Renko chart settings like tradestation

Traders Helping Traders
1

Has anyone figured out how to setup renko to act like tradestation. I was using a 4 tick renko. Cant seem to get the same in tradovate.

2

In Tradestation the Renko inputs are in points - Not ticks. So if you were putting in “1” in Tradestation - it would actually be 4 ticks on the @ES for example.

Tradovate has their inputs as ticks.

If you were entering 4 in Tradestation then it was a 4 point Renko. If you use 16 on Tradovate (Assuming it is the @ES) it should match.

Hope that helps.

Donovan

3

Thanks I will try that…I have been using several platforms before coming to decide on tradovate. Following Tay Freeman. Trying to match his setup.

4

I tried the tick settings. I get only partial sporadic bars? I am trying to use a 4 tick which I understand is one point. Any suggestions?

5

It would be best to post a screenshot - otherwise we have no idea what you are looking at.

Thanks

6

Here is what I get with an 8 tick renko. I use as low as a 2 tick to trade.

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7

Huh - That is weird - What contract are you looking at & what time frame (Was that screencap taken recently?)

Let me know and I will see if I can replicate it.

It almost appears to me like you might be looking at a contract that is far out and has no liquidity yet.

What is the exact symbol you are typing in?

Thanks

Donovan

8

That is on the ES today, around 10 am. The renko was at 8 ticks. If I allow the chart to load for approximately 30 minutes it improves. However not normal flow. I am confused as well. Thanks for looking at this

9

Was the symbol you were looking at ESU0?

10

Yes… is that the correct symbol for ES? It is what I have been trading. The S&P 500

11

I just loaded up a 8 tick Renko (ESU0) and it worked just fine. Loaded quickly and no gaps, etc.

Is it possible you had the wrong contract (ESU1) or something like that? That would explain the gaps in the data on the screenshot you shared.

If that does not work for you, I suppose you had better get in touch with Tech Support as I see it works perfectly on my end.

Thanks,

Donovan

12

You configure the Renko bars in the Configure Chart Elements area(the gear icon). I don’t think tick timing works with Renko correctly. I set the chart time to 1 or 5 minutes. I will see a new Renko bar in that time frame only if price actually moves 4 ticks(my Renko tick setting in the chart elements window) or more in that specific time frame.

It will glow a brighter color during the time frame and change to the regular colors once the time frame resets. So if I have a 1 minute chart and price moves up 4 ticks with 30 seconds left before a new minute starts, the Renko bar will glow with a brighter green. If price remains above 4 ticks when the new minute starts, it will plot a normal Renko bar and it will stay there forever, but it falls below 4 ticks before the minute is up the glowing bar will disappear.

13

I should also note that any Renko time frame below 15 minutes is kind of wonky in the current desktop build. I haven’t tested Renko in the beta, but there was mention of fixes. It plots correctly for the most part on smaller time frames, but the bars are offset one or two ticks on the chart grid. You’ll also see some weird plots from time to time.

1 Like
14

Ok, last comment. If you select Range under chart timing and set it to match the tick setting for your Renko setup it will probably be exactly what you’re used to looking at. It plots as soon as a range is surpassed with no time setting in the way. So if you set the range to 4 and your Renko tick count to for it will plot a new Renko bar when price goes up or down 4 ticks and the new bar becomes permanent once it surpasses 4 ticks.