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Trading Renko

  • #621
  • Dec 11, 2009 3:40pm Dec 11, 2009 3:40pm
Quoting Nagpada
Could it be that most indicators are not written with renko bricks in mind ?

Renko bricks without tails only provide high/low or open /close information. Witn tails on the range is available. When using a existing indicator you need to know what it's inputs are. Therefore some existing indicator not written exclusively for renko will prove usless.
Could be true, but if you set the renko size to 5 pips or less (and this is just to see it happen alot quicker) and add EMAs or Gaan, or CCI or whatever, you'll see they line up perfectly, but as the renkos keep coming the indis don't update properly.

I think the indis are still running on 'time' and not like renkos on pips...
  • #622
  • Dec 11, 2009 11:45pm Dec 11, 2009 11:45pm
Quoting cspip
Could be true, but if you set the renko size to 5 pips or less (and this is just to see it happen alot quicker) and add EMAs or Gaan, or CCI or whatever, you'll see they line up perfectly, but as the renkos keep coming the indis don't update properly.

I think the indis are still running on 'time' and not like renkos on pips...
Do you use renko with or without tails ? And yes time indis are written for time bars and update by bar. Therefore some will work many won't depending upon input requirements.
  • #623
  • Dec 13, 2009 1:52pm Dec 13, 2009 1:52pm
Does anyone know if any brokers provide data i.e. futures, comodities, etf etc. for the MT 4 platform or is it limited to just forex data.

Thanks and appreciate all replies.
  • #624
  • Dec 13, 2009 2:52pm Dec 13, 2009 2:52pm
Yes quite a few do. Try Forexpro, Odl securities, North Finance etc. etc. there are are many , do the research.

regards,
It never gets easier, you just get better
  • #625
  • Dec 13, 2009 3:03pm Dec 13, 2009 3:03pm
Right, there are, but be aware that those are limiting the demo trials to 30 days, so keep an eye out if your data is still updating by the end of the period. Another thing I noticed is that if you place some dummy trades on it the period gets extended, as if they see you are really trying/working with it.
I used Broco for some time.

Afterall, they hope you fund with real money and don't want to discourage you.
  • #626
  • Dec 14, 2009 2:17am Dec 14, 2009 2:17am
Quoting Nagpada
Does anyone know if any brokers provide data i.e. futures, comodities, etf etc. for the MT 4 platform or is it limited to just forex data.

Thanks and appreciate all replies.
Try STS Finance also known as Bilbrokers.

Cheers
  • #627
  • Dec 14, 2009 5:21am Dec 14, 2009 5:21am
So how is every doing with the renko trading?

Everyones gone all quiet (on the trading front), any more ideas? Other indis?

Good trades??!

Anything? Or has the novality worn off.....
  • #628
  • Dec 14, 2009 9:29am Dec 14, 2009 9:29am
One more question, Pippo. Could you elaborate a little about your use of stops? I understand raising one brick at a time, but what do you use for a hard stop? How many bricks back is your stop?

Are you still ahead with this method?

Murph.

Quoting Pippopotamus
I don't get it. Why all the indicators? For two months I have kept meticulous records of trading E/J using only: DUU=buy, and UDD= sell. Trading hrs. are London open until one hr. before London close. Oct. 2 through today. Renko size is .07 x daily ATR 90, lately,about .14, or 14 if you like. TP is 6 boxes. I trail my position, jumping the stop one box each time a box is gained, until TP is reached. If TP not hit, simply reverse on triggering formation, as above. With about 2 pips slippage/spread per trade (I use IB, E/J is normally 1 pip spread)...
  • #629
  • Edited 6:35pm Dec 14, 2009 5:54pm | Edited 6:35pm
Quoting Pippopotamus
I don't get it. Why all the indicators? For two months I have kept meticulous records of trading E/J using only: DUU=buy, and UDD= sell. Trading hrs. are London open until one hr. before London close. Oct. 2 through today. Renko size is .07 x daily ATR 90, lately,about .14, or 14 if you like. TP is 6 boxes. I trail my position, jumping the stop one box each time a box is gained, until TP is reached. If TP not hit, simply reverse on triggering formation, as above. With about 2 pips slippage/spread per trade (I use IB, E/J is normally 1 pip spread)...
I have two questions, Pippo:

What is your initial stop (how far from open price)?

