Hey MathTrader, thanks for these indicators and for keeping this thread going!
I tried that method from the first page and it didn't work so I thought maybe some could help me figure out why???
Also I have a couple of questions for you if thats ok.
1. When I loaded the same chart with all the same settings on 2 different days the candles were placed slightly differently? What does this mean exactly?
2. There were a couple of occasions where the chart printed 2 candles of the same colour, I had to close the chart and start it again for them to correct themselves.
Do you know how I could fix these 2 issues?
Thanks
Edit: How much is a point worth in pips? I saw 2 conflicting posts?
Sorry for all the questions, I want to get all this right before trading live.
2. There were a couple of occasions where the chart printed 2 candles of the same colour, I had to close the chart and start it again for them to correct themselves.
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I haven't seen such behavior yet. If you can capture a screenshot and upload it here, I may figure out what the problem could be to fix it.
How much is a point worth in pips? I saw 2 conflicting posts?
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Depending on the broker's digits, 1 point could have different values regarding a pip. For example, if yours is a 5-digit broker, 1 pip of EURUSD is equal to 10 points.
Version 1.53 of single-symbol Renko creator EA released (I updated Post 1). In this version, the user can select the price type between three choices: Bid, Ask or (Bid+Ask)/2.
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What is the reasoning behind the three different price types, if I may ask? And why does the Multi Chart Creator no longer use it?
{quote} What is the reasoning behind the three different price types, if I may ask? And why does the Multi Chart Creator no longer use it? Thanks for your work.
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Hi PipsTorrent!
On the same symbol (such as EURUSD), some Renko scalpers (including me) create two Renko charts each is built with different price type - one with Bid prices, and the other with Ask prices. Having those charts side by side visualize the changes in the spread which is itself an indicator for better entry and exit for scalping.
Joined Jan 2006
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Status: Senior Member
|735 Posts
Hi Matt,
I am using your MathTrader7_RenkoChartCreatorEA to create a M6 chart and when I followed your instructions to download more detailed data, I got this warning (see screenshot).
Any suggestions please?
I am trying to get my NonLag_MACD_EA to work on my Renko charts, but without any success. Nwesterhuijs recommended me asking you for advice please.
Looking forward to hearing from you.
Hi Matt, I am using your MathTrader7_RenkoChartCreatorEA to create a M6 chart and when I followed your instructions to download more detailed data, I got this warning (see screenshot). Any suggestions please? I am trying to get my NonLag_MACD_EA to work on my Renko charts, but without any success. Nwesterhuijs recommended me asking you for advice please. Looking forward to hearing from you. {image}
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Hi Hercs,
You can use the automated method described in Post 1:
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.
As I understand NON gap renko is better for backtesting. So for live renko trading is not? Should I use NON GAP RENKO for Backtesting and other Ea for live?
I´m trying to develop a strategy based on renko, but entries are triggered by EMAs and other indicators, so: Does the NON GAP renko affect the values of EMAs and indicators?
{quote} Hi Hercs, You can use the automated method described in Post 1: 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.
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Thanks very much, Matt.
The script is a gem.
Will keep you posted regarding the EA working or not.
Continued success to you.
Hello Mathtrader7, I´m getting an error, maybe it´s mentioned but couldn find it. I create Offline Renko and save data on CSV with "Save as" from MT4. (couldn't do it with automated method) Then, go offline and load the CSV data on M5 or M15 but I get renko with gaps in some candles, like they are out of place. When I check CSV I see that it happens when I have 3 candles at the same time like "07:43:00" but with different prices. Thanks a lot.!
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In MT4, if two candles have the same time labels there could be a gap in the chart. This happens when there is a price jump (in a very short time) more than the Renko brick size.
One more question, please. As I understand NON gap renko is better for backtesting. So for live renko trading is not? Should I use NON GAP RENKO for Backtesting and other Ea for live? I´m trying to develop a strategy based on renko, but entries are triggered by EMAs and other indicators, so: Does the NON GAP renko affect the values of EMAs and indicators? Thank you again, great job!
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If you would like to have the same results as in the backtest, then you should continue with the same method you used in the backtest for a forward test / live trading, right?
I use non-gap Renko charts for backtesting and if the strategy works well on the backtest, I will use non-gap Renko charts for forward tests / Live trading.
Hi guys n Gals ,, I have been using Renko combined with my other time frame charts, and just set up EA from post 1, in the hope it will work and I will not have to sit in front of 3 screens everyday, any suggestions would be good , and my existing Renko chart is good and I can post a pic if you want a peek ,,
{quote} Thanks Matt, the EA is finally working. Could you possibly give me some advice on my EA and if not here, where can I go to please? Thanks in advance.
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Hi Hercs,
I don't know which EA you are referring to, but if your EA is a Renko trader, you can post it in "Renko Trading Discussion" thread under "Trading Discussion" forum.
Hi Math, thank you very much for your Renko Indicators! Is there the possibility to draw the upper and lower whicks starting from the extreme of the candle to the open of the previous bar? In this way the body will be the same on every candle. Just a different way to see the candles. Thank you!
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Hi Alberto!
I think I didn't understand what you are suggesting. Could you come up with some illustration?
