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Renko Block Charts

  • #41
  • Aug 20, 2009 6:41pm Aug 20, 2009 6:41pm
subscribed!
Close your eyes when you feel you are going under.
  • #42
  • Aug 20, 2009 7:17pm Aug 20, 2009 7:17pm
Thanks again for this excellent work. Script is functioning perfectly. I waited through the opening of two new Renko bars and all is as it should be.

Regards,
Lou
Old Benjamin was right
  • #43
  • Aug 20, 2009 7:18pm Aug 20, 2009 7:18pm
Quoting FlintFX
Here you go Forexsaint,

It is possible that everyone can look at the same thing but each individual can see something different. Renko is a clean way to re-represent the same information. Just as line graph, P&F & range bars help some people to see when they look, all have their own advantages & disadvantages over vanilla bars & candles................
Thanks flint for taking your time!
I can see some latest charts there!
1)Were they al live traded by you?
2) You use the same settings of 10pips trading cable everytime ?(the way u trade as u pointed out in your post)
3) Do you use Volume as incorporated by LastViKing is some way in trades?
4) Do you have any Specific sessions to trade it? Bcoz zig-Zag can be more during non moving/rangebound markets..so better to filter?
5) What other pairs u trade ? if do so? using this!

Regards
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #44
  • Aug 20, 2009 7:23pm Aug 20, 2009 7:23pm
Quoting Lou G
Script is functioning perfectly. I waited through the opening of two new Renko bars and all is as it should be.
Hi lou...
Can you kindly clarify in one post...what was the Bug in Script posted on Page 1 (Post 4) by Viking and the New Script at Page 3 (Post 31)?
Actually i am using the old one (Post 4)only and treid various Box Sizes...never had any problem! (or i didn't detect?)

Regards
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #45
  • Edited 10:47pm Aug 20, 2009 10:45pm | Edited 10:47pm
Quoting forexsaint
Hi lou...
Can you kindly clarify in one post...what was the Bug in Script posted on Page 1 (Post 4) by Viking and the New Script at Page 3 (Post 31)?
Actually i am using the old one (Post 4)only and treid various Box Sizes...never had any problem! (or i didn't detect?)

Regards
Not a bug, an enhancement I suggested to him and he got it working in exceptional time.

Earlier version shows Renko bars AFTER they have formed.

New version shows Renko bars after they have formed AND the future bar as it is being created. Much more useful information.

LastViking has solved the problem and created an excellent tool so let's thank him profusely and enjoy the results.
Old Benjamin was right
  • #46
  • Aug 20, 2009 11:50pm Aug 20, 2009 11:50pm
Quoting Lou G
Earlier version shows Renko bars AFTER they have formed.
New version shows Renko bars after they have formed AND the future bar as it is being created. Much more useful information.
ah..nice work... thanks viking..just tried it!

But i m still awaitin response from LastvIking regarding Volume Setting and now there is TimeFrame setting too?

1) VolumeInHistory : Does True means the new script chart will show Volume (as per our broker) that has gone into 1 Constant range Box/Bar formation?

2) RenkoTimeFrame ..Kindly explain this?
Since these charts are not dependent on time
and
only form when
-market covers next 1*BoxSizepip movement from last Box Close,in same direction
or
-market covers next 2*BoxSizepip movement from last Box Close, in opposite direction
(KINDLY CORRECT me if i am wrong ?)

SO what role this settings has?

