Many have asked the difference between the Smart Renko bars our members use to trade with every day in the Oil Trading Room (OTR) and the Mega Bars.
Mega Bars were originally developed for the room but we have intellectual property agreements as to their use. For this reason, Mega Bars are not sold. This by no means suggests Mega Bars are superior to the bars our customers use on their own machines in the Oil Trading Room every day. In fact, in some ways Smart Renko bars may be superior. For example, a recent pattern back test conducted by one of our members using the 112 pattern we teach in the room produced $3,000 in profits over the two week period tested with a maximum draw down of $300 and 75% winners. Any number of the patterns we teach in the Oil Trading Room are like this. These tests are being conducted by members of our BloodHound User's Group and are done exclusively with OTR Smart Renko bars. So, be assured we are not hiding anything from you!
There are differences in the way these bars are computed however. But about 95+% of the time they are the same. If you are a room member, you probably know when the Smart Renko bars do not match the Mega Bars, it may not be a good time for trading and the market is out of skew a bit.
So how do the bars compare on a typical day? Expand the room charts below and compare them.
The Oil Trading Room is based on the Smart Patterns Trading System using Mega /SmartRenko bars. When you have the Smart Patterns Trading System or components of it sufficient to set up your favorite OTR trades like the one mentioned above, you can trade independently of the room. Additionally, you can more accurately identify and trade patterns on your own charts. Further still, if you have the system, you also have the Ultimate Tick Bars (UTB). The UTBs work in a different way from the room bars that essentially gives you two proven trading systems in one; one with the Smart Renko bars and the other with the UTBs. If you are truly serious about your trading it is recommended you get the whole system as these tools give you amazing flexibility to trade in the way that is most suited to your personality and to develop skills as a trader that you can use for life and that will adapt as markets change going into the future.
Smart Renko Bars: