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Renko Trading Discussion

  • #1,641
  • Mar 18, 2021 11:12am Mar 18, 2021 11:12am
Quoting Hutch
{quote} The 3 charts were made using the same template with the same broker. Depending on the strategy used wicks can be good or not. It's a matter of choice. In that strategy the half trend indicator prints the arrows and obviously it works differently depending if Renko bricks have wicks or not. Please take a look at MathTrater7 Renko type pictures in this thread and you will see that there are other types of Renko bricks that can be produced Non-gap Renko Chart...
Ah okay I thought it was a gap difference but wasn't positive since I couldn't see the time of day haha. I'm a big supporter of renko charts, especially for day trading so it's always nice to see you and Havo post since you guys seem to be the biggest renko guys on here lol
  • #1,642
  • Mar 18, 2021 2:28pm Mar 18, 2021 2:28pm
Quoting MathTrader7
>>Introduction In this thread we discuss Renko trading strategies and share our trading systems, indicators and EAs. There are a few Renko trading EAs in Post 1. Some of them are based on the idea of FF members, some based on mine. I used to make money using Renko MA EA with re-optimizing the EA at the end of every week (to get the best input settings for trading the next week), but I no longer use any of the Renko EAs in Post 1. Currently I am forward testing a few new Renko EAs based on other strategies. If I have something promising (to be profitable)...

MathTrader7,

Not sure if right place to ask, but i think i seen you post something similar i just cant find it. Is it possible to have a chart generator that has dynamic brick/box size based on ATR?
  • #1,643
  • Mar 19, 2021 4:06am Mar 19, 2021 4:06am
Slow morning on DAX to break away from 14700, could be out for an early
Attached Image (click to enlarge)
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Everything should be made as simple as possible, but no simpler - Einstein
  • #1,644
  • Mar 19, 2021 5:53am Mar 19, 2021 5:53am
DAX +10 long from 14720, 5 and 10 pip bricks
Attached Image (click to enlarge)
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Everything should be made as simple as possible, but no simpler - Einstein
  • #1,645
  • Mar 19, 2021 6:45am Mar 19, 2021 6:45am
Good morning MT7.
I dont know what you did ( if it was an updatw on the renko chart creator or on the renkoEA)
Its working now on my xtb mt4 platform.
Im using it now on real without any problems.

Im using the multichart creaton btw

I understand that u dont check that code in a while now. But do you remeber is the last version 3.36 has the MA slope active on the slow MA?

Thank you
  • #1,646
  • Mar 19, 2021 7:01am Mar 19, 2021 7:01am
I also tried to put a supertrend EA on the MT7 chart creator. A very simple stuff easily found on the internet. Colour change tp sl be ts.

Although i faced some problems with the colour change (since it was on closed candle)

I think that was interferring with the fact that was not recognising the the renko closing + the colour changing as closing candle. (Idk if i pass the menssage right here)

Do you ever made any suprendtrend stuff for renko. It looks well on sight (also had a supertrend candle indicator to check the colour changes) but i dont know if would be trully profitable on the real world.

Thank you
  • #1,647
  • Mar 22, 2021 10:45am Mar 22, 2021 10:45am
A quick +5 scalp on the DAX after a distracted day. 5 pip bricks:
Attached Image(s) (click to enlarge)
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Everything should be made as simple as possible, but no simpler - Einstein
  • #1,648
  • Mar 22, 2021 5:55pm Mar 22, 2021 5:55pm
Quoting MathTrader7
Attached is Version 1.12 of MT7_Renko_Hercs_MACD_EA. In this version the ZeroLag MACD indicator is additionally used as a trend filter ZeroLag MACD trend logic: If Main line is below Signal line, the trend is supposed to be bearish. If Main line is above Signal line, the trend is supposed to be bullish. Note: The ZeroLag MACD indicator has been embedded into the EA's code. Below is a backtest on EURUSD, 10 pips non-gap Renko chart from 2018-01-02 till 2019-11-01 (real ticks), {image} {file}
@ MathTrader7,
Hi, I have been reading your posts regarding Renko trading, and also tried your EA for DEMO, may I know is there any EA you allow us try on live account ? thank you. I admire your efforts into the Renko trading alot by the way.
  • #1,649
  • Mar 24, 2021 8:02am Mar 24, 2021 8:02am
A bit of a boring channel
Attached Image (click to enlarge)
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Everything should be made as simple as possible, but no simpler - Einstein
  • #1,650
  • Mar 24, 2021 9:56am Mar 24, 2021 9:56am
Quoting Davidh061
A quick +5 scalp on the DAX after a distracted day. 5 pip bricks: {image} {image}
Hi David,

