum too but i think its not correct



Code:
# Renko
# Mobius


input price = close;
input length =100;
input displace = 0;
def atr = ATR();

def c = close;
def bricks = CompoundValue(1, if c > bricks[1] + ATR
then bricks[1] +ATR
else if c < bricks[1] -ATR
then bricks[1] -ATR
else bricks[1] , bricks[1]);

plot bricks_ = Round(Bricks/TickSize(),0) * TickSize();
def mortar = CompoundValue(1, if bricks_ != bricks_[1]
then bricks_[1]
else mortar[1], mortar[1]);
plot mortar_ = Round(mortar/TickSize(),0) * TickSize();

# End Code

Take the word Code: out to of the statement or # it out. it completes then.
It looks like you have to add value to the some of the variables.
hope this helps.

 

[yamin2000]

Take the word Code: out to of the statement or # it out. it completes then.
It looks like you have to add value to the some of the variables.
hope this helps.

the code is working but i want to make sure it accurate atr data
or its just display some random number am not programmer

 

[JohnWick4]

Its working but what is the goal of the code? Do you know.

 

[yamin2000]

Its working but what is the goal of the code? Do you know.

i use renko with atr since tos they do not offer custom days

 

[yamin2000]

Well, I tried that this morning and it didn't work as expected... I replaced the bricksize with ATR() but it needed a multiplier and then it skewed the results to the point of not being useful... Not sure if I'll have time to delve deeper...

Mobius made this for me unfortunately it did not match the data from tradingview

i was looking for something like that

# Renko
# Mobius
# Bricks based on ATR

input ATR_Length = 14;
input ATR_Multi = 2;
input signal = HL2;

def h = high;
def l = low;
def c = close;
def ATR = Average(TrueRange(h, c, l), ATR_Length) * ATR_Multi;
def brickSize = ATR;
def bricks = CompoundValue(1, if signal > bricks[1] + brickSize
                              then bricks[1] + brickSize
                              else if signal < bricks[1] - brickSize
                              then bricks[1] - brickSize
                              else bricks[1], signal);
plot bricks_ = bricks;
def mortar = CompoundValue(1, if bricks_ != bricks_[1] then bricks_[1] else mortar[1], signal);
plot mortar_ = mortar;
AddCloud(bricks_, mortar_, color.green, color.red, yes);
# End Code

 

[Ninja Bull]

Hello everyone, can we have a Renko Chart on the TOS mobile app?

 

[MerryDay]

@Ninja Bull We don't have a large group of traders using the mobile app.
If you have loaded a Renko chart and it is not displaying properly, I would then say, "No, they don't work on mobile".

 

[earlyinout]

How can i def and plot the open price for rth only. maybe should have mentioned I was trying to use on a renko bar chart. Does that require something else in the script?

 

[MerryDay]

@earlyinout If you start reading from this point in the thread
https://usethinkscript.com/threads/renko-bars.223/page-2#post-41047
and then read all the following posts, you will get a better understanding of Renko and time.

 

[MagicQuotes]

To this Thread in an attempt to return all the great help from the community, I want to share this link for all users investigating Renko Charts * See below .. Price is King. Never forget. Price is King.

What Mobius has done with his compounding Renko indicator is give you q "tool box" template for you to then layer in any indicators that are not time based or volume based that your heart desires.. The Renko offers pure price action, so you can use such classic indicators like RSI, QuickStick, Momentum without being distracted by the Volume and Time idiosyncrasies, or the religious type zeal of order flow maniacs that populate the chat rooms and futures platforms... Here's an idea: Pull the plug on everything but Price with Renko. It could be easier on the eyes and on your pocketbook.
I frequently find by focusing on price action alone you can tune in to the tape action with much less distraction and noise... The market pace frequently "freaks out " the tape reader and if he sees a spike in volume at the end of an impulse trade and follows it, it all too frequently leads to fake reversals in this age of automatic trading.. Calm things down & remember that no one is being "paid" by volume or or how fast the candle moves. I am being paid by getting in at the Price! I LIKE and getting out at the PRICE I LIKE (emphasized $ PRICE- the money, my friends which I hope is why you trade)..
The religious like Zeal of the traders tracking cumulative volume delta, ticks, bid-ask differentials, volume grids.. blah blah blah- order flow guys can take you down a long rabbit hole from which you might never recover.. Just try to track a rabbit in their own price discovery , like the footprints in the market and you come up with little piles of turds.
I have no dog in any technical analysis fight. except to trade for Price profits, not ego satistaction. So let's have an open dialogue on how to hunt for profits USING PRICE! We can all take a time out at times from the Noise and look for the Signal- Price'
this link mentioned above is- in my mind, full of common sense- and you might start there.
https://renkotraders.com/renko-trading-basics/how-to-choose-the-best-indicator-to-use-with-renko/

This linkcovers the essential aspects of customizing your own Renko Charts on TOS. I have nothing to do with it, and I honor the source and copyright.
Best to all usethinkscript.com participants and observers . Sincerely MagicQuotes.
Happy Trails to U.