Renko Block Charts | Page 15 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

RENKO Trading SYSTEM - RENKO Indicators 7 replies

New Renko Bar and Reversal Renko Bar Indicator Alert Help Please 5 replies

Charts, Charts, Charts! 1 reply

Sticky Renko Charts 5 replies

MA problem on 1/2 block Renko 1 reply

Attachments: Renko Block Charts
Exit Attachments

Renko Block Charts

  • #281
  • Sep 22, 2009 3:45pm Sep 22, 2009 3:45pm
Quoting Nagpada
That was it. Now it is updating. Thanks and onwards to the next querie as and when that arises. Thank you.
See? I told you so

There is a thread about trading with Renko in the trading systems forum - do a search on Nitro...

You're welcome and good trading,

Lou
Old Benjamin was right
  • #282
  • Sep 22, 2009 3:57pm Sep 22, 2009 3:57pm
I see that you have tails on your chart. How does that factor in into your trading with Renko charts. Thanks
  • #283
  • Sep 22, 2009 7:09pm Sep 22, 2009 7:09pm
Quoting Nagpada
I see that you have tails on your chart. How does that factor in into your trading with Renko charts. Thanks
I don't use them for trading - I put them into RenkoLiveChart_v3.0 because so many people requested them and I haven't bothered to turn them off on my demo system.

I think most people use them for visual backtesting.
Old Benjamin was right
  • #284
  • Sep 23, 2009 12:41am Sep 23, 2009 12:41am
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?
Post # 206 by LV states that he has multiple open charts off one M1 chart.
  • #285
  • Edited 7:06am Sep 23, 2009 4:33am | Edited 7:06am
Quoting Nagpada
Post # 206 by LV states that he has multiple open charts off one M1 chart.
Well, yes. That was the main reason the RenkoLiveChart_v2.x.mq4 was made an indicator in the first place. You can't have multible EA's or scripts on the same chart (as far as I know anyway) but any number of indicators.

However, makeing it an indicator also turns out to open a can of worms on it's own that has to do with indcators executing in the main thread in MT4 while scripts & EA's do not.

In practice (and less technical terms) this means that the v2.x will temporally delay the updating of the renko chart while MT4 is minimized or hidden behind some other app (this also includes any EA attached to the renko chart). You will also need to refresh the M1 chart every time you start MT4 if you left the renko chart open last time you exited.

Other then that, RenkoLiveChart_v2.x works grate.

v3.0 don't have any of this problems, but can't feed more then one renko chart from the same M1 chart (because it's an EA).
  • #286
  • Sep 23, 2009 5:48am Sep 23, 2009 5:48am
I want to ask someone to change last version Renko 3.0. I need to see renko chart with Close price instead High/Low. Or what change in code?
  • #287
  • Sep 23, 2009 6:32am Sep 23, 2009 6:32am
Hello,
Even though I have read the posts regarding the display of renko 5 and 10 pips brick at the same time, I do not understand how do you display 5 and 10 pip bricks on 2 different offline charts.
I have the Renko EA 3.0 for the 2min offline but how do you get for example the Renko 2.1 Script running on another offline chart?
If I open another 1min timeframe of say EUR USD, and apply the Renko 2.1 script, how can I assign an offline timeframe other than 2mins for the Script?
Thanks for your precious help.
  • #288
  • Sep 23, 2009 9:04am Sep 23, 2009 9:04am
Use M205 for the 5 pip and M210 for the 10 pip. Use the EA version for best performance.
  • #289
  • Sep 23, 2009 9:05am Sep 23, 2009 9:05am
Open the first 1 min chart, drag the Renko 3.0 ea onto it, assign Renko box size 5 and assign Renko Timeframe to eg. 2 to view 5 pip and
Now open the second 1 min chart , drag the same Renko 3.0 ea and set box size 10 pip, assign timeframe to 3. As long as these numbers are different, you can view 2 offline charts. (any number as long as it is not 5, 15, 30 etc., because these are actual timeframes).

You then look for the offline chart M2, M3 etc. as you have assigned it when you put the ea on the 1 min charts.

You may put on a template to these offline charts, to set colours, indicators etc.

Do not close the 1 min chart, just minimise it. Make sure this chart has the smiley face & the text for the location of offline chart. It may take a few seconds to load.

regards,
It never gets easier, you just get better
  • #290
  • Sep 23, 2009 11:38am Sep 23, 2009 11:38am
One major problem is the amount of screen real estate this chews up when viewing multiple block sizes and multiple pairs.
  • #291
  • Edited 1:53pm Sep 23, 2009 1:52pm | Edited 1:53pm
http://www.forexfactory.com/showthre...t=4520&page=13
post 191
ps: Chart courtesy Enroth - Thanks. ! ;=)
Attached Image (click to enlarge)
Click to Enlarge Name: market-guidance-larg.gif Size: 279 KB
  • #292
  • Edited 4:27pm Sep 23, 2009 2:48pm | Edited 4:27pm
Quoting Shabs19
Open the first 1 min chart, drag the Renko 3.0 ea onto it, assign Renko box size 5 and assign Renko Timeframe to eg. 2 to view 5 pip and
Now open the second 1 min chart , drag the same Renko 3.0 ea and set box size 10 pip, assign timeframe to 3. As long as these numbers are different, you can view 2 offline charts. (any number as long as it is not 5, 15, 30 etc., because these are actual timeframes).

