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Blind Renko

  • #21
  • Jan 1, 2021 5:58am Jan 1, 2021 5:58am
Hey Back, what's the entry criteria when you place a trade based on your this stratgey ?
Regret is Brutal
  • #22
  • Jan 1, 2021 1:56pm Jan 1, 2021 1:56pm
Sorry I might be missing something but why use the indicator. You can just convert candles to Renko anyway in tradingview?
  • #23
  • Jan 3, 2021 1:09am Jan 3, 2021 1:09am
Quoting kd1
Hey Back, what's the entry criteria when you place a trade based on your this stratgey ?
I place a trade on the after the first candle close after a successful change candle colour. Stops below or above 3 Renko candles. If it retraces by 3 Renko bricks it means it has shown a reversal.
https://www.tradingview.com/x/nnPb8V8L/
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  • #24
  • Jan 3, 2021 1:12am Jan 3, 2021 1:12am
Quoting Redsub
Sorry I might be missing something but why use the indicator. You can just convert candles to Renko anyway in tradingview?
renko bricks plotted on TV repaints, this happens because it plotted based on the candle open and close values, so the moves shown on Renko bricks only represent the price move inside of a candles body and wicks movements are not shown.
hence we have time based Renko.
So by using this indicator we can see candle closes and also have then coloured with the respective Renko colour.
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  • #25
  • Jan 15, 2021 3:15am Jan 15, 2021 3:15am
Hi Backhoe, any updates on this system?

best regards
  • #26
  • Jan 15, 2021 3:46am Jan 15, 2021 3:46am
Quoting BataviaTrade
Hi Backhoe, any updates on this system? best regards
yes there is a lot I need to share, I am a little busy with work stuff. I will post my updates next week hopefully. I have a few changes made and Excell docs to post too.
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  • #27
  • Feb 22, 2021 4:48am Feb 22, 2021 4:48am
Guys i am back,, after a long it feels really good to be back trading/
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  • #28
  • Feb 23, 2021 1:26am Feb 23, 2021 1:26am
Quoting Backhoe
Guys i am back,, after a long it feels really good to be back trading/
So Whats new Mate ?
Regret is Brutal
  • #29
  • Edited Feb 25, 2021 12:14am Feb 24, 2021 11:38pm | Edited Feb 25, 2021 12:14am
Quoting kd1
{quote} So Whats new Mate ?
I have made a simple script to show the Renko overlay properly on trading view chart. Just create a new pine script indicator script remove everything and paste the following code. It is still in development. (I am a novice coder) once you have the indicator saved add it to chart. The change the Line setting to "stepline" If you have set it up properly it should look like this.

Inserted Code
study(title='BlindRenko', shorttitle='BR-1', overlay=true)
tf = input(title="Timeframe", type=resolution,defval="")
mode = input('ATR')
mode_value = input(14, type=float)
//showOverlay = input(true)
showBarColors = input(true)
//showMA = input(false)
//MA_length = input(12)
rt = renko(tickerid, 'close', mode, mode_value)
ro = security(rt, tf, open)
rc = security(rt, tf, close)
p1=plot(ro,color=black,transp=0)
p2=plot(rc,color=black,transp=0)
colorf = rc > ro ? #00ff80 : rc < ro ? #ff8000 : gray
fill(p1,p2,color=colorf)
//h1=hline(float(ro))
//plot(not showOverlay ? na : max(rc,ro), color=colorf, style=columns, transp=50)
//plot(not showOverlay ? na : min(rc,ro), color=white, style=columns, transp=0)
//ma = showMA ? sma(ro, MA_length) : na
//plot(not showMA ? na : ma, color=black, linewidth=2)
barcolor(not showBarColors ? na : rc > ro ? blue : red)
Attached Image (click to enlarge)
Click to Enlarge Name: download.png Size: 127 KB
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  • #30
  • Edited Feb 25, 2021 12:27am Feb 24, 2021 11:44pm | Edited Feb 25, 2021 12:27am
This is another tool with three time frames all in one indicator. I am working on ore tools to make our job easy, so eventually here will less manual drawing and more trading.
Features I am working on auto drawing boxes, auto calculating trends, providing alerts and auto stop loss and protection lines/alerts
I am learning pine script as I am developing this project.
if everything is setup properly it should look like this. Please note to change to step line in settings. And feel free to use your own colors.


