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Renko Trading Discussion

  • #1,961
  • Sep 28, 2022 1:50am Sep 28, 2022 1:50am
Quoting Brixen
{quote} Hi David, a quick salute and all the best for your DAX trades, as today!
Hi Brixen, I hope all is well with you - the DAX continues to deliver despite the crazy world! I am sure you are milking the market with your usual high level skills! best wishes to you, Dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #1,962
  • Sep 28, 2022 1:52am Sep 28, 2022 1:52am
Quoting Davidh061
{quote} Hi Brixen, I hope all is well with you - the DAX continues to deliver despite the crazy world! I am sure you are milking the market with your usual high level skills! best wishes to you, Dave
Not bad here, not bad. Volatility is pure oxygen for a day trader, as you perfectly know.
Thanks for your words. Again alla the best for you...and for me
I call upon my father's spirit , watching over me
  • #1,963
  • Sep 28, 2022 5:24am Sep 28, 2022 5:24am
DAX long +75 pips, 20 pip bricks:
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Everything should be made as simple as possible, but no simpler - Einstein
  • #1,964
  • Sep 28, 2022 6:35am Sep 28, 2022 6:35am
Hello, can you please tell which renko you are using? What's their name? Where can I find them?
Thanks a lot for the tip.
  • #1,965
  • Sep 28, 2022 7:03am Sep 28, 2022 7:03am
Quoting FX88FX
Hello, can you please tell which renko you are using? What's their name? Where can I find them? Thanks a lot for the tip.
Hi! It is this EA here:

https://www.forexfactory.com/thread/...art-creator-ea
Everything should be made as simple as possible, but no simpler - Einstein
  • #1,966
  • Sep 29, 2022 8:53am Sep 29, 2022 8:53am
Version 2.00 of MathTrader7_RenkoStreetEA has been released (I updated Post 1).
In this version I have added a small panel to show the status of the trades. It has been compiled with MT4 build 1360.
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Trading is the hardest way to make easy money...
  • #1,967
  • Sep 29, 2022 9:15am Sep 29, 2022 9:15am
Quoting MathTrader7
Version 2.00 of MathTrader7_RenkoStreetEA has been released (I updated Post 1). In this version I have added a small panel to show the status of the trades. It has been compiled with MT4 build 1360. {image}
Thank you very much.
Your support will help me a lot. May the power, green pip, be with you!
Thanks!
  • #1,968
  • Sep 29, 2022 9:18am Sep 29, 2022 9:18am
Quoting Davidh061
{quote} Hi! It is this EA here: https://www.forexfactory.com/thread/...art-creator-ea
Thank you very much.
I am downloading EA renko. I've been looking for this. And now I have found.
Big thanks!!
  • #1,969
  • Sep 30, 2022 1:48am Sep 30, 2022 1:48am
Quoting FX88FX
{quote} Thank you very much. I am downloading EA renko. I've been looking for this. And now I have found. Big thanks!!
No problem, I hope you find it useful. Cheers, dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #1,970
  • Sep 30, 2022 3:32am Sep 30, 2022 3:32am
Version 2.03 of MathTrader7_RenkoStreetEA has been released (I updated Post 1).
In this version I fixed a bug with money management algorithm, simplified trailing stop loss settings, and embedded RenkoStreetChannel indicator into the EA.
I am attaching the RenkoStreetChannel indicator to this post as you need it for visualization only (The EA uses the default input settings of the indicator).
Attached File(s)
File Type: ex4 RenkoStreetChannel.ex4   9 KB | 882 downloads

I have also did some backtest with Renko bars (EURUSD 10 pips) generated from real ticks.

With ADX filter DISABLED, 1% balance risk per trade, trailing stop enabled, stoploss = 3 bricks, takeprofit = 6 bricks
Result: More trades, Higher profit, higher drawdown (profit factor 1.36)
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With ADX filter ENABLED, 1% balance risk per trade, trailing stop enabled, stoploss = 3 bricks, takeprofit = 6 bricks
Result: Less trades, Lower profit, Lower drawdown (profit factor 1.97)
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Trading is the hardest way to make easy money...
  • #1,971
  • Oct 3, 2022 7:29pm Oct 3, 2022 7:29pm
Figured I'd start contributing some of my trade ideas.

