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Renko trading using proven strategy

  • #481
  • Jan 5, 2021 1:40pm Jan 5, 2021 1:40pm
Quoting metta87
{quote} Where is your last bad trade ?
Bad trades normally occurred when I didn't follow my own rules and this is rare. Bad trades also occurred when I entered into trades when I got a bad signal and this is also rare. Even after having traded since 2005 I'm still learning.
  • #482
  • Jan 5, 2021 1:49pm Jan 5, 2021 1:49pm
Quoting FXsniper111
{quote} I think we may have different renko ea`cause mine 3 is 3 pips and om dow one pip is 100 so when i used stoploss on Dow it was 1200 and the boxes 600 so the boxes SL
I use STS Renko and it's an indicator made by the creator of this thread.
  • #483
  • Jan 5, 2021 6:23pm Jan 5, 2021 6:23pm
Quoting Alberto_Jazz
{quote} I seem this indicator works like zig-zag, so it repaints on every new high/low.
That's fine with me, when you backtest such an indicator you should do tick replay.
  • #484
  • Jan 5, 2021 10:17pm Jan 5, 2021 10:17pm
Quoting Alberto_Jazz
{quote} I seem this indicator works like zig-zag, so it repaints on every new high/low.
No, it does not produce an arrow on every new high/low. If you try it out for a while, you'll see how it works.

Read this: https://www.forexfactory.com/thread/...4#post13219524
  • #485
  • Edited 7:49am Jan 6, 2021 7:30am | Edited 7:49am
I see the indicator repaints, take a look at these screenshoots on today EURCAD
Attached Images
  • #486
  • Jan 6, 2021 2:26pm Jan 6, 2021 2:26pm
Quoting Alberto_Jazz
I see the indicator repaints, take a look at these screenshoots on today EURCAD {image} {image}
I doesn't really matter that it repaints, I could show you how to generate a non repainting range bound cycle index but I need some tick data for that
can someone share a week worth of tick data of any pair?
  • #487
  • Jan 6, 2021 4:44pm Jan 6, 2021 4:44pm
Quoting eurolinux
{quote} I doesn't really matter that it repaints, I could show you how to generate a non repainting range bound cycle index but I need some tick data for that can someone share a week worth of tick data of any pair?
It allways matter if an indicator repaints. One thing is that the signals moves forward and repaint on the next bars. That is unpleasent, but much worse is when it paints a signal to trade and after a while the trend goes in the opposite direction and then sudently the signal has gone - like if it was never there.

In my experiance - never use repainting indicators.

Some people have other experiances and I don't want to be judging - just what I have seen over time at many years of tradin.
MetaTrader 4 - so many advantages.
  • #488
  • Jan 6, 2021 8:09pm Jan 6, 2021 8:09pm
Quoting RiskFighter
{quote} It allways matter if an indicator repaints.
It depends if you backtest plotting it on a chart than yes it does. When you do tick reply you need to see if the filtered entries perform better than the non filtered ones that's all
I'm in this to make money not for having a perfect non repainting indicator. does the repainting indicator improves the win/loss ratio? if it does than that's all that matters
  • #489
  • Edited 8:54pm Jan 6, 2021 8:43pm | Edited 8:54pm
Quoting eurolinux
{quote} It depends if you backtest plotting it on a chart than yes it does. When you do tick reply you need to see if the filtered entries perform better than the non filtered ones that's all I'm in this to make money not for having a perfect non repainting indicator. does the repainting indicator improves the win/loss ratio? if it does than that's all that matters
“I’m in this to make money “ your mistake? is overthinking technical analysis it should only be small and simple work
Master your mind. Master Trading.
  • #490
  • Jan 6, 2021 9:37pm Jan 6, 2021 9:37pm
I want run a tick replay on a renko chart with various filters, Can someone share some tick data on any pair? my broker provides 1s data but not tick by tick
  • #491
  • Jan 7, 2021 3:51am Jan 7, 2021 3:51am
Quoting eurolinux
{quote} It depends if you backtest plotting it on a chart than yes it does. When you do tick reply you need to see if the filtered entries perform better than the non filtered ones that's all I'm in this to make money not for having a perfect non repainting indicator. does the repainting indicator improves the win/loss ratio? if it does than that's all that matters
I do not talk about test. This is manual trading with real money. You had a fine setup, you traded it and suddently the setup disapear - backwards. The arrow that told you to get into a trade is gone. Vanished! Next thing you know is that the trend does the exact opposite as expected and you are in a loosing trade.
MetaTrader 4 - so many advantages.
  • #492
  • Jan 7, 2021 4:11am Jan 7, 2021 4:11am
And you cannot trust back test. Well I run lots of back tests anyway, because they can give a good clue. But take a look at this test. The periode is the whole 2020. Gain on a 10.000$ demo account is 304,625$ Will I win that in 2021?? Never, not a chance. This test is optimized and it would be as if you could buy a Lotto and you knew the winning numbers when buying it.

