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Renko Block Charts

  • #361
  • Oct 6, 2009 4:45pm Oct 6, 2009 4:45pm
Quoting Lou G
You seem to be trying to make all the slow bars fit under the threshold - that's totally the opposite of what the indi is meant to do. The intent is to make the fast bars more obvious - fewer minutes for x pips = acceleration and momentum.

Short bars good - long bars bad...
Well , long bars also has its own use. Long bars Denote Consolidation. End of it denotes Consolidation break, etc ! Demand and Supply Theory !
So do you mean its not possible in that to see all bars ?
I think thats not so Bcoz just tried 3000 as threshold and i think i got whole idea. Every Week end bars will be equal to 1 day i think. and i noted the dates...all were on fridays !
Any way thanks for this.i will check out

Btw as i one pm'ed you...( that time u were busy with this related indi).. Can you write an indi which can plot curves like a moving average, the number of renko bars (block size in settings) in per unit Time frame (to be entered in settings). This cab be a very good Volatility Indicator (more the bars, more the volatility)as well as Momemtum indicator.
Kindly think about it ! I thought of posting this..as you seem to be interested in trading renko. Saw youir thread too ! I hope it can be of good use!

Regards
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #362
  • Oct 6, 2009 5:50pm Oct 6, 2009 5:50pm
Quoting LastViking
- Fixed a small bug related to BoxOffset
- Auto adjust for 3 and 4 dec JPY pairs
- Changed back to old style Renko live brick formation
- Added change log

I have shared this with one some friends and on a private forum. Just thought it should be here too. Nothing very major changed really, more like a personalized version of v3.0.

I am using V1.6 that works as a script, which creates M2 chart with renko bars. I do not how to use this EA and how it creates m2 chart with renko bars? Any installation instructions?
  • #363
  • Oct 8, 2009 9:10am Oct 8, 2009 9:10am
I have a question about renko. I am not sure whether anyone here has discussed it before, but I think some discussion is needed for this issue. The issue is Renko can be subjective. We can have slightly different visual depending on the starting point of the charting, in the case of the indicator here, we use Bars (the amount of bars we have in the chart), so the starting point of Renko is fixed arbitrarily due to insufficient amount of bars, instead of at the time the currency pair was first traded.

Does anyone see an issue here?
  • #364
  • Oct 8, 2009 9:42am Oct 8, 2009 9:42am
Quoting jlryan87
I have a question about renko. I am not sure whether anyone here has discussed it before, but I think some discussion is needed for this issue. The issue is Renko can be subjective. We can have slightly different visual depending on the starting point of the charting, in the case of the indicator here, we use Bars (the amount of bars we have in the chart), so the starting point of Renko is fixed arbitrarily due to insufficient amount of bars, instead of at the time the currency pair was first traded.

Does anyone see an issue here?
This is not really a programming question. You might want to repost in trading discussion section.
But ...
The Box offset feature of the latest code lets you set the "Starting Value" (kind of) so that you can overcome what you describe.
EllisEdi Moving on to my next trade ...
  • #365
  • Oct 8, 2009 10:54am Oct 8, 2009 10:54am
Quoting EllisEdi
This is not really a programming question. You might want to repost in trading discussion section.
But ...
The Box offset feature of the latest code lets you set the "Starting Value" (kind of) so that you can overcome what you describe.
I got it sorted out
  • #366
  • Oct 9, 2009 6:26am Oct 9, 2009 6:26am
Hello All
I have renko script
but I can't set expert advisors on it and EA don't work on renko chart

any one can help me and change renko script for me? or give me other range bar for work via EA ?

