Comment on Cover feature of Zerodha - Dalal times

Arun Kamath commented on 08 Sep 2015, 06:51 PM

Is calculation of renko charts in pi different from others?

Never used it before, so was researching about it.

Renko charts ignores time factor and only looks at price change. But then why does renko charts of different timeframes look different?

Also, for Box size 2 if the price increases by 4, then 2 boxes are created. Yesterday, Crude price gapped up significantly, but I think only one box was created at that time.

I tried Algogeek’s algorithm that he provided in another thread, but that was getting triggered even before a box was complete. Gold’s renko box was flickering from red and green continuously for some time causing the algo to get triggered. How to know whether the box drawn is complete and will not recede even when you are looking at the chart?

View the full comment thread »