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Non-gap Renko Chart Creator EA

  • #701
  • Sep 3, 2020 6:24am Sep 3, 2020 6:24am
Hi Matt!

I was wondering if you knew of a solution for using the non-gap renko generator for longer term trading. I, out of curiosity tried that indicator that FXGenial posted which was disliked since it's not relevant, and while running it on a demo on my VPS I noticed that what appeared on that chart was entirely different to what appears on a chart when you load the indicator fresh. It's almost misleading in fact. So I was wondering if your non gap renko generator was able to generate renkos for longer time periods, as well as higher pip bricks.

What I mean by this is, I've tried to make 100 pip bricks for some pairs which are quite volatile, as well as normal pairs, and nothing loads, but when I use a tiny amount like 5 or the default 3, the EA will load it almost instantly.

Is there something wrong I'm doing? Thanks!
  • #702
  • Sep 3, 2020 6:30am Sep 3, 2020 6:30am
Quoting JJosuke
Hi Matt! I was wondering if you knew of a solution for using the non-gap renko generator for longer term trading. I, out of curiosity tried that indicator that FXGenial posted which was disliked since it's not relevant, and while running it on a demo on my VPS I noticed that what appeared on that chart was entirely different to what appears on a chart when you load the indicator fresh. It's almost misleading in fact. So I was wondering if your non gap renko generator was able to generate renkos for longer time periods, as well as higher pip bricks....
Hi, you can download history M1 data of the symbol(s) of interest, and
1. set the brick size in points (like 100, 200, 500, etc.), and
2. set look back to zero (to make the EA use the whole available M1 history data)
in the input settings of the non-gap Renko creator EA.

If you see some strange Renko chart created by the EA, please take a screenshot and post it here.

Edit: Default 3 is not for the Renko brick size, it is for the Offline Renko Chart timeframe which has to be selected any number other than standard timeframes=1, 5, 15, 30, 60, etc.

/Matt
Trading is the hardest way to make easy money...
  • #703
  • Sep 3, 2020 1:02pm Sep 3, 2020 1:02pm
Quoting MathTrader7
{quote} Hi, you can download history M1 data of the symbol(s) of interest, and 1. set the brick size in points (like 100, 200, 500, etc.), and 2. set look back to zero (to make the EA use the whole available M1 history data) in the input settings of the non-gap Renko creator EA. If you see some strange Renko chart created by the EA, please take a screenshot and post it here. Edit: Default 3 is not for the Renko brick size, it is for the Offline Renko Chart timeframe which has to be selected any number other than standard timeframes=1, 5, 15, 30,...
Hi Matt.

Thanks for that. Yeah sorry about the 3 minutes thing, I got mixed up between the chart timeframe and the default renko pip size. Just out of curiosity, how come the indicator that FXGenial sent and your builder produces two entirely different charts? I've also noticed when you refresh, or reload the chart with his indicator, it completely changes the chart to look almost perfect, which is pretty worrysome. I noticed this myself when I tried using my EA on it.

Using your EA has made me realise what the actual market conditions are like using Renko, so I'd like to ask, do you have any tips or hints in reducing noise, or finding the right brick size for a pair?
  • #704
  • Sep 4, 2020 2:00am Sep 4, 2020 2:00am
Quoting JJosuke
{quote} Hi Matt. Thanks for that. Yeah sorry about the 3 minutes thing, I got mixed up between the chart timeframe and the default renko pip size. Just out of curiosity, how come the indicator that FXGenial sent and your builder produces two entirely different charts? I've also noticed when you refresh, or reload the chart with his indicator, it completely changes the chart to look almost perfect, which is pretty worrysome. I noticed this myself when I tried using my EA on it. Using your EA has made me realise what the actual market conditions are...
Hi JJ, I think there is an upside to Renko showing all the noise in the market, in that the "clean" fast moving parts of the market are easier to identify with minimal or no additional wiggly lines. I've been scalping 10-20 pips per trade more of late and finding low noise areas is key, particulalrly on the DAX which can whip around. For me being able to see the noise is important. Cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #705
  • Sep 4, 2020 4:00am Sep 4, 2020 4:00am
Quoting JJosuke
{quote} Hi Matt. Thanks for that. Yeah sorry about the 3 minutes thing, I got mixed up between the chart timeframe and the default renko pip size. Just out of curiosity, how come the indicator that FXGenial sent and your builder produces two entirely different charts? I've also noticed when you refresh, or reload the chart with his indicator, it completely changes the chart to look almost perfect, which is pretty worrysome. I noticed this myself when I tried using my EA on it. Using your EA has made me realise what the actual market conditions are...
Hi,