Thanks
  • #367
  • Oct 14, 2009 4:41pm Oct 14, 2009 4:41pm
Quoting mezarashii
this is a true gift to experienced traders. I have been using constant range bars and these beat the pants off of that script. Nothing shows the existence of a trend better than renko, I am a convert. Thanks to both posters with their efforts.

settings on my chart are 20. Happy pips to all.

hi

Could you post your indicator and template that you are using

Thank you ..
  • #368
  • Oct 15, 2009 8:40am Oct 15, 2009 8:40am
Quoting amint
Hello All
I have renko script
but I can't set expert advisors on it and EA don't work on renko chart

any one can help me and change renko script for me? or give me other range bar for work via EA ?

Thanks
I have the same problem
  • #369
  • Oct 15, 2009 9:06am Oct 15, 2009 9:06am
Quoting amint
Hello All
I have renko script
but I can't set expert advisors on it and EA don't work on renko chart

any one can help me and change renko script for me? or give me other range bar for work via EA ?

Thanks
On the commercial one EAs are working.
  • #370
  • Oct 15, 2009 11:30am Oct 15, 2009 11:30am
Quoting amint
Hello All
I have renko script
but I can't set expert advisors on it and EA don't work on renko chart

any one can help me and change renko script for me? or give me other range bar for work via EA ?

Thanks
Just some info:

Some experience problems then attaching EA's to the renko chart. It's usaly easy to fix, just uncheck the "offline chart" checkbox of the renko chart (F8: ->Common tab. On the top left).

Just remeber to turn it on again (or just close the renko chart) before you close MT4, else MT will try to download M2 history from the server next time you start it.

Best, LV
"Put all your efforts in becoming effortless"
  • #371
  • Oct 15, 2009 3:02pm Oct 15, 2009 3:02pm
I wrote an dumy EA some time a goe that just printed a log file with bid ws Close[0] over a couple of hours. It turns out that thay are not always the same if I just uncheck the "offline chart" checkbox. Mening that the EA will sometimes (but not always...) get called before the chart gets updated.
(I got suspicious because my "soft stop loss" EA fired of at the wrong price, one point off, from time to time)

Maybe not a big issue, but since there is a fix posted in Lou's Trading Renko thread I thought that I can just as well make it official. (Set EmulateOnLineChart = true and do NOT uncheck the "offline chart" checkbox)

RenkoLiveChart_v3.1 semse to be very stable at this point (no one have reproted any bugs/or new problems, and I'm using it my self alot), and this is just a small mod and some very minor clean up. I think this may very well be the final version. (fingers crossed...)

It would be nice if someone with some authority could clean up the mess with al the old versions I have posted... Anyone know how to?

Enjoy!
Attached File(s)
File Type: mq4 RenkoLiveChart_v3.2.mq4   14 KB | 12,675 downloads
  • #372
  • Oct 15, 2009 4:16pm Oct 15, 2009 4:16pm
looks good LV!

Cheers
  • #373
  • Oct 15, 2009 4:19pm Oct 15, 2009 4:19pm
Quoting LastViking
I wrote an dumy EA some time a goe that just printed a log file with bid ws Close[0] over a couple of hours. It turns out that thay are not always the same if I just uncheck the "offline chart" checkbox. Mening that the EA will sometimes (but not always...) get called before the chart gets updated.
(I got suspicious because my "soft stop loss" EA fired of at the wrong price, one point off, from time to time)

Maybe not a big issue, but since there is a fix posted in Lou's Trading Renko thread I thought that I can just as well make it official....
Thanks LV - excellent work as always. I agree, this should be the final version.

Since EllisEdi "owns" the thread, I believe he has the authority to modify the initial post but I'm not sure he can do anything about all the code you and I have posted - a good question for the moderators...

Thanks and best regards,

Lou
Old Benjamin was right
  • #374
  • Oct 15, 2009 6:33pm Oct 15, 2009 6:33pm
LastViking,
many thanks for this update. Me too I'm using intensively this great EA because I believe in hiding the noise from chart and make them time-independent.

Many thanks also to LouG and EllisEdi that cooperated to this job.