An example n detailed response will be more thankful
Best regards
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #47
  • Aug 21, 2009 12:12am Aug 21, 2009 12:12am
G'day all
Sorry if this has been mentioned before or is dumb in some way but when I go to create my offline chart with some pairs there might be only 16 or so bars in history so resultant renko chart is way over on the left. Is there anyway to fix this?
Thanks for help
We are all One. Be present. Be the Observer
  • #48
  • Aug 21, 2009 12:22am Aug 21, 2009 12:22am
Quoting Iamfx
G'day all
Sorry if this has been mentioned before or is dumb in some way but when I go to create my offline chart with some pairs there might be only 16 or so bars in history so resultant renko chart is way over on the left. Is there anyway to fix this?
Thanks for help
Hello

-Press F2 or Goto Tools>History Center
-Goto The pair you want
-Double click it
-Select the time frame you want (use M1 only as advised)
-Click Download on Right
This will Download historical Data for that time frame and pair

-Then Open M1 TF for that pair,
- Drop latest Renko Script V1.1(post31) by Lastviking (Its more Resource Intensive that First one V1 (post4))
& then open offline Chart (the one it says on Top Left after Dropping )

Also..press Control+O or Goto Tools>options>Charts>maximum bars in Chart shoudl be a big number.. (say 30000 ..or as u like)

That will work, with more Renko bars.
hope that helps
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #49
  • Aug 21, 2009 1:37am Aug 21, 2009 1:37am
Hmm i can't attach these Renko indy into a live chart, it got "removed" immediately right after it shows "loaded successfully" in the Experts tab

In the Journal tab,it shows "... is not custom indicator and will be removed" O_o
is this a script instead of indicator?

Edit: i've put these renko in script folder, and attach them to a live chart(seems to be successfull), but i can't see anything
  • #50
  • Aug 21, 2009 4:09am Aug 21, 2009 4:09am
Quoting forexsaint
ah..nice work... thanks viking..just tried it!

But i m still awaitin response from LastvIking regarding Volume Setting and now there is TimeFrame setting too?

1) VolumeInHistory : Does True means the new script chart will show Volume (as per our broker) that has gone into 1 Constant range Box/Bar formation?
More or less, it makes an aptempt to callculate the volume for the bars in the history. But it may be a little of at times. (It's just the usal tick volume as it's al we can get in mt4). For the live bars volume is always on. (Press F8 and select "show Volumes" to se it.)

Quoting forexsaint
2) RenkoTimeFrame ..Kindly explain this?
It's just the time frame to use for the offline Renko chart If =2 then M2 will be used, if =42 then M42 will be used etc etc.

/Best LV
  • #51
  • Edited 12:23pm Aug 21, 2009 5:19am | Edited 12:23pm
Quoting AdamN
Hmm i can't attach these Renko indy into a live chart, it got "removed" immediately right after it shows "loaded successfully" in the Experts tab

In the Journal tab,it shows "... is not custom indicator and will be removed" O_o
is this a script instead of indicator?

Edit: i've put these renko in script folder, and attach them to a live chart(seems to be successfull), but i can't see anything
"EDIT " is ok...yes its a SCRIPT not a INDI/EA
(Though it can be used as d main poster said...dont know what all settings shd be used...but i have some stuff/settings in mind ...so really looking forward with some1 who can write an EA)

PROCEDURE
--Copy the Script Posted by LastViking in Post 30 to
C: Drive (or your OS's Boot Drive)> Program Files > MT4 Broker Directory> Experts >Scripts Folder
--Open MT4 afresh
--Open a pair (which u want to track/trade whatever) in 1min TF
--Drop that Script onto it from Navigator panel >Scripts menu
-- Check "Allow DLL imports" and "Allow import of external experts" boxes & UnCheck "Confirm Dll Function Calls"
--Select The 3 settings as you like -
. Box Size : Renko Bar Size in Pips
. RenkoTimeFrame: See Above post
. VolumeinHistory : See Above post & click ok .
--Open the offline Chart, the one it says to open, on Top left of chart (after dragging it)
-- You will see renko bars

Hope that helps Adam...

P.S. Shd i sue VPland people to not havin that discount promo now, when i wanted to signup
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #52
  • Aug 21, 2009 5:35am Aug 21, 2009 5:35am
Why Half Empty Half Full?

