Posted By: hatten
Renko bars and time - 12/14/16 19:35
Renko charts undeniably have some charm. Common criticism is however that trading with it is difficult/useless because time information is lost. To mitigate this issue, I'm wondering if there is an easy way to implement the following:
Whenever a new brick forms, one keeps track of how long it took for the brick to form. I guess if the bar concept would be generalized and contain not only information about priceHigh, priceLow, priceClose, priceOpen but also timeOpen and timeClose than all needed information would be available. The time it took for a new brick to form is directly accessible. This seems useful to construct momentum based strategies. This generalized bar concept with timeOpen and timeClose stamps would also help in "time bookkeeping" of conventional candles.
Whenever a new brick forms, one keeps track of how long it took for the brick to form. I guess if the bar concept would be generalized and contain not only information about priceHigh, priceLow, priceClose, priceOpen but also timeOpen and timeClose than all needed information would be available. The time it took for a new brick to form is directly accessible. This seems useful to construct momentum based strategies. This generalized bar concept with timeOpen and timeClose stamps would also help in "time bookkeeping" of conventional candles.
