LogikUltimateRenko

Salepage : LogikUltimateRenko
Archive : LogikUltimateRenko Digital Download
Delivery : Digital Download Immediately

The LogikUltimateRenko is an upgraded version of the standard Renko that is entirely customisable. It now has the ability to specify the Open Price Relation (to the previous bar), a more exact Reversal Brick Size control, and Phantom bar drawing when using a bigger Reversal Brick Size for greater indication smoothness and responsiveness.

Parameter for Open Offset

The opening price of a renko bar is traditionally displayed at the closing of the previous bar. As a result, the pricing must shift one full bricksize in order to print a new bar. This is altered by the LogikUltimateRenko.

The LogikUltimateRenko allows you to specify where a new bar opening price should print in relation to the previous bar. This is represented by a percentage (%) within a whole bricksize range. The graphic below depicts how this Open Price % relates to a bar.

Using this capability, a trader may effectively design any style of Renko that is now available on the market, or create their own version of what reacts best to a certain market. For example, a 50% setting will produce a “Median Renko,” a 100% setting will produce a “Traditional Renko,” and so on. The lower the Opening Price%, the less the price needs to move in the trend’s direction to form a new bar. This allows modest price changes to generate more price points, allowing indicators to better represent the market.

These photos show that when the Opening Price% lowers, the pattern becomes more obviously controlled. When using this sort of technique, the price action is smoothed but there is no additional latency. Furthermore, when the underlying data is smoothed in this way, the indicators used more nearly represent the market and their responsiveness is increased.

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