SiProRenko is the first multi-mode hybrid Renko bar. It generates the standard median Renko chart that has become a favorite among day traders. It’s attraction and popularity is due to the wave like style, that smooths out price action and minimizes “the chop”. Simple to follow and easy on the eyes.
#1 The Sync Bars Daily mode, allows you to control whether or not the bars use NinjaTrader7’s session break feature.
#2 With Sync Bars Daily off the bars are continuous across the session break line, but the swing high & low prices may not match.
The top chart above is built with these settings.
B: shows the Brick size value.
T: shows the New Trend Bar value.
R: shows the number of ticks price must reverse, from the bar’s Close price, to create a reversal bar. This value is calculated automatically.
S: Shows Sync Bars Daily value.
The SiProRenko will calculate correctly when the Brick size is smaller than the New Trend Bar value, creating some interesting results.
- Easily Identify Trends
- See Through Chop
- Mulitple Modes