Renko charts in Stocksharts are by time frame i.e. 5 min, 1 min,
60 min etc. In Tradestation and Multicharts, they use true Renko
charts and are not by time frame, but by point value only,
therefore while you might get them to look close, you can't not
directly compare Stockchart.com Renko charts to Tradestation or
Mulitchart Renko charts.
I've heard that Tradestation's new release will allow you to go
back further in time with Renkos, and I think Multicharts is also
getting ready to release a new version that also addresses some
Renko changes/fixes
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renko charts in multicharts
Posted by vsunil on 20th of Apr 2010 at 02:37 pm
Matt,
Can we draw these renko charts in multicharts? I am not able to recreate the same chart of yours in multicharts. Thanks.
Renko charts in Stocksharts are
Posted by matt on 20th of Apr 2010 at 02:47 pm
Renko charts in Stocksharts are by time frame i.e. 5 min, 1 min, 60 min etc. In Tradestation and Multicharts, they use true Renko charts and are not by time frame, but by point value only, therefore while you might get them to look close, you can't not directly compare Stockchart.com Renko charts to Tradestation or Mulitchart Renko charts.
I've heard that Tradestation's new release will allow you to go back further in time with Renkos, and I think Multicharts is also getting ready to release a new version that also addresses some Renko changes/fixes