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Renko Trading Discussion

Hello, I have been using this type of renko candle for a few weeks and it has been more comfortable for me for trading systems that I designed. I have some EAs trading with these candles and they work better than traditional candles. Has anyone else tried it before?
I annex the indicator that generates this type of Renko Candles
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Attached File(s)
File Type: ex4 STS_RenkoChart.ex4   185 KB | 265 downloads
Quoting JaimeAlejan
Hello, I have been using this type of renko candle for a few weeks and it has been more comfortable for me for trading systems that I designed. I have some EAs trading with these candles and they work better than traditional candles. Has anyone else tried it before? I annex the indicator that generates this type of Renko Candles {image} {file}
Hi JaimeA, happy new year to you! I've experimented with this form of Renko in the past, I think I have tried most flavours of Renko! Congratulations if it is working for you - you have to live and breathe a trading style to make it work. Cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
DAX long +4, 5 pip bricks:
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Everything should be made as simple as possible, but no simpler - Einstein
What a good fall the EURUSD had and it is appreciating very well with Renko Charts of 5 pips
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Quoting JaimeAlejan
What a good fall the EURUSD had and it is appreciating very well with Renko Charts of 5 pips {image}
Was this after you've started your chart or while watching it?
Continued success to you.
Hercs.
Hercs
DAX long +4; not quite the drive to the 6100 line I was expecting :
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Everything should be made as simple as possible, but no simpler - Einstein
Quoting Hercs
{quote} Was this after you've started your chart or while watching it? Continued success to you. Hercs.
It was generated organically in a vps where MT4 is generating the renko graphics 24/5. I know that if I generate a new renko chart it will be totally different or at least it won't match on many points.
DAX long +26 from support at 16050 zone, 5 pip bricks:
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Everything should be made as simple as possible, but no simpler - Einstein
DAX long +12 5 pip bricks:
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Everything should be made as simple as possible, but no simpler - Einstein
DAX long +23 pips (removed TP), 5 pip bricks:
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Everything should be made as simple as possible, but no simpler - Einstein
hello people, here again looking for how to be profitable in the long term with renko charts, after several analyzes in different types of Renko and of different sizes I realized that Blocks greater than 15 pips work well and help to better outline the noise of the Forex market.
I am testing this Ea that says with a special program to do Eas if I know how to program and after a month of work it seems that I am doing something moderately profitable, I still need to set profit and loss limits since that way you can better manage the Capital.
In the image I show in the first place how this weekend it opened an operation but it did not reopen more operations in all the low that the GBPUSD had and I thought I had corrected it, then in yellow there is an error in the configuration of the EA that made a disaster and finally it is Ea working as expected, it only remains to do a long Back test to confirm if it will be profitable in the long term.
Has anyone else tried a Renko EA like the one in the image
15 pip candles on GBP USD
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DAX long +28, 5 pip bricks:
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Everything should be made as simple as possible, but no simpler - Einstein
Quoting JBRolim
Hi guys, does anyone have Ea to share similar to the image below? {image}
I have something like this, it is a matter of testing in the long term and adding some filters such as EMAS and limit operations to reduce losses in the close of a contrary candle
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Quoting JaimeAlejan
I have something like this, it is a matter of testing in the long term and adding some filters such as EMAS and limit operations to reduce losses in the close of a contrary candle
I tried this method years ago but I seem it doesn't work, in ranging markets losses are too big.
Quoting Alberto_Jazz
{quote} I tried this method years ago but I seem it doesn't work, in ranging markets losses are too big.
In fact I agree with your comment, that is why capital management is needed and also the number of orders that the bot opens so that it does not have more losses than profits.
I have verified that with renko candles greater than 15 pips, the noise of the market is eliminated much more and although there is a large setback, it does not affect the majority of operations
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Quoting JaimeAlejan
Hello, I have been using this type of renko candle for a few weeks and it has been more comfortable for me for trading systems that I designed. I have some EAs trading with these candles and they work better than traditional candles. Has anyone else tried it before? I annex the indicator that generates this type of Renko Candles {image} {file}
In my opinion I use these type of charts and I'm playing with them on a live account. I think you already need to have a good trade setup before you switch over to this type of chart. If you didn't have one to begin with it's probably not going to work on this chart either. But what you will notice is that if you use indicators on these charts you will smooth out how they look which could be a good thing depending on how you trade


Point of all of it is you can manipulate a chart how you want it to look but at the end of the day you still have to know how to trade or have a trade setup that's good
Quoting hazelj80
{quote} In my opinion I use these type of charts and I'm playing with them on a live account. I think you already need to have a good trade setup before you switch over to this type of chart. If you didn't have one to begin with it's probably not going to work on this chart either. But what you will notice is that if you use indicators on these charts you will smooth out how they look which could be a good thing depending on how you trade Point of all of it is you can manipulate a chart how you want it to look but at the end of the day you still...

Thanks for the answer, if you notice that this type of Charts, even if it is configured with the same number of pips as a normal Renko, is not displayed in the same way. It doesn't even work the same way, at least for me.

for the same return to normal Renko but with Bigger Candles of 15 pips and above in Forex.
after a consolidation the EA Retakes the trend, but until when?
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Quoting JaimeAlejan
{quote} Thanks for the answer, if you notice that this type of Charts, even if it is configured with the same number of pips as a normal Renko, is not displayed in the same way. It doesn't even work the same way, at least for me. for the same return to normal Renko but with Bigger Candles of 15 pips and above in Forex.
15 pips is pretty big for markets that dont move like they did 5-10 yrs ago. might work in gold or NAS100 or something really volatile like BTC or ETH even n the NZD pairs i was trying 10 pips at the most

i tried 5 pip renko but all it did was make my stops wider and get out later so i went to median and/or range bars

but maybe if youre swing trading thats a good # to use
Quoting hazelj80
{quote} 15 pips is pretty big for markets that dont move like they did 5-10 yrs ago. might work in gold or NAS100 or something really volatile like BTC or ETH even n the NZD pairs i was trying 10 pips at the most i tried 5 pip renko but all it did was make my stops wider and get out later so i went to median and/or range bars but maybe if youre swing trading thats a good # to use
Yes, but I have already reviewed the history of some currency pairs and I am choosing which ones have the most marked trend movements despite the fact that it takes a full day for a candle to form, this in order to eliminate market noise. I believe that to obtain clear results it would be necessary to let renko candles of different sizes form in vivo for a whole year.
so far for example the 15 pip renko candles on the GBPUSD and AUDUSD are the best looking at that size
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