Since I met renko charts I have been impressed and fascinated by studying them I have managed to find some profitable strategies. Recently I am approaching the world of expert advisors and automatic trading, therefore I immediately wanted to try automatic strategies based on renko charts. Reading various threads on the subject here I came across this guide (https://www.forexfactory.com/showthread.php?t=572375) where I learned how to perform backtests with renko. The thing that left me amazed was the exceptional results of the backtests. So good as to make me suspicious of the validity of these tests. Here is an example to talk with some data.
This is a very simple expert who opens buy positions when two bullish renko candles are formed and closes it when a bearish candle is formed, vice versa for the sell.
Everything is too perfect to be true. I'm pretty sure that because I'm a noob in backtesting ea these results could be distorted by some mistakes of mine. I used dukaskopy data that I downloaded from quantum data manager, I followed this guide for renko backtesting (https://www.forexfactory.com/showthread.php?t=572375) and these are the backtest settings. I'll link the ea I've used here below.
Or maybe the problem lies in the backtests of the renko charts themselves?
Please let me know what do you think
This is a very simple expert who opens buy positions when two bullish renko candles are formed and closes it when a bearish candle is formed, vice versa for the sell.
Everything is too perfect to be true. I'm pretty sure that because I'm a noob in backtesting ea these results could be distorted by some mistakes of mine. I used dukaskopy data that I downloaded from quantum data manager, I followed this guide for renko backtesting (https://www.forexfactory.com/showthread.php?t=572375) and these are the backtest settings. I'll link the ea I've used here below.
Or maybe the problem lies in the backtests of the renko charts themselves?
Please let me know what do you think
Attached File(s)
Renko EA.ex4
166 KB
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282 downloads