Why non-gap Renko charts?
In standard Renko charts there is a gap of brick size between open of the reverse brick and the close of the previous brick. The Renko creator EA presented here creates a non-gap version of Renko charts. The non-gap version reconstructs the history more accurately than standard Renko charts, where it is of great importance for backtesting the EAs. For this reason, I personally prefer this type of building Renko charts, and here I share my Renko creator EA with the community.
>>Thread Rules:
1. In this thread we only discuss Non-gap Renko Chart Creator EA presented here. I will IGNORE anyone who writes any irrelevant post in this thread.
2. You post any commercial link (directly or indirectly) and that would be your last posts.
>>Performance:
For a comparison of my non-gap Renko creator EA with other Renko builder see an example survey in the following posts which starts at,
https://www.forexfactory.com/showthr...91#post8226691
>>How to run it:
1. Download MathTrader7_RenkoChartCreatorEA.ex4 from the attachments and copy it into your Experts folder.
2. Enable Allow DLL import in Tools>Options>Expert Advisors tab.
3. Refresh your MT4 platform's navigator window (or restart MT4).
4. Open a M1 chart (for example, EURUSD, M1) and attach the EA to the chart.
5. Wait for the EA to convert the history data of M1 bars into Renko bricks.
6. When the conversion to Renko bars is done, the EA will automatically open the chart of Renko bars created from (EURUSD) M1 history data.
Now you can attach a Renko trading EA, indicators and scripts to the opened Renko chart.
>>How to download M1 history data:
Method 1:
In order to create Renko charts with as much as possible bars, you need to download history data. One way to do so is as follows:
1. Hit <F2> key to bring up History Center window.
2. Select the symbol (for example, EURUSD).
3. Click on <Download> button.
4. Repeat 1 to 3 for all symbols you want to load history data.
Method 2 (Automated method):
For an automated script to load history data, see Post 71.
Download the script from Post 71, and put it into your MT4's Scripts folder. Then open a chart (any timeframe) of your desired symbol and attach the script to the chart. Then wait until script fetches all available history data from your brokers server.
>>How to backtest:
1. In the following link there is a description of a method to backtest Renko EAs:
http://www.forexfactory.com/showthread.php?t=572375
NOTE 1: Below in Download section you can find a script that converts real ticks to non-gap Renko HST files for backtesting EAs,
NOTE 2: I do not use above method to backtest my Renko EAs. I have my own way of doing so.
There is a description of how I test Renko EAs with real ticks below,
https://www.forexfactory.com/showthr...92#post8594192
>>Downloads:
1. Single-Symbol Renko Chart Creator EA
--- Update 2020-06-09 ------
Version 1.67 released. In this version I fixed a bug that caused incorrect chart creation when settings both "Show price jumps?" to "Yes" and "Choose Renko Type" to "Rail to Rail". Thanks to @forexaz for reporting this bug!
2. Multi-Symbol Renko Chart Creator EA (Experimental, ONLY FOR TEST, Do not use this version in practice)
Note: This version is an attempt to create Renko charts for more than one Symbol with running the Renko Creator EA only on one chart. This works best for Renko brick sizes of greater than 50 points (5pips). You should note that with multi-symbol version you may face a high CPU usage.
--- Update 2018-08-20 ------
Version 1.50 released. Bug fixes.
3. Real Ticks to Renko HST Convertor Script (For Backtesting Renko)
--- Update 2020-06-01 ------
Version 1.03 released. In this version I fixed a bug related to large price gaps. Now the EA is more robust against such large price gaps (it is also called price jumps).
In standard Renko charts there is a gap of brick size between open of the reverse brick and the close of the previous brick. The Renko creator EA presented here creates a non-gap version of Renko charts. The non-gap version reconstructs the history more accurately than standard Renko charts, where it is of great importance for backtesting the EAs. For this reason, I personally prefer this type of building Renko charts, and here I share my Renko creator EA with the community.
>>Thread Rules:
1. In this thread we only discuss Non-gap Renko Chart Creator EA presented here. I will IGNORE anyone who writes any irrelevant post in this thread.
2. You post any commercial link (directly or indirectly) and that would be your last posts.
>>Performance:
For a comparison of my non-gap Renko creator EA with other Renko builder see an example survey in the following posts which starts at,
https://www.forexfactory.com/showthr...91#post8226691
>>How to run it:
1. Download MathTrader7_RenkoChartCreatorEA.ex4 from the attachments and copy it into your Experts folder.
2. Enable Allow DLL import in Tools>Options>Expert Advisors tab.
3. Refresh your MT4 platform's navigator window (or restart MT4).
4. Open a M1 chart (for example, EURUSD, M1) and attach the EA to the chart.
5. Wait for the EA to convert the history data of M1 bars into Renko bricks.
6. When the conversion to Renko bars is done, the EA will automatically open the chart of Renko bars created from (EURUSD) M1 history data.
Now you can attach a Renko trading EA, indicators and scripts to the opened Renko chart.
>>How to download M1 history data:
Method 1:
In order to create Renko charts with as much as possible bars, you need to download history data. One way to do so is as follows:
1. Hit <F2> key to bring up History Center window.
2. Select the symbol (for example, EURUSD).
3. Click on <Download> button.
4. Repeat 1 to 3 for all symbols you want to load history data.
Method 2 (Automated method):
For an automated script to load history data, see Post 71.
Download the script from Post 71, and put it into your MT4's Scripts folder. Then open a chart (any timeframe) of your desired symbol and attach the script to the chart. Then wait until script fetches all available history data from your brokers server.
>>How to backtest:
1. In the following link there is a description of a method to backtest Renko EAs:
http://www.forexfactory.com/showthread.php?t=572375
NOTE 1: Below in Download section you can find a script that converts real ticks to non-gap Renko HST files for backtesting EAs,
NOTE 2: I do not use above method to backtest my Renko EAs. I have my own way of doing so.
There is a description of how I test Renko EAs with real ticks below,
https://www.forexfactory.com/showthr...92#post8594192
>>Downloads:
1. Single-Symbol Renko Chart Creator EA
--- Update 2020-06-09 ------
Version 1.67 released. In this version I fixed a bug that caused incorrect chart creation when settings both "Show price jumps?" to "Yes" and "Choose Renko Type" to "Rail to Rail". Thanks to @forexaz for reporting this bug!
2. Multi-Symbol Renko Chart Creator EA (Experimental, ONLY FOR TEST, Do not use this version in practice)
Note: This version is an attempt to create Renko charts for more than one Symbol with running the Renko Creator EA only on one chart. This works best for Renko brick sizes of greater than 50 points (5pips). You should note that with multi-symbol version you may face a high CPU usage.
--- Update 2018-08-20 ------
Version 1.50 released. Bug fixes.
3. Real Ticks to Renko HST Convertor Script (For Backtesting Renko)
--- Update 2020-06-01 ------
Version 1.03 released. In this version I fixed a bug related to large price gaps. Now the EA is more robust against such large price gaps (it is also called price jumps).
Trading is the hardest way to make easy money...