what triggered buying into the upper channel resistance level (22/03) for the +5, I can see it broke the 45 level but not much else ?
  • #1,651
  • Mar 24, 2021 11:16am Mar 24, 2021 11:16am
Quoting pgtips
{quote} Hi David, what triggered buying into the upper channel resistance level (22/03) for the +5, I can see it broke the 45 level but not much else ?
Hi PG,

Although it was looking like a downtrend there was enough support at 14630 I think (three tests) which I thought would be enough to give me a quick scalp, at it happened later in the day the price broke the upper level briefly. I could have gone badly wrong, but the three tests were fairly convincing for a quick one. Cheers, dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #1,652
  • Mar 24, 2021 11:19am Mar 24, 2021 11:19am
Quoting pgtips
{quote} Hi David, what triggered buying into the upper channel resistance level (22/03) for the +5, I can see it broke the 45 level but not much else ?
Just to add to that, I remember now, I nearly missed it, but the price pulled back and I managed to catch it, although a bit late, entry at 14651.2
Everything should be made as simple as possible, but no simpler - Einstein
  • #1,653
  • Mar 25, 2021 1:43pm Mar 25, 2021 1:43pm
I have a question: I run a EA on demo to help catch trend. Today, DAX and other index jump down together, EA opened sell orders. Normally, I should analyze then follow it, but people just frozen by big trend, can't react. Any idea how to improve it? Thanks.
  • #1,654
  • Mar 30, 2021 8:54pm Mar 30, 2021 8:54pm
Excuse me
Do I want to change which settings?
VPS has been open for 2 days, but there is no transaction?
Thank you
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  • #1,655
  • Apr 8, 2021 8:16am Apr 8, 2021 8:16am
Hi! Sorry if my english are bad, I'm spanish.
I'm Victor and I've been reading this thread for a couple of days because I have a renko trading system on the dax30 based on the ADX.
The system I use uses renko blocks of two pips, so sometimes the chart goes too fast and I am late to react.
The strategy is very simple, it is scalping.

Indicators:
-ADX in 40 periods (yes, 40) (Here I use the modified indicator ADX_Crossing_v_2_0 so that the exact candle where + DI and -DI cross appears on the chart.
-50 period EMA
-Sometimes I use MACD (3,6,3) to re-enter the trade if it does a retracement and continues on its way, but it is not necessary. (Here I use the modified MAS_MACD_inColorAlert indicator so that the crossing appears on the chart)

Rules:
For buys:
Price close above the EMA, buy when a bullish cross of + di and -di appears. Re entry when price retraces and Mas_macd_incoloralert draws a bullish rhombus, but it is not necessary.

For Sells:
Price closes below the EMA, sell when -di crosses up +di. Re entry when price retraces and Mas_macd_incoloralert draws a bearish rhombus, but it is not necessary.


MONEY MANAGEMENT FOR NORMAL TRADE:
SL: 5 PIPS
TP: Does not exist. The trade, when it is in 2 pips profit (1 block), move stoploss to breakeven,and is closed when a block appears against the trade.
MONEY MANAGEMENT FOR RE-ENTRYS:
A half of my normal trade lot

LOTS:
I use a risky management, and I risk 2% per trade, thus making each block of two pips have a profit of 1% of my account. Thus, with a single positive trade, I hit the daily profit target. (and it is difficult not to gain at least 4 pips to reach breakeven).
The good thing about this strategy is the excellent risk: reward ratio, since if you make a good trade of 6, 7 blocks, you have had a great profit.

