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Renko Block Charts

  • #261
  • Sep 21, 2009 9:11am Sep 21, 2009 9:11am
Quoting Nagpada
" The user variable "Threshold" is used to filter the maximum time (in minutes) you wish to allow - anything longer will be limited to this number. I find it helpful to set Threshold to 30, add a maximum of 31 for the indicator window and add levels at 10 and 20 minutes but use whatever floats your boat."


Could you please elaborate upon the above procedure. The indicator is in the expert-- indicator folder. Thanks
Edit the indi (if it's already running) - on the "common" tab check "fixed maximum" and enter 31 in the box. On the "levels" tab click "add" and add whatever levels appeal to you (I like 10 and 20). Save all this as a template and you won't have to repeat the above procedure unless you want to change the values.

Same procedure if you are adding the indi to the chart for the first time.

See post #229 to see what this will look like.
Old Benjamin was right
  • #262
  • Sep 21, 2009 9:28am Sep 21, 2009 9:28am
Quoting toddanderson
I just moved over to FXpro and i am not getting m2 as a selection im my
offline charts. I have the Renko scripts running on 1m and set for m2 time frame
I have used the scripts a lot so i know the setting, but i must be missing something
Are you seeing the following message in the upper left corner of the M1 chart?

RenkoLiveChart(yourboxsize): Open Offline (yoursymbol).M2 To View Chart

where yourboxsize and yoursymbol are the box size and currency pair you have chosen.

You did not mention which release of the code you are using - some are scripts, some are indicators and some are EA's so you need to install them differently but all will generate the above message when the offline chart is available.

Not to be too picky, but keep in mind that M2 is not a timeframe, just a label for the chart. Renko blocks can take anywhere from seconds to hours to complete bcause they are not time-related.
Old Benjamin was right
  • #263
  • Sep 21, 2009 9:51am Sep 21, 2009 9:51am
I got things going, I beleive it was my Allow DLL was not checked,
I always had that on in my defaults of metatrader, when i switched
to a new plat form DLL is not check as default options

Thanks again


Quoting Lou G
Are you seeing the following message in the upper left corner of the M1 chart?

RenkoLiveChart(yourboxsize): Open Offline (yoursymbol).M2 To View Chart

where yourboxsize and yoursymbol are the box size and currency pair you have chosen.

You did not mention which release of the code you are using - some are scripts, some are indicators and some are EA's so you need to install them differently but all will generate the above message when the offline chart is available.

Not to be too picky, but keep in mind that M2 is not a timeframe, just...
  • #264
  • Sep 21, 2009 10:55am Sep 21, 2009 10:55am
Quoting Lou G
Are you seeing the following message in the upper left corner of the M1 chart?

RenkoLiveChart(yourboxsize): Open Offline (yoursymbol).M2 To View Chart

where yourboxsize and yoursymbol are the box size and currency pair you have chosen.

You did not mention which release of the code you are using - some are scripts, some are indicators and some are EA's so you need to install them differently but all will generate the above message when the offline chart is available.

Not to be too picky, but keep in mind that M2 is not a timeframe,...

Sorry, but there is nothing about boxsize on my chart
  • #265
  • Sep 21, 2009 11:13am Sep 21, 2009 11:13am
Quoting Lou G
Edit the indi (if it's already running) - on the "common" tab check "fixed maximum" and enter 31 in the box. On the "levels" tab click "add" and add whatever levels appeal to you (I like 10 and 20). Save all this as a template and you won't have to repeat the above procedure unless you want to change the values.

Same procedure if you are adding the indi to the chart for the first time.

See post #229 to see what this will look like.

Since this indi runs in the main window the " custom indicator " edit window cannot be accessed. The only window that can be accessed is the " Properties window " and this window does not have the tabs nor edit boxes that you mentioned.

Futhermore the image on post # 229 that you mentioned contains tails. There are no tails being generated on my chart.

Could you elaborate upon what role the edits that you mention play.

Thanks
  • #266
  • Sep 21, 2009 3:01pm Sep 21, 2009 3:01pm
Quoting Nagpada
Since this indi runs in the main window the " custom indicator " edit window cannot be accessed. The only window that can be accessed is the " Properties window " and this window does not have the tabs nor edit boxes that you mentioned.

Futhermore the image on post # 229 that you mentioned contains tails. There are no tails being generated on my chart.

Could you elaborate upon what role the edits that you mention play.

Thanks
There are two downloadable items in post #225 (the appearance of which is shown in post #229).

1) RenkoLiveChart_v3.0 is an EA, not an indicator.

2) RenkoAM_v2.0 is an indicator that runs in a separate window.

There are instructions in post #225 re: how to install both the EA and the indicator.

