{quote} You told us a lot about your glorious winning trades. So tell us more about your losing trades, cause losing days are all I see when backtesting your strategy
Don't think!
Renko trading using proven strategy
- #523
- Mar 9, 2021 9:14am Mar 9, 2021 9:14am
- Joined Sep 2014 | Status: FF is a waste of time | 1,361 Posts
Hi renko lovers lol, Can the experienced renko traders share the optimal parameters for their MACD. I Is the entry and exist rules are MACD>0 + htf arrow as a buy and opparis for sell? Iv spend quit a bit of time with renko and hma. And i cant seem to a find a way to detect when renko is not in a range from an indicator since im trying to build my own scalping ea. Any suggestions?
It does not have optimal settings. If you use pending orders it will limit the opening of bad orders. EA and market orders are not a good idea. Fuck signal will quickly destroy your account.
if you're doing we all have results with all
- #525
- Mar 9, 2021 4:48pm Mar 9, 2021 4:48pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
- #528
- Mar 10, 2021 3:16pm Mar 10, 2021 3:16pm
- Joined Sep 2014 | Status: FF is a waste of time | 1,361 Posts
Hi traders,
there are so many simple and well-functioning market strategies. If you do your homework, you can cut your piece of cake.
there are so many simple and well-functioning market strategies. If you do your homework, you can cut your piece of cake.
if you're doing we all have results with all
- #529
- Mar 10, 2021 5:08pm Mar 10, 2021 5:08pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
Hi traders, there are so many simple and well-functioning market strategies. If you do your homework, you can cut your piece of cake. {image}
I trade Natural Gas using a Renko brick size of 1 pip and it's so frustrating at times that I don't trade. I just checked what would happen if I traded it using bricks of half a pip. The chart looks a lot better. Today the first 2 trades were break even trades so the profit was 4 pips excluding the last arrow signal as seen in the first chart. Had I used bricks of half a pip there would have been the same number of trades but with a better result (second chart). The 2 break even trades in the first chart would have resulted in a profit of 4 half pips each while the 4 pips winning trade would have resulted in a profit of 13 half pips. The result using brick size of half pips would have been 21 half pips or 10 1/2 pips; more than double the result using 1 pip brick size. In addition losing trades would be smaller. I guess that I'm still learning from my mistakes 
- #531
- Mar 11, 2021 4:48pm Mar 11, 2021 4:48pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
- #534
- Mar 12, 2021 7:18am Mar 12, 2021 7:18am
- Joined Sep 2014 | Status: FF is a waste of time | 1,361 Posts
Hi Hutch,
thanks for the tip. I have never traded XNGUSD but it looks like a trading tool for my trading style.
Respects important price zones, constant streed 2 pips, commission 0.
Super
thanks for the tip. I have never traded XNGUSD but it looks like a trading tool for my trading style.
Respects important price zones, constant streed 2 pips, commission 0.
Super
if you're doing we all have results with all
- #536
- Mar 12, 2021 8:09am Mar 12, 2021 8:09am
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
{quote} May be I am missing something, but if you trade with such small bricks, how many bricks do you need to cover the bid/ask spread?
The spread is 0.6 pip or $60 so to make a profit you need at least a 1 brick profit ($100). If you find a broker with a lower spread please tell us. Yesterday I switched from bricks of 1 pip to bricks of 0.5 pip and although it looks so good while looking at the chart at the end of the day it's much more difficult to trade using bricks of 0.5 pip than trading using bricks of 1 pip. This is because the half trend gives too many signals that later disappeared and this can lead to losses. Don't forget that the maximum ATR for Natural Gas is rarely in excess of 10 pips so it really limits your potential profits. Trading oil is much better since the ATR is more than 250 these days. This is much better than trading currency pairs such as the EURUSD that only has an ATR of 80.
- #537
- Mar 12, 2021 8:12am Mar 12, 2021 8:12am
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
If your still not convinced that algo trading with renko on mt5 is a decent way to make profit. {image} Id say otherwise. I attached the full report in the new thread. Sorry i wont spam this spread anymore
- #539
- Mar 13, 2021 1:30am Mar 13, 2021 1:30am
{quote} A while ago I stated that choosing the right brick size was important but like a good priest I don't do everything that I preach
Hi Hutch,
Could you please share the indicators and template? Thanks
- #540
- Mar 13, 2021 12:02pm Mar 13, 2021 12:02pm
haha although i said i was done with mt4 just the same as i said i wont post here lol. I ended up making a experimental ea that seems to work with renko fairly well. Since most renko traders are mt4 users find the demo ea from this thread and feel free to share you demo forward test results.
https://www.forexfactory.com/thread/...4#post13450624
https://www.forexfactory.com/thread/...4#post13450624