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Trading Renko

  • #981
  • Sep 4, 2018 5:52pm Sep 4, 2018 5:52pm
Did you investigate Tradingview? My backtest provides major encouragement. Suggest you get cracking with your effort. At present doing the setup for paper trading and then hopefully going live doing bot trading.
  • #982
  • Sep 17, 2018 1:19pm Sep 17, 2018 1:19pm
Quoting Nagpada
Did you investigate Tradingview? My backtest provides major encouragement. Suggest you get cracking with your effort. At present doing the setup for paper trading and then hopefully going live doing bot trading.
No, I just use mt4. I tried to run it on demo but I just keep changing the strategy. My bad. You have any result?
Trend. Price. And nothing else matters.
  • #983
  • Sep 18, 2018 2:01pm Sep 18, 2018 2:01pm
I think the renko colour changing strategy not works. We need to minimize the reversal loss amount then use the price cross moving average strategy. So I will use median or shift renko for this strategy. Let see how it goes.
Trend. Price. And nothing else matters.
  • #984
  • Sep 18, 2018 9:45pm Sep 18, 2018 9:45pm
Well as usual you guys are making this harder than it needs to be.
I trade futures, the YM, and CL.
All I need is to make in the case of YM or CL is 5 points per day.. With the ES you could do this with 1 point.
No need to sit in front of the monitor for more than a couple hours ... 9:00 AM to 11:00 AM NY time.
I trade a 15 point brick and my settings take 10 points out of it.
Here is a spreadsheet that shows just how profitable this can be.
You add profits by increasing your position size... Not your screen time.
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  • #985
  • Edited 10:44pm Sep 18, 2018 10:31pm | Edited 10:44pm
This mornings trade by the way...
One and Done for 23 points in the YM.
1 contract, 23 points = $115..........
Attached Image
  • #986
  • Sep 20, 2018 3:09am Sep 20, 2018 3:09am
Quoting tradestar1
This mornings trade by the way... One and Done for 23 points in the YM. 1 contract, 23 points = $115.......... {image}
thanks for sharing.

what is your strategy for buy/sell entry?
how do you handle the reversal brick loss?
Trend. Price. And nothing else matters.
  • #987
  • Sep 20, 2018 12:50pm Sep 20, 2018 12:50pm
Quoting forex_lover
{quote} thanks for sharing. what is your strategy for buy/sell entry? how do you handle the reversal brick loss?
As you have probably noticed a very high percentage of the time when a renko brick has changed it will follow through with one more brick.... Yes there are some times when it goes into an alternating range but the follow through is more prevalent.

I generally use a 15 point brick and a 10 point TP when the brick changes I get in and get my 10 and out.... I am working on getting a few more points but I will go into that later.

Here are the last couple trades... Yesterday was a real cluster*&^%. I had reset some settings and forgot to put them back......
Today was better...LOL
Attached Images
  • #988
  • Sep 21, 2018 3:41am Sep 21, 2018 3:41am
Quoting tradestar1
This mornings trade by the way... One and Done for 23 points in the YM. 1 contract, 23 points = $115.......... {image}
Are the tails on the Renko Bars significant ?
every Saint has a past. Every Sinner has a Future
  • #989
  • Sep 21, 2018 9:39am Sep 21, 2018 9:39am
This mornings trade.... back on track.....
Regarding the tails. They let you see what the price rang was during the makeup of the bar. I don't need them but I like to see where price has been.
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  • #990
  • Sep 21, 2018 11:44am Sep 21, 2018 11:44am
Quoting tradestar1
{quote} As you have probably noticed a very high percentage of the time when a renko brick has changed it will follow through with one more brick.... Yes there are some times when it goes into an alternating range but the follow through is more prevalent. I generally use a 15 point brick and a 10 point TP when the brick changes I get in and get my 10 and out.... I am working on getting a few more points but I will go into that later. Here are the last couple trades... Yesterday was a real cluster*&^%. I had reset some settings and forgot to put...
So you get a series of Green Renko Bars up -Next Renko Bar changes to RED and you enter a short upon the open of the next ( hopefully) Red Renko bar ?
every Saint has a past. Every Sinner has a Future
  • #991
  • Edited 9:47pm Sep 21, 2018 5:46pm | Edited 9:47pm
Quoting turnip15
{quote} So you get a series of Green Renko Bars up -Next Renko Bar changes to RED and you enter a short upon the open of the next ( hopefully) Red Renko bar ?
In it's simplest form yes that is it .
Don't forget about your risk management.
  • #992
  • Sep 23, 2018 7:08am Sep 23, 2018 7:08am
Quoting tradestar1
{quote} In it's simplest form yes that is it . Don't forget about your risk management.
Might also work with "Range bars" ?
every Saint has a past. Every Sinner has a Future
  • #993
  • Sep 23, 2018 3:25pm Sep 23, 2018 3:25pm
Quoting turnip15
{quote} Might also work with "Range bars" ?
Might but I have found the Renko better and clearer.
  • #994
  • Sep 24, 2018 9:56am Sep 24, 2018 9:56am
This mornings trades.
I was a little late getting in today but it all worked out fine.
Done for the day................
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  • #995
  • Sep 24, 2018 10:25am Sep 24, 2018 10:25am
Quoting tradestar1
This mornings trades. I was a little late getting in today but it all worked out fine. Done for the day................ {image} {image}
I am not an MT4 fan. May I ask what platform you use and are Renko bars included ?
every Saint has a past. Every Sinner has a Future
  • #996
  • Sep 24, 2018 5:12pm Sep 24, 2018 5:12pm
Quoting turnip15
{quote} I am not an MT4 fan. May I ask what platform you use and are Renko bars included ?
I don't blame you... MT sucks.

