To other vendors/developers: KingRenko$'s ID is 678910. Each custom bar type on the market should have a different ID, so that ID interference can be avoided.
Have you ever taken a moment to consider the real 'face' of ninZaRenko, the popular renko bar that is widely used on NinjaTrader 8?
One of the reasons for its popularity is its ability to simplify trend visualization, achieved through the use of an "artificial". That ensures a consistent brick size between up and down candles, resulting in harmonious charts that are easy on the eyes.
However, this feature poses a problem for system builders, as ninZaRenko cannot be accurately backtested. This led us to develop KingRenko$, a new bar type for NinjaTrader 8 that does not use an artificial open and relies solely on real data.
This makes KingRenko$ the real "face" of ninZaRenko with the real OHLC, and it can be backtested accurately, allowing traders to fine-tune their strategies with greater confidence.
Not only is KingRenko$ good for backtesting, but it's also great for live trading as it provides the real OHLC values for each candle. It shares the same settings as ninZaRenko, including "Trend Threshold" and "Brick Size," so Close prices for both bar types match exactly when the settings are the same.
This means that any indicators based on Close prices will have identical values on both ninZaRenko and KingRenko$ charts, allowing traders to seamlessly transition between the two bar types.
- 25 Oct 2022 - Version 1.0 - The bar type was released (built new).
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