If you’re a Sierra Charts user and you want to get your charts to appear similar to the UniRenko charts used in some of the BCT Trading rooms, you can do so using Sierra Flex Renko Inverse.
Note: These settings were suggested by one of our BCT Platinum Members, Andres, and many of our Sierra users are using them.
To set this up on a chart, select Chart Settings (Chart/Chart Settings, or hit F5), then under Bar Period Type, choose Flex Renko Inverse Set (BarSize-TrendBarOffset-ReversalBarTrigger) as shown here:
Change the Setting field(below the Bar Period Type pull-down) to 7-2-10, as shown here:
Finally, in the rightmost pulldown below the 7-2-10, select New Trend Bar After Range Met | New Reveral Bar When Reversal Amount Met Plus 1 Tick and References Prior Close, as shown here. Note that this is the 9th choice down on the list.
Your charts should now show flex inverse renko charts that are close to the NinjaTrader 2-5-10 UniRenko charts shown in some BCT trading rooms. Note that 7-2-10 is similar to the 5-2-10, but in Sierra, the first number also includes the offset. So instead of 5, you use 7 to get the same result as 5 in NinjaTrader.