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Renko Block Charts

  • #81
  • Aug 21, 2009 1:43pm Aug 21, 2009 1:43pm
Wups I forgot to attatch charts earler :|

EDIT -

Oh I see Lou, cool thanks.
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  • #82
  • Aug 21, 2009 3:31pm Aug 21, 2009 3:31pm
Quoting Jigsaw
Wups I forgot to attatch charts earler :|

EDIT -

Oh I see Lou, cool thanks.
Yeah, I forgot that this is a Programmers Forum - duh!

Around line 67 of the code change "while(Close[i]......." to "while(High[i] and a few lines later do the same using Low[i]

Recompile and you're good - the history blocks will be as close as is possible to get.

I sent these changes to LV as a suggestion - perhaps he'll incorporate them into the official version.
Old Benjamin was right
  • #83
  • Aug 21, 2009 5:14pm Aug 21, 2009 5:14pm
Just wanted to say a big thanks!!

This is one less thing on my to do list! really...
The winner of the rat race is still a rat.
  • #84
  • Aug 21, 2009 7:28pm Aug 21, 2009 7:28pm
Quoting Lou G
One more thing - on the high/low of historical bars: mention it to LV. We have more or less decided that he will be the sole maintainer of the script (since he wrote it, makes sense). It's a simple change in the historical bar code to use High/Low instead of Close - I've already changed my copy.
...
Around line 67 of the code change "while(Close[i]......." to "while(High[i] and a few lines later do the same using Low[i]
...
then could you show part you changed altogether (not whole script)
and what version you used? ( just to avoid confusion)
thank you
  • #85
  • Edited 7:26pm Aug 22, 2009 7:42am | Edited 7:26pm
Quoting fxxx
then could you show part you changed altogether (not whole script)
and what version you used? ( just to avoid confusion)
thank you
change this to High[i] instead of Close[i]
while(Close[i] >= PrevHigh+BoxPoints) {
PrevHigh = PrevHigh + BoxPoints;
PrevLow = PrevLow + BoxPoints;
PrevOpen = PrevLow;
PrevClose = PrevHigh;
CurVolume = 1;

FileWriteInteger(HstHandle, PrevTime, LONG_VALUE);
FileWriteDouble(HstHandle, PrevOpen, DOUBLE_VALUE);
FileWriteDouble(HstHandle, PrevLow, DOUBLE_VALUE);
FileWriteDouble(HstHandle, PrevHigh, DOUBLE_VALUE);
FileWriteDouble(HstHandle, PrevClose, DOUBLE_VALUE);
LastFPos = FileTell(HstHandle); // Remeber Last pos in file
FileWriteDouble(HstHandle, CurVolume, DOUBLE_VALUE);
PrevTime++;
}

and this to Low[i]
while(Close[i] <= PrevLow-BoxPoints) {

changes made using current official version (post #30) but I changed only my own version - this is not Official until LV says it is.
Old Benjamin was right
  • #86
  • Edited Feb 23, 2012 11:15am Aug 24, 2009 5:06am | Edited Feb 23, 2012 11:15am
This vill most likely be the final ver. as far as I'm concerned. It fixes High/Low in history in what I think is a reasonable way. It STILL hase some update problems, but I have absolutly no clue about what is causing them (the only suspect I have is FileFlush(), if it's not working proparly, but no idea how to fix or even veryfy. So you'r on your own...). Anyway, just give it a minute or two and it vill usaly sort it self out.

I can't edit post #30 any longer (more then 24h old), so the file is in this post.

A "thank you" to all that have helped or come with ideas.

/LV
  • #87
  • Aug 24, 2009 5:39am Aug 24, 2009 5:39am
Thats really nice of you LV...
i just downloaded it... never had any probs with 1.3 even!
Any way thanks for all this
Best Regards

P.S.
1) Can you tell me about the rational/use of Renko Time frame Thing!
i am totally clueless what is time frame setting , when renko has nothing to do with TF!

