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AlanD
Posts: 35
Joined: 12/1/2006
Location: Waipio, Hawaii
 User Profile |
Is it possible to determine a market state based on another bar type like Renkos? Seems like it might be possible to get more consistent market states with Renkos vice standard bars.
Likewise, although this isn't the right forum, can SW4 use Renkos in the market state selection when finding optimal strategy solutions.
Thanks,
Alan
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Barry Cohen
Posts: 6338
Joined: 1/19/2004
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You can't determine a market state based on analysis from another timeframe. You can use Renko as your active timeframe to get the market state based on Renko, but the analysis will be on Renko as well. Same with SW4. I will add it as a feature request though.
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AlanD
Posts: 35
Joined: 12/1/2006
Location: Waipio, Hawaii
User Profile |
Thanks Barry....Yes I think being able to look at other timeframes/bars could help to smooth out market state transitions.
R,
Alan
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sgbyrne
Posts: 10
Joined: 1/2/2004
Location: Humble, Texas
User Profile |
Barry,
I was talking to Ed Downs at the Bash today and asked him about the possibility of using Renco for market states in ATM, say 3ATR for Macro and 1ATR for Micro.
I didn't add the request on the Bash survey so I include it here. Have attached a couple of graphics as examples.
Regards
Steve Byrne
 Attached file : SPY Renco.jpg (202KB - 353 downloads)
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Barry Cohen
Posts: 6338
Joined: 1/19/2004
User Profile |
Right Stephen, you can use ATM on Renko. You just can't determine a particular market state based on something from another timeframe. All market states are calculated on the active timeframe, which could be set to Daily, Renko, Heikin-Ashi, etc.
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sgbyrne
Posts: 10
Joined: 1/2/2004
Location: Humble, Texas
User Profile |
Thanks Barry, perhaps an ATR based indicator for the daily timeframe, I will look into it a bit more.
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