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Non-gap Renko Chart Creator EA

  • #461
  • Jun 18, 2019 11:23am Jun 18, 2019 11:23am
Quoting PipsTorrent
{quote} 1. Download MathTrader7_RenkoChartCreatorEA.ex4 from the attachments and copy it into your Experts folder. 2. Enable Allow DLL import in Tools>Options>Expert Advisors tab. 3. Refresh your MT4 platform's navigator window (or restart MT4). 4. Open a M1 chart (for example, EURUSD, M1) and attach the EA to the chart. 5. Wait for the EA to convert the history data of M1 bars into Renko bricks. 6. From File menu, select Open Offline and choose the symbol with the selected Renko time frame (for our example, it is EURUSD, M2 chart). Now you can...
that what I did but still get the same thing
  • #462
  • Jun 18, 2019 1:33pm Jun 18, 2019 1:33pm
Quoting hmmoor11
{quote} that what I did but still get the same thing
If you are using the MathTrader7_RenkoChartCreatorEA, The offline chart is by default M3, except you changed it yourself in the MathTrader7_RenkoChartCreatorEA.
The MathTrader7_RenkoChartCreatorEA has be programmed to automatically open its offline M3. once you dropped it on the M1 though you can drop it on any time frame chart though M1 may still be more accurate.
Another thing make sure you have downloaded your mt4 history
  • #463
  • Edited 3:54pm Jun 18, 2019 2:22pm | Edited 3:54pm
Quoting hmmoor11
hi please how can I solve this problem ? {image}
You are trying to run one of my Renko trading EAs on a chart which is not a non-gap Renko chart. All my Renko trading EAs are locked to work only on non-gap Renko charts.
Trading is the hardest way to make easy money...
  • #464
  • Jun 19, 2019 2:54pm Jun 19, 2019 2:54pm
Quoting MathTrader7
{quote} You are trying to run one of my Renko trading EAs on a chart which is not a non-gap Renko chart. All my Renko trading EAs are locked to work only on non-gap Renko charts.
I was trying use MathTrader7_RenkoChartCreatorEA.ex4 because I thought is non gap renko
so please tell me how can I get your EA?
  • #465
  • Jul 1, 2019 7:42am Jul 1, 2019 7:42am
Great work, thanks. I still also use your atr bands with alerts for over 4 years.
To see more bricks on 1 chart, people created mean or medium renko chartbuilder. Can you add that option, that new bricks begin in the median of the last brick.
Neighbouring Mean Renko bricks overlay by 50%.

To see same signals after mt4 restart, it would be good, if the calculation begins each day at a specific, chosen time. This way, every kind of repainting isn't possible anymore.

As an idea, an indicator has more options than a renko-builder ea. Sometimes with a symbol changer on 1 min chart, some ea crash, but we may want to check several pairs in a row with low cpu usage. It would be a great help, if you post the mq4-file as coding renkobuilder is not such a big secret. These are just suggestions as I use renko many years. Thanks.
Attached File(s)
File Type: ex4 MathTrader7_ATRBands_with_Alerts.ex4   12 KB | 652 downloads
  • #466
  • Edited 2:51pm Jul 2, 2019 12:26pm | Edited 2:51pm
Quoting friend4you
Great work, thanks. I still also use your atr bands with alerts for over 4 years.
You're welcome!

Quoting friend4you
To see more bricks on 1 chart, people created mean or medium renko chartbuilder. Can you add that option, that new bricks begin in the median of the last brick. Neighbouring Mean Renko bricks overlay by 50%.
Median Renko is an unrealistic representation of the market price, which produces incorrect backtesting of my EAs. Thus, I won't use any unrealistic representation of the market price in my trading and therefore I won't program chart creators for them.

Quoting friend4you
To see same signals after mt4 restart, it would be good, if the calculation begins each day at a specific, chosen time.
Good suggestion! I will think about it.

Quoting friend4you
This way, every kind of repainting isn't possible anymore.
This is wrong! In the absence of having access to the history data of every ticks, it will repaint to some degree even if we always start at the beginning of the same day.

