{"id":501,"date":"2012-06-21T14:59:43","date_gmt":"2012-06-21T18:59:43","guid":{"rendered":"http:\/\/www.innovative-trading-solutions-online.com\/new\/?page_id=501"},"modified":"2023-04-30T17:45:05","modified_gmt":"2023-04-30T21:45:05","slug":"renkospectrum-charts","status":"publish","type":"page","link":"https:\/\/www.innovative-trading-solutions-online.com\/new\/renkospectrum-charts\/","title":{"rendered":"NinjaTrader RenkoSpectrum Bar Chart"},"content":{"rendered":"

RenkoSpectrum Bar Chart<\/strong> 2.0<\/del>\u00a0<\/strong> with Synchronization Feature\u00a0 <\/strong>
\n<\/strong><\/span><\/h1>\n

***<\/strong><\/h2>\n

This Chart uses two independent Renko Tick Values to create each unique chart.<\/strong><\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Click on images below for zoom view<\/span><\/h2>\n

New \u2013 This bar chart is now viewed using three Customed Chart Styles <\/strong><\/span><\/p>\n

.<\/p>\n

Chart Style – <\/strong><\/span>RJay Classic Candles<\/strong><\/span><\/p>\n

\n
\n

.<\/p>\n

RenkoSpectrum<\/span><\/strong> – 6\u00a0 – 2<\/strong><\/span> \u00a0<\/strong>\u00a0 \u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 RenkoSpectrum – 8\u00a0 – 1<\/strong><\/span> \u00a0\u00a0\u00a0 \u00a0 \u00a0\u00a0 \u00a0\u00a0 <\/strong>RenkoSpectrum – 12 – 3<\/strong><\/span>
\n<\/strong><\/p>\n

\"RenkoSpectrum2<\/a>\u00a0 \"RenkoSpectrum2<\/a>\u00a0 \"RenkoSpectrum2<\/a><\/p>\n

.<\/div>\n
\n

Chart Style – <\/strong><\/span>RJay XRay Candles
\n<\/strong><\/span><\/p>\n

.<\/p>\n

RenkoSpectrum<\/span><\/strong> – 6\u00a0 – 2<\/strong><\/span> \u00a0<\/strong>\u00a0 \u00a0 \u00a0\u00a0\u00a0 \u00a0 \u00a0 RenkoSpectrum – 8\u00a0 – 1<\/strong><\/span> \u00a0\u00a0\u00a0 \u00a0 \u00a0\u00a0\u00a0 \u00a0\u00a0 <\/strong>RenkoSpectrum – 12 – 3<\/strong><\/span>
\n<\/strong><\/p>\n

\"RenkoSpectrum2<\/a>\u00a0 \"RenkoSpectrum2<\/a>\u00a0 \"RenkoSpectrum2<\/a><\/p>\n<\/div>\n

<\/div>\n

.<\/p>\n

Chart Style – <\/strong><\/span>RJay Classic Candles
\n<\/strong><\/span><\/p>\n

.<\/p>\n

RenkoSpectrum<\/span><\/strong> – 8\u00a0 – 4<\/strong><\/span> \u00a0<\/strong> \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 RenkoSpectrum – 13 – 5 <\/span>\u00a0\u00a0<\/strong> \u00a0\u00a0 \u00a0 \u00a0\u00a0 <\/strong>RenkoSpectrum – 25 – 10<\/strong><\/span>
\n<\/strong><\/p>\n

\"RenkoSpectrum2<\/a>\u00a0 \"RenkoSpectrum2<\/a>\u00a0 \"RenkoSpectrum2<\/a><\/p>\n

.<\/p>\n

Chart Style – <\/strong><\/span>RJay XRay Candles
\n<\/strong><\/span><\/p>\n

.<\/div>\n

RenkoSpectrum<\/span><\/strong> – 8\u00a0 – 4<\/strong><\/span> \u00a0<\/strong> \u00a0 \u00a0\u00a0\u00a0\u00a0 \u00a0 RenkoSpectrum – 13 – 5 <\/span>\u00a0\u00a0 \u00a0<\/strong> \u00a0\u00a0\u00a0 \u00a0\u00a0 <\/strong>RenkoSpectrum – 25 – 10<\/strong><\/span>
\n<\/strong><\/p>\n

\"RenkoSpectrum2<\/a>\u00a0 \"RenkoSpectrum2<\/a>\u00a0 \"RenkoSpectrum2<\/a><\/p>\n

.<\/p>\n

(Click on images\u00a0 for larger view. Click on image to advance to next image.)<\/p>\n