Do you think an EA could be created with this strategy?
I have seen that there is an adx-based EA on this thread but I have not found the link, could someone pass it to me? Thanks a lot
  • #1,656
  • Apr 9, 2021 3:33am Apr 9, 2021 3:33am
Quoting victoorlh
Hi! Sorry if my english are bad, I'm spanish. I'm Victor and I've been reading this thread for a couple of days because I have a renko trading system on the dax30 based on the ADX. The system I use uses renko blocks of two pips, so sometimes the chart goes too fast and I am late to react. The strategy is very simple, it is scalping. Indicators: -ADX in 40 periods (yes, 40) (Here I use the modified indicator ADX_Crossing_v_2_0 so that the exact candle where + DI and -DI cross appears on the chart. -50 period EMA -Sometimes I use MACD (3,6,3) to re-enter...
Hi Victoorlh,
Sounds good, very tight on the DAX when it is thrashing around, but doable. I don't have an EA for this but I'm sure someone will have, nothing wrong with your English! Cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #1,657
  • Apr 9, 2021 3:37am Apr 9, 2021 3:37am
A quick +4 short on the DAX, 5 pip bricks. Maybe a break of 15150 although continued support at 160 may not allow that short term - IMHO
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 47732344_close.png Size: 27 KB
Everything should be made as simple as possible, but no simpler - Einstein
  • #1,658
  • Apr 9, 2021 4:30am Apr 9, 2021 4:30am
Quoting Davidh061
{quote} Hi Victoorlh, Sounds good, very tight on the DAX when it is thrashing around, but doable. I don't have an EA for this but I'm sure someone will have, nothing wrong with your English! Cheers, Dave
Hi! yes, you're rigth, for the same reason, that the DAX is very volatile, I only invest in the first hour of the market opening with a lot of volume (9AM Spanish time), to take large and fast operations and I use very fast renko blocks of two pips to, at least, put on breakeven the trade, and for that reason I also use a lot of lots (risking very few pips, obviously). (Also, in order not to overtrade, I only do 3 trades a day in the direction in which the analysis of the chart in 5MIN tells me it will go, and If I reach 4% losses in one day (2 trades), I do not trade again until the next day)
Although the problem remains that sometimes I am very late to the trade and that is why I was looking for an EA that did it better than me.
I attach my 3 trades today. Only sales because that is where the price was most likely to be based on the technical analysis.
green vertical line: point of entry
and red vertical line: point of exit of the trade.

I was late for the first trade. There would be many more buying and selling opportunities, but my daily goal has already been met and I don't want to overtrade. Greetings to all
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  • #1,659
  • Apr 9, 2021 4:37am Apr 9, 2021 4:37am
Is this it for the day - channel between 15160 and 15200? 5 and 10 pip bricks
Attached Image (click to enlarge)
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Everything should be made as simple as possible, but no simpler - Einstein
  • #1,660
  • Apr 9, 2021 6:12am Apr 9, 2021 6:12am
Quoting victoorlh
{quote} Hi! yes, you're rigth, for the same reason, that the DAX is very volatile, I only invest in the first hour of the market opening with a lot of volume (9AM Spanish time), to take large and fast operations and I use very fast renko blocks of two pips to, at least, put on breakeven the trade, and for that reason I also use a lot of lots (risking very few pips, obviously). (Also, in order not to overtrade, I only do 3 trades a day in the direction in which the analysis of the chart in 5MIN tells me it will go, and If I reach 4% losses in one...
Hi Victoorlh, There are some EA's created my MathTrader7 at the start of this thread which might help - maybe this one?:https://www.forexfactory.com/thread/...renko-strategy. I completely agree about the risks of overtrading! Cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
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