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Bill you will find the same with what I have produced. Bricks DO NOT
correspond to actual dates on the normal price chart, and if you look at the
3rd line of my chart it says it there. " // Custom Indicator, date axis
does not apply "
I think I have a better representation of it now in revD below. I will say
again I have no actual renko chart to compare what I am doing with. Examples
are fine and I followed the logic of it from sites like the equis, but it is
hard not to be able to compare as I go. Plus I have never used the renko
chart, so I have no "feel" for how it is supposed to look.
You will need to decide how you size the bricks yourselves.
Here is revD
Cheers,
Graham
http://e-wire.net.au/~eb_kavan/
// Renko Chart
// Graham Kavanagh 13 Aug 2004 ver D
// Custom Indicator, date axis does not apply
SetBarsRequired(10000,10000);
// Brick size is dependant on what you want, if too small will not produce a
chart due to insufficient x-axis bars
//Brick = LastValue( ATR(100) );
Brick = LastValue( Max(0.02*C, 0.02) );
reverse = 2;
// Convert the closing price to rising and falling rounded bricks
CF = ceil(C/Brick);
CR = floor(C/Brick);
// initialize first element
j = 0;
RKC[j] = CF[0];
RKO[j] = CF[0] + 1;
down[j] = 1; // By default the first bar is a down bar.
up[j] = 0;
// Loop to produce the Renko values in number of bricks
for( i=1; i<BarCount-1; i++ )
{
if( CF[i] <= RKC[j] - 1 && down[j] ) // Continue down
{
num = RKC[j] - CF[i];
for( x=1; x<=num; x++ )
{
j++;
up[j] = 0;
down[j] = 1;
RKC[j] = RKC[j-1] - 1;
RKO[j] = RKC[j] + 1;
}
}
else
{
if( CR[i] >= RKC[j] + Reverse && down[j] ) // Change down
to up
{
num = CR[i] - RKC[j];
j++;
up[j] = 1;
down[j] = 0;
RKC[j] = RKC[j-1] + 2;
RKO[j] = RKC[j] - 1;
for( x=2; x<=num; x++ )
{
j++;
up[j] = 1;
down[j] = 0;
RKC[j] = RKC[j-1] + 1;
RKO[j] = RKC[j] - 1;
}
}
else
{
if( CR[i] >= RKC[j] + 1 && up[j] ) // Continue Up
{
num = CR[i] - RKC[j];
for( x=1; x<=num; x++ )
{
j++;
Up[j] = 1;
Down[j] = 0;
RKC[j] = RKC[j-1] + 1;
RKO[j] = RKC[j] - 1;
}
}
else
{
if( CF[i] <= RKC[j] - Reverse && up[j] ) //
Change up to down
{
num = RKC[j] - CF[i];
j++;
Up[j] = 0;
Down[j] = 1;
RKC[j] = RKC[j-1] - 2;
RKO[j] = RKC[j] + 1;
for( x=2; x<=num; x++ )
{
j++;
up[j] = 0;
down[j] = 1;
RKC[j] = RKC[j-1] - 1;
RKO[j] = RKC[j] + 1;
}
}
}
}
}
}
// move the chart to right end of chart space, ie last brick on last bar
position
delta = BarCount-1 - j;
RKC = Ref( RKC, -delta );
RKO = Ref( RKO, -delta );
Up = Ref( Up, -delta );
Down = Ref( Down, -delta );
rC = RKC * Brick;
rO = RC - (Up-down)*Brick;
rH = Max(rC,rO);
rL = Min(rC,rO);
// plot chart
PlotOHLC( rO, rH, rL, rC, "Brick size = " + brick + "Renko Price =" ,
colorBlack, styleCandle);
GraphXSpace=5;
Title = "{{NAME}} - {{INTERVAL}} {{DATE}} - Renko Chart : Last Value = " +
RC + ", Brick Size = " + Brick;
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