Lets Automate a Simple Renko Strategy!

Thanks. Hmmm yeah that Drawdown from around trade #260 to #330 isn't the best. I think this strategy needs a bit more thought/filtering.

Or just a very specific set of settings.

I think too. I´m trying with this indicator (Renko street_trend), but I think that it´s repaint. The idea is to take only buy signal when the indicator is blue and only sells in contrary colour.

Yeah most of those trend indicators will repaint and if you want until its confirmed then you miss out on a decent entry. The idea behind renko bars is to make it easy to get in early.

The strategy is OK, but I think we need a hedge function in this EA. If the market goes in the other direction, EA should open a new buy/sell order after 2 bars 2x first position size. Close trades when it reaches 10 pips of profit making us safe.

After adding hedge function I think it is ok to make only 10 pips of profit on every order, it will always be a winner.

This is. Great strategy and I think it will work....
But my challenge and I need help is that the bars available on the offline are few, how can I increase they number of bars....

Go go to the 1 minute charts remove the auto scroll function and then press and hold down the back space key and more data will display. You will need about 10 to 15 days of data. Go back to the offline chart and re apply the template. After this there shoul be enough dater to completely fill the screen with bricks.

Good Day
I need to start by thanking you guys for sharing and working together on this EA.
I found this Thread 2 days ago and really do appreciate all the hours you guys spend on this.
I started investigating trading to help a friend rebuild her live by making some money on forex and then teaching her to fish.
This Will really make that process so much easier.

I know the idea is to Trade this EA without indicators, but i would like to share my thoughts on how Fibonacci work great to predict possible future Take Profit levels.

Attachment

Here is my interpretation / implementation of the FIBS:

Point-A is the start of the Trend.
Point-B is the 1st LOW (or 1st opposite Color Candle)
Point-C is the retracement / pullback - The Retracement level is important to indicate the possible Take Profit level
Point-D is the 1st Take Profit level
Point-E is the 2nd Take Profit level

Point-C - retracement:
There is 4 levels in the retracement. A-61.8; A-50; A-38.2 ;A-23.6 - these 4 Level will go down to the "D-ext 161.8"
If it retrace to "C-0.860" it will only go down to the C-1.18 and then do a retracement again
If it retrace to "B-0.786" it will only go down to the C-1.27 and then do a retracement again

placing the next FIB
You place the New FIB between points C and D (C becomes A and D becomes B)

All This helps me to set a Possible Take Profit level
Hope this help someone out there

Some more Examples

Back again.....


I found this video -


a bit late but, it was made independent of this EA.
It use the same rules. so if you can suffer through it - you will understand what effort was put into automating this.

My trades for the above charts is progressing good. I will post the update a bit later

Great to see the fib added, I was working on adding the fib, but how do we determine the C, is the C after the B or within the A before B.....?

Thanks......

Please I like to know if I have to install Renko Mod.mq4 or MathTrader7...... Or both....

Please I like to know if I have to install Renko Mod.mq4 or MathTrader7...... Or both....

HI Guys

Here is the update on adding FIBS to the Ranco - as in Post-1508
It is Working for me...

please help me
about expert
when i open trade buy or sell.
expert should 0.01 lot for 1000 usd
(if balance would be go up 2000 0.02
first trade) trailng stop 27 sl 35 pip.
if sl is hit or breakeven is hit,it will
open 0.02 opposite direction
(tlstop 27 sl 35 same) if trade is sl or
breakeven ..again opposite 0.03
(sl tlstop same)..if it is sl 0.04...
...0.05...if total positive +1 or +2 ...
usd (0.01 0.02 0.03..)next trade again 0.01
lot.

today a good trade

Today was even better....it's gonna be a good weekend for me!

You play 10 lots on live account with this EA ? :-)

Sure do mate.....still trying to find a nongap renko SCRIPT, not EA, so that I can generate renko charts from my 1M data while offline, so that I can do some backtesting.

If anyone has one feel free to upload.

with sierra you can have renko charts history. but dont know if you can them backtest.

How you folks deal with the live candle?

I am just testing it. What settings do you use?