Neo Renko Pattern Trading | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Renko 1,136 replies

RENKO Trading SYSTEM - RENKO Indicators 7 replies

renko pattern scanner desperately needed 9 replies

Price pattern scanner where I choose the pattern 4 replies

New Renko Bar and Reversal Renko Bar Indicator Alert Help Please 5 replies

Attachments: Neo Renko Pattern Trading
Exit Attachments

Neo Renko Pattern Trading

  • #1
  • First Post: Edited Apr 21, 2021 6:54am Apr 10, 2021 3:36am | Edited Apr 21, 2021 6:54am
Hello folks,

Here is a small EA that should be put on RENKO charts only.

Every time a specific pattern is found it open 2 trades with ATR TP & SL (most like NNSFX). When the first trade touch his TP the second is set to breakeven and then trail stop.

Settings are :

ATR_Multiplier_TP1 : ATR Multiplier to calculate TP 1
ATR_Multiplier_SL1 : ATR Multiplier to calculate stop loss
ATR_Multiplier_TP2 : ATR Multiplier if you want to set at TP for the second position
DistanceFromStop : The trailing stop
StopIncrement : The step for trailing stop
MinLostSize : Minimum Lot Size
Risk : Risk per trade

If you wanna play with it and help by doing backtest you are welcome

--------------------------------------------------
Verison 1.6, you can create custom pattern and the order send function has been improved.
Attached File(s)
File Type: ex4 NeoRenkoPattern.ex4   15 KB | 639 downloads
File Type: ex4 NeoRenkoPattern_1.6.ex4   18 KB | 569 downloads | Uploaded Apr 21, 2021 6:54am
  • #2
  • Apr 10, 2021 4:32am Apr 10, 2021 4:32am
Quoting neosqualls
Hello folks, Here is a small EA that should be put on RENKO charts only. Every time a specific pattern is found it open 2 trades with ATR TP & SL (most like NNSFX). When the first trade touch his TP the second is set to breakeven and then trail stop. Settings are : ATR_Multiplier_TP1 : ATR Multiplier to calculate TP 1 ATR_Multiplier_SL1 : ATR Multiplier to calculate stop loss ATR_Multiplier_TP2 : ATR Multiplier if you want to set at TP for the second position DistanceFromStop : The trailing stop StopIncrement : The step for trailing stop MinLostSize...
Does it have expiration or other restrictions?
Please excuse the bad English via Google Translate.
  • #3
  • Apr 10, 2021 4:37am Apr 10, 2021 4:37am
Attached Image (click to enlarge)
Click to Enlarge Name: StrategyTester.gif Size: 11 KB
Attached Image (click to enlarge)
Click to Enlarge Name: Rapport.png Size: 243 KB
  • #4
  • Apr 10, 2021 4:37am Apr 10, 2021 4:37am
Quoting dokopy
{quote} Does it have expiration or other restrictions?
No restriction of any kind.
  • #5
  • Apr 10, 2021 6:21am Apr 10, 2021 6:21am
Hi,
Is it possible to know what is this specific patern?
Cheers
jf
  • #6
  • Apr 10, 2021 6:45am Apr 10, 2021 6:45am
Example for buy :

Candle 1 : up
Candle 2 : down
Candle 3 : down
Candle 4 : up
Candle 5 : up
Candle 6 : up

Reverse for sell

Backtest with renko box 100 points
  • #7
  • Apr 11, 2021 1:18pm Apr 11, 2021 1:18pm
none of the 50 downloaders interested to at least leave a comment ?
  • #8
  • Apr 11, 2021 1:44pm Apr 11, 2021 1:44pm
I will also try trading "Only Long" and "Only Short". It will work?
Please excuse the bad English via Google Translate.
  • #9
  • Apr 11, 2021 1:58pm Apr 11, 2021 1:58pm
Quoting dokopy
I will also try trading "Only Long" and "Only Short". It will work?
Hi Dokopy, can you elaborate what you wanna try ?
  • #10
  • Apr 11, 2021 2:09pm Apr 11, 2021 2:09pm
Quoting neosqualls
{quote} Hi Dokopy, can you elaborate what you wanna try ?
Just such an idea. Over the weekend, I will use analyzes to try to estimate the direction of price movements for some couples. From Monday, I will let EA trade only in this direction. I need bigger profits when prices move in the right direction and smaller losses the other way around.
Please excuse the bad English via Google Translate.
  • #11
  • Apr 11, 2021 2:11pm Apr 11, 2021 2:11pm
Well if you only take the sell trade for the period i have tested, from 2018 to now, you get better result. Buy only give poor result.

The point of this is not the entry point but the management of the trade. As you said, take big profit when trade is going in good direction and cut loss when wrong.
  • #12
  • Apr 11, 2021 2:31pm Apr 11, 2021 2:31pm
Quoting neosqualls
Well if you only take the sell trade for the period i have tested, from 2018 to now, you get better result. Buy only give poor result. The point of this is not the entry point but the management of the trade. As you said, take big profit when trade is going in good direction and cut loss when wrong.
The analysis will only be valid for one week of trading.
Please excuse the bad English via Google Translate.
  • #13
  • Apr 12, 2021 10:11pm Apr 12, 2021 10:11pm
EA did not trade on the demo account in any way.
Please excuse the bad English via Google Translate.
  • #14
  • Apr 13, 2021 1:56am Apr 13, 2021 1:56am
Did the pattern happened since you started using it? What pair did you try ?
  • #15
  • Apr 13, 2021 3:25am Apr 13, 2021 3:25am
Quoting neosqualls
Did the pattern happened since you started using it? What pair did you try ?
EURUSD, GBPUSD, GBPJPY, EURGBP. No activity.
Please excuse the bad English via Google Translate.
  • #16
  • Apr 13, 2021 4:10am Apr 13, 2021 4:10am
What renko box size?
  • #17
  • Apr 13, 2021 6:27am Apr 13, 2021 6:27am
Quoting neosqualls
What renko box size?
10 pips. I want to start from the beginning with 8 pairs with the highest volatility. How many trades per day are likely?
Please excuse the bad English via Google Translate.
  • #18
  • Apr 13, 2021 8:42am Apr 13, 2021 8:42am
You should be long on EURUSD @ 1.19100 since today, i will double check why you are not. What is the renko chart you use ? i use Mathtrader7 non-gap renko chart
  • #19
  • Apr 13, 2021 9:37am Apr 13, 2021 9:37am
Quoting neosqualls
You should be long on EURUSD @ 1.19100 since today, i will double check why you are not. What is the renko chart you use ? i use Mathtrader7 non-gap renko chart
I use the STG_RenkoChart.ex4 indicator.
Please excuse the bad English via Google Translate.
  • #20
  • Apr 16, 2021 2:07pm Apr 16, 2021 2:07pm
Hello.

I'm going to test the EA, see how it works.

I test it in demo with 50 and 100 points.

Thanks for sharing
0 traders viewing now