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Trading Renko

  • #641
  • Dec 15, 2009 1:16pm Dec 15, 2009 1:16pm
Quoting stevegee58
Sorry, what's this Nitro Detonator EA do exactly?
It can trade on renko charts for you.
Uses trix & MA 8 Linear Weighted closed (HLCC/4).
Made a quick template from a visual back-test.
This is how it looks on 14 pip renko bricks.
I added the level lines, but not sure they are really needed.
Just wonder if Chris had tried adding any to the ea to maybe help filter out ranging markets especially when using smaller renko brick sizes.

These aren't real level lines but just red horizontal line which are adjustable, just double click & drag, double click again deselects them.
Attached Image (click to enlarge)
Click to Enlarge Name: ! # chris nitro ea template.gif Size: 23 KB
Attached File(s)
File Type: tpl ! # chris nitro ea template.tpl   3 KB | 543 downloads
  • #642
  • Dec 15, 2009 1:29pm Dec 15, 2009 1:29pm
Quoting 45Fxguy
It can trade on renko charts for you.
Uses trix & MA 8 Linear Weighted closed (HLCC/4).
Made a quick template from a visual back-test.
This is how it looks on 14 pip renko bricks.
I added the level lines, but not sure they are really needed.
Just wonder if Chris had tried adding any to the ea to maybe help filter out ranging markets especially when using smaller renko brick sizes.

These aren't real level lines but just red horizontal line which are adjustable, just double click & drag, double click again deselects them.
No...i did not try to add other filters...this EA is really basically what original Nitro Strategy was...a simple trix cross and a simple Ma cross...

I was not using renko from some months...just tried to backtest this old EA for curiosity :-)

Why don't we test it in realtime for some days?? Maybe we can see if it reflects the backtest...
Market is like a puzzle, YOU have to fit the pieces!!
  • #643
  • Dec 15, 2009 2:43pm Dec 15, 2009 2:43pm
Ok...the good news is that my firts EA trade has been profitable
+ 30 pips

The bad news is that trailing stop doesn't work properly...i have to understand why... in backtest it works...and in real time it doesn't work...
Attached Image (click to enlarge)
Click to Enlarge Name: renko.gif Size: 22 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #644
  • Dec 15, 2009 3:34pm Dec 15, 2009 3:34pm
Quoting Chris_B
Ok...the good news is that my firts EA trade has been profitable
+ 30 pips

The bad news is that trailing stop doesn't work properly...i have to understand why... in backtest it works...and in real time it doesn't work...
Don't have mt4 open right now, but my 1st demo trade it took won with 10 pips not 30.
  • #645
  • Edited 4:44pm Dec 15, 2009 4:05pm | Edited 4:44pm
Guys,

as 45Fxguy has already mentioned, backtesting in Renko is really inaccurate, the opening prices are wrong at a trend reversal bar, fooling the MT4 backtester and nearly always giving you a more favourable outcome than it would have done in real life.
One days forward testing and you'll soon see. If we could avoid entering on a trend reversal bar, maybe there is hope.

Chris_B , I've played about with various EA's on renko, I can say that optimizing the TP, SL, and trailing stop won't be much good either, because the starting point of the trade is usually wrong in the Strategy Tester, due to the trend reversal bar problem again. If you tried adding a simple ''Opposite close'' option you might see better/more realistic results in forward testing.

Don't be discouraged, I still think a simple EA trading on Renko, with all it's noise eliminating qualities, could be a real winner! No matter what the market conditions it could make money. Maybe this will be that EA

The only way to test an EA and settings is by a forward test on Renko charts. Also, If I have advice about filters, I would keep the EA as Simple as possible, many common MT4 filters don't like renko, I've found even a simple Stoch to perform quite unusually within an EA on Renko.
  • #646
  • Dec 15, 2009 4:14pm Dec 15, 2009 4:14pm
Quoting xirtam
Guys,

as 45Fxguy has already mentioned, backtesting in Renko is really inaccurate, the opening prices are wrong at a trend reversal bar, fooling the MT4 backtester and nearly always giving you a more favourable outcome than it would have done in real life.
One days forward testing and you'll soon see. If we could avoid entering on a trend reversal bar, maybe there is some hope.

