Non-gap Renko Chart Creator EA | Page 35 | Forex Factory

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Non-gap Renko Chart Creator EA

  • #681
  • Jun 27, 2020 12:12pm Jun 27, 2020 12:12pm
Quoting MathTrader7
{quote} Hi, It means that there is a problem with your Windows operating system setup. Are you running MT4 on a Windows or Mac OS?
Thanks for the fast response! It's windows 10. In fact everything seems to be working well, so I don't know what the error can be
  • #682
  • Jul 28, 2020 5:10pm Jul 28, 2020 5:10pm
Hi Math. Just had a question about an issue I'm having using this with an EA and thought I would try to get some guidance on behalf of the developer who's working on the EA for me. The EA I have opens positions on indicator generated signals, and is used for trading normal candlesticks, however when I try to use it on Renkos, specifically your builder (which is my favourite), when a signal is generated it opens about 19 positions. The developer gave me his own Renko builder, and when I tested it on a live market, I noticed it skipped a lot of signals and would often lag the MT4 platform, whereas yours would not. My PC is more than capable of providing the single threaded capability that MT4 utilises, so I wouldn't blame it on the system, as well as the observation that your builder doesn't lag with 19 positions open whereas 1 position with the other builder causes significant lagging.

If you could shed some light/advice on using EAs that use indicator signals to open positions on your Renko builder and if there is anything specific to be taken into account I would greatly appreciate it Thanks!
  • #683
  • Jul 28, 2020 9:33pm Jul 28, 2020 9:33pm
Quoting JJosuke
Hi Math. Just had a question about an issue I'm having using this with an EA and thought I would try to get some guidance on behalf of the developer who's working on the EA for me. The EA I have opens positions on indicator generated signals, and is used for trading normal candlesticks, however when I try to use it on Renkos, specifically your builder (which is my favourite), when a signal is generated it opens about 19 positions. The developer gave me his own Renko builder, and when I tested it on a live market, I noticed it skipped a lot of signals...
2cents advice. The developer could lock the ea to maximum positions that can be opened to 1`.
  • #684
  • Jul 29, 2020 1:04am Jul 29, 2020 1:04am
Quoting Liovannix
{quote} 2cents advice. The developer could lock the ea to maximum positions that can be opened to 1`.
The issue with this is, that more positions are added as the trend goes on through the indicator signals. I can't really just set the max open orders to 1 or it'd kinda defeat the purpose of the EA I have them working on. They had recommended the max open orders to 1 idea already but I mentioned the same thing, that it would just nullify the point of the indicator used with the EA
  • #685
  • Edited 11:58am Jul 29, 2020 3:50am | Edited 11:58am
Quoting JJosuke
Hi Math. Just had a question about an issue I'm having using this with an EA and thought I would try to get some guidance on behalf of the developer who's working on the EA for me. The EA I have opens positions on indicator generated signals, and is used for trading normal candlesticks, however when I try to use it on Renkos, specifically your builder (which is my favourite), when a signal is generated it opens about 19 positions. The developer gave me his own Renko builder, and when I tested it on a live market, I noticed it skipped a lot of signals...
Hi JJosuke,

In my opinion, the issue you are referring to is due to the way your programmer/developer determines the open of new Renko bars. The trading EAs written to trade on regular time-based charts (such as M30, H1, etc.) often fail to work properly on non-time-based charts (such as Renko charts) due to failure in detection of the open of a new Renko bar. As you mentioned, the EA also fails to take some signals even when it is used on the Renko builder that your developer sent you. The reason is the way of detecting a new bar in the EA's code. I cannot do much for your EA but just as a hint one way of correctly detecting the open of a new Renko bar (for my Renko builder) is to check the Renko bar open time tick by tick and if the time changes then it implies that at least one new Renko bar has been opened.

Hope this helps you!
Matt
Trading is the hardest way to make easy money...
  • #686
  • Jul 29, 2020 5:36am Jul 29, 2020 5:36am
Quoting MathTrader7
{quote}Hope this helps you! Matt
Hi Matt!

Thanks so much for your advice and such a quick reply. I didn't expect one so quickly . Anyways, I've forwarded it to my developer with the idea of something to check every tick for a change in the open price since it would mean a new bar has been created, and what I'm assuming the logic to follow would be if the previous bar closed with a signal, then to execute a trade in the given direction (depending on the trend). I'm not sure if that's the correct/most efficient way to describe the logic but I would guess in MQL4 it would be something like that.