Quoting friend4you
As an idea, an indicator has more options than a renko-builder ea. Sometimes with a symbol changer on 1 min chart, some ea crash, but we may want to check several pairs in a row with low cpu usage.
I didn't get your message!

Quoting friend4you
It would be a great help, if you post the mq4-file as coding renkobuilder is not such a big secret. These are just suggestions as I use renko many years. Thanks. {file}
I won't share the source code of my software. This is my personal source code policy.
Trading is the hardest way to make easy money...
  • #467
  • Jul 3, 2019 8:55am Jul 3, 2019 8:55am
you need MT5 to create accurate renko charts otherwise it will be artificially enhanced in favor of trend trading

for instance you have a bearish candle of 150 pips, the EA will create 10 consecutive up boxes, but you don't know what happened inside the candle, the price certainly didn't go up in a straight line, but rather oscillated. So you can't make a correct renko on MT4.

Only MT5 allows to read past tick data
  • #468
  • Jul 4, 2019 6:05am Jul 4, 2019 6:05am
Quote
You're welcome! ... Median Renko is an unrealistic representation of the market price, which produces incorrect backtesting of my EAs. Thus, I won't use any unrealistic representation of the market price in my trading and therefore I won't program chart creators for them.

That's not true. It does not change the data, just the point, where a new brick starts, in the median, not over the last. This way, your chart is not just 50 bars up, you see the whole chart as it is stuffed together.

{quote} I didn't get your message!

I just say a indicator is easier to handle on mt4, you can put more than one on a chart to see 4 and 6 brick renkos from one 1 minute chart, it's often more stable etc.

The tick data problem can be solved, if your ea creates tick data files (as mt5 has) and chart creating always starts with one (sometimes big) bar at the last known tick. To start every day at a specific time is also helping.
The repainting problem is none as far as I see, because the bricks within the charts after starting mt4 are consistent and not changing, correct?
Why are not many people using renko?
Is it true, that on mt5, if you create a renkochart with a builder, you cannot use any indicators on that chart?
  • #469
  • Jul 4, 2019 6:05am Jul 4, 2019 6:05am
Quoting ionone
you need MT5 to create accurate renko charts otherwise it will be artificially enhanced in favor of trend trading for instance you have a bearish candle of 150 pips, the EA will create 10 consecutive up boxes, but you don't know what happened inside the candle, the price certainly didn't go up in a straight line, but rather oscillated. So you can't make a correct renko on MT4. Only MT5 allows to read past tick data
Hi Ionone,

