Support Board
Date/Time: Mon, 16 Jun 2025 20:30:37 +0000
[User Discussion] - changing a time based to renko chart
View Count: 508
| [2025-04-12 14:21:23] |
| Siamak Yektafar - Posts: 9 |
|
i want to have a 4 hr chart but in renko . i dont want to change the (BAR PERIOD VALUE) i need that to stay in 0-240-0 BUT the graph draw type be in RENKO. when i do that the chart doesnt load correctly. it only works if i also change the bar period type to Renko bars in ticks. BUT i dont know what a 4 hr chart renko brick size is. can you plot a 4 hr chart with RENK bars showing in sierra? |
| [2025-04-13 20:10:15] |
| Sierra_Chart Engineering - Posts: 19938 |
|
This is not supported and we do not even know how this is possible. You can certainly change the graph draw type to what you require: Graph Draw Types Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2025-04-14 21:08:20] |
| Siamak Yektafar - Posts: 9 |
|
if you look at this viedo fast forward to 6:45 you see that he has a 4 hr chart and the bars are RENKO. that is trading view. can i do that in sierra? https://www.youtube.com/watch?v=mz4afawZY6c |
| [2025-04-15 04:46:11] |
| Sierra_Chart Engineering - Posts: 19938 |
|
They look like fixed time-based candlestick bars to us. So you just need to set the chart bars to candlesticks: Graph Draw Types: CandleStick Bars Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2025-04-19 22:17:33
|
| [2025-04-15 14:29:08] |
| Sawtooth - Posts: 4227 |
|
They look like Renko candlesticks to me. However, none of SierraChart's Renko bar options have a time component. So it seems the bars in the video would not be able to be reproduced in Sierra. |
| [2025-04-15 14:46:31] |
| Siamak Yektafar - Posts: 9 |
|
in sierra, i see there is an unsupported Renko in studies. any idea ? |
Attachment Deleted.  image000000.jpg / V - Attached On 2025-04-15 14:45:04 UTC - Size: 466.27 KB - 113 views |
| [2025-04-15 15:34:53] |
| Sawtooth - Posts: 4227 |
|
i see there is an unsupported Renko in studies.
The is also no time component in the settings, but you can place it on a 240 min chart.This won't be exactly the same, but close. Date Time Of Last Edit: 2025-04-15 16:42:48
|
| [2025-04-15 17:20:39] |
| Siamak Yektafar - Posts: 9 |
|
one last thing, when i apply that study, the bars keep going forward and erase and go backwards. very confused. please advise as this is very puzzling. if you put it on a 300 tick you can see what i mean. thanks again for your time |
| [2025-04-15 20:33:09] |
| Flawless Cowboy - Posts: 14 |
|
There seems to be some confusion here due to the different way TradingView defaults to calculating its renko bars. If you look in the video you posted you can see in the chart title "Renko[ATR(14),1]", what this means is that it is calculating the size of the renko bars based on a 14 period average true range (ATR) value of the symbol, in this case the value it comes up with is 1, this numeric value displayed after the comma is the size of renko bars being displayed on the chart. Knowing this you can use the functionality in Sierra to create renko charts in a similar way. Using a 4hr chart you can add the ATR study to it and use it to find the 14 period value and then divide that number by the symbol tick size and use that value as your renko bar size, eg if the ATR value is 1 then divide that by the tick size of WTI which is 0.01, 1/0.01=100 then you would use a value of 100 for your renko bars in Sierra. I hope this helps you with what you are wanting to achieve. |
| [2025-04-16 14:22:57] |
| Siamak Yektafar - Posts: 9 |
|
thanks for the reply. just to make sure, is this correct? for exp for ES tick size is 0.25, if atr is 51.50 the renko size is 51.50 divided by 0.25 which means RENKO size 206? is that right?