But I have found some interesting settings and I will try them just for the fun of it.
Then some people will look at the draw down on 74%. Yea that is dangeruos, but I will not invest 10.000$. Maybe 500$ and I don't give a dam if I lose them. And that really is a possibility - blowing the account big time. Just for the fun :-)

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MetaTrader 4 - so many advantages.
  • #493
  • Jan 7, 2021 5:50am Jan 7, 2021 5:50am
Quoting RiskFighter
And you cannot trust back test. Well I run lots of back tests anyway, because they can give a good clue. But take a look at this test. The periode is the whole 2020. Gain on a 10.000$ demo account is 304,625$ Will I win that in 2021?? Never, not a chance. This test is optimized and it would be as if you could buy a Lotto and you knew the winning numbers when buying it. But I have found some interesting settings and I will try them just for the fun of it. Then some people will look at the draw down on 74%. Yea that is dangeruos, but I will not invest...
The test is optimized only when you optimize it and can it can always be walk forward tested to have a clue about a future performance, I ran hundreds of tests in the past mechanical entries without discretion are not a good way to trade imo.
  • #494
  • Jan 7, 2021 11:03am Jan 7, 2021 11:03am
Quoting Alberto_Jazz
I see the indicator repaints, take a look at these screenshoots on today EURCAD {image} {image}
Best to avoid the cycle identifier as a confirmation indicator. Stick to Hutch's FX Bay MACD or something similar like a BB MACD (this is a good one: https://www.forexfactory.com/thread/...5#post13340415 )
  • #495
  • Jan 7, 2021 12:58pm Jan 7, 2021 12:58pm
Quoting pantera1
{quote} Best to avoid the cycle identifier as a confirmation indicator. Stick to Hutch's FX Bay MACD or something similar like a BB MACD (this is a good one: https://www.forexfactory.com/thread/...5#post13340415 )
I don't see a use for the MACD it's not filtering the signals. It's always in the direction of the renko candle
  • #496
  • Jan 8, 2021 4:27am Jan 8, 2021 4:27am
Quoting pantera1
{quote} Here you go! {file}
useless - indicator repaint
  • #497
  • Jan 8, 2021 9:11am Jan 8, 2021 9:11am
Quoting hundsbua
{quote} useless - indicator repaint
obviously not users are making profitable trades with it including me
  • #498
  • Jan 8, 2021 1:12pm Jan 8, 2021 1:12pm
Quoting eurolinux
{quote} I don't see a use for the MACD it's not filtering the signals. It's always in the direction of the renko candle
Quoting eurolinux
{quote} obviously not users are making profitable trades with it including me
If you open a trade on an uncompleted Renko brick you're taking a risk. Sometimes the trade works and sometimes it doesn't. Opening a Renko trade always has to be after the current signal brick has closed. I should have emphasized this but I thought that traders using Renko knew this.

Please take a look at my answer here: https://www.energyexch.com/thread/po...0#post13350420 and you will see how the FxBay MACD is filtering signals.
  • #499
  • Jan 9, 2021 12:29pm Jan 9, 2021 12:29pm
Quoting Hutch
{quote}
If you open a trade on an uncompleted Renko brick you're taking a risk. Sometimes the trade works and sometimes it doesn't. Opening a Renko trade always has to be after the current signal brick has closed. I should have emphasized this but I thought that traders using Renko knew this. Please take a look at my answer here: https://www.energyexch.com/thread/po...0#post13350420 and you will see how the FxBay MACD is filtering signals.
Thank you for the explanation. So FxBay MACD positive confirms long trades and FxBay MACD negative confirms short trades, is it correct?
  • #500
  • Jan 9, 2021 1:57pm Jan 9, 2021 1:57pm
Quoting Alberto_Jazz
{quote} Thank you for the explanation. So FxBay MACD positive confirms long trades and FxBay MACD negative confirms short trades, is it correct?
Hi Alberto, yes it's correct. As stated above the mistake that some traders make is to enter into a trade on the same brick as the arrow from the Half Trend TT so it's obvious that the brick hasn't closed. A problem is that you might see an arrow on the last brick of a session, like a Friday, and it will not be there when the market opens on Monday since the brick that was started on Friday has now closed on Monday. In that case you might say that the Trend TT repaints.

Please take a look at this post and you will see why the Half Trend TT is better than non-repainting Half Trends.

https://www.forexfactory.com/thread/...5#post13162815
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