It would not use such an EA with a real account...until i find a way to have a better risk/reward and mantain a high hit rate...not a simple thing to achive..
Ignored
The first thing that i will try is to set TP to 7pips and SL to 20pips... watching renko charts with wicks it seems that the most of the times when the signal is good...the price never retraces more than 15/20 pips...and if the signal is good at least 1 new brick is creted...so i think that i can be a good compromise...let's see the results in the next days..
Market is like a puzzle, YOU have to fit the pieces!!
I don't know if your system enters in a trade at trend reversals or in established trends, but for entries at or around a trend reversal, you can set your entry price higher or lower in the opposite direction of reveling trend to improve risk/reward ratio. You'd only get in if market pulls back to your improved entry price. This usually improves R/R for trade entries at trend reversals because, those are the areas market becomes volatile and usually move to fill your order at improved entry.
BTW, can you briefly explain how you do backtesting using renkos? Since renkos charts are offline, I couldn't do it. I want to backtest my system to see if it recognizes certain setups, not for its hit rate.
I don't know if your system enters in a trade at trend reversals or in established trends, but for entries at or around a trend reversal, you can set your entry price higher or lower in the opposite direction of reveling trend to improve risk/reward ratio. You'd only get in if market pulls back to your improved entry price. This usually improves R/R for trade entries at trend reversals because, those are the areas market becomes volatile and usually move to fill your order at improved entry.
BTW, can you briefly explain how you do...
Ignored
Hi...yes my EA takes reversals...how can I set the EA to enter at a better price? This is a technical issue...so if you have a solution you can PM me...
To backtest with renko you have to use the script version of renko (i use the commercial one) and you can refer to this pdf created by Aktur...
Anyway...my 7/20 pips experiment is proceeding well for now...3 new trades...all wins...now i'm running the EA both on EURJPY and EURUSD
Orders must be limit orders instead of market orders. In OrderSend, order type should be either OP_BUYLIMIT or OP_SELLLIMIT , then you can set the limit price by a set amount below or above current bid/ask. And you may also want to tighten the slippage a little bit, preferably 0.
IMHO, market order is never a good idea anyway, especially for scalping. Even if you want to get in at current bid/ask, then sending a limit order at current bid/ask is the way to go, instead of leaving your money at the mercy of the market.
by the way, i think 5 pip box size for renko wonīt ever work. no noise is really filtered out, i just put all my renko charts to 7 euusd 8 gbpusd and 10 usdcad + audusd. looks a lot nicer.
regarding spreads: i am now with fxpro, think spreads canīt get any better than that.
Ignored
Be careful. Fxpro is based in Cyprus, a wannabe offshore financial center, like Cayman Islands. Their financial laws are proprietary and do not resemble to that of US. So, in a crisis similar to what happened in Dubai, they can close shop and run with your money anytime, and you can't do a thing about it.
Be careful. Fxpro is based in Cyprus, a wannabe offshore financial center, like Cayman Islands. Their financial laws are proprietary and do not resemble to that of US. So, in a crisis similar to what happened in Dubai, they can close shop and run with your money anytime, and you can't do a thing about it.
Ignored
Hello, Im a member of FxPro and respond to comments or questions about FxPro in forums and other social media.
As a result, I read your comment about FxPro, which sadly is unjustified and completely misrepresents our financial, regulatory and legal compliance.
I would therefore like to point out that FxPro is authorised and regulated by the Cyprus Securities and Exchange Commission (license number 078/07). CySEC (http://www.cysec.org.cy) is the regulatory and supervisory authority for the financial services industry in Cyprus and is a member of the CESR (The Committee of European Securities Regulators) http://www.cesr.eu/
Our company complies with the European Markets in Financial Instruments Directive (MiFID) http://ec.europa.eu/internal_market/...d/index_en.htm and operates under the Cypriot Investment Services and Activities and Regulated Markets Law of 2007 (Law 144(I)/2007).
We are also a member of the Investor Compensation Fund and more info about this can be seen here: https://www.fxpro.com/compensation-fund.html
I am trying to understand the ongoing facination with scalping. Scalping for a few pips when there are cost involved. More so especially with renko that catches long trends.
So the question then is do you trade to add excitement to your life or do you trade to make money.