The only way to test an EA and settings is by a forward test on Renko charts.
That's my fear...this is because i will test it in real time the more that i can..
Market is like a puzzle, YOU have to fit the pieces!!
  • #647
  • Dec 15, 2009 4:15pm Dec 15, 2009 4:15pm
Quoting 45Fxguy
Don't have mt4 open right now, but my 1st demo trade it took won with 10 pips not 30.
I don't understand...10 pips because 10 was your TP or because it took the trailing stop??
Market is like a puzzle, YOU have to fit the pieces!!
  • #648
  • Dec 15, 2009 4:34pm Dec 15, 2009 4:34pm
Quoting Chris_B
I don't understand...10 pips because 10 was your TP or because it took the trailing stop??
I should have looked a little closer, but looks like the trailing stop was hit at +1 pip.
I may try to give it a little more room to breath or not use the trailing stop at all.
Attached Image (click to enlarge)
Click to Enlarge Name: ! # chris nitro ea ts hit at 10.gif Size: 53 KB
  • #649
  • Dec 15, 2009 4:41pm Dec 15, 2009 4:41pm
Quoting 45Fxguy
I should have looked a little closer, but looks like the trailing stop was hit at +1 pip.
I may try to give it a little more room to breath or not use the trailing stop at all.
Ok...this means that trailing works...in my trade it did not work...i had to move the stop manually...but it can be a problem of my mt4...

Yes you can choose to not use trailing, in your case the trade went in the right direction...but trailing many times prevents from a loss after the trade is gone in the right direction...

I'm trying to use in real time the exact same parameters that i used in my backtest, because i want to see if the results are near or are very different...
Market is like a puzzle, YOU have to fit the pieces!!
  • #650
  • Dec 15, 2009 4:52pm Dec 15, 2009 4:52pm
Quoting Chris_B
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...


what is the ea's buy and sell conditions?
  • #651
  • Dec 15, 2009 5:00pm Dec 15, 2009 5:00pm
Chris_B

Could you post the Mq4 file of the EA or make the MA figure changable.
  • #652
  • Dec 15, 2009 5:17pm Dec 15, 2009 5:17pm
Hi, good to see some life in Renko.

I have a question about backtesting of Renko. I have given up trying to back test using the usual back testing techniques but I am interested in how effective that do people find visual backtesting.

That is going back over a period of time and doing block by block eyeball testing and then how accuratley does the visual backtest seem to work with forward testing.

Any thoughts welcome.

Chris, a thought with using the trix for 1 block scalping in Renko . My many hours of playing with renko and many indicators ( in the 000's) suggest that the trix ( even at low settings) is often one block too slow confirming the signal. I think the simple cross of the ema 1 and 2 or even 1 and 3 gives a better signal.


rgds
Peter
  • #653
  • Dec 15, 2009 5:29pm Dec 15, 2009 5:29pm
Quoting peterke
Hi, good to see some life in Renko.

I have a question about backtesting of Renko. I have given up trying to back test using the usual back testing techniques but I am interested in how effective that do people find visual backtesting.

That is going back over a period of time and doing block by block eyeball testing and then how accuratley does the visual backtest seem to work with forward testing.

Any thoughts welcome.

Chris, a thought with using the trix for 1 block scalping in Renko . My many hours of playing with renko and many indicators...

Peter,

Perhaps in this case, been 1 bar late could be an advantage, keeping the EA out of the intial trend reversal bar.
  • #654
  • Edited 2:57am Dec 16, 2009 2:28am | Edited 2:57am
The second Ea's trade has been stopped by the trailing stop at +5 pips...