When you install the EA you will see an option on the inputs tab called "ShowWicks" - if this is set to "true" wicks will show on the Renko blocks. If set to "false", no wicks will show.

The edits I mention apply to the settings for the indicator.
Old Benjamin was right
  • #267
  • Edited 3:24pm Sep 21, 2009 3:23pm | Edited 3:24pm
After you have installed RenkoLiveChart_v3.0 this is how your M1 chart should look - note the EA-generated message in the upper left-hand corner telling you that your Renko M2 offline chart has been created. When you see this message appear click file, then click offline charts, select your M2 chart and click open (upper right corner of the offline charts box).
Attached Image (click to enlarge)
Click to Enlarge Name: m1chart.gif Size: 17 KB
Old Benjamin was right
  • #268
  • Sep 22, 2009 1:15am Sep 22, 2009 1:15am
Hold on a minute. I have in all post been talking about an indicator. Indicator in version 2.0 from what I garnered in this thread. V3.0 is an EA and has not entered into my inquiries at all.
Seems that some confusion has crept in.
  • #269
  • Sep 22, 2009 7:19am Sep 22, 2009 7:19am
Quoting Nagpada
Hold on a minute. I have in all post been talking about an indicator. Indicator in version 2.0 from what I garnered in this thread. V3.0 is an EA and has not entered into my inquiries at all.
Seems that some confusion has crept in.

Please note - After placing the indicator in the proper folder it needs to be compiled. The easiest way to do this is to shutdown then restart MT4


Directions for Installing as an Indicator :

1. Place the mq4 code in the Experts/Indicator directory.

2. Make sure to check the "Allow DLL imports" and "Allow import of external experts" boxes (both of them) are checked. they are under the Saftey section of the Common tab

3. Drop the script on a live chart, preferably the 1 minute chart of any instrument. The comment will tell you which offline chart to open.


To view the Renko Chart :

1. To open offline chart : click File(from menu) >Open Offline and pick the chart you want. (see step 3 above).


What is the name of the indicator you are trying to get to work? There are a few different ones in this thread.

If you are using "RenkoLiveChart_v2.1.mq4 from here ...
http://www.forexfactory.com/showpost...&postcount=191

These directions should work. It was the last Renko chart maker as an indicator.




copied from first post ...
EllisEdi Moving on to my next trade ...
  • #270
  • Edited 8:11am Sep 22, 2009 7:55am | Edited 8:11am
Quoting Nagpada
Hold on a minute. I have in all post been talking about an indicator. Indicator in version 2.0 from what I garnered in this thread. V3.0 is an EA and has not entered into my inquiries at all.
Seems that some confusion has crept in.
I'm thoroughly confused - please identify the indicator you are referring to by its complete name (rather than just a version number).

RenkoLiveChart_v2.0 is indeed an indicator. If you put it on a M1 chart it will create an offline Renko chart. Version 2.1 is better - it has a fix to the bar date/time.

RenkoAM_v2.0 is also an indicator but it does not create an offline chart - it runs in a separate window and is meant to provide additional information about the offline chart on which it is used. As has been explained, it will only function correctly when used in conjunction with RenkoLiveChart_V2.1 or version 3.0.

You asked about wicks (tails). No indicator that has been posted here creates wicks. RenkoLiveChart_v3.0 is an EA and is the only Renko chart creator which includes optional wicks.
Old Benjamin was right
  • #271
  • Sep 22, 2009 11:06am Sep 22, 2009 11:06am
Quoting Lou G
I'm thoroughly confused - please identify the indicator you are referring to by its complete name (rather than just a version number).

RenkoLiveChart_v2.0 is indeed an indicator. If you put it on a M1 chart it will create an offline Renko chart. Version 2.1 is better - it has a fix to the bar date/time.

RenkoAM_v2.0 is also an indicator but it does not create an offline chart - it runs in a separate window and is meant to provide additional information about the offline chart on which it is used. As has been explained, it will only function...

The indicator that I was initially referencing was RenkoLiveChart_v2.0 which is installed in the experts/ indicator folder.

I referenced wicks and tails because you pointed me to a posting of yours in one of your replies and especially to your chart. My initial posting is what,s to be referenced with the added clarification of the identified index of this posting
  • #272
  • Edited 11:53am Sep 22, 2009 11:46am | Edited 11:53am
Quoting Nagpada
The indicator that I was initially referencing was RenkoLiveChart_v2.0 which is installed in the experts/ indicator folder.

I referenced wicks and tails because you pointed me to a posting of yours in one of your replies and especially to your chart. My initial posting is what,s to be referenced with the added clarification of the identified index of this posting
Okay - go to tools/options/expert advisors in mt4 and check every box EXCEPT "ask manual confirmation" and "confirm dll function calls".

