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Non-gap Renko Chart Creator EA

  • #621
  • Apr 22, 2020 3:16pm Apr 22, 2020 3:16pm
Quoting daro84
Hi @Mathtrader I´m using your Renko EA and its perfect. I have a question, can you add an output bars limit? I mean max. Renko bars that will be generated? So this way the m3 offline chart will have lets say only 500 bars. At least during the startup, because of course as new bars are generated in real time, more bars will be added to the offlice chart file. This is to reduce cpu usage. I tried to limit using mt4 options but anyway it keeps generating more bars than needed. Thanks
Hi daro84,

This feature has been already implemented in to the EA (to some extent). If you look at the input settings of the EA, there exist "Max. Lookback Bars (0 - unlimited)" option. Just set it to some numbers such as 1440 (1 Day of 1 minutes bars).

P.S. I will add an option in the input settings to specify the actual number of Renko bars that would be created initially. I have no plan to implement like-a-ring-buffer functionality for the Renko chart.

/Matt
Trading is the hardest way to make easy money...
  • #622
  • Apr 22, 2020 3:42pm Apr 22, 2020 3:42pm
Version 1.64 released (I updated Post 1). In this version an optional alert (with mobile and email notifications) on New Renko Bar or A Reverse Renko Bar will be triggered.
Trading is the hardest way to make easy money...
  • #623
  • Apr 22, 2020 4:52pm Apr 22, 2020 4:52pm
Quoting MathTrader7
{quote} Hi daro84, This feature has been already implemented in to the EA (to some extent). If you look at the input settings of the EA, there exist "Max. Lookback Bars (0 - unlimited)" option. Just set it to some numbers such as 1440 (1 Day of 1 minutes bars). P.S. I will add an option in the input settings to specify the actual number of Renko bars that would be created initially. I have no plan to implement like-a-ring-buffer functionality for the Renko chart. /Matt
Cool!
Yeah, I already saw the actual Max. Lookup, but it is just to limit the max bars to process on the 1m chart.
Anyway, the second input you will add is the exact feature I´m talking about, I believe that this max. bars to be initially created is fine, no need to control after that!

Thanks for your fast reply.
  • #624
  • Apr 25, 2020 9:11am Apr 25, 2020 9:11am
Hi Everybody,

I would know in MQL4 how to get chart data from an Renko EA, It is possible ? I know iCustom that can allow us to get value of a specific Indicator.

Can we get values of Renko from EA in MQL4 ? Like for example getting the Object data ?

I tried something like this :
double value;
ObjectGetDouble(0, ObjectName(0),OBJPROP_LEVELVALUE,0,value);
*but it always return 0.0

Thank u
  • #625
  • Apr 27, 2020 10:43pm Apr 27, 2020 10:43pm
Quoting MathTrader7
Version 1.64 released (I updated Post 1). In this version an optional alert (with mobile and email notifications) on New Renko Bar or A Reverse Renko Bar will be triggered.
Hi @MathTrader7

Thank you so much for sharing your non gap Renko makers with everyone. I have been back-testing my EAs on these Renko chart, but that the indicator only converts one year's worth of Renko data. Is there a way to have the indicator make 3-4 years of Renko data? Thank you for your help with this.
  • #626
  • Apr 28, 2020 4:55am Apr 28, 2020 4:55am
Quoting nabilbouzeli
Hi Everybody, I would know in MQL4 how to get chart data from an Renko EA, It is possible ? I know iCustom that can allow us to get value of a specific Indicator. Can we get values of Renko from EA in MQL4 ? Like for example getting the Object data ? I tried something like this : double value; ObjectGetDouble(0, ObjectName(0),OBJPROP_LEVELVALUE,0,value); *but it always return 0.0 Thank u
Hello nabilbouzeli, I am not sure I understand your issue. What do you want to know? What bit of code is used to extract key data from each Renko brick?
If so, you could play with these lines :

double open_value;
double high_value;
double low_value;
double close_value;

// Data for the brick in progress (the last one)
open_value=iOpen(NULL,PERIOD_CURRENT,0);
high_value=iHigh(NULL,PERIOD_CURRENT,0);
low_value=iLow(NULL,PERIOD_CURRENT,0);
close_value=iClose(NULL,PERIOD_CURRENT,0);

// Data for the previous brick (see the last parameter is a 1)
open_value=iOpen(NULL,PERIOD_CURRENT,1);
high_value=iHigh(NULL,PERIOD_CURRENT,1);
low_value=iLow(NULL,PERIOD_CURRENT,1);
close_value=iClose(NULL,PERIOD_CURRENT,1);

The last parameter will increase by 1 everytime you go back one brick on your chart.