At the same time, I have a little request for all of you. Could you please make a "RangeBarLive" version? Unfortunately, I'm not a MQL programmer, otherwise I would have done by myself and shared with all the members of this community.

For RangeBar, I'm referring to the Nicolellis ones described at http://www.fibonaccitrader.com/HELP4...ar/default.htm

I opened a new thread about that but perhaps you haven't had the opportunity to read it. Briefly, here is what I think. IMO, Range bars offer the same advantages of Renko bars (charts not time-related and pure Price Action), may be with the additional benefit of a less rapid change of direction. They hide all the irrilevant movements less than bar size, still allowing to view what the price is doing.

E.g. On a 10 points Renko chart, a 20 pips movement is made by only 2 bricks (plus candle shadows if shown). What happened inside that movement is totally hidden. We loose the battle between Buyers and Sellers that could be helpful to catch the next big movement. Using 10 points Range bars such a 20 pips movement could be seen as a development of 3 or more candles, making clearer the market sentiment.

Also, it would be interesting to compare the result of 2 charting styles or the results of the same strategy applied to the 2 different charts.

I don't know if the changes in code will be minimal or will require a big effort. I think that the programming logic is more or less the same.

Many thanks in advance for the time you want to dedicate to the project.

Regards
Mimmo
  • #375
  • Oct 16, 2009 7:43am Oct 16, 2009 7:43am
Hi !
Is there any sound alert when a RENKO brik close ?
I'd like to be alerted when a bar close ....
Tnx in advance.
  • #376
  • Oct 16, 2009 8:58am Oct 16, 2009 8:58am
Quoting jumbo78
Hi !
Is there any sound alert when a RENKO brik close ?
I'd like to be alerted when a bar close ....
Tnx in advance.
That dose not belong in the Renko EA. Use a separate indi. on your renko chart instead.

Like this one:
Attached File(s)
File Type: mq4 CloseAlert.mq4   < 1 KB | 1,201 downloads
  • #377
  • Oct 16, 2009 11:01am Oct 16, 2009 11:01am
This is my Renko Chart; donīt lookīs normal.

I follow the rules from page 1 and loaded the indicator in a normal 1 Min. Chart. After them I open a offline 2 Min Chart. Restart MT4 but all what I see is this one. Setting under File "Extra - Options" is ok.

Please help me, what can I do ??

Thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: myrenko.gif Size: 20 KB
  • #378
  • Oct 16, 2009 12:11pm Oct 16, 2009 12:11pm
Quoting Baracuda
This is my Renko Chart; donīt lookīs normal.

I follow the rules from page 1 and loaded the indicator in a normal 1 Min. Chart. After them I open a offline 2 Min Chart. Restart MT4 but all what I see is this one. Setting under File "Extra - Options" is ok.

Please help me, what can I do ??

Thanks in advance.
You could switch to candles from bars :-)
  • #379
  • Oct 17, 2009 1:49am Oct 17, 2009 1:49am
I am in the process of redoing my charts, going from V 2.1 indicator to V 3.2 EA . I am encountering the following problem.

After attaching the EA to a 1M live chart I modify the inputs to
box size --- 5
renkotime frame --- 6 ( renaming of chart )
click--- ok

1. At this point the live chart should indicate which offline chart to open. It does not do so. It does this on the V2.1 ( indicator ).
2. File --> open offline should show me a M6 chart to open. It does not. On V 2.1 it will show me the renamed chart to open.

Any thoughts of any steps that I am missing out.

Thanks for your help. Hopefully I wll get all this setup this weekend and ready for Monday trading with all the new indicators and setups that have been posted here over the past few days. Thanks again.

http://cdn.forexfactory.com/images/misc/progress.gif

  • #380
  • Oct 17, 2009 9:21am Oct 17, 2009 9:21am
Quoting jumbo78
You could switch to candles from bars :-)
Hello jumbo78,

thx a lot. Itīs so easy !! Sometimes my brain donīt work.
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