Inserted Code
study(title='BlindRenko Multi', shorttitle='BR-Multi', overlay=true)
//tf = input(title="Timeframe", type=resolution,defval="")
tf1 = input(title="Timeframe", type=resolution,defval="60")
tf2 = input(title="Timeframe", type=resolution,defval="240")
tf3 = input(title="Timeframe", type=resolution,defval="1D")
mode = input('ATR')
mode_value = input(14, type=float)
//showOverlay = input(true)
showBarColors = input(true)
//showMA = input(false)
//MA_length = input(12)
rt = renko(tickerid, 'close', mode, mode_value)
//ro = security(rt, tf, open)
//rc = security(rt, tf, close)
ro60 = security(rt, tf1, open)
rc60 = security(rt, tf1, close)
ro240 = security(rt, tf2, open)
rc240 = security(rt, tf2, close)
ro1d = security(rt, tf3, open)
rc1d = security(rt, tf3, close)
//p1=plot(ro)
//p2=plot(rc)
//colore = rc > ro ? #00ff80 : rc < ro ? #ff8000 : gray
//fill(p1,p2,color=colore)
p160=plot(ro60)
p260=plot(rc60)
colorf = rc60 > ro60 ? #00ff80 : rc60 < ro60 ? #ff8000 : gray
fill(p160,p260,color=colorf)
p1240=plot(ro240)
p2240=plot(rc240)
colorg = rc240 > ro240 ? #00ff80 : rc240 < ro240 ? #ff8000 : gray
fill(p1240,p2240,color=colorg)
p11d=plot(ro1d)
p21d=plot(rc1d)
colorh = rc1d > ro1d ? #00ff80 : rc1d < ro1d ? #ff8000 : gray
fill(p11d,p21d,color=colorh)
 
//plot(not showOverlay ? na : max(rc,ro), color=colorf, style=columns, transp=50)
//plot(not showOverlay ? na : min(rc,ro), color=white, style=columns, transp=0)
//ma = showMA ? sma(ro, MA_length) : na
//plot(not showMA ? na : ma, color=black, linewidth=2)
barcolor(not showBarColors ? na : rc60 > ro60 ? blue : red)

cheers
Attached Image (click to enlarge)
Click to Enlarge Name: download (1).png Size: 146 KB
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  • #31
  • Feb 24, 2021 11:56pm Feb 24, 2021 11:56pm
so many opportunities in the past few weeks, I will keep this thread active by posting when see a trade.
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  • #32
  • Feb 24, 2021 11:57pm Feb 24, 2021 11:57pm
I will also be posting the indicator script in trading view public library.
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  • #33
  • Feb 24, 2021 11:59pm Feb 24, 2021 11:59pm
Great trades I missed yesterday,
https://www.tradingview.com/x/AWUqqQMC/

https://www.tradingview.com/x/5Rr6djnN/
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  • #34
  • Feb 25, 2021 12:04am Feb 25, 2021 12:04am
Looking at GU will take for it to discount to the first Renko brick close. I have pending orders set.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2021-02-25 at 11.33.27 AM.png Size: 349 KB
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  • #35
  • Feb 25, 2021 12:51am Feb 25, 2021 12:51am
MOST OF YOU FOLLOWING HAVE ALREADY GRASPED THE STRATEGY BUT I HAVE NOT GIVEN A PROPER ENTRY AND EXIT CRITERIA.

Well i had some time to make the strategy complete with proper money management, Give me a few more days i will present the strategy with all complete details. And then we all can start trading live.

Cheers.
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  • #36
  • Mar 1, 2021 11:51pm Mar 1, 2021 11:51pm
great work so far buddy....
Regret is Brutal
  • #37
  • Apr 29, 2021 6:25am Apr 29, 2021 6:25am
Do you have any news here?
  • #38
  • Aug 30, 2024 11:29am Aug 30, 2024 11:29am
So is Backhoe here? Any updates? Does anyone else want to revive this thread, I read all the things backhoe posted, I like the way he explained everything. But I don't know why he disappeared all of a sudden. I guess he is making lots of money and doesn't care about forex factory anymore.

If anyone is interested to continue this strategy I will be willing to contribute, I will try this strategy from next week.

BEST REGARDS
Stick to market structure, support & resistance and simple price action
  • #39
  • Aug 31, 2024 1:00am Aug 31, 2024 1:00am
I have got the chart setup just like Backhoe. I have created templates for the boxes he draws etc…
If anyone asking, I am using Blind Renko BR-1 indicator from Backhoe. You can find the code in this Post 29

Best regards
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 25 KB
Stick to market structure, support & resistance and simple price action
  • #40
  • Aug 31, 2024 1:07am Aug 31, 2024 1:07am
I am also loving BlindRenko-Multi indicator Backhoe mentioned in POST 30 it is a great indicator I don't even have to draw lines and switch between timeframes. Hopefully things go as smooth as it is right now. A Million thanks to Backhoe for all these tools wherever they are.

Best regards
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 33 KB
Stick to market structure, support & resistance and simple price action
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