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[User Discussion] - Auto enter/exit when Renko bar changes color

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[2015-05-27 00:06:18] #1 [Go To First Post]
User494576 - Posts: 2
Please advise how I can set the chart to enter/exit the trade automatically whenever a completed Renko bar changes color. Thanks.

[2015-05-27 03:21:48] #2 [Go To First Post]
Sawtooth - Posts: 3985
You would need to use the Spreadsheet System for Trading study, or a custom .dll programmed in ACSIL. If you use the spreadsheet study, the formula in cell K3 to enter long would look something like this: =AND(B4>E4,E3>B3) In cell M3, to enter short: =AND(B4<E4,E3<B3) Also, set the Signal Only On Bar Close (K,M) to Yes. This is a simplistic example for entries only. If you want to reverse positions at every color change, there are other settings. Start by reading the documentation on spreadsheet studies: http://www.sierrachart.com/index.php?page=doc/doc_SystemsAlerts.php

[2019-01-16 18:36:29] #3 [Go To First Post]
User871277 - Posts: 34
Above seems not to apply to Renko. Using spreadsheet all the Renko studies seem not to work, one f.e. gives on fast building Renkos only every second line a value. As described here Renko Bar Charts: Renko New Bar Mode ID0.SG22 and ID0.SG23 are Renko open and Renko close. The mentioned values by tomgilb would form the wicks (substracted by the two values below). Spreadsheet for trading unfotunatly can't access ID0.SG22 and ID0.SG23 Good Workaround is to use twice alert system Bar Color / Backroundcolor Study. Set Alert for Renko changing from Green to Red the following formula: AND(ID0.SG22<ID0.SG23[-1]) and from red too green the opposite: AND(ID0.SG22>ID0.SG23[-1]) Set the option "Alert only on bar close" That will give you either a 1 or a 0 on the spreadsheet. Trading that alone will make you poor. Date Time Of Last Edit: 2019-01-16 18:37:53

[2019-01-16 18:52:07] #4 [Go To First Post]
Sawtooth - Posts: 3985
Spreadsheet for trading unfotunatly can't access ID0.SG22 and ID0.SG23 A spreadsheet study can access those values if you add the Renko Visual Open/Close Values study.

[2019-01-16 20:31:01] #5 [Go To First Post]
User871277 - Posts: 34
Renko Visual Open/Close Values study doesn't work and gives different values. Problem like described, situations occur where Renko Visual Open/Close Values study only returns it's value on every second renko.

[2019-01-16 20:45:49] #6 [Go To First Post]
Sawtooth - Posts: 3985
You could use the Spreadsheet Formula (Bar) study to create bars using ID0.SG22 and ID0.SG23

[2019-12-24 02:34:33] #7 [Go To First Post]
J4yTr4der - Posts: 20
Old post now but, I'm trying to do exactly what you describe Tom and I can't manage to pull it off. How would you create renko bricks using that study? I can't get anything even remotely close. I want to be able to create a stop based on the open of the prior Renko brick. Tried using HH/LL of 1 period but it only plots the current brick and not the prior one, and also it often does not match up with the data on replay testing which has me very confused. Hoping a different approach to getting these values might do the trick. Thanks!

[2019-12-24 02:36:45] #8 [Go To First Post]
J4yTr4der - Posts: 20
Aha nevermind, it just requires BOTH the open and close formulas. I was trying to use the open only since that's the one I'm interested but obviously that won't work! Will see if this gets me closer to what I'm after.

[2020-03-07 02:37:26] #9 [Go To First Post]
marty_nv - Posts: 85
Hi tomgilb! Thank you for posting your formula above, post #2--exactly what I was looking for. In attachment one, I demonstrate a little conversion necessary. Whatever calculations SC uses to make data display properly may be seen in BCDE columns. But sometimes adaptation works well, as here so that we can manipulate data as needed for screen purposes. Your formula, adapted, provide exceptional turning points on any Heiken-Ashi or Renko style chart, a totally valuable trading tool, as shown in attachment 2 chart. You always provide exceptional information. Many thanks. Marty


PAT 200306 HA, Renko color direction example tomgilb.png / V - Attached On 2020-03-07 02:24:40 UTC - Size: 85.11 KB - 276 views PAT 200306 HA, Renko color direction example Chart tomgilb.png / V - Attached On 2020-03-07 02:25:57 UTC - Size: 103.1 KB - 284 views Attachment Deleted.

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