We are proud to present the first ATR-based median Renko bar type for NinjaTrader. As many already know ATR stands for Average True Range and is commonly used to determine market volatility.
Many traders love Renko bars because they filter out much of the noise and provide a very clear picture of the market. Also, many indicators perform much better on Renko charts than on time/tick or volume-based charts.
However, until now many Renko traders struggled to find the correct Renko brick size. Markets are always changing and the Renko brick size you used an hour ago might not be the best one to use at this moment.
If your Renko brick size is too small the bars form very quickly and you won't filter the noise out of the market. On the other hand, if your brick size is too big then you will have to wait a long time before a new bar is formed and your stop losses might become too big to tradeThis is why we designed the ATR-based Median Renko bar.
- automatically adjusts the Renko brick size based on the current market volatility.
- you never have to guess again what Renko brick size to trade.
always use the correct Renko size for current market conditions
During high volatility, this bar-type will automatically increase the Renko brick size. When the market returns back to normal or low volatility the Renko brick size will be lowered as well.
2. Renko status lines
The Renko suite comes with a small indicator which you can add to your chart. This small indicator will show you the exact price level(s) where the price has to go to create a new Renko bar.
3. ATR period and timeframe settings
You can choose the ATR timeframe (in minutes) and ATR period to use for calculating the optimal Renko brick size. By default, the Renko brick size gets calculated by using a 1min timeframe and 14-period ATR as shown in the screenshot below.
- ATR based median renko bar
- Automatically chooses the correct Renko brick size in real-time based on current market volatility
- Allows you to change the ATR timeframe & period.
- Renko bar status line showing where the next Renko bar will be created
- supports tick replay
- Works with any market
- Works with any NinjaTrader license
- Fixed weird bars when selecting RTH trading hours
- added option to specify the ATR multiplier (in %)
- added the ATR renko status lines
- released the first version
All our indicators and packages come with
- a one-time fee only
- lifetime license for 1 pc (we offer 20% discount for 2nd licenses)
- includes free future updates
We also offer a 100% free 5-day trial of all our indicators allowing you to test our software before you decide to invest in it. Since you are able to test all our software before buying it all sales are final and non-refundable!