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Looking for good Renko bars with wicks for NinjaTrader 8? You are at the right place. Rest assured our ninZaRenko and KingRenko$ bars will provide you with genuine highs and lows.
The traditional Renko bar does an outstanding job of filtering out spurious noises and giving traders a clearer picture of the overall market direction. However, one downside to this popular bar is that highs and lows are ignored, leaving out a lot of critical price data. In contrast, our Renko bars with wicks for NinjaTrader 8 give you a genuine view of true highs and lows.
What do Renko wicks mean? Renko wicks represent the range of price movement at a candle in the direction opposite to where it closes. Long wicks are visible when a serious attempt is made to produce a reversal bar, but it finally fails. High wicks appear at bearish bars, and low wicks appear at bullish bars.
ninZaRenko and KingRenko$, our great Renko with wicks for NinjaTrader 8, actually shows where the price has been. Therefore, you can see true highs and lows of Renko bars, thus you will be able to place entries or exits at meaningful places.
Using our NinjaTrader Renko bar with wicks, you will find it more convenient to identify support and resistance areas. Wicks that represent high and low points for a given trading period can be beneficial for determining where a certain instrument may be overbought or oversold. Without these valuable wicks, support/resistance cannot be located precisely.
The advantage of our ninZaRenko and KingRenko$ bars with wicks over the standard candlesticks is that they can filter out a lot of noise. Second, ninZaRenko and KingRenko$ help you visualize trends clearly, quickly, and easily.
You might be wondering: what is the difference between ninZaRenko and KingRenko$?
While ninZaRenko bar employs an “artificial” open to help maintain a unified brick size between up & down candles, KingRenko$ reflects true open and close, as well as true high and low of a Renko bar. The advantage of KingRenko$ is that you’re going to get reliable accuracy in your backtesting. The results now become accurate thanks to the real open of KingRenko$. Not only good for backtesting, but KingRenko$ is also great for live trading because you can see the true price action data of every candle.
In NinjaTrader 8, our Renko bars with wicks provide extra clues for observing bulls and bears of the market. If you are seriously concerned about true-data price movement, then ninZaRenko and KingRenko$ could be the best Renko bars you have been long wanting to have.
