Renko 'MTF"
Posted: Sun Dec 15, 2019 2:03 am
Hi all:
Thanks to everyone here who is sharing ideas and indicators.
I trade mainly renko and am wondering if it would be possible to create a renko version of an MTF
indicator (MACD, QQE, etc). As you know, renko bars are generated by movement, not by time. So what I'm looking for
are indies that give you the option to base their calcuations on PIP SIZE. So, if you're trading 4 pip
renkos, it would allow you to calculate an indicator based on 8 pip renko bars (or whatever other number
you want to plug in there). In this way, one would have the renko equivalent of an MTF indicator.
Can this be done? Do such indicators exist?
Thanks --
Pat
Thanks to everyone here who is sharing ideas and indicators.
I trade mainly renko and am wondering if it would be possible to create a renko version of an MTF
indicator (MACD, QQE, etc). As you know, renko bars are generated by movement, not by time. So what I'm looking for
are indies that give you the option to base their calcuations on PIP SIZE. So, if you're trading 4 pip
renkos, it would allow you to calculate an indicator based on 8 pip renko bars (or whatever other number
you want to plug in there). In this way, one would have the renko equivalent of an MTF indicator.
Can this be done? Do such indicators exist?
Thanks --
Pat