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Trading Renko

  • #541
  • Nov 18, 2009 4:40pm Nov 18, 2009 4:40pm
Quoting Nagpada
As far as you are aware are there problems associated with V 3.0. I prefer using indicators to EA's ( except trading EA's ).

Thanks for your attention and reply.
1. Indicator versions do not update promptly when mt4 is restarted. mt4 may have to be restarted more than once to make the chart current.

2. Yen crosses will not automatically adjust box size correctly.

3. v3.2 has an option to emulate an online chart that allows trading ea's to be run without unchecking the offline chart option. I never tried running a trading ea on version 3 so I can't say whether this is a problem or not.

If none of the above things bother you then use v_3.0 if you want.

The aim of encouraging users to upgrade to the latest release is that, if some deeply-buried bug is found in the code, LV (or Lou G) will not have to correct the error in all earlier versions.
Old Benjamin was right
  • #542
  • Nov 18, 2009 4:43pm Nov 18, 2009 4:43pm
Quoting Nagpada
Could you please explain how you get MT 4 to generate this trading chart.

Thanks
Look back a page or two - I just answered this question for a member (murph-something?)- can't recall his handle...
Old Benjamin was right
  • #543
  • Nov 18, 2009 4:46pm Nov 18, 2009 4:46pm
Quoting Lou G
Latest version is v3.2 - use that instead. Earlier versions have been deprecated.

v3.2 is an EA, not an indicator, so it needs to be installed differently. Instructions are on this thread (more than once).
Thanks for the response. I have installed v.3.2 and run it using the instructions you provide at
http://www.forexfactory.com/showpost...&postcount=225

(that is install the EA in experts, run it and wait till it says that chart is ready, then open offline chart "M2")

I am afraid this version is doing exactly the same, (i.e. wicks that should not be there).

Any other suggestions?
  • #544
  • Nov 18, 2009 4:59pm Nov 18, 2009 4:59pm
Quoting tigretoncio
Thanks for the response. I have installed v.3.2 and run it using the instructions you provide at
http://www.forexfactory.com/showpost...&postcount=225

(that is install the EA in experts, run it and wait till it says that chart is ready, then open offline chart "M2")

I am afraid this version is doing exactly the same, (i.e. wicks that should not be there).

Any other suggestions?
Yes, post pics both charts (offline and M1) and tell me what settings you have in RLC_3.2

I just now created an EY chart using RLC_3.2 and it's just fine, therefore you must be doing something different.
Old Benjamin was right
  • #545
  • Nov 18, 2009 5:15pm Nov 18, 2009 5:15pm
Quoting Lou G
Yes, post pics both charts (offline and M1) and tell me what settings you have in RLC_3.2

I just now created an EY chart using RLC_3.2 and it's just fine, therefore you must be doing something different.
Update: you don't have more than one M1 chart driving the same offline chart, do you?
Old Benjamin was right
  • #546
  • Nov 18, 2009 5:27pm Nov 18, 2009 5:27pm
Quoting Lou G
Update: you don't have more than one M1 chart driving the same offline chart, do you?
Thank you - silly me, I was not using M1 charts!

It is working well, sorry for the trouble.
  • #547
  • Nov 18, 2009 5:41pm Nov 18, 2009 5:41pm
Lou, do you see a Midnight Special on GU tonight? As of 20 before 00:00 GMT, it doesn't look like it to me. What say you?

We're in a down trend with support below, although it does have a couple of bricks up.

MurphyMan
Attached Image (click to enlarge)
Click to Enlarge Name: renko_smultrasupertrix.gif Size: 25 KB
  • #548
  • Nov 19, 2009 12:12am Nov 19, 2009 12:12am
Quoting Lou G
1. Indicator versions do not update promptly when mt4 is restarted. mt4 may have to be restarted more than once to make the chart current.

2. Yen crosses will not automatically adjust box size correctly.

3. v3.2 has an option to emulate an online chart that allows trading ea's to be run without unchecking the offline chart option. I never tried running a trading ea on version 3 so I can't say whether this is a problem or not.

If none of the above things bother you then use v_3.0 if you want.

The aim of encouraging users to upgrade to the...

Thank you for your reply. I will be transfering to V 3.2. Maybe that is why the EA I posted does not work. Will try that out too. Will keep you'll posted on the outcomes. Now to also investigate how to draw charts of my trades. Maybe that too will be revealing. Thanks. Wish there was a good MT 4 manual. The help section is skechy for me.
  • #549
  • Nov 19, 2009 6:34am Nov 19, 2009 6:34am
I was looking through some more of SwingMan's work and I came across the Hull MA. Google it for more info. It's claim to fame is smoothing out the noise and fast reacting.

I overlaid swingman's HMA and am really quite excited by the indicator. Attach this indicator to a couple of your charts and take a look.

MurphyMan
Attached Image(s) (click to enlarge)
Click to Enlarge Name: renko_hull_smultrasupertrix.gif Size: 21 KB
Click to Enlarge Name: renko_hull_01smultrasupertrix.gif Size: 20 KB
Attached File(s)
File Type: mq4 smHull Mavg.mq4   5 KB | 1,285 downloads
  • #550
  • Edited 8:58am Nov 19, 2009 8:32am | Edited 8:58am
Quoting MurphyMan
Lou, do you see a Midnight Special on GU tonight? As of 20 before 00:00 GMT, it doesn't look like it to me. What say you?

We're in a down trend with support below, although it does have a couple of bricks up.

MurphyMan
Sure - note the SR - lower highs and lower lows say what? Going down, right?