Should I have any more issues would it be more appropriate to send you a private message?

Many thanks!,

-JJ
  • #687
  • Jul 29, 2020 7:32pm Jul 29, 2020 7:32pm
Hi again Matt.

I forwarded your advice to my developer and he said he was already aware of that but upon checking it was not the issue. If it isn't too much to ask if you are not busy would you mind taking a look at it? Just so I can get some clarification from the person who actually made the Renko builder. Unless there are any other issues that we should be aware of when making an EA to work with this builder?
  • #688
  • Jul 30, 2020 6:51am Jul 30, 2020 6:51am
Quoting JJosuke
Hi again Matt. I forwarded your advice to my developer and he said he was already aware of that but upon checking it was not the issue. If it isn't too much to ask if you are not busy would you mind taking a look at it? Just so I can get some clarification from the person who actually made the Renko builder. Unless there are any other issues that we should be aware of when making an EA to work with this builder?
Hi, you can send me a PM in this regard.
Trading is the hardest way to make easy money...
  • #690
  • Aug 10, 2020 6:04pm Aug 10, 2020 6:04pm
Quoting MathTrader7
{quote} Yes! You can run it on one chart (for example, EURUSD, M1) and set more than one symbol in the input settings. The EA creates live Renko charts for all the symbols that the user has set in the input settings.
I read on the forum many briefly recommend creating offline chart from a chart noy in M1 but higher TF, as frequently more accurate, can s.o. comment on that
  • #691
  • Aug 10, 2020 6:35pm Aug 10, 2020 6:35pm
Quoting ntk
{quote} I read on the forum many briefly recommend creating offline chart from a chart noy in M1 but higher TF, as frequently more accurate, can s.o. comment on that
Actually, M1 is the lowest TF available on our platforms. I know that some other platforms propose tick charts (either one single tick or a few ticks) which is obviously more accurate. So even M1 is less accurate than Renko converted from a 1 tick chart. You may consider that the computer works out your renko chart output by converting every candlestick of your TF... If TF is D1, you will have bigger moves but you won't see all the details of it compared to what you would have in M1. Please also note that this level of details won't be that much necessary if for example instead of 2 pips or 5pips bricks you would use a 25, 50 or 100 pips brick Renko chart... In such a case, you could even work from M30 to D1 TF. Please also be careful of the gaps between candlesticks especially between the closure of the markets Friday evening and the opening of the market Sunday evening in European/American session (monday morning in New Zealand/earlier Asian session).

Shorter with this picture, all the month of august 2020 so far in Renko 5 pips for EURUSD:
Attached Image (click to enlarge)
Click to Enlarge Name: Comparison output Renko from TF M1 and Daily.png Size: 83 KB
  • #692
  • Aug 10, 2020 7:07pm Aug 10, 2020 7:07pm
May it be of use to someone here an indicator I've just made to display the brick size of your Renko charts... If you change your renko size settings on your renko generator, the offline chart will anyway display you the new size. I leave you the .mq4 file in order for you to operate changes in the position of the label, the color, the way it is displayed... Anything you like. For the record, I've taken into account the fact that you can use a regular Renko chart generator as well as a Non gap (such as MT7's one), or even median ones. Well actually some Renko chart generators propose a reversal of more than 2 brick size which I didn't include in my little indicator.

Always useful to easily spot the size of your bricks.
Attached File(s)
File Type: ex4 Renko_Brick_Size.ex4   12 KB | 456 downloads
File Type: mq4 Renko_Brick_Size.mq4   7 KB | 679 downloads
  • #693
  • Aug 10, 2020 10:00pm Aug 10, 2020 10:00pm
Quoting FXgenial
{quote} Actually, M1 is the lowest TF available on our platforms. I know that some other platforms propose tick charts (either one single tick or a few ticks) which is obviously more accurate. So even M1 is less accurate than Renko converted from a 1 tick chart. You may consider that the computer works out your renko chart output by converting every candlestick of your TF... If TF is D1, you will have bigger moves but you won't see all the details of it compared to what you would have in M1. Please also note that this level of details won't be that...
Thank you
So still stay on the principle in order to get every ticks to generate the offline chart in details, it is necessary to generate base on M1 chart, then one could use larger brick size to filter out whipsaw/false alert.
  • #694
  • Aug 11, 2020 12:01am Aug 11, 2020 12:01am
Quoting FXgenial
{quote} Actually, M1 is the lowest TF available on our platforms. I know that some other platforms propose tick charts (either one single tick or a few ticks) which is obviously more accurate. So even M1 is less accurate than Renko converted from a 1 tick chart. You may consider that the computer works out your renko chart output by converting every candlestick of your TF... If TF is D1, you will have bigger moves but you won't see all the details of it compared to what you would have in M1. Please also note that this level of details won't be that...
Which renko generator do you use in the second picture (From TF Daily)?

