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Renko Mt5 trading

  • #41
  • Mar 16, 2021 12:06am Mar 16, 2021 12:06am
Quoting vonmunchy
{quote} Havo answered all your questions and I couldn't have said it any better. As for your above question. Just because EA performed your logic correctly doesn't nessairly means it would be the same in real market conditions. A simple error in code may not be reflected in backtests sometimes. You realize all these minior annoying issues only when you trade with live markets. If manual renko trading is what you want to do, mt4 is more than enough. You trade on custom symbol (MT5 term) / Offline Charts (MT4 term) with no issues when it comes to...
I am here specifically to learn about how you make EA comply with conditions so that it can be backtested in MT5.
It is good you are explaining the rationale for using MAs.


I find MT5 good for tick trading.
I trade futures for which MT5 is a good platform.
Exchanges don't recognise MT4 as a fit platform for their use.
Practice makes a person perfect
  • #42
  • Mar 16, 2021 12:49am Mar 16, 2021 12:49am
Quoting simnz
{quote} I am here specifically to learn about how you make EA comply with conditions so that it can be backtested in MT5. It is good you are explaining the rationale for using MAs. I find MT5 good for tick trading. I trade futures for which MT5 is a good platform. Exchanges don't recognise MT4 as a fit platform for their use.
Sure buy my couse for $9,999.99
  • #43
  • Mar 16, 2021 12:50am Mar 16, 2021 12:50am
Joking aside I think I needs to be a new thread. Il post the link in for a new thread soon
  • #44
  • Mar 16, 2021 3:24am Mar 16, 2021 3:24am
Quoting simnz
{quote} I am here specifically to learn about how you make EA comply with conditions so that it can be backtested in MT5. It is good you are explaining the rationale for using MAs. I find MT5 good for tick trading. I trade futures for which MT5 is a good platform. Exchanges don't recognise MT4 as a fit platform for their use.
https://www.forexfactory.com/thread/...7#post13453557

Theres the thread. Good luck
  • #45
  • Mar 17, 2021 7:18pm Mar 17, 2021 7:18pm
Hello Vonmunchy,

I have tried a couple of Renko indicators for MT5 (rented few commercial ones) and did not find a good reliable one.

I usually trade Renko on Mt4 (I have Ovo Omnia Bar). I am unable to make the shift to Renko trading in MT5 as I have not found a good reliable Renko indicator or EA for MT5.

What commercial Renko would you recommend?

Generally, when it comes to MT5, my understanding is that there a Renko indicator that would open a sub-window in the same Time charts which is ideal for the execution of trades. Also, there is another type of Renko EA that would create a custom symbol that is non-tradable (ideal for retrieving more bars in history for technical analysis).
  • #46
  • Mar 18, 2021 12:49am Mar 18, 2021 12:49am
Quoting mtharwat
Hello Vonmunchy, I have tried a couple of Renko indicators for MT5 (rented few commercial ones) and did not find a good reliable one. I usually trade Renko on Mt4 (I have Ovo Omnia Bar). I am unable to make the shift to Renko trading in MT5 as I have not found a good reliable Renko indicator or EA for MT5. What commercial Renko would you recommend? Generally, when it comes to MT5, my understanding is that there a Renko indicator that would open a sub-window in the same Time charts which is ideal for the execution of trades. Also, there is another...
i just use a hma and ma. It no where near perfect just experimenting different strategies. I build my strategies in fxdreema and run the ea on custom chart in this case renko chart. The trade gets placed on the default symbol
  • #47
  • Mar 18, 2021 1:23am Mar 18, 2021 1:23am
Quoting vonmunchy
{quote} i just use a hma and ma. It no where near perfect just experimenting different strategies. I build my strategies in fxdreema and run the ea on custom chart in this case renko chart. The trade gets placed on the default symbol
What I meant in my question is which Renko EA/Indicator do you use for MT5 to create a custom Renko chart.
  • #48
  • Mar 18, 2021 1:27am Mar 18, 2021 1:27am
Quoting mtharwat
{quote} What I meant in my question is which Renko EA/Indicator do you use for MT5 to create a custom Renko chart.
Look up KT Renko. It's free for demo
  • #49
  • Mar 18, 2021 2:00am Mar 18, 2021 2:00am
Quoting vonmunchy
{quote} Look up KT Renko. It's free for demo

Sorry to bother you again:

The looked up KT Renko and it is more for creating automated Renko patterns and stuff like this. I want the actual Renko generator. I followed one of the links and it led me to a free MT5 renko generator by KT but I have doubt if any free Renko generator for MT5 would work.

Have you personally tested the actual Renko Bricks and found it is working without repainting, etc... and compared it to a proper commercial MT4 Renko generator?

I can do the test myself later on but wanted to get your opinion first.