Drag RenkoLiveChart_v2.0 from Navigator onto a M1 chart of your favorite currency pair and set the BoxSize parameter to the size you want, almost immediately a message will appear in the upper left corner of the chart telling you your offline chart has been created.

Then click file, offline charts, select your M2 chart and click open in the upper right corner of the window. That's all there is to it. As long as both the M1 & M2 charts are left open, the Renko bricks will update as new ticks arrive.

The posting you refer to that shows wicks was created using RenkoLiveChart_v3.0 - no earlier version creates wicks.
Old Benjamin was right
  • #273
  • Sep 22, 2009 1:36pm Sep 22, 2009 1:36pm
Thank you for your reply. Have done as suggested by you. Have opened charts and will observe.


1. One thing that I have noticed. I have the same pair opened as a Renko and as a bar chart and running side by side. The tick price ( grey line that indicate the present price level ) shows a different value on both charts. On the bar chart it is changing tick by tick but on the Renko it does not. Is the the way it should be ?

2. What additional indicators are you using to confirm you trades in order to make a trading system ? Reference the link that I posted earlier to garner what I mean. Could you post your screen.

Thanks.
  • #274
  • Sep 22, 2009 2:26pm Sep 22, 2009 2:26pm
Quoting Nagpada
Thank you for your reply. Have done as suggested by you. Have opened charts and will observe.


1. One thing that I have noticed. I have the same pair opened as a Renko and as a bar chart and running side by side. The tick price ( grey line that indicate the present price level ) shows a different value on both charts. On the bar chart it is changing tick by tick but on the Renko it does not. Is the the way it should be ?

2. What additional indicators are you using to confirm you trades in order to make a trading system ? Reference the link...
Price should be changing - I don't know why it is not. I don't use that version of the code but as far as I know, it does work.

I have not yet developed a trading strategy for this indicator.
Old Benjamin was right
  • #275
  • Sep 22, 2009 2:29pm Sep 22, 2009 2:29pm
Quoting Lou G
Price should be changing - I don't know why it is not. I don't use that version of the code but as far as I know, it does work.

I just now set up a chart using the same indicator - mine is updating as price changes...

You didn't by any chance close the M1 chart with the indicator on it, did you?
Old Benjamin was right
  • #276
  • Sep 22, 2009 2:41pm Sep 22, 2009 2:41pm
Quoting Lou G
I just now set up a chart using the same indicator - mine is updating as price changes...

You didn't by any chance close the M1 chart with the indicator on it, did you?

I opened three different block size charts off the same M1 chart, but the M1 chart is also running.

Is any one using this chrat type as part of a trading system ?
  • #277
  • Sep 22, 2009 3:02pm Sep 22, 2009 3:02pm
Quoting Nagpada
I opened three different block size charts off the same M1 chart, but the M1 chart is also running.

Is any one using this chrat type as part of a trading system ?
I don't think you can open multiple Renko charts from one M1 chart (but I could be wrong - I've never tried).

Anyone else want to weigh in on this?
Old Benjamin was right
  • #278
  • Sep 22, 2009 3:10pm Sep 22, 2009 3:10pm
Quoting Lou G
I don't think you can open multiple Renko charts from one M1 chart (but I could be wrong - I've never tried).

Anyone else want to weigh in on this?

I shut down all the offline charts. Reopened the M1 offline and reinstalled the Renko. I also have an regular M1 chart of the same pair open.

M1 regular chart updating tick by tic 1.4793
M1 offline chart is not 1.4798
Renko chart is not. 1.4780

Chart eurusd
  • #279
  • Sep 22, 2009 3:29pm Sep 22, 2009 3:29pm
Quoting Nagpada
I shut down all the offline charts. Reopened the M1 offline and reinstalled the Renko. I also have an regular M1 chart of the same pair open.

M1 regular chart updating tick by tic 1.4793
M1 offline chart is not 1.4798
Renko chart is not. 1.4780

Chart eurusd
The renko indicator (RenkoLiveChart_v2.0) needs to be on a normal, live M1 chart - not on an offline M1 chart.

That's why nothing is updating - live (online) charts are connected to the live data feed - offline charts are NOT directly connected...
Old Benjamin was right
  • #280
  • Sep 22, 2009 3:40pm Sep 22, 2009 3:40pm
Quoting Lou G
The renko indicator (RenkoLiveChart_v2.0) needs to be on a normal, live M1 chart - not on an offline M1 chart.

That's why nothing is updating - live (online) charts are connected to the live data feed - offline charts are NOT directly connected...

That was it. Now it is updating. Thanks and onwards to the next querie as and when that arises. Thank you.
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