2) just do have a look at this PA velocity idea !
http://www.forexfactory.com/showthread.php?t=192922
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #88
  • Aug 24, 2009 6:37am Aug 24, 2009 6:37am
Quoting forexsaint
P.S.
1) Can you tell me about the rational/use of Renko Time frame Thing!
i am totally clueless what is time frame setting , when renko has nothing to do with TF!
This doesn't have to do with a conventional time frame. It allows you to choose with offline chart you want build. For example, applying this to GBPUSD with a setting of 3 would build 'GBPUSD,M3'. Some people may set 5 pip blocks to 3 and 10 pip blocks to 4 so that you know what you're looking at.

Hope this helps.


phoenix
  • #89
  • Aug 24, 2009 8:32am Aug 24, 2009 8:32am
Quoting phoenix421
Some people may set 5 pip blocks to 3 and 10 pip blocks to 4 so that you know what you're looking at
So to remember ! ok !
Timeframe as 5 for 5 blocksize seems more better to remember!

I rarely open and close new block size charts again and again..so no worries abt forgetting the number of offline chart

Thanks for informing any way!

P.S. In earlier versions, it used to tel what offline chart to open based on block size on Top left ! But i think Another reason for making this new setting is it wont generate different (many) offlines charts based on different Box Sizes... (cluttering history) This also must be the reason !
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #90
  • Aug 24, 2009 8:42am Aug 24, 2009 8:42am
Quoting forexsaint
So to remember ! ok !
Timeframe as 5 for 5 blocksize seems more better to remember!

I rarely open and close new block size charts again and again..so no worries abt forgetting the number of offline chart

Thanks for informing any way!

P.S. In earlier versions, it used to tel what offline chart to open based on block size on Top left ! But i think Another reason for making this new setting is it wont generate different (many) offlines charts based on different Box Sizes... (cluttering history) This also must be the reason !
Just to clarify...You can't use 5. Any TF that is built into MT4 will be overwritten by the platform. It has to be an unused TF like 2,3,4,6,7 etc.

Thanks again to Ellis and LV for all the hard work. I am now a renko convert. I don't think I will ever have to draw another SR line.

  • #91
  • Aug 24, 2009 8:49am Aug 24, 2009 8:49am
Thanks to Lou and Viking for all the help.

Here is recent chart I have showing how I trade with the
Renko Bricks. Take profit is 5pips plus spread. The line maked
in yellow show areas where take profit can be 10 pips plus spread. My stop loss is 15 pips plus spread.

I would like to ask Lou or Viking if it is possible to add the candle wick to
the renko bricks so one can see the price action. This will really help in determining point of entry of a trade since the price action retraces even after a brick has been formed.

Thanks..
Attached Image (click to enlarge)
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  • #92
  • Aug 24, 2009 8:56am Aug 24, 2009 8:56am
Quoting LastViking
This vill most likely be the final ver. as far as I'm concerned. It fixes High/Low in history in what I think is a reasonable way. It STILL hase some update problems, but I have absolutly no clue about what is causing them (the only suspect I have is FileFlush(), if it's not working proparly, but no idea how to fix or even veryfy. So you'r on your own...). Anyway, just give it a minute or two and it vill usaly sort it self out.

I can't edit post #30 any longer (more then 24h old), so the file is in this post.

A "thank you" to all that have helped...
Thanks again for your efforts, LV. The script will indeed sort itself out as far as the (sometimes) delayed appearance of the current bar. The "sometimes" gives me a clue - this may be caused by the "zero compare" problem as I suggested earlier in the thread (those who don't know what I'm talking about but want to know, look it up on the Metatrader forum - there are discussion/solutions posted there).

I'll work on it later today after trading hours (for me) have ended. If I find a solution I'll post it here - in the meantime, I've had 3 winning trades today, 0 losses so the existing script is viable as far as I'm concerned.

Regards to all,
Lou
Old Benjamin was right
  • #93
  • Edited 9:01am Aug 24, 2009 9:00am | Edited 9:01am
Quoting maxwell-eqtn
Thanks to Lou and Viking for all the help.

Here is recent chart I have showing how I trade with the
Renko Bricks. Take profit is 5pips plus spread. The line maked
in yellow show areas where take profit can be 10 pips plus spread. My stop loss is 15 pips plus spread.

I would like to ask Lou or Viking if it is possible to add the candle wick to
the renko bricks so one can see the price action. This will really help in determining point of entry of a trade since the price action retraces even after a brick has been formed.