Entry at the arrow gets 30 pips.

Yesterday (11/18) was a loser - brings me to 10 wins, 4 losses for November.
Attached Image (click to enlarge)
Click to Enlarge Name: renko10pip.gif Size: 14 KB
Old Benjamin was right
  • #551
  • Nov 19, 2009 9:00am Nov 19, 2009 9:00am
Quoting Lou G
Sure - note the SR - lower highs and lower lows say what? Going down, right?

Entry at the arrow gets 30 pips.

Yesterday (11/18) was a loser - brings me to 10 wins, 4 losses for November.
Good trade Lou
"Buy on fear, sell on greed !!!
  • #552
  • Edited 10:12am Nov 19, 2009 9:54am | Edited 10:12am
At or near midnight GMT the markets open in Sydney, HongKong, etc. I noticed several years ago that there is often an increase in activity at this time and it tends to be a bit less volatile than the London open (which starts while I'm sleeping so I can't trade it live).

The Midnight Special is a good beginner trade. Noobs tend to overtrade (I did, a few years ago) and restricting trading to once a day prevents this. The time (6 or 7 PM CDT depending on DST) is convenient for many. I try to keep the trade as mechanical as possible - continue an existing trend if one is in place or take a new signal if it makes sense based on S/R - place the trade (using a pending order if needed), shut down MT4 and enjoy the rest of your evening. If obvious consolidation is happening, take a pass - the market will be there tomorrow.

Based on visual backtesting, it appears that this approach may be good for 100-200 pips per month. Obviously, this is not an aggressive approach but those pips will add up as time passes.

As I've mentioned before, I also trade the New York open and am a bit more analytical (and aggressive) than I am with the Midnight Special but when Midnight rolls around I always leave this simple trade working before I quit for the day.

I like GU so I trade that but the trade may work just as well for other pairs. Check it out - it's very easy to do a visual backtest and see how often Renko moves in your favor for 3 new blocks before it moves 3 blocks against you.
Old Benjamin was right
  • #553
  • Nov 19, 2009 12:36pm Nov 19, 2009 12:36pm
After you helpful explanetio above I proceeded to install v 3.2.

Have you encountered this problem With V3.2 or V 3[1].2 Check out the last 2 bars. I have used V2.0 and V 3.0 but have never encounterd this problem. Did a delete and reinstall more than once on both 5 and 20 block charts and had problems on both. So changee over is on halt. On a second look the entire picture looks wierd. I will post a picture of my other setups for comparisons.
Attached Image (click to enlarge)
Click to Enlarge Name: eu m2.gif Size: 33 KB
  • #554
  • Nov 19, 2009 1:00pm Nov 19, 2009 1:00pm
This is eu on V 3.0 Notice the placement of renko blocks the previous was uj on v 3[1].2 and same for v 3.2.

I get the same look with V2.x except no tails.
Attached Image (click to enlarge)
Click to Enlarge Name: eu m2.gif Size: 37 KB
  • #555
  • Nov 19, 2009 1:04pm Nov 19, 2009 1:04pm
Just curious!

Thanks

darren
  • #556
  • Nov 19, 2009 2:16pm Nov 19, 2009 2:16pm
How many Renko EA's can one attach to a one minute chart. Let me elaborate.

I open a fresh 1M chart. Then attach EA V 3.2 to it and specify block size 5.
Can I now also attach EA 3.2 again and specify block size 20.

Will (should ) they both get updated pip by pip.

The reason for this question is I have been doing exactly this with the indicator versions either V 2.x or V 3.0 but I notice that with an EA only one, the last attachment, gets updated. I run between 2 to 3 different block sizes looking for confirming waves and running them off a single 1M chart saves on precious screen real estate.

Thanks for your input.
  • #557
  • Nov 19, 2009 2:24pm Nov 19, 2009 2:24pm
1 EA per chart. Use 2 1-min charts. Have different file names than M2.
  • #558
  • Nov 19, 2009 2:49pm Nov 19, 2009 2:49pm
Quoting Kenz987
1 EA per chart. Use 2 1-min charts. Have different file names than M2.
If that is the case then it a major drawback for many traders as it
1. eats screen space ( i trade 6 pairs and display 3 block sizes per )
2. Many traders who trade higher TF's ( block sizes ) use lower TF's (block sizes ) for better entry.

So unless EA's can be modified for this, indicators are the way to go. Personally I think EA's should only be used for trading.
  • #559
  • Nov 19, 2009 2:50pm Nov 19, 2009 2:50pm
Quoting Nagpada
How many Renko EA's can one attach to a one minute chart. Let me elaborate.

I open a fresh 1M chart. Then attach EA V 3.2 to it and specify block size 5.
Can I now also attach EA 3.2 again and specify block size 20.

Will (should ) they both get updated pip by pip.

The reason for this question is I have been doing exactly this with the indicator versions either V 2.x or V 3.0 but I notice that with an EA only one, the last attachment, gets updated. I run between 2 to 3 different block sizes looking for confirming waves and running them off...
Nagpada,
A setup like that of Forexflash would be nice would it not? , post no 74 of this thread http://www.forexfactory.com/showpost...5&postcount=74

Is it possible Lou?
Regards
The doctor.
  • #560
  • Nov 19, 2009 3:01pm Nov 19, 2009 3:01pm
Quoting Dr.Scalpall
Nagpada,
A setup like that of Forexflash would be nice would it not? , post no 74 of this thread http://www.forexfactory.com/showpost...5&postcount=74

Is it possible Lou?
Regards
The doctor.

I have that attached but it is broken. Does not give an accurate picture
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