Joined Sep 2019
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Status: Traveling the world in my dreams
|160 Posts
Hello, I have followed the APPLE Chart throughout the month, the truth is that with 20-point renko candles it is easy to follow the price when there is enough volume, apart from following the strategy of the good Davidh061, good entries could be obtained. Could be a potential asset to trade at the NY open
Hello, I have followed the APPLE Chart throughout the month, the truth is that with 20-point renko candles it is easy to follow the price when there is enough volume, apart from following the strategy of the good Davidh061, good entries could be obtained. Could be a potential asset to trade at the NY open {image}
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Hi JaimeAlejan,
looks good, although 20 point might be a bit small for some instruments, cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
l cant seem to make the ma cross ea work on my mt4; l have followed all the instructions on post 1. l was able to make the older renkoEA 3.36 work though. lm really at a loss.
Hi everybody, I just joined this forum, even though I have been reading various threads in this forum for months. I am very interested in “renko chart strategy” but I think there is something hidden in the renko chart system, namely hidden ranging movements. I think if we can find out how often the price ranges from one brick to another we can consider whether the price is in high or low volatility. More than that maybe we can consider that the price is losing momentum and will reverse direction. Below I include 2 pictures that explain the hidden ranging renko scheme and the appearance of the indicator after it is installed on the renko chart.
Is there an indicator like this in FF? If it's already there can someone kindly share it here? Or if it doesn't exist, I really hope there is someone who is kind enough to make it and share it here. Thank you in advance.
I think there is something hidden in the renko chart system, namely hidden ranging movements.
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Good that you are thinking outside the box! :-)
Typically Renko bars are used to abstract away the underlying price action to present the user a simplified view on the market. Indeed, as you suspect, there are some details lost about what happens inside a single bar, but that is the goal of Renko bars.
If you like a more detailed view on price actions, you could consider using smaller Renko boxes, or other representations than Renko. For instance, (tick-)volume bars, or a market profile indicator on a regular chart.
{file}{file}{file}{image} Firstly, I'd like to congratulate all those that have contributed so positively to this and the Renko Chart Creator threads. The input is outstanding and has given me great insight into understanding Renko. I have been working on trend trading strategies on D1 charts for over 2 years now. I have had success using a combination of indicators plus PA. My problem is that I actually find manual trading quite dull to the point where I don't manual trade anymore. I am however constantly developing and exploring possible strategies....
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I am a coder and also a trader specializing in trading the GU currency pair, if you explain your strategy in more detail I will convert it to ea for you. Sorry about my english
hi all, i loved this thread but I see is a bit old, but was hoping someone was still interested to develop something with the renko.
Hello everyone,
I have a simple RENKO Strategy that looks pretty decent to trade manually, but now I will like to automate on Metatrader or even on ctrader
the concept is very simple:
-5 or 10 pip brick size
-when you see 2 green bricks, 1 red and 1 green again Open a BUY
-When you see 2 red, 1 green and 1 red again open a SELL
Close the position when a different color brick appears
