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Renko BXT Bartype
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Renko BXT Bartype
Home Free Renko_BXT Bartype
MT_Filter - Multi Timeframe Indicator $497.00
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Renko_BXT Bartype

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The RenkoBXT software is a custom bar type which uses a standard Renko based construction for trends, and Range based construction for reversals.

Included With Purchase:

  • Code & Updates Available on NT8
  • Detailed User Documentation
  • One-Time Purchase license (2 PC’s)
  • Remote Installation & Ongoing Support
Platforms

Ninjatrader

Category: Free Tag: Custom Bartypes
    • Description
    Description

    Overview:

    The RenkoBXT software is a custom bar type which uses a standard Renko based construction for trends, and Range based construction for reversals. This applies a smoothing filter to price action, which reduces noise and makes it easier to see important swing points and identify trending conditions.

    Purpose:

    Traders need the RenkoBXT software because they need a better way to smooth out the noise by filtering out small temporary pullbacks. Cleaner charts that are easier to read saves time and avoids confusion. Another benefit is that trend measuring indicators applied to RenkoBXT bars tend to be easier to interpret and lead to better trade performance.

    Elements:

    1. Bar size determines the base fractal
    2. Reversal Size allowing for trailing wicks which ignore small pullbacks
    3. Open Offset controlling the degree of bar overlap for smoothing
    4. Optional Backtestable version which adjusts the bar open to match the previous bar close

    Functions:

    The RenkoBXT bartype software is best used when trending conditions play a large role in your trading strategy. Using this bartype on your trading chart prevents you from losing track of the current trend. The trailing wicks provide potential locations for entering on pullbacks. Customizing the fractal size and other settings to each market that you trade will ensure you get the most out of this software.

    Problem Solved:

    • Stops traders from second guessing directional bias
    • Stops traders from trading in the wrong direction
    • Stops traders from losing sight of market structure
    • Stops traders from getting confused by lagging indicators
    • Stops traders from getting stopped out due to false moves
    • Stops traders from getting distracted by noisy price action
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    ARC-AI has no financial interest in the outcome of any trades mentioned herein. There is a substantial risk of loss when trading securities. You need to determine your own suitability to trade them. There may be tax consequences for short term profits or losses on trades. Consult your tax professional or advisor for details on these if applicable. Neither ARC-AI, nor its principles or employees are licensed brokers or advisors. Becoming a subscriber and/or trading any of these lessons or strategies presumes you have fully read and understood the risk involved in trading as set forth below:

    ARC-AI offers services and products for educational purposes only. The generic market recommendations provided by us are based solely on the judgment of our personnel and should be considered as such. You acknowledge that you enter into any transactions relying on your own judgment. Any market recommendations provided by us are generic only and may or may not be consistent with the market positions or intentions of our firm and/or our affiliates. Any opinions, news, research, analysis, prices, or other information contained on our website or by presentation of our material is provided as general market commentary, and do not constitute advisory services.

    CFTC RULE 4.41 – 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 in 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 of which can adversely affect actual trading results.
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