Support Board

Date/Time: Sun, 19 May 2024 23:56:42 +0000

Post From: COUNTDOWN TIMER

[2018-07-16 22:56:58] Link To Thread - Link To Post [Go To First Post]
Xfanman1 - Posts: 320
Excuse my ignorance if I'm wrong....but, a 4 tick Renko bar will form a new bar (depending on which Renko type you are using and your settings) every 5th tick unless you have a reversal candle requiring a larger move. Since price doesn't move in just one direction, what do you wish a Countdown Timer to count? The bar itself is a countdown of sorts. Price could go up 3 ticks, come back 2 ticks, go back up 2 ticks, come down 3 ticks and so on for a period of time all without forming a new bar. It could also reverse at any time. Would your countdown be going Up/Down/Up/Down also? What would that accomplish? Time, Ticks and Volume all count and accumulate something. Time can countdown the seconds left on a 1 minute bar, Ticks can countdown the number of ticks remaining in your 233 Tick chart until a new candle forms, Volume can count down until the target volume of your volume candle is filled. These are all linear measurements. Renko is not linear in the sense that as price moves back and forth there is no accumulated amount to measure(edit: I guess you could accumulate the total number of ticks moved before forming a new bar if that had any value), just a non-linear price movement of (in your case) 4 ticks. -- Scott Date Time Of Last Edit: 2018-07-16 23:09:03