You then look for the offline chart M2, M3 etc. as you have assigned it when you put the ea on the 1 min charts.

You may put on a template to...
OK,
Thanks so much. It works. For some reason I didn't have the 3M in my offline as I had the unhappy face of the EA. Now it's all good.
Thanks again
  • #293
  • Edited 11:12am Sep 24, 2009 2:40am | Edited 11:12am
Some of my offline pairs do not have enough bars in history. How do I rectify this. Thanks.

Entered a buy for eurusd at 1.4755 with a TP at 1.4823 see how this plays out.


Trend turned and took out my stop. next trade
  • #294
  • Sep 25, 2009 10:08am Sep 25, 2009 10:08am
hey guys I have read from this thread only the first 3 pages so excuse me if this was discussed earlier in this thread

correct me if I'm rong on this statement:A renko chart is constructed by placing a brick in the next column once the price surpasses the top or bottom of the previous brick by a predefined amount.Renko charts have a pre-determined "Brick Size" that is used to determine when new bricks are added to the chart. If prices move more than the Brick Size above the top (or below the bottom)of the last brick on the chart, a new brick is added in the next chart column.

i have the following problem I have attached the script(RenkoliveChart_v1[1].6) on 1m off GBP/Jpy and than open the offline chart,after that I have attached again the script to the same pair only that now off the 1h chart and I have obtained a different cahrt.

Now if the above statement, the first paragraf it's right, than this supposed to not happen this because ranko cahrt are not corelated with time, and I should obtain the same chart.

I'm right? why than I have obtained defferents ranko charts?

Now lets give you an exemple to make sure you understand me.
Let's suposed that we whant to see a renko chart with a box size off 10 pips(see picture above with explination).

PS. another problem that i have it's that after some time the offline chart stop respondingand dosen't show the real price. I hitted the refresh button but nothing.But after a pause it's goin in normal mode.It's this happening because large volatility?and the scrip cano't make all the calculus?

anyone can hellp I'll be glad

thanks!!

Attached Image
  • #295
  • Sep 25, 2009 10:23am Sep 25, 2009 10:23am
Wonder if anyone has the mq4 code file for this one, or can decompile it.
Would like to remove the Tudorgirl name from it if at all possible.
Maybe some coders can then explain what makes it tick.
I think it is one of the best indicators to use on renko charts, if you can find the right settings for the brick size your using.
It was introduced early on in the now binned C4 thread after edge introduced nitro, by no other than infamous TG, aka codebreaker according to Twee etc.
My thanks to whomever he/she/it are/were anyway for introducing it.
Attached File(s)
File Type: ex4 TG-Sinc-Spectrum-Cycle.ex4   5 KB | 1,200 downloads
  • #296
  • Edited 11:50am Sep 25, 2009 11:36am | Edited 11:50am
I am very happy with what has been developed here and indeed this will be a immensely useful tool for me..I was using this on USDJPY and I changed the 1min chart to Daily and this was the result! Trading will be much simpler if all charts are like this!
Attached Image (click to enlarge)
Click to Enlarge Name: renko1.6.gif Size: 19 KB
"Put all your efforts in becoming effortless"
  • #297
  • Sep 25, 2009 11:53am Sep 25, 2009 11:53am
Quoting triger88990
hey guys I have read from this thread only the first 3 pages so excuse me if this was discussed earlier in this thread

correct me if I'm rong on this statement:A renko chart is constructed by placing a brick in the next column once the price surpasses the top or bottom of the previous brick by a predefined amount.Renko charts have a pre-determined "Brick Size" that is used to determine when new bricks are added to the chart. If prices move more than the Brick Size above the top (or below the bottom)of the last brick on the chart, a new brick...
All RenkoLiveChart versions are intended to be run on M1 charts. You will not get the correct result using longer timeframes. This has been mentioned at least a dozen times - why fight it?

My second question to you is, why use such an old version of the EA? The current version is 3.0 (see post #225). Many bugs have been eliminated and improvements added in the latest version.
Old Benjamin was right
  • #298
  • Sep 25, 2009 11:54am Sep 25, 2009 11:54am
Hi ,

It looks very similar to the Trix indicator, in fact I prefer the Trix to this one.
It never gets easier, you just get better
  • #299
  • Sep 25, 2009 11:57am Sep 25, 2009 11:57am
Quoting IamTHAT
I am very happy with what has been developed here and indeed this will be a immensely useful tool for me..I was using this on USDJPY and I changed the 1min chart to Daily and this was the result! Trading will be much simpler if all charts are like this!
See my reply to triger88990. You will get very different results going forward if you use a TF greater than M1.

Sure does look pretty, though...
Old Benjamin was right
  • #300
  • Sep 25, 2009 12:01pm Sep 25, 2009 12:01pm
Quoting Lou G
All RenkoLiveChart versions are intended to be run on M1 charts. You will not get the correct result using longer timeframes. This has been mentioned at least a dozen times - why fight it?

My second question to you is, why use such an old version of the EA? The current version is 3.0 (see post #225). Many bugs have been eliminated and improvements added in the latest version.
You have quoted the wrong post I think.
Thanks for your input and sorry if this has already been dealt elsewhere.
I am also using latest version on another pair.
"Put all your efforts in becoming effortless"
3 traders viewing now