Did it help?
  • #627
  • May 1, 2020 3:43pm May 1, 2020 3:43pm
Hi guys! I'm really excited to see something like this. I was wondering if someone could explain the difference between rail to rail and non gap renko? I wasn't able to notice the difference (unless I just wasn't looking in the right place) on the images at the start of the thread. Are there any special parameters or anything one should be aware of when trying to make a Renko EA to go with the chart generated by this EA? Thank you!
  • #628
  • May 1, 2020 10:45pm May 1, 2020 10:45pm
Quoting JJosuke
Hi guys! I'm really excited to see something like this. I was wondering if someone could explain the difference between rail to rail and non gap renko? I wasn't able to notice the difference (unless I just wasn't looking in the right place) on the images at the start of the thread. Are there any special parameters or anything one should be aware of when trying to make a Renko EA to go with the chart generated by this EA? Thank you!
First post. Second Picture. Strange question. ;-)

https://www.forexfactory.com/showthread.php?t=535170
  • #629
  • May 4, 2020 5:36pm May 4, 2020 5:36pm
I've started using this now to see how Renko works. However, it only seems to work for me in some odd timeframes. Like 3, 4, and 6. Anything other than this seems to make nothing happen. I even left it open for an hour to see what would happen and there was no progress made. I downloaded the history data as instructed as well. Is there something I'm missing? Or is it not supposed to be able to produce Renko data for these types of timeframes like 15 minute, 30 minute, 1 hour etc? I've made sure to look carefully at the details that MathTrader had mentioned on the first page.
  • #630
  • May 5, 2020 4:29am May 5, 2020 4:29am
Quoting JJosuke
I've started using this now to see how Renko works. However, it only seems to work for me in some odd timeframes. Like 3, 4, and 6. Anything other than this seems to make nothing happen. I even left it open for an hour to see what would happen and there was no progress made. I downloaded the history data as instructed as well. Is there something I'm missing? Or is it not supposed to be able to produce Renko data for these types of timeframes like 15 minute, 30 minute, 1 hour etc? I've made sure to look carefully at the details that MathTrader had...
Hi JJosuke,

If I understand you correctly, you are attaching the EA to a M1 chart? Once you have selected the offline timeframe in the EA set up (M3, M4 etc) and hit <enter> the offline chart should automatically open. Not sure about your reference to M15/M30 charts, these have nothing to do with a Renko chart. The offline timeframe needs to be one that is non standard, usually M3 (I occasionally use M4). You are correct that it works in M3/4/6. I use this EA as my default Renko generator with M3 offline charts and 30 point (3 pip) bricks. Cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #631
  • May 5, 2020 12:58pm May 5, 2020 12:58pm
Quoting Davidh061
{quote} Hi JJosuke, If I understand you correctly, you are attaching the EA to a M1 chart? Once you have selected the offline timeframe in the EA set up (M3, M4 etc) and hit <enter> the offline chart should automatically open. Not sure about your reference to M15/M30 charts, these have nothing to do with a Renko chart. The offline timeframe needs to be one that is non standard, usually M3 (I occasionally use M4). You are correct that it works in M3/4/6. I use this EA as my default Renko generator with M3 offline charts and 30 point (3 pip) bricks....
Hi Dave,

Thanks for that info. I didn't realize that the offline chart has to be something non standard. In the EA settings where it says "timeframe (minutes)" I was putting 15/30/60 wondering why nothing would come up. I did some more reading on Renko and learned that Renko bars are not fixed by time, rather they are dependent on the movement of price. Though, wouldn't a non standard time, like 3H for example work (or 180 minutes in the EA settings)? I would attempt to test this though I am currently avoiding the use of my laptop/pc due to some minor illness since the morning. Hopefully I will get a chance to test it later. I would assume that any non standard time would work as, for example 3H, wouldn't it use hourly data for the closing price or something as Renko uses the chosen time frame to construct the bricks?

Cheers
-JJ
  • #632
  • May 5, 2020 2:16pm May 5, 2020 2:16pm
Quoting JJosuke
{quote} Hi Dave, Thanks for that info. I didn't realize that the offline chart has to be something non standard. In the EA settings where it says "timeframe (minutes)" I was putting 15/30/60 wondering why nothing would come up. I did some more reading on Renko and learned that Renko bars are not fixed by time, rather they are dependent on the movement of price. Though, wouldn't a non standard time, like 3H for example work (or 180 minutes in the EA settings)? I would attempt to test this though I am currently avoiding the use of my laptop/pc due...
Hi JJ,

I think the shortest offline time frame is best. The EA defaults to M3 which is what I use, occasionally M4 if I'm running comparisons of two charts of the same pair with different settings. I am not a technical person, I've used Renko for some time for live trading and tended to follow the instructions because it works! I use MT7's EA as standard, I have used other Renko/range bar indicators on MT4 all have which have defaulted to M3 for the offline chart. I can't say exactly what would happen if you set the offline chart to H3 with say a 3 pip brick, I guess you wouldn't get the resolution required to drive the chart properly, but that is only a guess. Personally I've stuck to the defaults so I could learn to trade with them, rather than experimenting and loosing the plot/will to live

This is what one of my charts looks like, its an M3 offline chart with 30 point (3 pip) bricks, non gap, no wicks. The channel is a Donchian type channel just to help spot certain S&R levels, plus a few lines.