On a seperate note. How does one avoid a sideways market. I can think of two ways
1. Multiple indicators on one box size chart ie. 10 box. Preferably a consolidated multi indicator such as xpma.
2. Multiple box sizes displayed on one box size chart. ie. MTP renko indicator by forexflash. Would be more informative if displayed as historical bars.
Anyone wanting to add their thoughts to this topic please feel free to post.
One of the draw backs with renko charts is that there are so few indicators written specifically for renko trading and even fewer programmers willing to tackle the challange. I contacted 2 commercial programmers who post often on both this forum and tsd forum and neither wanted to take on the project that I was willing to pay for. Hmmm.
I have an EA that I attached to a chart to see how well it works. It ended up doing a variety of things that it should not be doing ie. SL greater that buying price etc. etc. The original concept is good but the programmer never tested it to see that it works. Pity. First getting it to work and then with a few more ongoing modifications it could turn out to be a outstanding EA off a very simple concept. I am not a programmer so I am stuck. Oh well.
I have an EA that I attached to a chart to see how well it works. It ended up doing a variety of things that it should not be doing ie. SL greater that buying price etc. etc. The original concept is good but the programmer never tested it to see that it works. Pity. First getting it to work and then with a few more ongoing modifications it could turn out to be a outstanding EA off a very simple concept. I am not a programmer so I am stuck. Oh well.
Ignored
Why not post your ea & your ideas to improve it & or start a thread under the programming discussion section?
Have you tired doing the same with a manual trading system, & if so for how long & what is your win loss ratio etc? I'm sure you won't have that much trouble finding a coder if you can proof it up 1st. I know that's the hard part, but you can't really skip that step.
Rather than let this interesting thread die I thought of mentioning it hear. I saw that it was a long time since the last posting and feaed it's demise. I trade the same concept manually but miss many a good trade The EA is XPma EA and is ment to trade the color change. No trade on yellow. But it does not do so correctly. With a bit of tinkering and a martingale concept added it should peform just fine. The longest loosing sequence caused by sideways trend (wipsaw ) I have encountered in manual back testing and live observation is 7.
Why not post your ea & your ideas to improve it & or start a thread under the programming discussion section?
Have you tired doing the same with a manual trading system, & if so for how long & what is your win loss ratio etc? I'm sure you won't have that much trouble finding a coder if you can proof it up 1st. I know that's the hard part, but you can't really skip that step.
Ignored
I think I might try my local community collage to find a CS student proficiant in C or C++ to work on the project. They will be cheaper and might be more willing to work on a challanging project. In all this time that this thread has been in existance not much luck with a willing coder.
I think I might try my local community collage to find a CS student proficiant in C or C++ to work on the project. They will be cheaper and might be more willing to work on a challanging project. In all this time that this thread has been in existance not much luck with a willing coder.
Ignored
Just post it on the programming discussion thread.
I had an ea done for me for 30 $ once. And between 50 - 100 $ you can get almost anything programmed into an ea here.
Maybe try oksana17.
Rather than let this interesting thread die I thought of mentioning it hear. I saw that it was a long time since the last posting and feaed it's demise. I trade the same concept manually but miss many a good trade The EA is XPma EA and is ment to trade the color change. No trade on yellow. But it does not do so correctly. With a bit of tinkering and a martingale concept added it should peform just fine. The longest loosing sequence caused by sideways trend (wipsaw ) I have encountered in manual back testing and live observation is 7.
Ignored
You could always post your template & indis here & explain your setup.
That might help keep this thread alive.
Just post it on the programming discussion thread.
I had an ea done for me for 30 $ once. And between 50 - 100 $ you can get almost anything programmed into an ea here.
Maybe try oksana17.
Ignored
Thanks for the cost breakdown info. Have you used oksana17 ? There seems to be some negative comments posted on him. Maybe people expecting too much of him. But what bothers me is questions of his integrity.
So far the max loosing sequence 7 ( wipsaw ) No trade on yellow. I trade 20 pip blocks. SL 40 pip. TS 60. Exit on colour change. Simple.
Increase lots traded by 1 for every 2 loosing trades. .04 -> .05 etc.
if you guys can use non time based indicators, ones that don't include a period parameter (something that counts the number of bars instead of the number of days) then you'd be heading in the right direction
what i mean is this:
using any indicator like for instance say macd. uses periods in the form of days, where renko has no time frames at all.
so an indicator that uses the number of bars might be better suited for these types of charts.
