Lets Automate a Simple Renko Strategy!

Hey I`ve got question, why is diffrent quotation in my m1 chart and in offline renko chart, for example in 1 min chart is quotation 0.9902 and in renko chart builded by mathtrader7 renko chart creator 1.62 is quotation 0.99069? sorry for language, please help

sorry 0.99062 and 0.99069

Hi Traders!

Does anybody have a free script to convert Dukascopy CSV tickdata to non-gap renko fxt file for good quality (accurate) backtesting?

Thanks

Hi, please help, on the gold where there are quotes 3 decimal places ea works, but if borker has quotes 2 decimal places ea does not work. This is important because the broker with 2 decimal places has a much smaller spread. Please help

I'm not convinced that XAUUSD with a broker having 2 decimals has a much smaller spread. For me what counts is leverage and as you can see the broker with 3 decimals has a much better leverage than the broker with 2 decimals. Best is to have a broker with low spread and high leverage. Of course, because this is the weekend, the spreads don't reflect reality.

Good day all traders, I have the EMA cross over signal alert (MQL4) for the below indicator but it only give on screen alerts can someone please assist in adding a push notification to the code? See below. I have also attached the MQ4 file

/*
+------------------------------------------------------------------+
| Allows you to enter two ema periods and it will then show you at |
| Which point they crossed over. It is more usful on the shorter |
| periods that get obscured by the bars / candlesticks and when |
| the zoom level is out. Also allows you then to remove the emas |
| from the chart. (emas are initially set at 5 and 6) |
+------------------------------------------------------------------+
*/
#property copyright "Copyright 2005, Jason Robinson (jnrtrading)"
#property link "http://www.jnrtrading.co.uk"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 SeaGreen
#property indicator_color2 Red
double CrossUp[];
double CrossDown[];
extern int FasterEMA = 4;
extern int SlowerEMA = 8;
extern bool SoundON=true;
double alertTag;
double control=2147483647;

//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0, DRAW_ARROW, EMPTY,3);
SetIndexArrow(0, 233);
SetIndexBuffer(0, CrossUp);
SetIndexStyle(1, DRAW_ARROW, EMPTY,3);
SetIndexArrow(1, 234);
SetIndexBuffer(1, CrossDown);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start() {
int limit, i, counter;
double fasterEMAnow, slowerEMAnow, fasterEMAprevious, slowerEMAprevious, fasterEMAafter, slowerEMAafter;
double Range, AvgRange;
int counted_bars=IndicatorCounted();
//---- check for possible errors
if(counted_bars<0) return(-1);
//---- last counted bar will be recounted
if(counted_bars>0) counted_bars--;
limit=Bars-counted_bars;

for(i = 0; i <= limit; i++) {

counter=i;
Range=0;
AvgRange=0;
for (counter=i ;counter<=i+9;counter++)
{
AvgRange=AvgRange+MathAbs(High[counter]-Low[counter]);
}
Range=AvgRange/10;

fasterEMAnow = iMA(NULL, 0, FasterEMA, 0, MODE_EMA, PRICE_CLOSE, i);
fasterEMAprevious = iMA(NULL, 0, FasterEMA, 0, MODE_EMA, PRICE_CLOSE, i+1);
fasterEMAafter = iMA(NULL, 0, FasterEMA, 0, MODE_EMA, PRICE_CLOSE, i-1);
slowerEMAnow = iMA(NULL, 0, SlowerEMA, 0, MODE_EMA, PRICE_CLOSE, i);
slowerEMAprevious = iMA(NULL, 0, SlowerEMA, 0, MODE_EMA, PRICE_CLOSE, i+1);
slowerEMAafter = iMA(NULL, 0, SlowerEMA, 0, MODE_EMA, PRICE_CLOSE, i-1);

if ((fasterEMAnow > slowerEMAnow) && (fasterEMAprevious < slowerEMAprevious) && (fasterEMAafter > slowerEMAafter)) {
CrossUp[i] = Low[i] - Range*0.5;
}
else if ((fasterEMAnow < slowerEMAnow) && (fasterEMAprevious > slowerEMAprevious) && (fasterEMAafter < slowerEMAafter)) {
CrossDown[i] = High[i] + Range*0.5;
}
if (SoundON==true && i==1 && CrossUp[i] > CrossDown[i] && alertTag!=Time[0]){
Alert("EMA Cross Trend going Down on ",Symbol()," ",Period());
alertTag = Time[0];
}
if (SoundON==true && i==1 && CrossUp[i] < CrossDown[i] && alertTag!=Time[0]){
Alert("EMA Cross Trend going Up on ",Symbol()," ",Period());
alertTag = Time[0];
}
}
return(0);
}

Quoting an old post. 2881 trades in three months. That is around 47 trades a day! It sounds urealistic if you are using 10 pip bars as the stratery rules states!
Well even if it is right that you did trade 2881 trades, then the result is unreliable. We know that this strategy must run only in volitile periods and not 24 hours each day.
Therefore I think that the strategy is much better than this backtest.

Post is 1438.

With an ATR of less than 50 pips EURUSD is the worst currency pair that we can trade. It would be much better on most GBP pairs. In any case manual trade is best

I agree. A volatile pair on London open and US open. But I surely think that EA's are the only way to make a living. You might be better in some few situations as a human to make fast decissions, but you often don't follow the trading plan and you are much to slow in your reaction. The renko bars can rise or fall very very fast and it is all over before you have a chance to do anything.

Now this strategy here I would change so that in stead og put in SL or TSL, I would hedge it. Often the trend is long and it has some small hickups that are bigger than 2 or 3 bars and then it continue in the trend. With hedging you can stay in the trend longer. I will try to make such an EA when I get the time.

Is it possible to make a new version where you multiply the whole pip value by a constant number. I want to multiply the ATR resultant pip value by 0.375. Thanks.

Hi Mathtrader7,

It would be of great help if you could share Mt5 version of the EA.

Thanks

Hi Mathtrader7,

I managed to get a MT4 copy of the EA (MathtTader7_RenkoEA 2.60). My understanding of the EA logic is , post 2 bars above or below the two moving averages a trade will be initiated.

I may be wrong please correct me.

With my understanding I was expecting for a SELL trade to be initiated , but it did not. I have attached the screen shot. Please can you help.

Thanks

Hi Mathtrader7,

After a long time a trade was initiated by the EA with default settings. But it is against the logic which I understood.

Please can you look into this.

Thanks

But veery long time maybe.. i tried this one of almost 24hs and didnt opened any trade

Hi all,

anybody out there trading the original system?

After canceling "offline" and restarting the profile, renko will be canceled. Any idea?

I'm not using this system but there are lots of other good Renko strategies. If you want to test mine please read these two threads:

https://www.forexfactory.com/showthr...5#post12929395

https://www.forexfactory.com/showthr...9#post12931649

Or you might want to test these two strategies located in the same thread:

Intrepidpips posted his strategy here https://www.forexfactory.com/showthr...8#post12932508

FxSniper111 posted his strategy here https://www.forexfactory.com/showthr...0#post12932830

Can't advise EA on Renko charts?

I prefer trading manually but here is a trading EA for Renko charts but I have no clue on how well it works. Have fun