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 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.
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.
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