Everyone can look at the same thing & each see something different. The only reality we experience is unique to each of us. A glass with 50% of water will look half empty to some, or half full to others. I am saying Renko bars are not some magic voodoo way that guarantees success, but a different way to represent the same underlying information that each of us has at our disposal to make our own trading decisions.


1)Were they all live traded by you?

No, only the last one. Only got the indy last thursday. I find the data from demo to be too different from live to bother testing accurately. Better to keep live & reduce position size. Had tried various other Renko indys in the past & concluded no good. Tried EllisEdi's but found LastViking one worked better for me. I tried to show all the trades I took on fri,mon & tue but all worked out to be widescreen & wanted to use examples that fitted the 800x600 size. So went back & marked up examples for you.


2) You use the same settings of 10pips trading cable everytime ?(the way u trade as u pointed out in your post)

At present yes, 10p size with cable every time the way I showed in examples - support & resistance. How did I choose 10p you should be asking. By eliminating every other size through trial & error. That is my whole process of trading. Just get on & try a million ways & discover your own niche. What works for one probably will not work for another. We each have our own criteria & agendas. Our perception of reality is unique to each of us individually.

3) Do you use Volume as incorporated by LastViKing is some way in trades?

No. I am yet to be convinced of its worth is Spot retail forex. In Futures yes.

4) Do you have any Specific sessions to trade it? Bcoz zig-Zag can be more during non moving/rangebound markets..so better to filter?

Yes, late Asian & London I prefer. But I do not find that Renko charts work better for these sessions. I see momentum & consolidation, these occur at any time in the trading week, more influenced by news announcements.

5) What other pairs u trade ? if do so? using this!

GBP crosses. Lol, (repeat) only got the indy last thurs. Used Constant Range Bars before that & vanila bar charts. I use fib extensions for profit targets along side measured moves & also channels alongside horizontal S&R.

The best thing anyone can do to learn is play. Lots of time spent trying all the different settings & combinations. Answering all the ''what if?'' questions that come into your head. Go ahead & try them all out. The wealth of experience you gain is massive & you end up in lots of places by accident that are better than you could ever of dreamt. Lots of dead ends & false hopes sure, but its all about the discovery.

Why not show some of your chart examples with specific questions or findings that work or don't work for you.

All the best

Flint
  • #53
  • Aug 21, 2009 6:02am Aug 21, 2009 6:02am
As mentioned before, if you want your charts to work on launch of MT4 then use script as an expert. Simple put it in your experts folder & make sure allow dll imports in tools> options> expert advisor is selected. Turn on expert advisor (top right of menu), apply to 1m chart & open offline the chart to view. Save layout in profile & all will work between changing profiles & relaunching the app. Just make sure ea button is selected.

This only needs to be done once each for a different chart (currency or settings).

Flint
  • #54
  • Aug 21, 2009 6:11am Aug 21, 2009 6:11am
If anyone has a broker that uses odd name format for pairs this script will not run.

My broker uses a double dot after the pair name to distinguish between 4 and 5 decimal data. (5 decimal data is EURUSD..) Since the "fake" history file cannot be written that way an error is generated but not handled.

There is a fix and you can do this yourself or perhaps the authors can just add it to their scripts. Because it is universal.

The fix:
in MetaEditor do a search and replace (ctrl-h) of Symbol() with StringSubstr(Symbol(),0,6). Compile it and rerun.

in LastVikings script there are two instances.
  • #55
  • Aug 21, 2009 6:47am Aug 21, 2009 6:47am
Quoting Tigertron
If anyone has a broker that uses odd name format for pairs this script will not run.

My broker uses a double dot after the pair name to distinguish between 4 and 5 decimal data. (5 decimal data is EURUSD..) Since the "fake" history file cannot be written that way an error is generated but not handled.

There is a fix and you can do this yourself or perhaps the authors can just add it to their scripts. Because it is universal.

