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Why are there no Bull Bear Flag dots on Tradestation Renko Charts?..

The MQ Bull Bear Flags indicator doesn’t show flag dots on Renko charts. This is a limitation of TradeStation (i.e., the indicator isn’t refusing to draw them because it’s a Renko chart). Renko charts can plot where price hasn’t yet gone within a bar, which would impact the accuracy of bull and bear flag setups anyway. This indicator is more effectively used on time or tick charts, where the bar’s high and low represent where price has been. Note that many traders watch for Bull and Bear Flags on time or tick charts as they enter the trade on Renko.

Updated on May 12, 2020

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