How many periods for the ATR (standard is 14, I think)?

Your testing sounds good - hope it continues

Lou G

EDIT: Did a little digging and found the answer to my second question - the first question is still open.
Old Benjamin was right
  • #630
  • Dec 15, 2009 4:00am Dec 15, 2009 4:00am
Thanks Lou for all the information.

Been testing Renko on my live account, so far so good. I'm using 20pips and stop loss of 45 pips (2 bricks). My entry is usually on the 3rd brick. TP is based on support/resistance.

I'm using Renko with Ichimoku.
  • #631
  • Edited 9:27am Dec 15, 2009 9:02am | Edited 9:27am
Quoting Lou G
I have two questions, Pippo:

What is your initial stop (how far from open price)?

How many periods for the ATR (standard is 14, I think)?

Your testing sounds good - hope it continues

Lou G

EDIT: Did a little digging and found the answer to my second question - the first question is still open.
Lou,
I still have question about your second question to him, on how did he come up with that formula or equation for determining the proper renko brick sizes to use?
& How it may be better than using a standard fixed renko brick size?
i.e. 10, 15, 20, 25 etc...

Did a quick check of ATR90 on daily eurjpy chart x .07 would yield a 11 pip renko bricks as of 10am est.
Is this correct?

PS:
Attached current eurjpy 11 pip renko chart below:
Think there is a bear in the very near future according to zup83.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 11 pip renko chart 12-15-09 10_15 am.gif Size: 20 KB
Click to Enlarge Name: eurjpy watch out for bears ahead.gif Size: 30 KB
  • #632
  • Edited 11:37am Dec 15, 2009 10:55am | Edited 11:37am
Go to Barchart.com. Find 20 day ATR for E/J multiply by .08... 1.780x.08=.1424. I have used this calculation throughout most of my testing and trading. The box size has been at 14 for weeks. I left something out of my original post that should be included. I am sorry for any inconvenience. There is, and has always been, a First Failure rule employed with this method. Existing points of reversal are not traded. For example if DUU, and pattern completion price is at a point where price reversed once before (did not make a continuation), no trade is entered until a continuation of one more box takes place...DUUU. Once again, sorry for any inconvenience, and remember, this is not trading advice, only the way I trade Renko. A clarification...on IB Historical charts 90 day ATR is, as of today, 1.9756. X .07=.138392, or .14.
Vincit qui se vincit.
  • #633
  • Edited 11:17am Dec 15, 2009 11:02am | Edited 11:17am
Quoting Pippopotamus
Go to Barchart.com. Find 20 day ATR for E/J multiply by .08... 1.780x.08=.1424. I have used this calculation throughout most of my testing and trading. The box size has been at 14 for weeks.
Thanks for the info Pippopotamus,
I think someone else already asked you this next question, but you may have missed it.
Do you find the wicks on renko bricks at all useful?

Haven't found the fx charts yet at barchart.com so was wondering, if you know is it also possible to find the 20 day ATR using MT4 too?
May help me to undersand exactly how your comming up with 14 pip bricks, funny because I also been using some 14 pip renko bricks the last couple of days to, before I even read your post I think, but think I came up with it more out of intuition than math.
  • #634
  • Edited 1:10pm Dec 15, 2009 11:15am | Edited 1:10pm
of little use. I must add, there are no fixed stops as such. This is a stop and reverse method.
Vincit qui se vincit.
  • #635
  • Dec 15, 2009 11:47am Dec 15, 2009 11:47am
Hi guys!!

Somebody here knows me...and somebody not..

I was one of the followers of the original C4 and Nitro thread...

In those days i was active also in trying to make an EA to trade Nitro...i made it...but i didn' really knew what i made...