Thanks..
I've thought about it but may/may not make the changes needed. I tried enabling the wicks on the commercial version and, in the end, did not find it useful. I'm more a fan of forward testing, especially with Renko which cannot be accurately backtested without real tick data.

The wick is already present on the current bar (or should be) - that's the bar you need to watch
Old Benjamin was right
  • #94
  • Aug 24, 2009 11:52am Aug 24, 2009 11:52am
Quoting Lou G
Attached is the (hopefully) final version of LV's excellent script. It's the most recent version from LV (v1.4) with code added by me to avoid possible comparison errors caused by the dreaded "compare bug".
Thanks To you Too Lou G.. You have done nice addon work in making the script efficient !

Quote
I have not tested it extensively so if something crops up later I'll strap on my thinking cap and look at it again, but this really should work more than well enough to make some pips (when used properly).
Can you share some ideas abt what your methodology to trade renko and on which pair and Session (if any)?

Thanks once again & Best Regards
ForexSaint
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #95
  • Aug 24, 2009 12:41pm Aug 24, 2009 12:41pm
Hey,

have you tried just basic methods. Renko is great for showing the meat of the move. Look at GY today, could have entered @ double top or more conservatively on the break. Take partial profit & move to break even for possible ride down. Or renter on possible 2nd retest of break.

Keep it simple & take the trades offered with sensible mm.


Attached Image (click to enlarge)
Click to Enlarge Name: gy001.gif Size: 18 KB



Regards

Flint
  • #96
  • Aug 24, 2009 12:48pm Aug 24, 2009 12:48pm
thanks very interesting tread
i have a little questionn if you want 50 pips take profit you should set 50pip bricks size is that the general idea?
  • #97
  • Aug 24, 2009 1:03pm Aug 24, 2009 1:03pm
Thanks for the script.

I have been looking for a non commercial one for a while.

One question, what is the difference between this and the commercial version ?

Thanks again
R.
  • #98
  • Aug 24, 2009 1:14pm Aug 24, 2009 1:14pm
Quoting FlintFX
Look at GY today, could have entered @ double top or more conservatively on the break. Take partial profit & move to break even for possible ride down. Or renter on possible 2nd retest of break.
Keep it simple & take the trades offered with sensible mm.
Thanks for replying flint...i forgot to reply to your old charts too.. thanks for them too !
looks like you are trading them all live now.

Any way some questions... Because any system without rules may/may not work !
- Do you only trade trenline breaks
- Any place for pivots in use?
- How do you time an entry ? because renko bars are not that easy to enter as the chart shows
- See Chart attached !
Attached Image (click to enlarge)
Click to Enlarge Name: gy001.gif Size: 20 KB
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #99
  • Edited 5:03pm Aug 24, 2009 5:02pm | Edited 5:03pm
Quoting rina5392
Thanks for the script.

I have been looking for a non commercial one for a while.

One question, what is the difference between this and the commercial version ?

Thanks again
R.
The commercial version has 2 more features and costs USD30 or euro 30 or GPB30 (so I would choose to pay in USD right now):
1. Extern parameter to enable you to show wicks on the blocks - useful for visual backtesting. Note that it is difficult to use Strategytester on an offline chart, so 'forward' backtesting is out of the question for most people.

2. Extern parameter to low you to always start brick at a specific level e.g 00 . This means that when you restart, the renko bricks show the same pattern. Otherwise you have a 9 out of 10 chance (4 digit broker) that they may not - or a 99 out of 100 chance for a 5 digit broker.

The versions here are useful in helping you decide if you really want Renko or not. If you do then imho the commercial version is the best - has full support (it started out without the 2 features above and the coder has added them, notiifed all customer by email and allowed free extra download of updated version). Google 'Renko bars' and 'MQL' to find his site.
  • #100
  • Aug 24, 2009 11:05pm Aug 24, 2009 11:05pm
Quoting Lou G
The script in post #94 has been updated. I believe I have corrected the problem of delay in showing the current bar.

Good trading...

All I can say is WOW !!

Thanks Lou. You and Viking are great. !!!
Attached Image (click to enlarge)
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