.<\/p>\n

Renko Spectrum Chart Description<\/strong><\/span><\/p>\n

This\u00a0 RenkoSpectrum Bar Chart utilizes a two variable system.<\/p>\n

Each variable is calculated independently from the other.<\/p>\n

Both variables are calculated directly from instrument price ticks.<\/p>\n

.<\/p>\n

Variable One \u2013 Chart Bar Body Synchronizer
\n<\/strong><\/span><\/p>\n

Description for\u00a0 Bar Synchronization Option, Select Following Link <\/strong><\/span><\/p>\n

https:\/\/www.innovative-trading-solutions-online.com\/new\/chart-bar-body-synchronizer<\/span><\/strong><\/span><\/a><\/p>\n

.<\/p>\n

Variable Two \u2013 New Bar Renko<\/strong><\/span><\/p>\n

This variable determines when a new bar is to be created.<\/p>\n

This occurs when the prior bar\u2019s ends in either direction is exceeded by\u00a0 New Bar Renko number on the current bar.<\/p>\n

.<\/p>\n

Variable Three \u2013 Bar Body Renko<\/strong><\/span><\/p>\n

This variable sets the number of instrument price ticks for the bar body height.<\/p>\n

This adjustment\u00a0 determines how many ticks of \u201cprice movement\u201d is absorbed into the bar body height.<\/p>\n

.<\/p>\n

Advantages:<\/strong><\/span><\/p>\n

RenkoSpectrum is highly flexible dual Renko system. It can replicate RenkoHybrid and ChannelTrend<\/p>\n

chart settings, as well as many other combinations of possible bar settings.<\/p>\n

( If you already own RenkoHybrid or ChannelTrend, contact me for a special discount price to purchase this product.)<\/p>\n

There are no restrictions on the Bar Body Renko height settings. You can set either odd or even number<\/p>\n

height settings. (RenkoHybrid allows only even numbers.)<\/p>\n

The New Bar Renko setting allows you to choose how responsive the chart will be by selecting how many<\/p>\n

price ticks the market moves before a new bar is created.<\/p>\n

.<\/p>\n

Please Note:<\/strong><\/span><\/p>\n

The closer the two Renko Values are to each other, the less trend price noise\u00a0 is absorbed in each displayed price bar,<\/p>\n

and the more price noise is added back to the chart.<\/p>\n

It is suggested that new bar Renko value be about\u00a0half the bar body Renko value or less to ensure adequate<\/p>\n

amount of\u00a0price noise absorption for a cleaner looking chart.<\/p>\n

.<\/p>\n

Secondary Series Information ( Ninjatrader 7 Only)
\n<\/strong><\/span><\/p>\n

This product can now be used as a secondary chart series in Indicators and Strategies.<\/p>\n

Code Examples are as follows…<\/p>\n

RenkoSpectrum\u00a0 6 – 2\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0 >>>\u00a0\u00a0\u00a0\u00a0\u00a0 Add(PeriodType.Custom4, 6002);<\/p>\n

RenkoSpectrum\u00a0 12 – 4 \u00a0\u00a0\u00a0\u00a0\u00a0 >>>\u00a0\u00a0\u00a0\u00a0\u00a0 Add(PeriodType.Custom4, 12004);<\/p>\n

RenkoSpectrum\u00a0 26 – 12\u00a0\u00a0\u00a0 >>>\u00a0\u00a0\u00a0\u00a0\u00a0 Add(PeriodType.Custom4, 26012);<\/p>\n

.<\/p>\n

BackTesting:<\/strong><\/span><\/p>\n

While testing with real time data and market replay data is most accurate and preferred. If you must back-test,<\/p>\n

For RenkoSpectrum 2.0 – adding slippage of\u00a0 one is preferred for realistic results.<\/strong><\/p>\n

For prior versions\u00a0 – adding slippage of\u00a0 BarBodyRenko minus NewBarRenko plus one is required for realistic results.<\/strong><\/p>\n

.<\/p>\n

(Please review\u00a0Disclaimer<\/span><\/strong><\/a> prior to ordering product)<\/p>\n

Order Ninjatrader 7 Purchase<\/a><\/span>\u00a0 <\/strong>of this product.<\/p>\n

Order Ninjatrader 8 Purchase<\/a><\/strong><\/span> of this product.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

RenkoSpectrum Bar Chart 2.0\u00a0 with Synchronization Feature\u00a0 *** This Chart uses two independent Renko Tick Values to create each unique chart. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Click on images below for zoom view New \u2013 This bar chart is now viewed using three Customed Chart Styles…<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-501","page","type-page","status-publish","hentry"],"aioseo_notices":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.innovative-trading-solutions-online.com\/new\/wp-json\/wp\/v2\/pages\/501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.innovative-trading-solutions-online.com\/new\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.innovative-trading-solutions-online.com\/new\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.innovative-trading-solutions-online.com\/new\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.innovative-trading-solutions-online.com\/new\/wp-json\/wp\/v2\/comments?post=501"}],"version-history":[{"count":0,"href":"https:\/\/www.innovative-trading-solutions-online.com\/new\/wp-json\/wp\/v2\/pages\/501\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.innovative-trading-solutions-online.com\/new\/wp-json\/wp\/v2\/media?parent=501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}