MultiCharts: Trading Software for Automated Trading and Backtesting

The MC range bar looks like a renko bar. Is there a way to change the settings etc. to funtion like the TS range bar? One that can retrace the whole body of the bar?

Thank you

The MC Point bar looks nothing like a Renko bar, but yes it is different than the TS Range bar which is a flawed bar type.

Use "point original" which would be closest to the TS range bar.

I'm unsure why MC doesn't allow us to have all bar types in the Edit Symbol menu, but to plot these bars go to View -> Toolbars -> Command Line. Now click on the chart you want to change and type 20 Point(Original). The 20 is the size of bar.. you select whatever you want to use.

I see 'regular' on chart dropdown to use resolution of 'point'. Is this the same as point original? Still not close to TS range bar that I would like. Are they accommodating with the new/change feature request?

Did you miss the step by step instructions in my reply on how to plot TS-like range bars? Based on your response, I think you completely overlooked my post.

Well, I tried it a few times and got nowhere. I was using the resolution drop-down by the command line vs typing "20 point(original)" inside the command line. That gave me the retracing bars to evaluate. Thanks for writing back.

The open of the new bar doesn't equal the close of the previous bar when I typed "20 point(original) into the command line. So, it does retrace some of the bar,but not the total bar. Is this what you see too?

Thank you

I'll change the point value to 100 on the ES for this example so its very clear. Note that the CLOSE and the OPEN are the same value:

While digging into these bars, I've noticed something for MC:

Steaky was right without seeing these bars at all- They ARE Renko bars. Using Point(Original) is giving me Renko bars with Show Real Open, Show Wick, and Show Phantom Bars enabled.







A Range bar: Close=High-Barsize ; Close =Low+Barsize. This is a renko bar...

Sorry, Steaky. Either things have recently changed on these bars or I was completely mistaken. Either way, this looks like an error in the platform. My suggestion is to attempt what you're doing with MC Point bars from the regular menu. They are good bars.... nothing is bug free with unique bar types, but these do show promise. To have a block bar where the Close = Open isn't possible in real trading so the TS bars are built completely wrong. This is where MC attempted to fix their mistake.... and did a pretty good job at it.

I just got MC recently.

How did you get open = close on the point(original) bar example?
How do you Show Real Open, Show Wick, and Show Phantom Bars enabled?

My chart- high res. looks Renko(min move) makes sense, low res. looks like TS Momentum bar(ranged,open vs close is difference of min move) on my screen(both types point/original).

Thanks

I suggest that you click unsolved seeing as this topic is not solved.

There is no 100% equivalent for TS's range bars in MultiCharts. Please use one of the suggested above chart resolutions.

Henry, can I get a definition of Point Original? From what I see, its just a renko bar.

Please see the description here