Date Time Of Last Edit: 2025-04-16 14:56:05
|
| [2025-04-16 14:35:40] |
| Flawless Cowboy - Posts: 14 |
|
Not quite, the ATR value you got is 51.5, the tick size of ES is 0.25, therefore the size of the renko bar would be 51.5/0.25 which is 206 not 13.
|
| [2025-04-16 14:56:47] |
| Siamak Yektafar - Posts: 9 |
|
got it. thanks
|
| [2025-04-19 19:41:41] |
| User61168 - Posts: 442 |
|
Not quite, the ATR value you got is 51.5, the tick size of ES is 0.25, therefore the size of the renko bar would be 51.5/0.25 which is 206 not 13. Hi Flawless Cowboy, Is there a way to automatically feed the ATR value (either via "based on" ATR study feature or via a spreadsheet formula study to generate the brick size? |
| [2025-04-19 22:18:36] |
| Sierra_Chart Engineering - Posts: 19938 |
|
Regarding our post #4, and also the response at post #5, now that we look at the video again, we do see that those are Renko bars in the video. Not sure what video we were looking at previously, but it apparently was a different video because we just saw ordinary fixed time candlestick bars. Definitely what we see now is different than what we saw before. Perhaps as the YouTube page was loading, we were clicking around to adjust resolution and size and may have accidentally clicked on another video. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2025-04-19 23:24:35
|
| [2025-04-20 06:24:58] |
| Flawless Cowboy - Posts: 14 |
|
I am sure it would be possible if you were able to write a custom study for it and it might be possible through the spreadsheet formula (bar) study, although I am not sure on that maybe Sierra Chart Engineering could comment if that study supports the logic necessary to implement renko charts. I don't know how it would be implemented but I think that there are quite a few issues with something that automatically adjusts the block size, will it just adjust the latest block to the desired size or will it adjust all the other historical bars to the current size as well? If it does alter all the other historical bars then you have distorted those bars from their calculated values, making any analysis you wanted to on them pointless. If your chart constantly changes with the creation of a new bar especially on a renko chart where most trading systems are based upon the bars themselves and how they open or close in relation to past bars, any dynamic aspect posses a massive issue for consistency in how these type of systems work. Date Time Of Last Edit: 2025-04-20 06:26:14
|
| [2025-04-20 07:04:23] |
| User61168 - Posts: 442 |
|
will it adjust all the other historical bars to the current size as well thanks for your response. It should not affect any historical bars. Only the current bar based on volatility/atr and preserve (not repaint) the historical bars. I believe trading view can draw variable brick Renko based on ATR(nn). It’s primarily good for slow rangy to momentum/impulse breakout type entries.
|
| [2025-04-20 07:43:35] |
| Flawless Cowboy - Posts: 14 |
|
Are you sure TradingView does this? I do not have the plan that allows me to create renko on TradingView but I can find no documentation or evidence that suggests it does allow variable size blocks.
|
| [2025-04-20 07:55:47] |
| User61168 - Posts: 442 |
|
not sure about the variable size blocks but googling "volatility adjusted Renko Trading View" returns "in TradingView, you can adjust Renko charts for volatility by utilizing the Average True Range (ATR) setting. This method dynamically adjusts the Renko brick size based on the instrument's recent volatility, offering a more responsive view of price action" and this link https://www.tradingview.com/support/solutions/43000502284-renko-charts/ mentions the ATR based calculation method... Average True Range (ATR) — Uses the values generated by the Average True Range (ATR) indicator. The ATR is used to filter out the normal noise or volatility of a financial instrument. The ATR method automatically determines a good brick size. It calculates what the ATR value would be in a regular candlestick chart and then makes this value the brick size. p.s. I have never used Trading View. Date Time Of Last Edit: 2025-04-20 07:56:31
|
| [2025-04-20 08:39:38] |
| Flawless Cowboy - Posts: 14 |
|
I am pretty sure it is just calculating ATR and using that value to create a renko chart for the entirety of the data, so I am still sceptical that this is a good approach. Nonetheless this is something that would likely have to be custom built as I do not see a way to do this with the built in studies.
|
| [2025-04-20 09:05:58] |
| User61168 - Posts: 442 |
|
I think, instead of building the entire new chart via custom ASCIL, I just need a ASCIL study which would allow me to systematically modify the Chart Settings>Bar Period>Bar Period Value to a value generated via spreadsheet formula study. About 2.5 yrs back, I had asked an ASCIL developer if this was possible and his response at that time was "not supported by SC".
|
To post a message in this thread, you need to log in with your Sierra Chart account: