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Renko Trading For Gamers (RTFG)

  • #1,141
  • Jul 29, 2010 9:57pm Jul 29, 2010 9:57pm
Zurathustra,

I have been following your theory here and I think I might be able to help you. Can you send me a PM.

Shawn
  • #1,142
  • Jul 30, 2010 9:28am Jul 30, 2010 9:28am
Quoting ShawnC78
Zurathustra,

I have been following your theory here and I think I might be able to help you. Can you send me a PM.

Shawn
Well to be honest I'd rather keep any work on this out in the open so that everyone can contribute and benefit, so any help you can provide please feel free to share with everyone else here.

Though I personally feel this particular concept has hit a brick wall. I've tried it with larger and smaller renko bricks, with and without buffers, with and without trade delay timers. Always the same problem, getting destroyed on the spread as it crosses back and forth over the entry/exit parameters.

If that problem can/could be solved then this would be an amazing money making strategy.

Perhaps using a broker with 0 spread or a fixed commission where you can trade a large enough lot size but only pay a tiny commission rather then the spread..

Anyway, I'm all ears for you suggestion / advice.
  • #1,143
  • Jul 30, 2010 1:18pm Jul 30, 2010 1:18pm
I have been trading Renko for a few months and I really prefer it over "time-based" charts. I was observing a Eur/Usd chart to see how your theory comes into play. One thing I have noticed that after a Renko bar closes and when a "new" bar begins the "Open" price seems to change back and forth until it closes. How are you getting around this issue? I take it that is what you tried with the buffer?

When is the EA getting into the trades? I think you need to find an initial "trigger" something that happens "first" maybe an MA cross or certain levels from another indicator then the EA can then go after this Open/Close setup. This would certainly cut down on the number of trades and the spread issue as well. I do think this theory could work and has merit.
  • #1,144
  • Jul 31, 2010 3:33pm Jul 31, 2010 3:33pm
Quoting stevefx
Hi Pipster. The complete template is posted but you might not be getting all the pieces because some come from Mihailos work.

No problem, I've simplified the template into just the parts that you really need to work this system, which I will post below. I myself don't use anything else but what I'll attach below, no matter what is shown on my charts.

I trade off the 30 min chart, or the hourly. There is no point in trading off a smaller chart because trades are triggered by price crossing the pivot.

To let you know, the Channel indicator...
Thought I'd revisit this one this weekend in the trade simulator, & try adding a little more inter-trend channel scalping with Demarker and trendmagic on 5 min charts.
stevefx, would you like to start a separate thread with this setup, since this is mostly a renko trading discussion thread? It may find a better home else where.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: shi demarker tm pic 1.gif Size: 56 KB
Click to Enlarge Name: shi demarker tm pic 2.gif Size: 54 KB
  • #1,145
  • Aug 1, 2010 12:02pm Aug 1, 2010 12:02pm
Quoting ShawnC78
I have been trading Renko for a few months and I really prefer it over "time-based" charts. I was observing a Eur/Usd chart to see how your theory comes into play. One thing I have noticed that after a Renko bar closes and when a "new" bar begins the "Open" price seems to change back and forth until it closes. How are you getting around this issue? I take it that is what you tried with the buffer?

When is the EA getting into the trades? I think you need to find an initial "trigger" something that happens "first" maybe an MA cross or...
I'm not getting around that issue, thats what I'm talking about when I keep saying "Spread Death" or "Getting killed on spread". If I could eliminate that ONE problem, this system would be profitable, but I'll be damned if I can think of a way to do it.

As far as adding more filters or triggers, all that will accomplish is defeat the point of the concept, which is to get you in at the exact moment the direction changes.

I've tried trading renko using MA crosses, RSI, stoch's, fibs, etc, so on and so forth.. and frankly none of makes any real sense (to me) when applied to renko as "time" is a major factor in a majority of indi's out there; and renko removes "time" from the equation.
  • #1,146
  • Aug 1, 2010 6:43pm Aug 1, 2010 6:43pm
yes the bars dont depend on time directly but we all know time is very important as the bank programs push pairs quickly. You guys consistent with renko? I think they are useful. Few pips per bar.
  • #1,147
  • Edited 8:09pm Aug 1, 2010 7:19pm | Edited 8:09pm
Quoting stevefx
Hi Pipster. The complete template is posted but you might not be getting all the pieces because some come from Mihailos work.

No problem, I've simplified the template into just the parts that you really need to work this system, which I will post below. I myself don't use anything else but what I'll attach below, no matter what is shown on my charts.

I trade off the 30 min chart, or the hourly. There is no point in trading off a smaller chart because trades are triggered by price crossing the pivot.

To let you know, the Channel indicator...
Hi Steve, I loaded your indis and template. One problem I am having is with LC pivots. The yellow vertical "today" line moves with the bars as the day moves forward and does not draw the support lines. Any ideas? Never mind, I got it working now!
  • #1,148
  • Aug 1, 2010 7:25pm Aug 1, 2010 7:25pm
Hello guys,

I didnt post much here becouse i work on larger frame past six months but i see you have very good ideas,choise one and improve that to maxiimum and we will see results





Cheers
"Buy on fear, sell on greed !!!
  • #1,149
  • Edited 8:35am Aug 2, 2010 8:16am | Edited 8:35am
Check this out stevefx.

If it continues to do well this week I may have to open a new thread with this setup, but part of which is from old trendmagic thread.

