Description
renkokings.com/product/kingrenko
NinZaRenko_v7.0 and KingRenko
KingRenko$: a renko bar for renko trading strategy
You may have used Renko for years, have you ever wondered what the real “face” of Renko is?
Renko is the most-used mean renko bar for NinjaTrader 8 for its ease of visualizing trends.
Our famous Renko bar employs an “artificial” open to help maintain a unified brick size between up & down candles. It’s the artificial open that brings harmony and beauty to Renko charts, therefore helping traders visualize trends with ease and comfort.
However, the artificial open also results in a problem for system builders: Renko cannot be backtested. Therefore, we have developed a new bar type for NinjaTrader 8 namely KingRenko$ to resolve this backtest issue and empower the renko trading strategy.
What is KingRenko$? Simply put, KingRenko$ is the real “face” of Renko. No artificial open, only real data. So you can see for sure the real OHLC of a KingRenko$ candle. As a result, KingRenko$ can be backtested accurately.
Can it be used for LIVE trading? Yes, sure! Not only good for backtesting, but KingRenko$ is also great for LIVE trading because you can see the real OHLC of a candle.
KingRenko$ also has exactly the same settings as Renko: “Trend Threshold” and “Brick Size”.
If the settings are identical, the Close prices of the 2 bar types match exactly. Therefore, any indicators that are based on the Close price will have identical values on the Renko and KingRenko$ charts.