1. Any Renko builder that uses the candle/bar information of the chart timeframe that it is attached to, will repaint dramatically when you refresh it. Higher the timeframe, less accurate reconstruction of the past due to lower resolution of the information that is available. That's one reason why I have written my own Renko builder that only uses M1 history data which is the highest available resolution (in MetaTrader4 platform) from which one can reconstruct the Renko bars.

2. There is no way to eliminate noise in the market completely that I am aware of! And Renko charts are just one way of reducing the noise to some extent. However, if you set the Renko brick size to larger values (for example, 1000 points for EURUSD), you will see significantly less noise in the market, and the historical trends become more clear visually. On the other hand, trading Renko charts with very large bar sizes might be suitable for long-term traders (or better to say investors than traders!).

/Matt
Trading is the hardest way to make easy money...
  • #706
  • Sep 18, 2020 1:47am Sep 18, 2020 1:47am
MathTrader7 ty man for sharing <3 God Bless you
  • #707
  • Oct 1, 2020 1:16pm Oct 1, 2020 1:16pm
Hello, i like the indicator finally one what is showing real candles.
But i got a problem...
The candles are not updating... Its moving always just one candle up and down for hours... i have to always reopen chart to see new candles what was made...
So i cant use the indicator for trading when the candles are not moving is there a solution?
  • #708
  • Edited Oct 2, 2020 2:08am Oct 1, 2020 4:57pm | Edited Oct 2, 2020 2:08am
Quoting Goodik
Hello, i like the indicator finally one what is showing real candles. But i got a problem... The candles are not updating... Its moving always just one candle up and down for hours... i have to always reopen chart to see new candles what was made... So i cant use the indicator for trading when the candles are not moving is there a solution?
Hi,

1. Please note that this is an (non-trading) EA not an indicator!
2. Take a screenshot of the input settings,
3. Take a screenshot of the Renko chart,
4. Post the screenshots here
Trading is the hardest way to make easy money...
  • #709
  • Oct 1, 2020 5:01pm Oct 1, 2020 5:01pm
Hello Mathtrader and Thanks for the great work. My question is that suppose we set 10 pip renko and create the hst for backtesting with you script. My question is that suppose I have an ea with TP of 15 Pips, when we run the backtest as you know we will see the full bricks only and not the actual price action. I mean suppose the price goes 17 pips in profit but didn't hit 20 pips to form a new bar (we hit our 15 pips TP in real price action) but in the backtest since we can only see the completed bars, the performance is different from real price action, is there any way we can fix that so we can have a more accurate backtest. Thanks.
  • #710
  • Oct 2, 2020 1:34am Oct 2, 2020 1:34am
Quoting ali1362
Hello Mathtrader and Thanks for the great work. My question is that suppose we set 10 pip renko and create the hst for backtesting with you script. My question is that suppose I have an ea with TP of 15 Pips, when we run the backtest as you know we will see the full bricks only and not the actual price action. I mean suppose the price goes 17 pips in profit but didn't hit 20 pips to form a new bar (we hit our 15 pips TP in real price action) but in the backtest since we can only see the completed bars, the performance is different from real price...
Hi, the TP shall be an integer multiplication of the Renko brick size. In your example, set the Renko size to 5 pip (50 points).
Trading is the hardest way to make easy money...
  • #711
  • Oct 2, 2020 8:24am Oct 2, 2020 8:24am
Quoting MathTrader7
{quote} Hi, 1. Please note that this is an (non-trading) EA not an indicator! 2. Take a screenshot of the input settings, 3. Take a screenshot of the Renko chart, 4. Post the screenshots here
Hi Math,
im sending the screenshots im using just the basic without any changes...
Like i said befor the candle on renko chart is moving up and down without making a new candles.
Only when i close my mt4 and open again the candles will appear.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: the input settings.JPG Size: 295 KB
Click to Enlarge Name: Renko chart.JPG Size: 109 KB
  • #714
  • Oct 3, 2020 2:13am Oct 3, 2020 2:13am
hello mathtrader thanks for your great renko ea
i see people talking about renko ea higher version 2.95 where can i download it from , thanks in advance
Attached Image
  • #715
  • Oct 3, 2020 7:25am Oct 3, 2020 7:25am
Quoting XV3N0M
hello mathtrader thanks for your great renko ea i see people talking about renko ea higher version 2.95 where can i download it from , thanks in advance {image}
The latest version is 1.67. I guess you are looking for a Renko trading EA. You might find it in below thread,

