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Renko Trading Discussion

Quoting Hercs
Hello Matt, Sorry Matt, I deleted the first question as I found the "reason" by re-looking at the entry which was HalfTrend related. Sincerest apologies. Also, a screen-shot with the Data Window details (I cannot get it to stay open with readings, so I will write them down for your perusal and comments plse. It shows in the first line: RSX Tr. Hull. @ 40,9824 followed by.... Value 2 @ same 40.9824 and Value 4 @ 31,0791. Kindly confirm which of these values are being read by the EA. The EA had a brilliant morning, but the usual whipsaws at the top...
Hi Hercs!

The EA uses Value1 (= RSX_Tri...) for the entry/exit logic.

Best,
Matt
"Life is what happens when you're busy making other plans." -John Lennon
Version 1.44 of Renko ADX EA released (I updated Post 1).
Backtest with default input settings on EURUSD, 10 pips Renko size (real ticks).
Attached Image (click to enlarge)
Click to Enlarge Name: MathTrader7_RenkoADX_EA_v144_BT.png Size: 42 KB
"Life is what happens when you're busy making other plans." -John Lennon
Quoting woodyc
Hey Mathtrader. I am attempting to forward test the Renko ADX EA and it doesn't work on MT4 build 1220. Can it be updated to work?
Hey Mathtrader, the renko vdub EA doesn't work on M build 1220 either. I would like to forward test both of them.
Quoting MathTrader7
{quote} Good observation! If it doesn't repaint, it looks to be a very good dynamic S/R indicator for Renko charts.
Hi Matt,

I've been using the 100 SMA and your EA for some time plus S&R management - I think the non gap Renko is a really useful tool to help spot micro and macro S&R levels and work around them. The addition of a couple of levels around the SMA is also useful and the ssl channel posted by woodyc made me rethink the levels I have been using. Overall it appeals to my less is more/minimalist-functional/bauhaus style of charts

Thank you for your great efforts in this thread.

Best wishes, Dave
Keep banging the rocks together
Quoting MathTrader7
Version 1.44 of Renko ADX EA released (I updated Post 1). Backtest with default input settings on EURUSD, 10 pips Renko size (real ticks). {image}
Thanks, this version works on mt4 build 1220
Attached is Version 1.11 of MT7_Renko_Hercs_EA. In this version, standard MACD indicator is additionally used as a trend filter, and a trade session start and end hours has been implemented.

MACD trend logic: If N last MACD histogram bars are all greater than zero, the trend is upward, are all lower than zero, the trend is downward. N is available as an input settings (default is 2).

Session time filter: Start and end hours are inclusive. If you want the EA open positions all the time, set Start Hour to 0 and End Hour to 23.

Below is a backtest on EURUSD, 10 pips non-gap Renko chart from 2018-01-02 till 2019-11-01 (real ticks),
Attached Image (click to enlarge)
Click to Enlarge Name: MT7_Renko_Hercs_MACD_EA_111_BT.png Size: 41 KB
Attached File
File Type: ex4 MT7_Renko_Hercs_MACD_EA.ex4   139 KB | 130 downloads
"Life is what happens when you're busy making other plans." -John Lennon
Quoting MathTrader7
Attached is Version 1.11 of MT7_Renko_Hercs_EA. In this version, standard MACD indicator is additionally used as a trend filter, and a trade session start and end hours has been implemented. Below is a backtest on EURUSD, 10 pips non-gap Renko chart from 2018-01-02 till 2019-11-01,{image} {file}
Hi Matt,
First and foremost, thank you for this upgrade.
Secondly, what did you take as the entry? Standard MACD only allows for zero-line entries and I am using the Zerolag MACD with alerts & arrows, using the SIGNAL-line is entries.
Kindly clarify this for me at your earliest convenience, please.
Thanks,
Hercs.
Adding a screenshot to show you how the area from point A until point B, allowed for LONG trades only.
Attached Image (click to enlarge)
Click to Enlarge Name: Matt re US30_M10 @ 10pts box + Filter today 11 Dec 2019.PNG Size: 87 KB
Hercs
Quoting Hercs
{quote} Hi Matt, First and foremost, thank you for this upgrade. Secondly, what did you take as the entry? Standard MACD only allows for zero-line entries and I am using the Zerolag MACD with alerts & arrows, using the SIGNAL-line is entries. Kindly clarify this for me at your earliest convenience, please. Thanks, Hercs.
Hi Hercs,

MACD trend logic: If N last MACD histogram bars are all greater than zero, the trend is upward, are all lower than zero, the trend is downward. N is available as an input settings (default is 2).

Best,
Matt
"Life is what happens when you're busy making other plans." -John Lennon
Quoting MathTrader7
{quote} Hi Hercs, MACD trend logic: If N last MACD histogram bars are all greater than zero, the trend is upward, are all lower than zero, the trend is downward. N is available as an input settings (default is 2). Best, Matt
Good morning Matt,
Thanks for replying and explaining your thinking behind it. I will start testing this morning and report back to you.
Continued success to you.
Hercs.
Hercs
Hello Mathtrader. What is the function of the ADX threshold in the Renko ADX EA?
Hi Matt,
Attached a screenshot of this morning's trade.
I opened the candles as wide as possible in order for you to see the reactions.
EA went long @ 10h57 and was closed when the HalfTrend switched direction @ 12h14. (Visible on candles)
The EA without the MACD would have gone short immediately (same problem on DAX)
In this case, marked with a Yellow arrow indicating the exit.
RSi was correct <50-line and stayed below one candle further and beyond.

