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Trading Renko

  • #781
  • Apr 12, 2010 5:04am Apr 12, 2010 5:04am
i cant find any profitable,consistent system for renko so far.
neverthless i like renko.moving averages may make fake moves.
resistance and support levels must be determined.
  • #782
  • Apr 26, 2010 6:39am Apr 26, 2010 6:39am
Does anyone have a excel sheet for renko
that you can test differant box sizes and test for how many consecutive box
in a row are up or down on average
  • #783
  • Apr 26, 2010 8:48am Apr 26, 2010 8:48am
Quoting fantom
what sort of renko is this.
it seems renko with tail
You can turn the tails off/on if you want to.
  • #784
  • Edited 12:55pm Apr 30, 2010 8:54am | Edited 12:55pm
Has anyone tested this live?? It seems to have some real good potential.

Add the 20 rsi as the standard trend confirmation
and see what you think.. hmmmm

(Personally I use mtf adx and momentum as well)

Be cool to see some new ideas put together with this base

Brian

Quoting Zurathustra
Having seen your setup I made a few adjustments that I think you may be interested in taking a look it....
  • #785
  • May 12, 2010 1:07pm May 12, 2010 1:07pm
Every restart of mt4 displays a slightly different chart. Suggerted modifications would be:

1. Getting the calculations to start from same point or zeros to yeald identical chart patterns everytime.

2. Getting an alarm to sound block changes direction.
  • #786
  • May 12, 2010 1:46pm May 12, 2010 1:46pm
Quoting Zurathustra
Having seen your setup I made a few adjustments that I think you may be interested in taking a look it. I think its a lot easier to see at a glance what you should or should not be doing. I also like the fact that you can set NoLagMA to give a signal on direction change.

10 PiP Renko Bricks

NoLagMA v7.1
0
13
0
1.0
1
0
0.0
1
0

Pj-Over RSI
8 55 45
Colors: Darkgreen, Red, Yellow, Yellow

Sell only when RSI is Red and NoLag is "Down"
Buy only when RSI is green and NoLag is "Up"
Yellow RSI is warning sign for direction change (a good place...
Been a while since you'll posted your system of trading. How is it performing. Could you'll please post your trading data.

Thanks
  • #787
  • May 14, 2010 2:49pm May 14, 2010 2:49pm
This is my equity chart from 14th april to 14th may. using only stoch and price action on 2 different box levels. Profit factor 1.55. I do hope that there is some followup so we can endevour to improve. I for one would like to improve the profit factor which i have slowly been able to do, by working on my ability to follow my preset rules. It is the difficult part.

One drawback of the present renko indicator is that it draws a slightly different picture with every restart. Any ideas on what could be done to ancor the start point ?
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  • #788
  • Jun 6, 2010 9:29pm Jun 6, 2010 9:29pm
Hello,

Thanks for this great thread but I am still having the double bars problem with the renko charts. I know this happened once before and the EA was updated but there still seems to be a problem.

Solutions anyone?
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  • #789
  • Jun 16, 2010 8:45pm Jun 16, 2010 8:45pm
I've just finished reading this great thread on Renko. Thanks everyone for their contribution.

Looks like Renko works well just on price action.

I want to ask someone here, I see some renko charts with wicks so what is that indi and why do you have that please? (I may have missed it in my reading)
  • #790
  • Jun 17, 2010 5:33pm Jun 17, 2010 5:33pm
Hi Lou

I read this forum, and thank you and all contributors, would u or some1 suggest me which commercial version for renko indicator is reliable and from where to purchase it

Thanks and Cheers
  • #791
  • Jul 8, 2010 9:14am Jul 8, 2010 9:14am
for anyone interested in seeing different sized Renko charts for GBPJPY:

http://www.forexfactory.com/showthread.php?t=244938
Time flies like an arrow; fruit flies like a banana.
  • #792
  • Jul 9, 2010 6:08pm Jul 9, 2010 6:08pm
Quoting Nagpada
This is my equity chart from 14th april to 14th may. using only stoch and price action on 2 different box levels. Profit factor 1.55. I do hope that there is some followup so we can endevour to improve. I for one would like to improve the profit factor which i have slowly been able to do, by working on my ability to follow my preset rules. It is the difficult part.

One drawback of the present renko indicator is that it draws a slightly different picture with every restart. Any ideas on what could be done to ancor the start point ?
Hi

I'm a renko demo trader
my demanding job doesn't allow me to trade as I wish,but my results are very good

my approach is very similar

I use Renko box 10 pips and 20 pips
I trade on 10 pips chart,with stoch 10,3,3(levels 70 and 30) and MACD no histogram 10,18,7.
Before entering a trade,I ALWAYS check daily pivots and S1,S2,R1,R2 on Freestockcharts Website for that pair

it works
Account deleted
  • #793
  • Jul 10, 2010 5:59am Jul 10, 2010 5:59am
Quoting swissforex
Hi

I'm a renko demo trader
my demanding job doesn't allow me to trade as I wish,but my results are very good

my approach is very similar

I use Renko box 10 pips and 20 pips
I trade on 10 pips chart,with stoch 10,3,3(levels 70 and 30) and MACD no histogram 10,18,7.
Before entering a trade,I ALWAYS check daily pivots and S1,S2,R1,R2 on Freestockcharts Website for that pair

it works
Nice strategy, how do you use the 20 pip chart...? Just for general direction?

Cheers, San.
  • #794
  • Jul 12, 2010 6:51am Jul 12, 2010 6:51am
Quoting toddanderson
Does anyone have a excel sheet for renko
that you can test different box sizes and test for how many consecutive box
in a row are up or down on average

I have it in Matlab, but it's not hard to do in excel by yourself. You'll need to understand how to write a loop though bc you have to iterate through each price to say 'if next price is more than X pips from the last price, then record the new price, otherwise, copy the last price.
Time flies like an arrow; fruit flies like a banana.
  • #795
  • Jul 16, 2010 11:33am Jul 16, 2010 11:33am
This renko system was posted durning the week on the forum, For some reason the thread which was started by a comercial menber was bined, If any ony got a chance to copy the rules I think here would be a good place to share them..
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  • #796
  • Jul 18, 2010 7:36am Jul 18, 2010 7:36am
Quoting rebelheart
This renko system was posted durning the week on the forum, For some reason the thread which was started by a comercial menber was bined, If any ony got a chance to copy the rules I think here would be a good place to share them..
That blue indicator looks something like Heiken Ashi Smoothed set to high periods like 120 and 8......etc......
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  • #797
  • Jul 18, 2010 5:00pm Jul 18, 2010 5:00pm
The system was to take a trade on a change of HA, I think the SL was 20 and TP 80... Im planing on keeping an eye on this over the next few weeks, took the colour change trade on demo.. renko is Five on M2 off line..
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  • #798
  • Jul 20, 2010 8:31am Jul 20, 2010 8:31am
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  • #799
  • Jul 21, 2010 1:12am Jul 21, 2010 1:12am
Quoting Snowski
Nice strategy, how do you use the 20 pip chart...? Just for general direction?

Cheers, San.
Hi


sorry for late reply


yes,and 20 pips are good for testing on more volatility pairs

u can trade just a 10 pips Renko Box with most of the pairs

I suggest u to check out volatility for each pair on Mataf
Account deleted
  • #800
  • Jul 23, 2010 10:20am Jul 23, 2010 10:20am
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