SiProRenko Bar

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.

Compare Below

#1 Each new session will have bars freshly built beginning from the first tick of the session.

#2 With Sync Bars Daily off, swing high & low prices do not match.


SiProRenko B5 T2 Label

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 to create a reversal bar. This value is calculated automatically.
S: Shows Sync Bars Daily value.




SiProRenko B2 T4 Label

The SiProRenko will calculate correctly when the Brick size is smaller than the New Trend Bar value, creating some interesting results.

Parameters:

Brick size

Description

Sets the bar’s body length in number of ticks.



New Trend Bar

Description

Sets the number of ticks price must break in the trend direction to form a new bar.




Sync Bars Daily

Description

Turns On or Off NinjaTrader’s functionality, which is built into each of their bar types, that starts a new bar at the beginning of every new session, as seen in reference #1. Click Here for more information.
Reference #2 on the chart above points out what happens when this function is turned off. The bar prices do not match at the swing high & low points.
When turned On, every chart with matching parameters will have matching swing high & low prices.