Description
Overview
To other vendors/developers: KingRenko$’s ID is 678910. Each custom bar type on the market should have a different ID, so that ID interference can be avoided.
You may have used ninZaRenko for years, have you ever wondered what the real “face” of ninZaRenko is?
ninZaRenko is the most-used mean renko bar for NinjaTrader 8 for its ease of visualizing trends.
Our famous ninZaRenko bar employs an “artificial” open to help maintain a unified brick size between up & down candles. It’s the artificial open that brings harmony and beauty to ninZaRenko charts, therefore helping traders visualize trends with ease and comfort.
However, the artificial open also results in a problem for system builders: ninZaRenko cannot be backtested. Therefore, we have developed a new bar type for NinjaTrader 8 namely KingRenko$ to resolve this backtest issue.
What is KingRenko$? Simply put, KingRenko$ is the real “face” of ninZaRenko. No artificial open, only real data. So you can see for sure the real OHLC of a KingRenko$ candle. As a result, KingRenko$ can be backtested accurately.
Can it be used for LIVE trading? Yes, sure! Not only good for backtesting, but KingRenko$ is also great for LIVE trading because you can see the real OHLC of a candle.
KingRenko$ also has exactly the same settings as ninZaRenko: “Trend Threshold” and “Brick Size”.
If the settings are identical, the Close prices of the 2 bar types match exactly. Therefore, any indicators that are based on the Close price will have identical values on the ninZaRenko and KingRenko$ charts.
Media
Software Changelog
NinjaTrader 8 version:
- 25 Oct 2022 – Version 1.0 – The bar type was released (built new).
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