Comment on Charting - Pi

Natraj commented on 21 May 2015, 10:40 AM

Thanks, Nithin.

One more question (and feedback), about Renko charts.

Renko charts use either a fixed (static) but random number like 5, 10, etc. for brick size or ATR (average true range) to determine a dynamic brick size.

The charts on Tradingview.com support both varieties and I’ve personally seen that using 14-period ATR-based Renko charts are hugely more accurate than the fixed-size ones.

So my question is — Does Pi support ATR-based Renko charts where the box size changes based on dynamic ATR values rather than just having a fixed static box size?

Here’s a visual example that shows the difference in accuracy between the two and why ATR Renko boxes are far better and necessary for trend trading.

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