The NinjaTrader charting platform is what I use for Renko charting. In this article and the video below, I want to discuss how to make a NinjaTrader Renko chart and then add our Renko trading indicators to the chart.
- Note: The article will give you the basics for making your NinjaTrader Renko chart, whereas the video will give full details and instructions for making the chart and adding the indicators.
How To Make A NinjaTrader Renko Chart
When making a NinjaTrader Renko chart, you will begin by going to the control center and doing the following: Click new then click chart.
Renko Chart Data Series
- This will take you to a window labeled Data Series where you will select the instrument you want to chart
- We are going to make a CL 03-17 Renko chart
- Add the instrument and then go to the property box
- For chart, type select Renko, and for brick size select 3
- Click ok and you will have your Renko chart
Adding Renko Method Trading Indicators
- Right-click on your NinjaTrader Renko chart then click indicators
- This will take you to a window labeled indicators where you will select the indicators – for Renko chart trading select the following:
- ttEnvelopeR
- ttExtreme
- ttMExR
- After adding the indicators you will also have access to their properties for making any changes to the default values – watch the video for specific details for doing this
- Click ok and you will have your Renko chart with trading indicators
Making Adjustments To The Renko Chart Indicators
As you can see from the chart below, it will be necessary to make some adjustments to the Renko chart indicators.
Again, watch the video for instructions for making the Renko trading chart and indicators – this is what you will be doing:
- Overlaying ttMExR to the ttExtreme window and adjusting the scale
- Removing the indicator labels from the chart to make it look ‘cleaner’
- Adjusting the parameters for the ttEnvelopeR indicator and how it fits the Renko chart bricks
NinjaTrader Renko Chart With Trading Indicators Video
This is what your Renko method chart and indicators will look like after your adjustments are made – you are ready for Renko charting method trading.
Click the link to watch the video: Renko Chart And Trading Indicators Instruction Video
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