EDIT: What a shame!! After the trailing stop...the price have done 3 new bricks in the right direction :-)
The signal was right...
Attached Image (click to enlarge)
Click to Enlarge Name: renko2.gif Size: 25 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #655
  • Dec 16, 2009 2:29am Dec 16, 2009 2:29am
Quoting xirtam
Chris_B

Could you post the Mq4 file of the EA or make the MA figure changable.
I will do...
Market is like a puzzle, YOU have to fit the pieces!!
  • #656
  • Dec 16, 2009 2:38am Dec 16, 2009 2:38am
Quoting peterke

Chris, a thought with using the trix for 1 block scalping in Renko . My many hours of playing with renko and many indicators ( in the 000's) suggest that the trix ( even at low settings) is often one block too slow confirming the signal. I think the simple cross of the ema 1 and 2 or even 1 and 3 gives a better signal.


rgds
Peter
Hi...probably you don't know...but i've been one of the first users in this forum using renko, when the Nitro strategy was proposed, Nitro was based on scalping only 1 brick using trix...
Yes..you can do it...but you have to accept a poor risk/reward... 30/5 or 30/10 for example.
That's not my style...i did it...but it was very stressful!!
I ensure you that at the Nitro age we tried all kind of indicators to improve the trategy...

Now...it's not my goal to rebuild entirely my EA...i just tried to backtest it...and i saw good results using those parameters 30 SL 30 TP and 10 trailing...that's all...now i'm testing in realtime...only if the results are near to backtest i will have faith in the EA and probably i will put some time to improve it...
Market is like a puzzle, YOU have to fit the pieces!!
  • #657
  • Dec 16, 2009 10:48am Dec 16, 2009 10:48am
Here's trades Chris's nitro ea took overnight, didn't see it make any new trades all morning for some reason.

These were made on 14 pip renko bricks, what would you recommend Chris?
Attached Image (click to enlarge)
Click to Enlarge Name: chris nito ea overnight test results.gif Size: 52 KB
  • #658
  • Dec 16, 2009 11:13am Dec 16, 2009 11:13am
Quoting 45Fxguy
Here's trades Chris's nitro ea took overnight, didn't see it make any new trades all morning for some reason.

These were made on 14 pip renko bricks, what would you recommend Chris?


First of all...i don't guarantee nothing
Then...even in th backtest the EA more than 1 time had 4 consecutive losses...and if you use it on more pairs this number of losses can be higher...
Then...i've backtested it only with EURJPY...so i don't guarantee nothing on other pairs...
Then...i use the commercial renko script and i don't use wicks...i don't know if it affects EA results...
And then..i use 10pips bricks....

There are many differences in the way i'm testing it...

Anyway my forward test until now only on EURJPY 10pips bricks is this:

trade 1. +30 pips
trade 2. +5 pips (trailing stop)
trade 3. -12 pips (stop & reverse)
trade 4. short and open at the moment
Market is like a puzzle, YOU have to fit the pieces!!
  • #659
  • Dec 16, 2009 11:41am Dec 16, 2009 11:41am
Chris, looks like a fun toy! Looking forward to the demo. I am also using the commercial Renko version.

Could you give a little more information about setting this up?

I assume I should open a Renko chart first. Start with a 1M , attach Renko then open the offline version? Than attach your EA to that?

Just want to make sure I understand

Thanks.

Murph.


Quoting Chris_B
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...
  • #660
  • Dec 16, 2009 12:01pm Dec 16, 2009 12:01pm
Quoting MurphyMan
Chris, looks like a fun toy! Looking forward to the demo. I am also using the commercial Renko version.

Could you give a little more information about setting this up?

I assume I should open a Renko chart first. Start with a 1M , attach Renko then open the offline version? Than attach your EA to that?

Just want to make sure I understand

Thanks.

Murph.
Yes!! All right!! I'm using 10 pips brick size for renko

For the EA i'm testing with 30 TP, 30 SL and 10 Trailing...

In the next hours i will post an updated version of the EA...just a few improvements...but no changes in buy/sell rules..
Market is like a puzzle, YOU have to fit the pieces!!
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