Ambiguity of Renko Charts

A change in position of a grid may easily change the shape of the bricks chart. The most obvious result is that number of bricks in a simple trend can increase or decrease by one.

But even more annoying case may happen. If price is oscillating within a range of 2.5 brick, the same price movement can result in very different Renko charts, depending on the initial grid position.

  1. the range creates a series of several up and down bricks
  2. the entire range is covered by a single brick (a single brick can absorb up to 3-brick range) 

The question is - whether to align price to the opening of the first brick and let the grid make a random pattern, or fix the grid but forge the opening price of the first brick?

You may discuss the topic and help me to adopt your preference.

Posted on 2013 Oct 22
by Mark Perkins @ 23 Oct 2013 08:16 pm
by ovo @ 24 Oct 2013 05:43 am
Thank you Mark, I agree that the fixed grid may be the better option, though my reasons may be slightly different. From (technical) point of view the fixed grid has a good chance to create identical shape after the terminal restart, while the floating start price has no chance.
by ovo @ 25 Oct 2013 09:04 pm
I finally released the change in ver. 1.06.
The implementation of a grid for the Renko chart now depends on settings of SESSION_GAPS. When this input is set to TRUE then the bricks are built in a free layout, aligned with the particular session opening (same as recently). When set to FALSE, the bricks are aligned to a grid (multiple of brick size).
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