TOS Renko bar ATR not working properly

BC Trading

New member
I am having issues with the TOS Renko bar ATR option in charts. The charts do not plot ATR, every candle is the same height. Additionally, there doesn’t appear to be any way to choose between using the 1 hour ATR vs the 1 day ATR. Also, the ATR charted varies with the length of the chart (if you are using a 30-day chart vs a 3-year chart) instead of using the 14-period average. Does anyone know how to fix this or if there is a thinkScript I could use to actually chart ATR Renko bars? Thanks
 

halcyonguy

Well-known member
VIP
Lifetime
I am having issues with the TOS Renko bar ATR option in charts. The charts do not plot ATR, every candle is the same height. Additionally, there doesn’t appear to be any way to choose between using the 1 hour ATR vs the 1 day ATR. Also, the ATR charted varies with the length of the chart (if you are using a 30-day chart vs a 3-year chart) instead of using the 14-period average. Does anyone know how to fix this or if there is a thinkScript I could use to actually chart ATR Renko bars? Thanks

i think you are confused.

the definition of renko is bars, is they all have the same height...
... so atr numbers will all be the same...
https://www.investopedia.com/terms/...xt=A Renko chart is a,like a series of bricks.
 

BC Trading

New member
i think you are confused.

the definition of renko is bars, is they all have the same height...
... so atr numbers will all be the same...
https://www.investopedia.com/terms/r/renkochart.asp#:~:text=A Renko chart is a,like a series of bricks.
There is an option to set Renko bars to build at the ATR of the stock instead of a set 100, 200 ticks etc.. Correct me if I'm wrong, but my understanding is that the Renko bars should then build to the height of the current ATR. This makes the height and number of Renko bars relative to the range of the stock price instead of a set $ amount. This is valuable if you are scrolling through a watchlist given that a 200 tick movement is totally different for a $30/share stock than it is for a $300/share stock. TOS does not seem to work in this regard. Also there is no option to set whether you want to use daily ATR, hourly ATR etc.
 

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