Now the MACD which is where I think the problem came in:

If #1 on the MACD is the highest histo-bar, then #2 was smaller and so was #3.
Therefore, at a setting of 2 bars (default and makes sense to me, thx), the trade should have triggered? Right?
#4 is marginally lower ( I checked it in the Data window for confirmation) and the EA should have traded there at least, but no trade was taken.

Kindly ignore the bottom oscillator which is a dotted version of the HalfTrend, which gets my attention when I look at the MACD.

I would appreciate hearing your view(s) on this please and at your convenience.
Best wishes,
Hercs.
Attached Image (click to enlarge)
Click to Enlarge Name: Matt re US30_M10 @ 10pts box + Filter today 12 Dec 2019.PNG Size: 28 KB
Hercs
Quoting Hercs
Hi Matt, Attached a screenshot of this morning's trade. I opened the candles as wide as possible in order for you to see the reactions. EA went long @ 10h57 and was closed when the HalfTrend switched direction @ 12h14. (Visible on candles) The EA without the MACD would have gone short immediately (same problem on DAX) In this case, marked with a Yellow arrow indicating the exit. RSi was correct <50-line and stayed below one candle further and beyond. Now the MACD which is where I think the problem came in: If #1 on the MACD is the highest histo-bar,...
Hi Hercs,

As I have mentioned above, the logic of using MACD additionally is to look at two last histogram bars of MACD. If we have a valid signal of previous versions, in this new version the EA additionally looks at the MACD status before opening a position. If two last MACD bars are both greater than zero, and the signal is BUY, then the EA opens a BUY position (and a similar way for SELL). In your attached screenshot the EA worked exactly as it has been programmed to do so. It didn't take SELL position because the last two MACD bars are greater than zero.

P.S. I will release a new version that uses the MACD indicator you sent me with the logic you mentioned above.

Best,
Matt
"Life is what happens when you're busy making other plans." -John Lennon
Quoting MathTrader7
{quote} Hi Hercs, As I have mentioned above, the logic of using MACD additionally is to look at two last histogram bars of MACD. If we have a valid signal of previous versions, in this new version the EA additionally looks at the MACD status before opening a position. If two last MACD bars are both greater than zero, and the signal is BUY, then the EA opens a BUY position (and a similar way for SELL). In your attached screenshot the EA worked exactly as it has been programmed to do so. It didn't take SELL position because the last two MACD bars...
Hi Matt,
Should it not have taken a short 3 candles later then?
Otherwise, I have to believe that we are back to the zero-line for entries? That makes the entries late by at least 2 candles. I still think the Signal-line is a better option, correct me if I am wrong, please?
Hercs.
PS. Thanks for your PS above. Looking forward to that.
You're the best!
Hercs
Attached is Version 1.12 of MT7_Renko_Hercs_MACD_EA. In this version the ZeroLag MACD indicator is additionally used as a trend filter

ZeroLag MACD trend logic: If Main line is below Signal line, the trend is supposed to be bearish. If Main line is above Signal line, the trend is supposed to be bullish.

Note: The ZeroLag MACD indicator has been embedded into the EA's code.

Below is a backtest on EURUSD, 10 pips non-gap Renko chart from 2018-01-02 till 2019-11-01 (real ticks),
Attached Image (click to enlarge)
Click to Enlarge Name: MT7_Renko_Hercs_MACD_EA_112_BT.png Size: 41 KB
Attached File
File Type: ex4 MT7_Renko_Hercs_MACD_EA.ex4   183 KB | 215 downloads
"Life is what happens when you're busy making other plans." -John Lennon
Quoting woodyc
Hello Mathtrader. What is the function of the ADX threshold in the Renko ADX EA?
Hi, the ADX value must be greater than the threshold so that the EA to open a new position.
"Life is what happens when you're busy making other plans." -John Lennon
Quoting MathTrader7
Attached is Version 1.12 of MT7_Renko_Hercs_MACD_EA. In this version the ZeroLag MACD indicator is additionally used as a trend filter ZeroLag MACD trend logic: If Main line is below Signal line, the trend is supposed to be bearish. If Main line is above Signal line, the trend is supposed to be bullish. Note: The ZeroLag MACD indicator has been embedded into the EA's code. Below is a backtest on EURUSD, 10 pips non-gap Renko chart from 2018-01-02 till 2019-11-01 (real ticks), {image} {file}
Hi Matt,
Forever grateful and indebted to you; no doubt you're in a class of your own.
Long may your blessings be in abundance.
Hercs.
Hercs
Quoting MathTrader7
{quote} Hi, the ADX value must be greater than the threshold so that the EA to open a new position.
Understood. Thanks.
Hi Matt,
US30, as well as DAX, had a huge "night" with Trump's Tweets and UK Election results.
When London opened it was just one long wait for everyone to catch up to what has happened and so I waited for NY Open rather than being caught up
in whipsaws.
But when NY opened things changed drastically and the EA produced a beautiful result. Smooth as a Badger's bum and correct to within 0.01 sec entries.
My heartiest congratulations on a job well executed. Mightily proud of you and deeply grateful.
Have a splendid weekend.
Best wishes,
Hercs.
Hercs
Quoting Liovannix
I may say it looks like a down trend ended and another down trend has began again. Pink 0 starts a fresh down trend and ends at Pink 5. If pink 5 is not with Lime 0, and its followed by Pink 0, its a down move. Download Chanelling SDC RS.mq4 from above and you will have a rough view of the trend.
MQL4 File showing error i cant complie it
Hi all, to keep the thread alive, here's my mornings efforts on the GER30, +20 pips short from the green dotted line. I suspect its going to run to 13300. Cheers, Dave
Attached Image (click to enlarge)
Click to Enlarge Name: GER30M3 17.12.png Size: 59 KB
Keep banging the rocks together
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