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Renko Block Charts

  • #401
  • Nov 8, 2009 5:21am Nov 8, 2009 5:21am
Hi Fella

I have been watching this thread carefully and i am pleasantly impressed, anyway i am having some minor issues in applying v1.3 to 1.6 on my 5digit broker platform here is the problem below

1: My broker runs a four digit and 5 digit decimals . i use the 5 digit because it is direct ECN execution. When i apply the renko script on m1 5dgt chart and open offline chart, it only applies renko to four digit chart as oppoesed to 5 digit chart.
2: i have already tried changing pips value in script e.g to say 100 as opposed to 10 still no success.


So will any of you clever folks have any clever ideas on how to overcome this problem


i already trade renko for over 3 years as pro trader. Bags loads of pips you do not need any other indicators on your chart just support and resistance & MA3 and you are up and running..........DO NOT CLUTTER THE MIND

Regards

Carterr
  • #402
  • Nov 8, 2009 1:56pm Nov 8, 2009 1:56pm
Quoting Lou G
I'm not quite sure I understand what you are asking. If you want to create new offline charts on the weekend when no ticks are coming in, the EA is a problem.

What I do is make sure that I have created any charts I will need on the weekend before the market closes on Friday.

You could also search this thread for a post containing a script that simulates an incoming tick. That should force v3.2 to create a chart. I'm not sure of the spelling of the name of the member who posted it but I'll look for it and get back to you.
When you run the EA or script it creates *.hst files which contain the renko blocks.. I've modded the EA(v3.2) to allow creating the renko blocks in a M5 *.hst file.. then i can disconnect from the broker server move the hst file to pseudo broker folder(inside the MT4>history folder) and run that M5 hst file in the backtester(just like the instructions you linked in your last post).. the problem with the renko EA's is that you need to have an incoming tick in order for the start function to run and create the renko data.. and so the next problem is that m5 data is also coming in and i think this is corrupting the m5 renko charts. <--but im not positive this is the reason the m5 chart is corrupt or not able to run in the strategy tester..
When i select the m5 offline chart from File>Open Offline, it will show the renko blocks. But when selected from the strategy tester, the chart pops up, shows the renko blocks, begins to load the data(says "Using M5") then the screen goes black shows "Waiting for Update" and the tester reports error "No history data [m5]" or something to that effect.
But on a rare occasion i can get it to work. I've repeatedly done this in every order possible but i can not figure out why sometimes it works and sometimes it doesnt.. It seems completely hit or miss.

When i use the commercial script or the script from this thread it seems to work just like you have posted in the instructions from your previous post.
The only problem with the previous scripts and the commercial script is that there is no wicks created on the bars so backtesting is less accurate.

Im going to try the jumpstart thing you've posted here while disconnected from the broker, and see how that goes. I know this all may sound very confusing because you really haven't gone through this with me and seen the problems im referring too.. maybe if someone else is trying to create backtest-able m5 data they may have some input on what im talking about.

PS - thanks so much for your help so far..
  • #403
  • Nov 8, 2009 1:59pm Nov 8, 2009 1:59pm
Quoting draco76x
Just want to find out, will this Renko's script, EA & indicator be written for MT5??

Im really hoping MT5 will have other types of selectable charts(renko, and maybe P&F charts) so we dont need to go through this..
  • #404
  • Nov 8, 2009 8:00pm Nov 8, 2009 8:00pm
I've just got my commercial version of Renko started (now 60 EUR, BTW). For some reason, I'm getting candles on my leading brick. I also noticed that the leading brick can be longer than all of the preceding bricks. Why is happening this and is it normal?

Please take a look at the chart and let me know what you think.