https://www.forexfactory.com/thread/...ing-discussion
Trading is the hardest way to make easy money...
  • #716
  • Oct 6, 2020 12:48pm Oct 6, 2020 12:48pm
I have tried and tried to use this and most other Renko charts but they are so resource hungry.
I even tried multiple mt4's for the same broker.
After a while everything starts to freeze and become hopeless for trading.
I guess it doesnt help that this PC only has 16Gb RAM.
Will I fare better with more RAM. ??
Is there a secret to running 20 Renko windows ??
  • #717
  • Oct 6, 2020 2:41pm Oct 6, 2020 2:41pm
Quoting sj9bp20
I have tried and tried to use this and most other Renko charts but they are so resource hungry. I even tried multiple mt4's for the same broker. After a while everything starts to freeze and become hopeless for trading. I guess it doesnt help that this PC only has 16Gb RAM. Will I fare better with more RAM. ?? Is there a secret to running 20 Renko windows ??
hi SJ, so does that mean you've got 20 offline Renko charts and 20 1M charts to drive them? Cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #718
  • Oct 6, 2020 3:08pm Oct 6, 2020 3:08pm
Quoting Davidh061
{quote} hi SJ, so does that mean you've got 20 offline Renko charts and 20 1M charts to drive them? Cheers, Dave
Yes. But spread over 4no. MT4 platforms, so just 5 charts (or 5 pairs) per platform.
  • #719
  • Oct 7, 2020 2:07am Oct 7, 2020 2:07am
Quoting sj9bp20
{quote} Yes. But spread over 4no. MT4 platforms, so just 5 charts (or 5 pairs) per platform.
I've never run that many instances of MT4 so I can't really comment. I trade on quite an old pc with 4GB RAM, (Windows 10) which is working fine but quite puny comapred with your 16GB! I sometimes run my live account and a demo account together probably with 10 charts between them and don't have any problems. I have noticed that MT7's EA is easier to run than some Renko/rangebar indis I have used in the past which have caused problems with lots of charts, also some indicators I have used in the past have killed the pc performance, but they have long gone. I'm sorry I can't fix your problem, I was just making a comparison of what I run on a fairly low powered pc, it was considered high spec when I bought it
Everything should be made as simple as possible, but no simpler - Einstein
  • #720
  • Oct 7, 2020 3:09am Oct 7, 2020 3:09am
Quoting Davidh061
{quote} I've never run that many instances of MT4 so I can't really comment. I trade on quite an old pc with 4GB RAM, (Windows 10) which is working fine but quite puny comapred with your 16GB! I sometimes run my live account and a demo account together probably with 10 charts between them and don't have any problems. I have noticed that MT7's EA is easier to run than some Renko/rangebar indis I have used in the past which have caused problems with lots of charts, also some indicators I have used in the past have killed the pc performance, but they...

This PC has 64GB RAM but the motherboard is stuffed. Only 2 RAM slots are working hence the 16GB.
I had a new PC, again with 64GB but that was unstable and has been returned to the maufacturer.
Its all a bit frustrating !!
Thanks for the comparisson though. I did discover that 2 instances of MT4 was the limit for this machine with a max of 5 Renko charts on each....Even then if price action got a little brisk the whole lot would lock up....
Back to normal charts for now I guess....
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