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RENKO Trading SYSTEM - RENKO Indicators

  • Post #1
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  • First Post: Jul 19, 2016 3:31am Jul 19, 2016 3:31am
  •  fxguru2010
  • | Joined Dec 2012 | Status: Member | 203 Posts
Hello Traders, Looking at an MT4 RENKO indicators / EAs. I will greatly appreciate if you guys can point me in the right direction or share anything that has worked for you.

I am looking for Indicators or EAs which uses Renko
  • Post #2
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  • Jul 19, 2016 3:32am Jul 19, 2016 3:32am
  •  fxguru2010
  • | Joined Dec 2012 | Status: Member | 203 Posts
Is it possible to have the charts having LIVE RENKO rather then having OFFLINE charts on MT4? if so how?
 
 
  • Post #3
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  • Jul 19, 2016 4:05am Jul 19, 2016 4:05am
  •  ghostbiker
  • | Commercial Member | Joined Jul 2015 | 4,678 Posts
@Guru: have you any idea for Renko trading ?
 
 
  • Post #4
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  • Jul 19, 2016 5:46am Jul 19, 2016 5:46am
  •  fxguru2010
  • | Joined Dec 2012 | Status: Member | 203 Posts
Quoting ghostbiker
Disliked
@Guru: have you any idea for Renko trading ?
Ignored
I had the following strategy in mind, manually it works brilliant

  1. Chart tF M8
  2. EMA = 55ema

Strategy

  1. Break or Bounce of 55ema
  2. USe OPTO123 ea as per attached, Using this just to get the 123 setup ( AFTER Break or bounce of 55ema)
  3. Enter on renko brick change colour
  4. MACD is above the waterline
  5. MACD histogram for M8 and M15 rising

The OPTO123 i got it from the forum, the guy who programmed it made it so complicated, maybe deliberately, but it uses a zigzag indicator
Can any programmer simplify this?

Testing this manually on a live account, so far getting good results, but needs to fine tune the entries to get better results.

Any suggestions would be helpful

Dont like to use OFFLINE charts, is there a way out?
Currently using IT0-finance charts for M8 and RENKO and then use an MT4 broker to trade, which means i could lose time by not getting extra pips

I am sure that there must be a RENKO indicator at the bottom, just like macd etc which will do the work and i can have LIVE charts

also M8 not availble on MT4 unless i do OFFLINE

hope the above ideas are usefull - lets build a system together.

Manually getting good results, but often miss the entries thats why need to automate it

Attached File(s)
File Type: mq4 Opto123 v1.52.mq4   47 KB | 1,825 downloads
 
 
  • Post #5
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  • Jul 19, 2016 5:47am Jul 19, 2016 5:47am
  •  fxguru2010
  • | Joined Dec 2012 | Status: Member | 203 Posts
Why M8?
have tried many TF - best results are coming from M8
 
 
  • Post #6
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  • Jul 19, 2016 9:05am Jul 19, 2016 9:05am
  •  fxguru2010
  • | Joined Dec 2012 | Status: Member | 203 Posts
OPTO123 is good ONLY on a trending market, I only use it for the 123 setup
be careful if you guys use it live
 
 
  • Post #7
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  • Jul 20, 2016 9:24pm Jul 20, 2016 9:24pm
  •  ramzam
  • Joined Nov 2015 | Status: Member | 2,963 Posts
this one i have but never used because not interested. if useful please
Attached File(s)
File Type: ex4 RenkoLiveChart_v3.2.ex4   12 KB | 2,370 downloads
Success is a Journey Not a Destination....... kind regards ramzam
 
 
  • Post #8
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  • Last Post: Sep 28, 2020 8:52pm Sep 28, 2020 8:52pm
  •  Splen
  • | Joined Sep 2020 | Status: Junior Member | 1 Post
Quoting ghostbiker
Disliked
@Guru: have you any idea for Renko trading ?
Ignored
Can i use renko chart using Mt4 mobile app?
 
 
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