The fix:
in MetaEditor do a search and replace (ctrl-h) of Symbol() with StringSubstr(Symbol(),0,6). Compile it and rerun.

in...
Done! (file in post #31)
  • #56
  • Edited 7:01am Aug 21, 2009 7:01am | Edited 7:01am
Hi LV,

I have the script set up to run as an EA - nice, don't have to manually place it on the chart.

One small thing - current bar does not always appear right away. I've been watching it and it seems to be related to the calculation of the close (you know the section of code I mean). I haven't been able to see a pattern yet but I'll keep looking. Not a big problem - the current bar always shows eventually.

Regards,
Lou
Old Benjamin was right
  • #57
  • Edited 7:18am Aug 21, 2009 7:15am | Edited 7:18am
All non-techies may skip this post

I haven't tried it yet, but it may be necessary to deal with the x386/floating point/zero comparison bug here - all computer languages are impacted by this but MQL does not deal with it as well as others.

Instead of :

if ( a >= b)

you may need to do;

if (NormalizeDouble(a,Digits) > NormalizeDouble(b,Digits) ||
CompareDoubles(NormalizeDouble(a,Digits),NormalizeDouble(b,Digits))

I had a similar problem last year while writing a point&figure indi - I kept getting incorrect results until I changed my code as above.

There is an article about this problem at mt4 codebase...

I'll try this later when I have time - busy day today.

Best,
Lou
Old Benjamin was right
  • #58
  • Aug 21, 2009 8:17am Aug 21, 2009 8:17am
hi

can someone quickly help me here ..

this renko chart is working perfectly on m2 timeframe with default settings on RenkoLiveChart_v1.3 (ie. i put the script on m1 and then open the m2 and its got live renko on it) ... however, i cant seem to get it working on a m5 timeframe?

what am i doing wrong? ive put the script on m1 and then changed the "RenkoTimeFrame" to 5 and "RefreshRate" is still 2 - and then i open the offline M5 chart and its still candlesticks...

Is this only for m2?

Thanks!
  • #59
  • Aug 21, 2009 8:17am Aug 21, 2009 8:17am
Quoting forexsaint
"EDIT " is ok...yes its a SCRIPT not a INDI/EA
(Though it can be used as d main poster said...dont know what all settings shd be used...but i have some stuff/settings in mind ...so really looking forward with some1 who can write an EA)
Well currently i'm working on an EA for someone which is based on RENKO indicator provide by him, but the indicator's chart in the subwindow doesn't shift along with the main chart when a new bar formed(making it left behind), which make me difficult to debug the EA if i can't compare the bar vertically.


Quoting forexsaint
PROCEDURE
--Copy the Script Posted by LastViking in Post 31 to
C: Drive (or your OS's Boot Drive)> Program Files > MT4 Broker Directory> Experts >Scripts Folder
--Open MT4 afresh
--Open a pair (which u want to track/trade whatever) in 1min TF
--Drop that Script onto it from Navigator panel >Scripts menu
[b]--Select The 3 settings...
Yes, it does help, now i can see the renko chart, thanx forexsaint


Quoting forexsaint
P.S. Shd i sue VPland people to not havin that discount promo now, when i wanted to signup
LOL you can try it
PS: I wonder if the promo coupon code still works, i'll try it the next time i need a VPS ^_^
Btw for a free vps you can check this thread: http://www.forexfactory.com/showthread.php?t=181223
  • #60
  • Edited 8:21am Aug 21, 2009 8:18am | Edited 8:21am
For those who wish to learn how to trade Renko, there is an excellent thread in the Trading Systems forum called C4 Scalping. The thread was started by Edgetrader who is sincerely interested in teaching others how to TRADE (as opposed to putting 20 different indi's on a chart).

The thread is long and needs to be read from the beginning (can be done in a weekend, though) in order to get up to speed. The part that uses Renko starts at page 155 (although there is info about it in post #1).

Most of those on the thread using Renko have a commercial version (cost 30 Euro) but IMHO LastViking's version is a bit better - your choice.
Old Benjamin was right
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