What's the difference between renko bars and range bars/sticks? They seem to fulfill the same purpose.

From my understandung, Renko bars is just painting based on trendiness, it is like TTMTrend. Range bars are like Volume bars, Tick bars etc. Range bars gives better view on extensive price movements. It is personal preferences, some traders are more sensitive to time, others to price range

Quoting 

From my understandung, Renko bars is just painting based on trendiness, it is like TTMTrend. Range bars are like Volume bars, Tick bars etc. Range bars gives better view on extensive price movements. It is personal preferences, some traders are more sensitive to time, others to price range

I totally disagree with you, but it's just me...

roonius 

I totally disagree with you, but it's just me...

Roonius, I'd like to hear how you describe them. I've heard them called bricks but what is your interpretation of them and how they are built and used?

Mike

record100 

From my understandung, Renko bars is just painting based on trendiness, it is like TTMTrend. Range bars are like Volume bars, Tick bars etc. Range bars gives better view on extensive price movements. It is personal preferences, some traders are more sensitive to time, others to price range

Big Mike 

Roonius, I'd like to hear how you describe them. I've heard them called bricks but what is your interpretation of them and how they are built and used? Mike

Renko's purpose is to filter out the noise.
It is nothing like TTM trend or tick bars or volume bars.
I just took two screenshots of 5 tick renko and range bars of the same time range.
It's up to you to decide which looks "cleaner

Sorry, my reply was totally wrong, I was thinking about Heiken Ashi bars

renko bars are great for filtering noise and keeping you in a longer term trend but as with any form of sampling you are sacrificing signal fidelity and low latency for smoothness so be careful when selecting your sampling frequency (range).

i have a futures strategy which uses roonius' implementation of renko bars with great success ( btw thanks roonius :P )

i find that renko is counterproductive on forex however where there is much more noise, you have to take on too much lag to filter most of it out and then you also miss out on the 'tradeable noise'

on forex i like 'point original' bars, which are basically just range bars without the extra spacing ticks in between.

Point Original Bars for [AUTOLINK]Ninjatrader[/AUTOLINK] :: Move the Markets :: Entries ::

RJay 

Point Original Bars for [AUTOLINK]Ninjatrader[/AUTOLINK] :: Move the Markets :: Entries ::

Thank you. I have added this to our download section:
View Download Details - [AUTOLINK]Big Mike Trading[/AUTOLINK] Forum

Mike

i agree with roonius on this one its not even close to the same as the ttm...sharky