Lets Automate a Simple Renko Strategy!
- #2,522
- Nov 24, 2017 7:55am Nov 24, 2017 7:55am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
- #2,524
- Nov 24, 2017 8:40am Nov 24, 2017 8:40am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
If you lef the robot without sl or tp it will close the trade when 1 block show from other color, its same for the close (sl). i will liked if i may chose how many brikcs to close. Downtrend -----> opositive candle show (bot close de sell), but i wanna close it in the second or thirth brick. You understand what i mean? if won dont worry i will send you a email with image jejeje on the weekly report
In back testing it is possible for the back tester know the close price and open price of the renko block
Live is a different story
- On retrenchment it takes 2 blocks for the Renko to make one block in the new direction.
- Make a renko block size 1 or 2.
- Watch on the offline chart how the price move between the open / close of the previous completed block.
- When it pass the open / close of previous completed block it starts a new bar.
- Renko cancel the new bar every time the price move's back past the open / close of the previous completed block.
- So every time Renko move past the blouband / close / open a order will be triggered.
Close 2 - Easy to code
Close 3 - Easy to code
The expert is set to close order's on close 2
- #2,526
- Edited 11:25am Nov 24, 2017 11:11am | Edited 11:25am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
Why the bot doesnt close the trades on the first retracement? and doit in the second one? can you give me your .set to see it?
If you can not understand this:
- On retrenchment it takes 2 blocks for the Renko to make one block in the new direction.
How are you going to understand this?
The best is to find a webpage that can explain
https://www.tradingview.com/wiki/Renko_Charts
- #2,530
- Nov 27, 2017 12:39am Nov 27, 2017 12:39am
- Joined Nov 2015 | Status: Member's sanity currently on AWOL | 8,930 Posts
{quote} renkolivecharts_pimped_v4_13 is not based on ATR - CalculateBestBoxSize set to false will use price to build renko block's - UseATRMA is used only once in the program and that is in the void function for ATR What make you say pimped use ATR instead of price. Can you show a picture. Try this: https://www.forexfactory.com/showthr...10523534#reply
I saw the "note" in the EA and got carried away.
- #2,534
- Edited Dec 22, 2017 7:19am Dec 21, 2017 1:16pm | Edited Dec 22, 2017 7:19am
- | Joined Dec 2017 | Status: Trader | 3 Posts
{quote} Dear ordosgoitia, Your EA is ready, i've briefly forward-tested it, opened and closed several deals w/o errors. Please report your results, bugs. Be aware - it may lose in ranging markets. EA needs to have yzyz.ex4 indicator in your MQL4\Indicators folder. {file} {image}
Just joined to this site, but I took a look three months ago to this forum and specially to this EA created by Sevan62 using yzyz indicator rocomended by Ordosgoitia. The first concept was to trade every signal by yzyz indicator, the signals are EMAs crossing, 3EMA as fast and 5EMA as smooth. Of course using it only in renko charts.
But I noticed very quick that you can loss the chance to achieve a long trend and gain lots of pips if you use only this concept, so I added other order for every signal (BTW my english is bad and I hope you all understand what I mean here)
My strategy is like this:
- Signal appears, open two trades (one with take profit 40pips and the other without take profit and let it go until the other signal appears)
- The lot zise I used was this: 0.05lots for the order with TP 40pips and 0.1lots for the order without TP
- When the opposite signal appears close the orders or the order left and open two new trades with same lot size as I explained above
I tested this strategy like a robot, I mean I opened trades in every single signal, or tried to trade almost all the signals not caring about the trend, supports and ressintences, news or range markets, I wanted to try it like this to test the strategy in every scenario, during almost two months manually in demo account with good results. Yes with range markets you can get conssecutive losses, but working with EMAs with very small periods in renko chart, the losses most of the times are not more than 10 or 20 pips (of course this means if you loss 20 pips, you loss 40 pips, 20 pips per order), even can be 0 pips several times and rarely can be more than 30 pips. But you can get surprissed the times your TP order can reaches 40pips and the other order can take 10, 20, 30, 40 pips or even better you can take advantage of a long trend and gain 80, 90, 100 and more pips.
If you see the image I attached, you can see a little example since December 13 until today December 21 un EURUSD RENKO CHART, 8 orders (two trades per order), 100pips losses (50pips 0.05lot order and 50pips 0.1lot order), and 380pips won (200pips 0.05lot orders and 180pips 0.1lot orders)
So I hope Sevan62 can see this post and make a little change in the RenkoSimple_yzTP EA adding an option to set two orders at same time when every signal appears, each order with SL, TP and lot size options so everyone can configure it by themselves. but my idea is, as I already told here and showed you in the attached image, set only one order with take rpofit and let the other go until the toher siganl appears, close the order and open two new orders again with the oher signal. Or if other Coder can do this would be very helpful to test it and see if can be a good EA for Renko Chart using this strategy
here I attache the EA, the yzyz indicator and the renko chart EA I use.
Hope you all are having a great December and sorry again for my english
- #2,537
- Edited 6:01am Dec 23, 2017 5:50am | Edited 6:01am
- | Joined Dec 2017 | Status: Trader | 3 Posts
{quote} Haven't you noticed a big problem with the yzyz indicator? Put a 3 ema and 5 ema on your renko chart and you will see that the yzyz indicator does not show an arrow for all the ema crosses. You will notice that if there is an ema cross and the next bar reverses, there is no arrow. In other words, there are more losses than you realize.
And yes sometimes there are cases yzyz does not show the arrow when there are some EMA crosses because the 3EMA has to be 100% formed over the block/candle, and honestly I love it. (my english is not the best, hope you get what I meant)
In examples like this are the only times I've seen yzyz indicator does not show the arrow. And look at the image, maybe if I trade manually only using the EMAs without the yzyz indicator, I would have opened two orders there and I would have lossed my trades, because in the next block there is a real EMA crosses
As I said in my first post above, I only would love to test a EA like RenkoSimple yzTP created by Sevan62 but adding the option to open two orders at same time with LP, TP and Lot size each order, I'd set one order with TP 40 pips and the other order let it go til the other signal appears
- #2,538
- Edited Jan 5, 2018 5:45am Jan 4, 2018 4:41pm | Edited Jan 5, 2018 5:45am
Mathtrader7!
I just have a question for you. Is it possible to make an EA based on renko system like :
AND double cci 
like this: 
And the trade start on the second opposite candle and it has to be in a trend. The setting in double cci1 is :5 and cci2: 70 and the level is over 50 both ways I ment second candle. Sorry. And the yellow moving average is 100. Purple is 50 and blue is 21. Stochastic is over 80 and under 20.but this setting is in the 2.99 file
Best regards
Henning Berge
I just have a question for you. Is it possible to make an EA based on renko system like :
Here is Version 2.99 of the EA that lets the user enable/disable additional check for the slope of the two moving averages. In this version the EA exits by opposite candle only if the position is in profit. {file}
like this: I ment second candle. Sorry. And the yellow moving average is 100. Purple is 50 and blue is 21. Stochastic is over 80 and under 20.but this setting is in the 2.99 fileBest regards
Henning Berge