Thanks,
  • #50
  • Mar 18, 2021 2:04am Mar 18, 2021 2:04am
Quoting mtharwat
{quote} Sorry to bother you again: The looked up KT Renko and it is more for creating automated Renko patterns and stuff like this. I want the actual Renko generator. I followed one of the links and it led me to a free MT5 renko generator by KT but I have doubt if any free Renko generator for MT5 would work. Have you personally tested the actual Renko Bricks and found it is working without repainting, etc... and compared it to a proper commercial MT4 Renko generator? I can do the test myself later on but wanted to get your opinion first. Thanks,...
I run my backtests and forward tests on that ea. So far I have not noticed any abnormalities
  • #51
  • Mar 18, 2021 9:12am Mar 18, 2021 9:12am
Quoting vonmunchy
{quote} i just use a hma and ma. It no where near perfect just experimenting different strategies. I build my strategies in fxdreema and run the ea on custom chart in this case renko chart. The trade gets placed on the default symbol
I found that EA Builder . com was better then fxdreema, try it out.
  • #52
  • Mar 18, 2021 9:13am Mar 18, 2021 9:13am
Quoting vonmunchy
{quote} If any was wondering why I choose Hull Moving Average and a simple Moving Average. Reason was simple. Hull is a leading indicator and moving average is lagging indicator and both are trend following.
what hull ma # and sma # did you test in that graph you posted from jan 1?
  • #53
  • Mar 18, 2021 9:43am Mar 18, 2021 9:43am
Quoting FxHiveMind
{quote} what hull ma # and sma # did you test in that graph you posted from jan 1?
In a previous post, I posted a partial optimization. I don't remmber the exact parameters now
  • #54
  • Edited 12:54am Mar 19, 2021 12:15am | Edited 12:54am
Quoting vonmunchy
{quote} I run my backtests and forward tests on that ea. So far I have not noticed any abnormalities
I tried it and it is better than any MT5 Commercial renko generator I have tried.
I will keep testing but so far Iam very happy with it.

Edit:
Forgot to ask:
When I go to the main standard TF chart and change the setting of the box size, a new chart is opened with the new setting and the already opened one stays without getting updated.
So in order to have multiple Renko charts, should I apply the EA on two/three standard time frame charts?
  • #55
  • Mar 19, 2021 12:18am Mar 19, 2021 12:18am
Quoting FxHiveMind
{quote} I found that EA Builder . com was better then fxdreema, try it out.
I have both at the moment ( purchased FX Dreema 24 hours ago and has not yet tried it).

Mind if you make a full review of what pros and cons you found with each?

Thanks
  • #56
  • Mar 19, 2021 5:38am Mar 19, 2021 5:38am
Quoting mtharwat
{quote} I tried it and it is better than any MT5 Commercial renko generator I have tried. I will keep testing but so far Iam very happy with it. Edit: Forgot to ask: When I go to the main standard TF chart and change the setting of the box size, a new chart is opened with the new setting and the already opened one stays without getting updated. So in order to have multiple Renko charts, should I apply the EA on two/three standard time frame charts?
as long as the ea is running on the main chart. all custom charts gets updated
  • #57
  • Mar 21, 2021 12:42pm Mar 21, 2021 12:42pm
Quoting vonmunchy
Hi renko lovers lol, I myself am a fan renko and love to test things out with renko. Just like many of you i too am a simple rookie trader with no coding experience. So let me tell you a summery of my journey so far with renko. I first got to know renko about from one of renko threads here. Than saw MathTrader renko chart generator. From there did experimenting with his renko eas posted and spend a shit load of time back reading several years into the thread. Most of it is pretty out dated information and as for MathTraders EAs he keeps them updated...
Which renko generator are you using that doesn't allows backtesting in MT5? I love renko charts but haven't moved to MT5 because I can't place a trade on custom symbols. Any help would be greatly appreciated.
  • #58
  • Mar 21, 2021 4:09pm Mar 21, 2021 4:09pm
Quoting tah3000
{quote} Which renko generator are you using that doesn't allows backtesting in MT5? I love renko charts but haven't moved to MT5 because I can't place a trade on custom symbols. Any help would be greatly appreciated.
https://www.mql5.com/en/market/produ...ing004%3arenko

you can backtest and run it with demo too
  • #59
  • Mar 23, 2021 1:49pm Mar 23, 2021 1:49pm
Thank you very much. Backtesting in MT5 is just a pleasure. I'm backtesting in MT5 and forward testing in MT4
  • #60
  • Apr 18, 2021 7:39am Apr 18, 2021 7:39am
Quoting havo
Funny i found this thread and somehow i feel the same about trading this days.. And i went for the exact same process you described XD A few tips: 1.- Play with the Renko strengths and pros which its accuracy and precision !! once you start slapping indicators and ignore what the bricks are telling, you are diminishing the pros of chosing a renko chart in the first place 2.- A TON of indicators with renko are useless or redundant, again, dont treat renko like a regular time chart by trying to find a "mgic" combo that will give you a 100% win rate...
An indicator to determine renko brick is useful though, as it needs to be change during time of volatility and market. How would ou do that or BTC, for GOLD?
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