I hope I have understood you correctly - but I've never experienced the effect you describe using this EA or the only other Renko generator I have used in MT4. I often use an H1 bar chart in parallel with my Renko charts and I have never seen the Renko chart draw a straight line of bricks when the H1 bar is swinging (oscillating) long and short during the hour period. I've only seen the Renko chart oscillate in the same way the H1 chart does. It would be a very useless tool if it didn't! I can't comment on MT5 because I have never used it.
Everything should be made as simple as possible, but no simpler - Einstein
  • #470
  • Jul 4, 2019 6:09am Jul 4, 2019 6:09am
Quoting Davidh061
{quote} Hi Ionone, I hope I have understood you correctly - but I've never experienced the effect you describe using this EA or the only other Renko generator I have used in MT4. I often use an H1 bar chart in parallel with my Renko charts and I have never seen the Renko chart draw a straight line of bricks when the H1 bar is swinging (oscillating) long and short during the hour period. I've only seen the Renko chart oscillate in the same way the H1 chart does. It would be a very useless tool if it didn't! I can't comment on MT5 because I have never...
yes because you're using it live. when used live there is not problem, only problem occurs for past datas : you create a renko chart, apply indicators and you thought you found a good strategy, but you run it live and it fails...MT4 is ok for live realtime renko generator but not offline
  • #471
  • Jul 4, 2019 6:26am Jul 4, 2019 6:26am
Quoting ionone
{quote} yes because you're using it live. when used live there is not problem, only problem occurs for past datas : you create a renko chart, apply indicators and you thought you found a good strategy, but you run it live and it fails...MT4 is ok for live realtime renko generator but not offline
My apologies!
Everything should be made as simple as possible, but no simpler - Einstein
  • #472
  • Jul 4, 2019 8:53am Jul 4, 2019 8:53am
There are several Renko types with different offsets (where next bar begins) and ideas like backtest scripts at az-invest.eu website (I have no connection to that page, few free stuff there).
Are there differences, if I use EA on other than recommended 1 min timeframe?
  • #473
  • Jul 9, 2019 7:34pm Jul 9, 2019 7:34pm
Hello traders,
I am really enjoying trading with the renko indicator shared here. I am wondering if someone can share the codes of mathtrader7 no gap renko.
Thanks
  • #474
  • Jul 19, 2019 11:08am Jul 19, 2019 11:08am
Hi, I use renko for my trading sessions and would like to automate my technique. I read on the first post that MathTrader7 has its own way of backtesting renko based robots, I tried the suggested one but I found it very inaccurate. The problem is that the renko must be created starting from ticks, instead the test method I read on the forum creates a renko based on OHLC values and makes the backtest staggered. I would like to ask MathTrader7 to describe his personal way of performing the tests. Thanks and good trading to all.
  • #475
  • Jul 19, 2019 4:09pm Jul 19, 2019 4:09pm
Quoting danieleipj
Hi, I use renko for my trading sessions and would like to automate my technique. I read on the first post that MathTrader7 has its own way of backtesting renko based robots, I tried the suggested one but I found it very inaccurate. The problem is that the renko must be created starting from ticks, instead the test method I read on the forum creates a renko based on OHLC values and makes the backtest staggered. I would like to ask MathTrader7 to describe his personal way of performing the tests. Thanks and good trading to all.
Please visit this post and the following discussion:

https://www.forexfactory.com/showthr...3#post11286463
Trading is the hardest way to make easy money...
  • #476
  • Aug 2, 2019 1:54am Aug 2, 2019 1:54am
Hi MT7,

I've been using your EA for some time now with good results from the way I trade. One thing I have noticed is when I come to start up in the morning, the Renko charts do not completely reflect the H1 bar charts I am also using. The current price on the offline (M3) chart is OK, but the historic shape of the Renko chart can differ from the H1 chart. I'm looking for current high/low's on the H1 chart which aren't always represented on the Renko chart. If I reset the EA on the M1 chart the offline chart reshapes to resemble the H1 chart accurately. The settings of the EA are default apart from I'm using 50 point (5 pip) bricks. Its not a massive problem because I don't trade too many pairs, but if there is a fix it would be useful.

Cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #477
  • Aug 2, 2019 3:46am Aug 2, 2019 3:46am
Quoting Davidh061
Hi MT7, I've been using your EA for some time now with good results from the way I trade. One thing I have noticed is when I come to start up in the morning, the Renko charts do not completely reflect the H1 bar charts I am also using. The current price on the offline (M3) chart is OK, but the historic shape of the Renko chart can differ from the H1 chart. I'm looking for current high/low's on the H1 chart which aren't always represented on the Renko chart. If I reset the EA on the M1 chart the offline chart reshapes to resemble the H1 chart accurately....
Hi Dave! Which version of MathTrader7_RenkoChartCreatorEA.ex4 are you using?
Trading is the hardest way to make easy money...
  • #478
  • Aug 2, 2019 3:49am Aug 2, 2019 3:49am
as i said before and always i trust math in my life
  • #479
  • Aug 2, 2019 3:56am Aug 2, 2019 3:56am
Quoting MathTrader7
{quote} Hi Dave! Which version of MathTrader7_RenkoChartCreatorEA.ex4 are you using?
Hi MT7! Version 1.62
Everything should be made as simple as possible, but no simpler - Einstein
  • #480
  • Aug 2, 2019 4:04am Aug 2, 2019 4:04am
Quoting Davidh061
{quote} Hi MT7! Version 1.62
Version 1.62 is supposed to use M1 data regardless of which timeframe you attach the Renko creator EA to. I need to double check it.
Trading is the hardest way to make easy money...
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