Thanks.
  • #697
  • Aug 12, 2020 12:37am Aug 12, 2020 12:37am
Quoting FXgenial
{quote} M1 is highly recommended for Renko brick sizes up to 5 pips in major currency pairs... Above 10 pips, you can already think that working at M15 and M30 may not make you lose much details (except in very volatile markets). {quote} I usually use a Gap renko generator (from the website of this link) which makes a good work on my build 1280 of MT4 platform and that I can customise a bit to allow me to work on backtests. I attach the files here. Please keep in mind that a regular renko chart is...
Please see the thread rules in Post 1.
Trading is the hardest way to make easy money...
  • #698
  • Aug 12, 2020 12:39am Aug 12, 2020 12:39am
Quoting ntk
{quote} Thank you, So in short: M1 is highly recommended for Renko brick sizes up to 5 pips| Above 10 pips, you can already think that working at M15 and M30 may not make you lose much details (except in very volatile markets) and the brisk size area above 5 to 10, normal condition? I guess if it is volatile we would need more details on chart so should decide for M1 as base chart. But logically in a volatile market you should seek for a clear trend, not all the tiny trading opportunities (fake signals) so I would tend to decide for a higher TF...
Please see the thread rules in Post 1.
Trading is the hardest way to make easy money...
  • #699
  • Aug 13, 2020 12:40pm Aug 13, 2020 12:40pm
@Hi Math trader7,

I am new to this forum and i have to say that i am really impressed with your work and skills.After reading so many posts about you ,there is no doubt that everybody here, really appreciate your work and generosity you show towards helping other traders totally commendable.I learn so much from your previous posts and other people's posts and i am truly grateful for this to you and the over all community of this forum.

I was trying few of EA's from your Renko trading Discussion thread,but none of that EA's working with my MT4 at the moment.Most of the errors showing "asking me to download a non gap renko builder" which of course i am using the latest version 1.67 of "MathTrader7_RenkoChartCreatorEA' which is working fine,the only problem i am facing when i attach EA to the offline chart..IS IT BECAUSE OF MY MT4 BUILDER NEW VERSION 1280 OR SOMETHING ELSE? because i already tried almost everything to fix this problem with even using previous versions of your MathTrader7_RenkoChartCreatorEA,But still does not solve the problem.below are the screenshots.
I know you working on some different projects at the moment,but if you find time to answer my queries,it will be really helpful to me and i will be really grateful for your kind gesture.THANKS.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot (33).png Size: 135 KB
Click to Enlarge Name: Screenshot (34).png Size: 153 KB
Click to Enlarge Name: Screenshot (35).png Size: 143 KB
Click to Enlarge Name: Screenshot (36).png Size: 144 KB
Click to Enlarge Name: Screenshot (37).png Size: 155 KB
  • #700
  • Edited 9:42am Aug 24, 2020 7:10am | Edited 9:42am
Quoting FXgenial
{quote} M1 is highly recommended for Renko brick sizes up to 5 pips in major currency pairs... Above 10 pips, you can already think that working at M15 and M30 may not make you lose much details (except in very volatile markets). {quote} I usually use a Gap renko generator (from the website of this link) which makes a good work on my build 1280 of MT4 platform and that I can customise a bit to allow me to work on backtests. I attach the files here. Please keep in mind that a regular renko chart is...
Hi FXgenial, i downloaded your suggestion for RENKO CHARTS at the weekend and it looked perfect for what i'm after, i'm not new to trading but new to renko. I have a problem though, at the weekend when the markets were closed everything looked perfect, but when the markets opened it froze my MT4 platform and i ended up having to go into hidden files and delete the indicator, as soon as i did MT4 started to instantly work again!, not sure if i'm doing it wrong or if i missed a step somewhere that i should be doing as well to make it work, your help or suggestions would be much appreciated, it's typical, i finally find something i've been searching for ages and now i can't have it!. I know it's something i'm doing wrong, but i just don't know what!, cheers and the best mate.........Anthony.

P:S - NO WORRIES ALL SORTED, CHEERS.
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