FXDD, 5 digit broker
smRanko_Signals_v1
MA in Color_wAppliedPrice

Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: renko with bad candle.gif Size: 29 KB
  • #405
  • Nov 9, 2009 2:12am Nov 9, 2009 2:12am
Quoting draco76x
Just want to find out, will this Renko's script, EA & indicator be written for MT5??
Probably not in the same way as MT5 has no off-line chart possibilities.
  • #406
  • Nov 9, 2009 2:17am Nov 9, 2009 2:17am
Quoting gmax111
The only problem with the previous scripts and the commercial script is that there is no wicks created on the bars so backtesting is less accurate.
The commercial script has wicks introduced a long time ago. All clients can simply download the latest version which has everything for which clients asked. Moreover, if you have any issues with the commercial script just write to the guy and he will solve it in a short time.
  • #407
  • Nov 9, 2009 4:24am Nov 9, 2009 4:24am
Quoting MurphyMan
I've just got my commercial version of Renko started (now 60 EUR, BTW). For some reason, I'm getting candles on my leading brick. I also noticed that the leading brick can be longer than all of the preceding bricks. Why is happening this and is it normal?
Yes, this is normal. It will be closed when brick size is moved in the direction of the previous brick or double brick size in the opposite direction (reversal). This comes directly from definition of Renko's.
  • #408
  • Nov 9, 2009 5:46am Nov 9, 2009 5:46am
Quoting aktur
Probably not in the same way as MT5 has no off-line chart possibilities.
Maybe hope that somebody can really comes out a Renko Chart for MT5 & fix the "problems & errors" that in MT4 in the near future.

  • #409
  • Nov 9, 2009 8:09am Nov 9, 2009 8:09am
Question:

if I want to avoid reloading and resetting the off-line charts after the platform was closed and reloaded - I simply insert the indicator under expert and let it run as an expert. As per the pdf-file.

But will the "ea" open trades on it´s own ?
Or will it behave just like an indicator ?
  • #410
  • Nov 9, 2009 9:03am Nov 9, 2009 9:03am
Quoting globalinvest
Question:

if I want to avoid reloading and resetting the off-line charts after the platform was closed and reloaded - I simply insert the indicator under expert and let it run as an expert. As per the pdf-file.

But will the "ea" open trades on it´s own ?
Or will it behave just like an indicator ?
Hi,
the PDF covers only the commercial scripts. I doubt that the free indicator can be used as EA. Perhaps the free script can be used this way? I don't know as I support only the stuff I've written.
  • #411
  • Nov 9, 2009 11:33am Nov 9, 2009 11:33am
Quoting gmax111
When you run the EA or script it creates *.hst files which contain the renko blocks.. I've modded the EA(v3.2) to allow creating the renko blocks in a M5 *.hst file.. then i can disconnect from the broker server move the hst file to pseudo broker folder(inside the MT4>history folder) and run that M5 hst file in the backtester(just like the instructions you linked in your last post).. the problem with the renko EA's is that you need to have an incoming tick in order for the start function to run and create the renko data.. and so the next problem...
The most recent version of the free code is RenkoLiveChart_v3.2. It runs as an EA, optionally creates wicks, handles 4/5 digit brokers and will allow the user to run EA's on the offline chart without any problems. Versions of RLC prior to 3.2 have been deprecated (per LastViking, the author). I use this version daily for live trading with no difficulties.

The commercial version is also very good - your choice.

As far as Strategy Tester goes - I have not attempted to backtest using offline charts but I understand it can be done by creating a dummy server which will not update and renaming the offline chart to a "legal" timeframe. Sound like you are on the right track.

I posted a script recently that will mimic an incoming tick - it's called JumpStart.mq4 and will allow you to create offline charts when the market is closed. Check my recent posts or look in the list of posted attachments (the paperclip icon at the top of each page).
Old Benjamin was right
  • #412
  • Nov 9, 2009 12:16pm Nov 9, 2009 12:16pm
Just read through your post again - are you saying that you are unable to create offline charts on a dummy server? If so, why do that - copy an existing offline hst file to the dummy server and rename it.

Maybe I'm not fully understanding what you're asking - I didn't understand the thing about "no wicks in v3.2" either - to get the wicks just set the ShowWicks option to true...
Old Benjamin was right
  • #413
  • Nov 9, 2009 1:13pm Nov 9, 2009 1:13pm
Quoting Lou G
Just read through your post again - are you saying that you are unable to create offline charts on a dummy server? If so, why do that - copy an existing offline hst file to the dummy server and rename it.
I wasn't actually creating the .hst file in the dummy server, i was creating them in the broker server folder then connecting to the dummy server and copying the hst file over.
i also tried this..
in the code in v3.2 i changed:
Inserted Code
FileWriteInteger(HstHandle, RenkoTimeFrame, LONG_VALUE);    // Period
to:
Inserted Code
FileWriteInteger(HstHandle, 5, LONG_VALUE);    // Period
but left RenkoTimeFrame=2 in the default settings. That way the history file header was written as a 5m but named as "EURUSD2.hst" in the broker history folder.. then i copied that file over to the dummy broker folder and renamed it to "EURUSD5.hst", but this was still hit or miss..

