Recruitment of participants LogikUltimateRenko Ninjatrader 8

Adaptive Brick Size (Daily Basis)
The LogikUltimateRenko has the ability to dynamically determine the appropriate brick size to best adapt to market conditions. The unique algorithm constantly monitors market data on a tick by tick basis to self tune the brick size throughout the day. At the beginning of each new day the computed brick size is automatically implemented to the chart.

In NT7, an indicator (below) is include for this computation.

In NT8, this function is integrated into the LogikUltimateRenko and can be applied automatically by setting a bricksize of 12345.



Noise Filtering
Depending on the real-time tick filter algorithm implemented by the platform, a spurious tick price may pass through from a broker’s data stream. Since the Renko chart algorithm uses pure tick data as it is received from the broker, this noise may create bricks which are inconsistent with the true in a whip saw manner. Although the effect on the price is minimal since the chart price is dependent on the latest tick, any indicator applied to the chart will be useless since this price data is filtered into it. This effect increases as the input size of the brick decreases.

The LogikUltimateRenko implements a real-time tick filter independent of any other filter. The algorithm is designed to eliminate this whip saw effect without removing important price information. Spurious ticks are detected, classified, and disregarded.



True Wick Display
The LogikUltimateRenko depicts the true High / Low with a candle chart like wick to reintroduce this important price information lost with the traditional renko bar, while maintaining the benefit of isolating the underlying price trend.

Wick display benefits:

• Large wick-to-brick ratio illustrates strong indecision / possible reversal
• Small wick-to-brick ratio illustrates little to no indecision / less likelihood of reversal
• Congestion areas can be analyzed more efficiently with the true price
• A wick endpoint can be utilized to determine an adaptive / dynamic trail more easily
• A wick endpoint can be utilized to determine Support / Resistance areas more easily

 

are you using the Adaptive Brick Size/applied auto as that looks like a fantastic feature, so what's your thoughts on that feature on something like NQ?

 

Less spurious reversals


Less bar size manual settings

 

youtu.be/2ggww8bF-h8?t=351
youtu.be/2ggww8bF-h8?t=499

 

question... is this backtestable? there are renko bars that give erroneous result when backtested?

 

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