Good luck with it! Cheers, Dave
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD(£)M3 0505.png Size: 62 KB
Everything should be made as simple as possible, but no simpler - Einstein
  • #633
  • May 7, 2020 1:18pm May 7, 2020 1:18pm
Quoting Davidh061
{quote} Hi JJ, I think the shortest offline time frame is best. The EA defaults to M3 which is what I use, occasionally M4 if I'm running comparisons of two charts of the same pair with different settings. I am not a technical person, I've used Renko for some time for live trading and tended to follow the instructions because it works! I use MT7's EA as standard, I have used other Renko/range bar indicators on MT4 all have which have defaulted to M3 for the offline chart. I can't say exactly what would happen if you set the offline chart to H3 with...
Hi Dave,

Thanks for the explanation and the pic, that really helped. I have a much better understanding of how to use this and how Renko works now. I'm personally one of those guys that likes to experiment with the settings to find out what works best for me or anything that seems to be effective. Each to their own I guess!

Cheers
-JJ
  • #634
  • May 8, 2020 2:24am May 8, 2020 2:24am
Quoting JJosuke
{quote} Hi Dave, Thanks for the explanation and the pic, that really helped. I have a much better understanding of how to use this and how Renko works now. I'm personally one of those guys that likes to experiment with the settings to find out what works best for me or anything that seems to be effective. Each to their own I guess! Cheers -JJ
Hi JJ, no problem, good luck with it. Cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #635
  • May 26, 2020 9:18pm May 26, 2020 9:18pm
Hi again guys. Sorry to revive this thread again. I had some questions regarding the backtesting method, as nobody seems to be active on the backtesting thread, I thought I'd ask here which would seem to be a lot more helpful. I was wondering if the testing method had become expired and non-working at the moment as I have tried it, and had others trying it, and while I can load some EAs (random EAs built in that don't actually work) on a Renko chart on the strategy tester, I cannot test any of my own EAs or indicators on the Renko strategy tester, as it ends up displaying normal bars.

Has anyone found another way to backtest EAs and indiactors on Renko?

Thanks!
  • #636
  • Jun 1, 2020 7:33am Jun 1, 2020 7:33am
Version 1.65 released (I updated Post 1). In this version I fixed a bug related to large price gaps. Now the EA is more robust against such large price gaps (it is also called price jumps).
Trading is the hardest way to make easy money...
  • #637
  • Edited 8:02am Jun 1, 2020 7:43am | Edited 8:02am
Real Ticks to Renko HST Convertor Script (For Backtesting Renko)
Version 1.03 released (I updated download section in Post 1). In this version I fixed a bug related to large price gaps. Now the EA is more robust against such large price gaps (it is also called price jumps).
Trading is the hardest way to make easy money...
  • #638
  • Jun 1, 2020 8:52am Jun 1, 2020 8:52am
I am working on a new Renko generator EA which does not fill the gaps in price. Below is a picture showing the first results. This version represents the market price fluctuation even better especially for backtesting Renko EAs using real ticks. I will publish the first version of this EA as soon as the beta version passes the tests.
If you have any suggestions/ideas in this regards, please feel free to let me know.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM3.png Size: 26 KB
Trading is the hardest way to make easy money...
  • #639
  • Jun 1, 2020 9:21am Jun 1, 2020 9:21am
Quoting MathTrader7
I am working on a new Renko generator EA which does not fill the gaps in price. Below is a picture showing the first results. This version represents the market price fluctuation even better especially for backtesting Renko EAs using real ticks. I will publish the first version of this EA as soon as the beta version passes the tests. If you have any suggestions/ideas in this regards, please feel free to let me know. {image}
Nice one Matt! Busy and productive as ever. It will be interesting to compare it with the no gap EA. I hope all is well with you, cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #640
  • Jun 5, 2020 4:11am Jun 5, 2020 4:11am
Here is an illustration of what non-gap and rail-to-rail Renko means,
Attached Image
Trading is the hardest way to make easy money...
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