hey mathtrader, whats the best indicatorin your opinion to use on renko if you dont mind me asking ?
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Dislikedhey mathtrader, whats the best indicatorin your opinion to use on renko if you dont mind me asking ?Ignored
Disliked{quote} Hi osfx, It seems that the EA couldn't recognize the chart as a non-gap Renko chart... Best, MathIgnored
Disliked{quote} Hi Peluq! I added move to breakeven, and here is a backtest result. Attached is Version 1.10 of the EA. Best, Math {image} {file}Ignored
Disliked{quote} Hello Math, What is the renko brick size on this breakeven EA?Ignored
Disliked{quote} Hi GoldTheHun, I always use 10 pips Renko for backtesting, unless I mention something else. Best, MathIgnored
Disliked{quote} Thanks a lot Math. One more question: In the BE backtest how many pips does the EA to move the SL to breakeven?Ignored
Disliked{quote} For the fist 100 points profit, the EA moves the SL to 70 points.Ignored
Disliked{quote} Thanks once again Math, The reason why I asked this is that backtester could be making mistakes because the SL to breakeven is only %70 of the brick. According to my experiences with the backtester is that trailing stops, or inside the bar stops are bound to make so many mistakes because of mt4 not using actual ticks. So this causes the results of the backtests artificially positive. I am not saying this only for renko bars, regular candles are effected same way also. I would suggest to make the SL as full brick size, possibly jumping stops...Ignored
Disliked{quote} What you say is correct. For backtesing an EA on regular time frames I usually use "Every Tick" mode with real ticks. This avoids the problem you mentioned. For backtesting EAs on Renko charts with real ticks, there is no trivial solution for. In the absense of real ticks, I use "Control points" mode to perform a rough backtest of the Renko strategy/EA. If I am eager to explore further the performance of the EA, I modify the EA such that it creates Renko bricks into the memory and applies indicators calculations to. This way, I will be able...Ignored
DislikedMath, thank you for sharing your strategies, ideas and tests using Renko! I noticed that in every backrest that I have seen you are using EURUSD. Any specific reason? Are you trading or have you tested other pairs?Ignored
I am currently testing Renko charts using the Quantum indicator from the Quantum London Trading thread. I have the indicator set to a value of 20. This indicator just displays when a bar is the highest high or lowest low in the set period. For this strategy I am opening a sell trade when a red box is displayed, provided that it is displayed on an up candle. Each subsequent red box I open an additional sell trade that is a little larger than the previous. When a blue box is displayed I close all of the sell trades. Buy trades are just the opposite.
I know that this system involves a lot of averaging down and runs without stops, but I am running it with extremely small trade sizes so this is really not an issue.
Now I just have to figure out how to backtest Renko bars. I have been considering purchasing the Omnia Bar Collection from OVO.cz. Anyone have any experience using their scripts in backtesting?