I use MotiveWave Strategy Edition with the Advanced Charts Package and Renko charts are included.
You can get a free 14 day trial ... just ask for the edition you want to try because otherwise the trial is of the Ultimate Edition.
Bunch of crap you don't need in that one.
The Trade Edition is $295 and the advanced Charts package is $249. Those are lifetime licenses.
There is a optional updates package but you get a year free with the platform. If you need an update after that you only pay for that and it covers you for a year...
https://www.motivewave.com

If you decide to get MotiveWave let me know, I will be happy to help you with the platform.
  • #997
  • Sep 25, 2018 4:46am Sep 25, 2018 4:46am
Quoting tradestar1
{quote} Might but I have found the Renko better and clearer.
Hi TS

Nice to see you back at FF after a prolonged absence. May I ask, have you stopped trading the 5/5 and 10/10 cross?

Thank you
  • #998
  • Sep 25, 2018 5:25am Sep 25, 2018 5:25am
Quoting tradestar1
{quote} I don't blame you... MT sucks. I use MotiveWave Strategy Edition with the Advanced Charts Package and Renko charts are included. You can get a free 14 day trial ... just ask for the edition you want to try because otherwise the trial is of the Ultimate Edition. Bunch of crap you don't need in that one. The Trade Edition is $295 and the advanced Charts package is $249. Those are lifetime licenses. There is a optional updates package but you get a year free with the platform. If you need an update after that you only pay for that and it covers...
Do they have Point O Chart? It's a kind of Renko that shows every move price makes a little like Range bars. I can't trade with any other offline chart apart from POC, the only one that comes close is Mathtrader7 Renko Multichart creator (Non gap)

I subscribe to your approach, just consistently take 10 pips daily and compound it and build a tidy equity mountain.

Missed this morning's moved but waiting patiently.
Attached Image (click to enlarge)
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Let it turn and find your entry.
  • #999
  • Sep 25, 2018 8:44am Sep 25, 2018 8:44am
Quoting Zoog
{quote} Hi TS Nice to see you back at FF after a prolonged absence. May I ask, have you stopped trading the 5/5 and 10/10 cross? Thank you
Hi Zoog...
Yup it's been a while for sure.
I quit trading FX quite a while ago and moved over to futures. I spend less screen time and make better gains now. I still look at FX a bit but I am happier now.
My old 5/5 and 10/10 are what I built from except that now I use Renko bars .... It is working out much better.
Happy pips to you and I hope trading is being good to you.
  • #1,000
  • Sep 25, 2018 8:50am Sep 25, 2018 8:50am
Quoting Intrepidpips
{quote} Do they have Point O Chart? It's a kind of Renko that shows every move price makes a little like Range bars. I can't trade with any other offline chart apart from POC, the only one that comes close is Mathtrader7 Renko Multichart creator (Non gap) I subscribe to your approach, just consistently take 10 pips daily and compound it and build a tidy equity mountain. Missed this morning's moved but waiting patiently. {image}
I am not sure what you mean by Point O Chart.
MotiveWave supports Standard Bars, Renko, Range, Point and Figure, Tick, Heiken Ashe, Percent Change and Volume Bars.
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