At The Indicator Store, we offer to help you get the preferred UniRenko Bars, fully featured using three input parameters. Download the bars for free!
Get our preferred UniRenko Bars
The install procedure is the same as with the indicators, just place the zip file in a known place and then use the install menu from NinjaTrader ( File, Utilities, Import Ninjascript...)
This is not an indicator but a Bar Type, so when you create a new chart, or when you go to Dataseries on an existing Chart you will see the option at the top ( where we have Minute, Range, Volume, Tick, etc )
It has 3 input parameters :
Trend : this is the number of ticks that price must advance on current trend direction to paint a new bar with same color
Reversal : this is the number of ticks that price must advance on opposite trend direction to paint a new bar with different color
Offset : this is the number of ticks from the close of previous bar where the fake open is placed.
Suggested settings : T=2 , R=12 ( or bigger ) , O=R/2
RISK DISCLOSURE :
Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
HYPOTHETICAL PERFORMANCE DISCLOSURE :
Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.