Help Center Blog Open An Account

Flex Renko problems and MultiCharts


#1

I just recently found the Flex Renko and so far it looks promising. However, when I check the “Show Wick” box, nothing happens. I really want to see the price range for the bars every once in a while. Any suggestions?

strat%20report

Also, I have a strat performance report that just seems too hard to believe. Hence my desire to see what’s going on.


#2

Hello @SinatraFan, Thank you for joining the community.

Could you please attach a screenshot of the “Show Wick” and we will make an inquiry with Multicharts.

Matt Zimberg
Optimus Futures


#3

Hi SinatraFan,

as olobay has pointed out here: https://futures.io/multicharts/46716-need-help-multicharts-flex-renko.html you can get the wick to display by setting the style to Candlestick on the style tab.

In general it makes sense to be extra careful when testing your strategies on “non standard” bar types, as it can be even easier to fool the backtesting engine / getting fooled by it. A good test is to compare the real time behavior to the same bars historically, as this usually provides first clues. As a word of caution, if something looks too good to be true in strategy development it usually is and the results should be checked thoroughly.

Regards,

ABCTradingGroup


#4

Yes ABC, that is exactly how to do it. I was confused when I clicked on the style tab and there was no wick option for renko and thought it odd to select candle or ohlc, but it indeed worked. Thanks.


#5

Also, with pertaining to the insane strat performance report, I see what MC is doing. It is buying on the open of the candle during backtest which is IMPOSSIBLE since the open is the back side of the renko bar. If it was a standard renko chart that would be fine as the connecting edge of the new bar is connected to the close of the prior bar. BUT, that ISN’T the case with Flex Renko bars when you employ the offset settings (which I am experimenting with). However, it can be easily programmed in and I’m actually still very optimistic as the results do look VERY promising. I will update as I have more information. As for now, I’m busy trying to sort thru the results and see where to go from here.