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Renko Trading Discussion

  • #1,461
  • Aug 31, 2020 2:01pm Aug 31, 2020 2:01pm
Hi everyone! New to this thread, been obsessed with renko recently so thought I'd surround myself with some renko traders and learn more about it. Been trading a couple years but always price action on cadlesticks. I have been testing a simple MA cross renko strategy and found it works well on DAX. I'll post what I'm testing here in case anyone finds it helpful, since I'm sure I'll be learning a lot from this thread. Got main template from Hutch.

I went with 30 pip bricks. Super simple, basically just a 10 EMA with a 20 SMMA, sell when EMA crosses the 20 and buy when opposite. There are arrows to show and alert this cross as well. Exit strategy was annoying me so I decided to go with profit based exits. Noticed its rare for the chart to not go at least another brick after an alert, so decided a low RR could still work. I like to get in with a big lot and get out so this works for me. Please anyone let me know any input or if there are better settings. My main concern is having a bad RR meaning one loss would hurt, but it seems like a very high win rate especially when I'm risk free after just 30 or so pips.

Excited to start sharing ideas.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 144 KB
  • #1,462
  • Sep 22, 2020 1:24am Sep 22, 2020 1:24am
Quoting Thebulldawg
Hi everyone! New to this thread, been obsessed with renko recently so thought I'd surround myself with some renko traders and learn more about it. Been trading a couple years but always price action on cadlesticks. I have been testing a simple MA cross renko strategy and found it works well on DAX. I'll post what I'm testing here in case anyone finds it helpful, since I'm sure I'll be learning a lot from this thread. Got main template from Hutch. I went with 30 pip bricks. Super simple, basically just a 10 EMA with a 20 SMMA, sell when EMA crosses...
Please share with us your files/template!

thank you
  • #1,463
  • Sep 23, 2020 4:21am Sep 23, 2020 4:21am
I don't think you need a template, its in the post, dead simple- 30 pip bricks, 2 x MAs.
  • #1,464
  • Sep 23, 2020 9:32am Sep 23, 2020 9:32am
Quoting MathTrader7
And this my research on how to train a machine learning (ML) model to trade on Renko charts. The result is too good to be true But this is part of my ongoing research on using ML to trade Renko charts which I wanted to share with you. {image}

It looks very nice. Congratulations!
  • #1,465
  • Sep 23, 2020 10:09am Sep 23, 2020 10:09am
Quoting Thebulldawg
Hi everyone! New to this thread, been obsessed with renko recently so thought I'd surround myself with some renko traders and learn more about it. Been trading a couple years but always price action on cadlesticks. I have been testing a simple MA cross renko strategy and found it works well on DAX. I'll post what I'm testing here in case anyone finds it helpful, since I'm sure I'll be learning a lot from this thread. Got main template from Hutch. I went with 30 pip bricks. Super simple, basically just a 10 EMA with a 20 SMMA, sell when EMA crosses...
Hi Bulldawg,
Love what you've done here, as a DAX trader myself , I can confirm its perfect for Renko. Super simple is just how I like it too. Good luck with your research.
  • #1,466
  • Sep 23, 2020 10:12am Sep 23, 2020 10:12am
Quoting MathTrader7
And this my research on how to train a machine learning (ML) model to trade on Renko charts. The result is too good to be true But this is part of my ongoing research on using ML to trade Renko charts which I wanted to share with you. {image}
Im continually impressed with your research . outstanding contribution to this Renko group. Thank you .
  • #1,467
  • Sep 24, 2020 6:50am Sep 24, 2020 6:50am
Quoting MathTrader7
{quote} Sure! I will select a few serious people to test the EA on different assets (Forex, Metals, Stocks, etc.)
PLEASE Keep me in mind Math. Thanks!
  • #1,468
  • Sep 27, 2020 2:45pm Sep 27, 2020 2:45pm
[quote=JBRolim;13125849]{quote} Hey friend, [quote=PipsTorrent; Is this testing forward (in a demo account) or back? - It is not a test. - It is running on the live account, see in the upper left corner of the screen, My ICM Live 10 corridor. If that was not your question, I apologize for my answer here, as this is not my native language. The chart looks too perfect, thus the question. - Yes, I've heard it before Here below is the image of my EUR / USD live chart Green Pips {image}[/quote]
Hello John,
Just noticed your Renko chart and wonder how perfect it is. Simple yet effective results.
Would you mind sharing the indicators you used on the chart other than RENKO.

I am great fan of Renko and would like to have the additonal indicators your used.

Have a great week ahead,
Regards,
Raja
  • #1,469
  • Sep 28, 2020 11:19am Sep 28, 2020 11:19am
Quoting Davidh061
{quote} Hi Will, I have traded a range of instruments in the past but not metals! I do like trading GER30 because of its volatility, it can be a bit wild at times, but it usually delivers two or three opportunities a day that I can trade and generally it seems to work well with Renko charts. Some instruments don't work so well and require a different style of trading. I did have a look at gold a while ago, but didn't do anything with it, I will take another look in my demo account. I agree that using an indicator can help explain what the market...
Ive got to agree again with you Dave .

This is the beauty of the DAX . If I was just soley interested in a waterfall of pips I would trade "crazy horse" aka Dow Jones. But its also the fastest way to blow your account . The metals/oils are great but have awful spreads and can be very jittery . But DAX (and my solid second Nasdaq) have it all rolled into one , a good balance of movement & volatility coupled with stability and tight spreads. Its also quite a technical mover unlike the FTSE which can be all over the place like a party with free booze.