Quoting Lou G
Maybe I'm not fully understanding what you're asking - I didn't understand the thing about "no wicks in v3.2" either - to get the wicks just set the ShowWicks option to true...
What i am saying about this is that earlier version of the script will create the data no problem just by working out of the dummy server folder(just like the instructions you gave your earlier post)

But the earlier versions of the script doesnt have wicks and so backtesting without the wicks will be less accurate so i'd like to use v3.2. But in order to do this i think v3.2 needs to be a script so we can run it in offline mode(while connected to dummy broker) or use the JumpStart file(which i have yet to try )
  • #414
  • Nov 9, 2009 3:02pm Nov 9, 2009 3:02pm
Quoting gmax111
I wasn't actually creating the .hst file in the dummy server, i was creating them in the broker server folder then connecting to the dummy server and copying the hst file over.
i also tried this..
in the code in v3.2 i changed:
[code]FileWriteInteger(HstHandle, RenkoTimeFrame, LONG_VALUE);...
Okay, now I've got it. By all means, try the JumpStart script. It works fine when the market is closed so it should work on a dummy server.

Good luck - let me know how it turns out. I don't like to use strategy tester but do like to expand my knowledge.
Old Benjamin was right
  • #415
  • Nov 9, 2009 5:11pm Nov 9, 2009 5:11pm
Lou,

I am using your renko indicator RenkoLiveChart_v3.0 with the euro/usd and gbp/usd but I am unable to do the same with other pairs such as aud/usd..etc. because my MT4 (FoxPro) does not show a 2m chart (offline) for them... Is there anything that I can do to resolve this issue?

Thanks
Unus pro omnibus, omnes pro uno
  • #416
  • Nov 9, 2009 5:24pm Nov 9, 2009 5:24pm
Quoting Lou G
The attached script (thanks to Hayseed) will simulate an incoming tick so you can create offline charts with v3.2 when the market is closed.

I hope this helps.
Hi Lou G,

Great thread guys and thanks a million all.

Just need to know, in which Mt4 folder do we place the Jumpstart script?

Satni
  • #417
  • Nov 9, 2009 8:38pm Nov 9, 2009 8:38pm
Hello traders.. I have a question about Renko. Is it possible to make this Ea work on 4hr charts. Also is to possible to get 4hr blocks on the 5 min chart?
  • #418
  • Nov 10, 2009 8:38am Nov 10, 2009 8:38am
Quoting Satni
Hi Lou G,

Great thread guys and thanks a million all.

Just need to know, in which Mt4 folder do we place the Jumpstart script?

Satni
yourmt4/experts/scripts
Old Benjamin was right
  • #419
  • Nov 10, 2009 8:50am Nov 10, 2009 8:50am
Quoting moneda
Lou,

I am using your renko indicator RenkoLiveChart_v3.0 with the euro/usd and gbp/usd but I am unable to do the same with other pairs such as aud/usd..etc. because my MT4 (FoxPro) does not show a 2m chart (offline) for them... Is there anything that I can do to resolve this issue?

Thanks
Number one, please upgrade to v3.2 - all prior versions are deprecated per the author of the EA.

As far as your question re: AU and other pairs, I can't imagine why this would happen - I've used RLC_v3.2 on most common pairs including AU with no problem. When you add the EA to your M1 chart do you see the message in the upper left corner indicating the name of the offline chart? If not, be sure you have clicked the expert advisors button (top center on the tool bar) and that the expert advisory at the upper right corner of the chart is showing a "smiley face" (and that you have Allow DLL Calls, etc. enabled globally).

Try again with v3.2 and, if you still have no joy, post again - we'll get to the bottom of it.
Old Benjamin was right
  • #420
  • Nov 10, 2009 9:11am Nov 10, 2009 9:11am
Quoting drago24
Hello traders.. I have a question about Renko. Is it possible to make this Ea work on 4hr charts. Also is to possible to get 4hr blocks on the 5 min chart?
The short answer to this is "No" because Renko Blocks by definition are not time-based, they are price-based. A new block is created when price moves by x pips, x being a number that the user specifies. The time elapsed is irrelevant.

If you are looking for longer swings, try increasing the Renko block size. Conversely, if you prefer to scalp, try a smaller size.
Old Benjamin was right
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