US30: +1023 points -- TRADE IDEA: price tested previous area of support and showed rejection. That first sell was an accident.
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"What if I told you that this isn't the real life..."
  • #1,972
  • Oct 4, 2022 1:09am Oct 4, 2022 1:09am
Gold running position, Asian Session
Structural play. Will update.
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"What if I told you that this isn't the real life..."
  • #1,973
  • Oct 4, 2022 1:49am Oct 4, 2022 1:49am
Quoting paradiselee
Figured I'd start contributing some of my trade ideas. US30: +1023 points -- TRADE IDEA: price tested previous area of support and showed rejection. That first sell was an accident. {image}
What size bricks are you using?
Everything should be made as simple as possible, but no simpler - Einstein
  • #1,974
  • Oct 4, 2022 2:48am Oct 4, 2022 2:48am
Quoting Davidh061
{quote} What size bricks are you using?
Sure thing. These have been working well for me.

US30 - 1,000 points - M4
XAU - 75 pips (7.5 pips) - M4
"What if I told you that this isn't the real life..."
  • #1,975
  • Oct 4, 2022 2:56am Oct 4, 2022 2:56am
Quoting paradiselee
{quote} Sure thing. These have been working well for me. US30 - 1,000 points - M4 XAU - 75 pips (7.5 pips) - M4
I can understand the size of bricks for US30, it can move so much. DAX doesn't need quite so large bricks, although I've recently increased my brick size to 20 pips on the DAX to help filter out some of the noise. Work in progress but seems to be working OK, although stopped out at BE this morning. I think Renko is excellent for identifying S/R rejection, I use this type of pull back all the time. Cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #1,976
  • Edited 11:40am Oct 4, 2022 3:12am | Edited 11:40am
Gold Update: Added a few more positions once I saw momentum still heavy on the upside
Closed out once price hit HTF resistance
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"What if I told you that this isn't the real life..."
  • #1,977
  • Oct 4, 2022 3:18am Oct 4, 2022 3:18am
Quoting Davidh061
{quote} I can understand the size of bricks for US30, it can move so much. DAX doesn't need quite so large bricks, although I've recently increased my brick size to 20 pips on the DAX to help filter out some of the noise. Work in progress but seems to be working OK, although stopped out at BE this morning. I think Renko is excellent for identifying S/R rejection, I use this type of pull back all the time. Cheers, Dave

For sure. Even with the brick size I use for US30, I still consider it to be small enough for sniper entries.
Renko is definitely helpful when it comes to identifying clear S/R zones. I used to trade smart money but now i just stick to simple sup/res and use sup/dem every now and then.
"What if I told you that this isn't the real life..."
  • #1,978
  • Oct 5, 2022 12:54am Oct 5, 2022 12:54am
hello how are you, I haven't published for a long time because after a long time I try to create an EA that can understand its operation at last I have something that suits my expectations.

It is a simple EA that opens operations every time a renko block is formed, if the block is bullish, a purchase operation is opened and if it is bearish, a sale operation is opened, you can put a limit on open operations. The EA will close trades when the total sum reaches an expected profit that you can modify.

The EA has the option to stop working when it reaches an expected profit or when the total established equity is met even if there are open trades.

It can also stop working when the equity is equal to or below the amount that is established on the total balance.

I hope I have been able to explain the function of these EAs that work as one, if it seems good to Mathematics I can share it to draw our own conclusions as a Renko community.

Greetings to all

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  • #1,979
  • Oct 5, 2022 1:07am Oct 5, 2022 1:07am
Quoting JaimeAlejan
hello how are you, I haven't published for a long time because after a long time I try to create an EA that can understand its operation at last I have something that suits my expectations. It is a simple EA that opens operations every time a renko block is formed, if the block is bullish, a purchase operation is opened and if it is bearish, a sale operation is opened, you can put a limit on open operations. The EA will close trades when the total sum reaches an expected profit that you can modify. The EA has the option to stop working when it reaches...
===========
Hi Jaime,
Thank you for sharing your EA results with us. A pity that you don't share it for testing purposes, but that is your prerogative.
Have you considered adding an MVA - whether EMA or SMMA - to rule out counter trades in a trending market? Ideally, it should be in the form of a Trend Envelope which gives you a high/low configuration and is far better than a plain MVA. You could also use an MVA with MEDIAN close rather than just on CLOSE, but my experience shows that the Tr.Env. is superior to any other option.
Continued success to you and looking forward to hearing your opinion.
Hercs.
Hercs
  • #1,980
  • Oct 5, 2022 12:40pm Oct 5, 2022 12:40pm
US30 - I caught the whole move up by paying attention to regular bar chart on the 1H, 30M, 5M and reading price action (along with order blocks and liquidity zones) in combination with following structure on the Renko Chart. Best move I've caught so far using this method I've been practicing.

Had one loss at the bottom before the move up. Held this for 4 hours.
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"What if I told you that this isn't the real life..."
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