Dax moved about 100 pips this morning on its open (8am GMT) , cant say it doesn't move.
  • #1,470
  • Sep 28, 2020 12:08pm Sep 28, 2020 12:08pm
Quoting Bbqribs
{quote} Ive got to agree again with you Dave . This is the beauty of the DAX . If I was just soley interested in a waterfall of pips I would trade "crazy horse" aka Dow Jones. But its also the fastest way to blow your account . The metals/oils are great but have awful spreads and can be very jittery . But DAX (and my solid second Nasdaq) have it all rolled into one , a good balance of movement & volatility coupled with stability and tight spreads. Its also quite a technical mover unlike the FTSE which can be all over the place like a party with...
Yes DAX is king. There is definitely something there when paired with renko. With my system im really only trying to trade a few hours a day. Maybe an hour after open so it calms down, take a few trades to net 10-20 pips a day with a tight SL on each trade, and call it. If that is possible to be consistent at then you have yourself a very powerful, stress-free trading plan
  • #1,471
  • Sep 29, 2020 1:05am Sep 29, 2020 1:05am
Quoting Bbqribs
{quote} Ive got to agree again with you Dave . This is the beauty of the DAX . If I was just soley interested in a waterfall of pips I would trade "crazy horse" aka Dow Jones. But its also the fastest way to blow your account . The metals/oils are great but have awful spreads and can be very jittery . But DAX (and my solid second Nasdaq) have it all rolled into one , a good balance of movement & volatility coupled with stability and tight spreads. Its also quite a technical mover unlike the FTSE which can be all over the place like a party with...
Hi Bbqribs, I couldn't agree more! I'm taking 20-40 pips per trade consistently each day from the DAX, all the reasons that you mentioned are factors that make it attractive. I used to hang out for larger trades and end up getting stopped out at BE, so now I just set my TP at a much lower level, depending on what the market looks like and they deliver I'm spending more time trading MT7's EA set at 10 pips per brick, so with only 2-4 bricks to show for each trade its not worth posting the chart because its not vey interesting....I did read somewhere that successful trading is boring Cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #1,472
  • Oct 1, 2020 8:30am Oct 1, 2020 8:30am
Quoting Bbqribs
{quote} Ive got to agree again with you Dave . This is the beauty of the DAX . If I was just soley interested in a waterfall of pips I would trade "crazy horse" aka Dow Jones. But its also the fastest way to blow your account . The metals/oils are great but have awful spreads and can be very jittery . But DAX (and my solid second Nasdaq) have it all rolled into one , a good balance of movement & volatility coupled with stability and tight spreads. Its also quite a technical mover unlike the FTSE which can be all over the place like a party with...
what is your renko pip size on dax and ftse?
  • #1,473
  • Oct 1, 2020 8:43am Oct 1, 2020 8:43am
Cant speak for Ftse but for Dax & Nasdaq its 5 pips .

After speaking with Dave & Bulldawg, Im experimenting with 10 too , seeing if it fits my style.
  • #1,474
  • Oct 1, 2020 9:12am Oct 1, 2020 9:12am
Quoting Bbqribs
Cant speak for Ftse but for Dax & Nasdaq its 5 pips . After speaking with Dave & Bulldawg, Im experimenting with 10 too , seeing if it fits my style.
thanks man
  • #1,475
  • Oct 4, 2020 5:36pm Oct 4, 2020 5:36pm
[quote=meborn2win;13186427]
Quoting JBRolim
{quote} Hey friend, {quote} Hello John, Just noticed your Renko chart and wonder how perfect it is. Simple yet effective results. Would you mind sharing the indicators you used on the chart other than RENKO. I am great fan of Renko and would like to have the additonal indicators your used. Have a great week ahead, Regards, Raja
Hi friend meborn2win

What indicator do you refer to?
Tell me so I can help you!
"No pain no gain"
  • #1,476
  • Oct 4, 2020 9:28pm Oct 4, 2020 9:28pm
[quote=JBRolim;13197733]
Quoting meborn2win
{quote} Hi friend meborn2win What indicator do you refer to? Tell me so I can help you!
Hi John,
Indicatores for the one you posted in Posted in 1443.
Thanks,
Raja
  • #1,477
  • Oct 4, 2020 11:09pm Oct 4, 2020 11:09pm
[quote=meborn2win;13197867]
Quoting JBRolim
{quote} Hi John, Indicatores for the one you posted in Posted in 1443. Thanks, Raja
Here it is,,,
Attached File(s)
File Type: ex4 MACD_OsMA_4ColorH_2LVar_mtf alerts v1 nmc.ex4   32 KB | 536 downloads
Attached File(s)
File Type: ex4 hamaft3anewualert.ex4   25 KB | 493 downloads
Attached File(s)
File Type: ex4 HMA Color nrp.ex4   6 KB | 442 downloads


Open the graph of Renko,

Insert the indicators and update with the parameters of your choice.
"No pain no gain"
  • #1,478
  • Oct 4, 2020 11:34pm Oct 4, 2020 11:34pm
[quote=JBRolim;13197965]
Quoting meborn2win
{quote} Here it is,,,{file}{file}{file} Open the graph of Renko, Insert the indicators and update with the parameters of your choice.
Thank you John.
Happy trading week.
Regards,
Raja
  • #1,479
  • Oct 5, 2020 2:01pm Oct 5, 2020 2:01pm
Quoting mchl13
Hello Liovannix, I installed the "eliott+fibo" indicator on cfddax ut5 and I have this wave numbering that seems abnormal to me. your opinion {image}
Fractal there?
  • #1,480
  • Oct 5, 2020 2:10pm Oct 5, 2020 2:10pm
[quote=JBRolim;13197965]
Quoting meborn2win
{quote} Here it is,,,{file}{file}{file} Open the graph of Renko, Insert the indicators and update with the parameters of your choice.
HI could you please show your params on MACD indicator? Thanks
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