This because i had not the chance of backtest with Renko...i used my EA in realtime but only for a few trades...and then i was demoralized because of a few lost trades...

Today i decided to try to backtest with Renko...now i know i can do it...and i had a big surprise watching my EA's results...
I have to say that with MACD Sample EA i have a good result...but my Nitro Detonator EA in backtest overperforms MACD.

I would like to share with you the images of my backtest...i don't really know if in realtime we can have the same results...
In this backtest i have used EURJPY 10tick renko bricks...1 standard lot, SL 30 pips and TP 30 pips, with a trailing stop of 10 pips... so basically a 1:1 risk/reward...it's not scalping...

As i said...i found me very surprised for the results...i have not done an optimization...maybe it can do even better...

And more...my EA has a bug because it takes only long positions...i don't know why...teorically if i fix the bug it does even better...

The period of backtest is restricted...from 2009.07.10 to 2009.09.16...
It has doubled the account...

I have also uploaded a file with the entire report, you have to rename it .htm (instead of .txt) to see it.

What do you think??
Attached Image(s) (click to enlarge)
Click to Enlarge Name: StrategyTester.gif Size: 6 KB
Click to Enlarge Name: report.GIF Size: 16 KB
Attached File(s)
File Type: txt StrategyTester.txt   271 KB | 514 downloads
Market is like a puzzle, YOU have to fit the pieces!!
  • #636
  • Dec 15, 2009 11:55am Dec 15, 2009 11:55am
Don't want burst your bubble Chris, but I think renko chart backtest are very unreliable. I found an ea that looked to perform near 100% after I optimizing it several times a few weekends ago on a renko strategy back-tester, but in forward test it failed measurably.
Can you post your nitro ea so we can help you forward test &/or optimize it?
  • #637
  • Dec 15, 2009 12:00pm Dec 15, 2009 12:00pm
Quoting 45Fxguy
Don't want burst your bubble Chris, but I think renko chart backtest are very unreliable. I found an ea that looked to perform near 100% after I optimizing it several times a few weekends ago on a renko strategy back-tester, but in forward test it failed measurably.
Can you post your nitro ea so we can help you forward test &/or optimize it?
Yes...i will post it in the next hours...but i want to fix that bug first...

I also don't know if i can trust in renko backtest...but we can try to run it in forward test...

At the Nitro age i used it with 5tp and 30 Sl and it was not good..so we have to try with 30/30 and trailing...
Market is like a puzzle, YOU have to fit the pieces!!
  • #638
  • Dec 15, 2009 12:12pm Dec 15, 2009 12:12pm
Quoting Chris_B
Yes...i will post it in the next hours...but i want to fix that bug first...

I also don't know if i can trust in renko backtest...but we can try to run it in forward test...

At the Nitro age i used it with 5tp and 30 Sl and it was not good..so we have to try with 30/30 and trailing...
Sounds good thanks for the very quick update.
  • #639
  • Dec 15, 2009 12:13pm Dec 15, 2009 12:13pm
Ok...it seems that i fixed it...but i'm not sure...

Here's an image with long & short positions...

And the version 1.0 of the EA...
I made this EA some months ago...so it has some limitations as i did not improve it....
Please note:

You need to have the attached indy oTRIX.ex4 in your indicators folder to make the EA work...

It's not 5digits ready so if you use a 5digits broker you have to put 300 for TP and SL and 100 for trailing.

DON'T USE IT WITH A REAL ACCOUNT...IT COULD BLOW IT!!!

The more we test it the more we can say if it works or not..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: TesterGraph2.gif Size: 7 KB
Click to Enlarge Name: report2.GIF Size: 19 KB
Attached File(s)
File Type: ex4 NitroDetonator1.0.ex4   8 KB | 856 downloads
File Type: ex4 oTRIX.ex4   6 KB | 946 downloads
Market is like a puzzle, YOU have to fit the pieces!!
  • #640
  • Dec 15, 2009 12:51pm Dec 15, 2009 12:51pm
Sorry, what's this Nitro Detonator EA do exactly?
You are in a maze of twisty little passages, all alike.
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