If is risky, i.e. trade counter the SHI channel trend then I recommend reducing your risk by using a smaller lot size than usual.
Attached Image (click to enlarge)
Click to Enlarge Name: shi demarker tm pic 3.gif Size: 37 KB
  • #1,150
  • Aug 2, 2010 10:22am Aug 2, 2010 10:22am
Quoting Zurathustra
I've tried trading renko using MA crosses, RSI, stoch's, fibs, etc, so on and so forth.. and frankly none of makes any real sense (to me) when applied to renko as "time" is a major factor in a majority of indi's out there; and renko removes "time" from the equation.
Get rid of all those indicators. Add the vital ingredient - daily pivot points. Use 10 pip bricks. Wait for body of brick to close above pivot level (for long trade) and enter on the open of the next brick. Watch price action to take advantage of a small retracement. TP is a few pips shy of the next pivot level. Make pips everyday. I've put 100 pips in the bank today trading e/u, g/u and swissy.

Pivots from actionforex are accurate.
http://www.actionforex.com/markets/p...2010040848154/
  • #1,151
  • Aug 2, 2010 10:33am Aug 2, 2010 10:33am
Quoting SlushFund
Get rid of all those indicators. Add the vital ingredient - daily pivot points. Use 10 pip bricks. Wait for body of brick to close above pivot level (for long trade) and enter on the open of the next brick. Watch price action to take advantage of a small retracement. TP is a few pips shy of the next pivot level. Make pips everyday. I've put 100 pips in the bank today trading e/u, g/u and swissy.

Pivots from actionforex are accurate.
http://www.actionforex.com/markets/p...2010040848154/
Slush any chance you posting a few charts with enteries labelled..

All the best from Ireland

Danny
  • #1,152
  • Aug 2, 2010 10:39am Aug 2, 2010 10:39am
Quoting 45Fxguy
Check this out stevefx.

If it continues to do well this week I may have to open a new thread with this setup, but part of which is from old trendmagic thread.
First of all thanks to stevefx for the SHI Channel.

Hi 45Fxguy, do you know how to put the SHI Channel to a 50 pip renko bar? I cannot see anything whenever I add it?
  • #1,153
  • Aug 2, 2010 10:46am Aug 2, 2010 10:46am
Quoting rebelheart
Slush any chance you posting a few charts with enteries labelled..

All the best from Ireland

Danny
First up is the euro for 2 trades. I got out early on the 2nd one as I was OK with my daily total. It may go to R3 eventually.

Note that I prefer to use heiken ashi candles. They are 10 pip renko bricks. Why? Because 00 numbers are important psych levels.
Attached Image
  • #1,154
  • Aug 2, 2010 11:00am Aug 2, 2010 11:00am
2 trades on the pound. Note that the second trade turned against me. There are two ways to exit. You can either wait for a close of a colour change candle and then exit on the open of the next candle. On a 10 pip brick this means you would get stopped out for 30 pips plus spread if you had entered at the open. (That's why waiting for a retracement helps). I used to play it that way, but now I exit as soon as I see a colour change even though the candle hasn't closed.

That would save you about 10 pips loss. Of course it may just turn in your favour again, but I've found that generally the good trades don't retrace to a colour change. Saving that extra 10 pips on each loss soon makes a difference to your bottom line.

Please don't ask me about my results. I dont like playing that game on these forums.
Attached Image
  • #1,155
  • Aug 2, 2010 11:14am Aug 2, 2010 11:14am
"Please don't ask me about my results. I dont like playing that game on these forums."

LOL, was'nt going to ask that question, my gran use to say if it ain't your tail, don't wag it..

hope you can continue to post a few more examples when you have time durning the week..

Rebel
  • #1,156
  • Aug 2, 2010 11:30am Aug 2, 2010 11:30am
Quoting rebelheart
"Please don't ask me about my results. I dont like playing that game on these forums."

LOL, was'nt going to ask that question, my gran use to say if it ain't your tail, don't wag it..

hope you can continue to post a few more examples when you have time durning the week..

Rebel
Well, you know what I mean. Give a trading method to 10 different people and they'll come back with 10 different results.

Love Ireland by the way.
  • #1,157
  • Aug 2, 2010 5:44pm Aug 2, 2010 5:44pm
Quoting SlushFund
I used to play it that way, but now I exit as soon as I see a colour change even though the candle hasn't closed.
i use heiken ashi and pivots in my method, and an exit that i use a lot is: i close the trade if a bear candle closes (if i'm long). this does wonders for my average loss.

but now that you mention it, when a candle changes color it usually will close that way, and if i exited when i see that it could help a lot. i will definitely be observing this closely

thanks!
  • #1,158
  • Aug 2, 2010 9:04pm Aug 2, 2010 9:04pm
Quoting red01
First of all thanks to stevefx for the SHI Channel.

Hi 45Fxguy, do you know how to put the SHI Channel to a 50 pip renko bar? I cannot see anything whenever I add it?
No, don't think it works on bricks that large, but you may want to try this.
Attached File(s)
File Type: mq4 SHI_SilverTrendColourBars.mq4   4 KB | 671 downloads
  • #1,159
  • Aug 3, 2010 1:43am Aug 3, 2010 1:43am
2 good trade with Mihailo system,
Attached Image (click to enlarge)
Click to Enlarge Name: renko1.png Size: 63 KB
  • #1,160
  • Aug 3, 2010 2:36am Aug 3, 2010 2:36am
2 more good trade, G/U & E/J
Attached Image (click to enlarge)
Click to Enlarge Name: Renko2.png Size: 67 KB
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