Building HLC/3 Renko Chart

[lunk]

The building of a standard Renko Chart using Close values is pretty straightforward and my attempt at manually building them lines up with the Esignal charts.

However, no matter how I do the math, I cannot corrrelate my computations with the way esgianl creates a renko chart for HLC/3. For example, when I compute that two boxes need to be created, esignal prints out 3-4 boxes.

Could you please give me a quick rundown on the logic that is used in for creating the HLC/3 Renko chart?

Thanks.
Vic

[Guest]

lunk,

Here is a link to a Renko efs written by Chris Kryza that may be of some help

[lunk]

Thanks Steve,

but that efs looks like it's based on Close and has no logic for HLC/3.

The reason I'm asking this is because I believe that Esignal's code may be wrong, and I'd like to know what criteria/logic they use in creating the renko before I make any posts about a 'bug' in the code.

[lunk]

I've marked up some charts to show what I'm talking about, but I haven't been given the ability to post attachments. Esignal Moderator: can you please give me access?

You can see the two charts here:

First chart is the Candle Chart:

http://www.ttrader.com/mycharts/display.php?p=37103&u=victorb&a=Victor%20Blank&id=1586

Press "NEXT" to see the Renko chart.

These charts are from 10-31-05

[ACM]

Vic
Here is how you can modify Chris Kryza's Renko script to use HLC/3. In line 120 replace
nLowLevel = rnd( close(nIndex), nPrec );
with
nLowLevel = rnd( sma(1,hlc3(),nIndex), nPrec );
and in line 136 replace
nCheck = rnd( close(-1), nPrec );
with
nCheck = rnd( sma(1,hlc3(),-1), nPrec );
Then run the script on a bar chart that uses the same Time Template used on the Renko chart (ie same #Days/Bars loaded and if intraday same Start/End times).
Once you have done that you should find that the blocks calculated by the script match those in the Renko chart.
Alex