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The main things about Renko charts is that it takes time and loads of
thinking to get the logic correct to display a good chart. It is easy enough
to create a P&F chart, but Renko, and even the fixed range chart, contain
further logic loops to fill in any price gaps with additional stepped bars.
Then after that if the step size is not sufficiently large then you will not
have enough space on the X-axis to show the complete chart. Producing things
like this is not necessarily easy unless you happen to have an excellent
grasp of computer programming and that excludes me. It requires either
someone who wants the chart in the first place or who wants the challenge of
creating it.
Cheers,
Graham
http://e-wire.net.au/~eb_kavan/
-----Original Message-----
From: TaoTrader [mailto:taotrader@xxxxxxxxxxx]
Sent: Thursday, August 12, 2004 12:11 PM
To: amibroker@xxxxxxxxxxxxxxx
Subject: Re: [amibroker] Momentum Bars in AB ? Renko bars in AB?
I've inquired before here about Renko charts for AB, but didn't get a
response. I've not been successful in programming Renkos in afl (though my
skills are limited). I've come across some Metastock code (see below),
which may or may not work. Maybe somebody can take a stab at it in afl. It
would be greatly appreciated.
Gernot
Inputs: K(1),
vars:Brick(0) ,DN(0), UP(0), BricksUp(0), BricksDn(0);
If BarNumber = 1 Then Begin
Up = H;
Dn = L;
Brick = K*(H - L);
End;
If BarNumber > 1 then begin
If C > UP + Brick Then begin
BricksUp = IFF(Brick = 0, 0, Floor((C - Up)/Brick)*Brick);
UP = Up + BricksUp;
DN = Up - Brick;
BricksDn = 0;
End;
If C < Dn - Brick Then begin
BricksDn = IFF(Brick = 0, 0, Floor((Dn - C)/Brick)*Brick);
Dn = Dn - BricksDn;
Up = Dn + Brick;
BricksUp = 0;
End;
End;
Plot1(UP, "Up");
Plot2(DN, "Dn");
----- Original Message -----
From: Graham
To: amibroker@xxxxxxxxxxxxxxx
Sent: Wednesday, August 11, 2004 10:39 PM
Subject: RE: [amibroker] Momentum Bars in AB ? Renko bars in AB?
I have not come across the constant range bars before, so I will have a
look
and see if it is relatively easy to put together.
Renko would be similar in construction to P&F with modifications of course
Cheers,
Graham
http://e-wire.net.au/~eb_kavan/
-----Original Message-----
From: n7wyw [mailto:dennisljohnston@xxxxxxxxxxx]
Sent: Thursday, August 12, 2004 9:54 AM
To: amibroker@xxxxxxxxxxxxxxx
Subject: [amibroker] Momentum Bars in AB ? Renko bars in AB?
I want to have constant range bars like are described below: does
anyone know how to do it? eSignal and ensignsoftware charts can do
it but I want to do it in Amibroker. Also, eSignal can do renko
bars, does anyone know how to do that in AB?
Thanks
http://ensignsoftware.com/tips/tradingtips49.htm
Two articles in the Stocks, Futures & Options magazine
(www.sfomag.com) introduced a new charting concept. The first
article was 'Paradigm Shift Lights the Way to Momentum Bars' by
Desmond MacRae, SFO Feb 2003. The follow-up article was 'Momentum
Bars: The Sequel ...' by Desmond MacRae, SFO Apr 2003. These
articles describe a charting concept developed by Danton Long called
Momentum Bars.
Momentum Bars are basically constant range bars. The bars look like
standard chart bars with an open, high, low, close and volume. The
high-low range of each bar is constant. A new bar does not start
until a price tick is received that would exceed the fixed range of
the current bar. Momentum Bar charts have the following
characteristics:
Each bar is the same height because the range is constant.
The close of a bar is always at the high or low of the bar.
The open of a bar is always one tick below or above the close of the
preceding bar.
The time period covered by each bar varies.
All gaps are filled with inserted 'phantom' bars.
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