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Renko Trading For Gamers (RTFG)

  • #1,181
  • Aug 7, 2010 12:38pm Aug 7, 2010 12:38pm
Quoting ES Trader
45FXguy,
I love your template for 50pip renko sytem. I have been trading 50 pips renko for last few days. I seem to either get out soon or make late entry.
Your tmplate looks great.

Can you please explain which arrow is the main indicator that you use to initiate the trade and which one you use to exit.

Looks like you also have arrows that shows adding to the trade.

Can you Please explain which arrows corresponds to which action?( There are many arrows)
Thanks for your help.

Kris
Thank you Kris,
I haven't been doing a lot of manual trading in the last couple of months, mostly just testing eas, but from what I've seen of the setup so far on 50 pip renko range bars is that the king trend signal is probably the most solid entry signal, the ma Cross could be for a confirmation or re-entry signal, and the KG looks to be a pretty good/early exit signal.
As far as I know none of these arrows repaint but I will double check this in the simulator today on 5 or 15 candles sticks charts.
If your using the setup on regular renko charts your stop loss may have to be almost triple your brick sizes to avoid getting your stops hit on wick back lashes. I think SL for the renko range bars, not regular renko, of 100 pips maybe okay with a 100 pip trailing stop, could help ride a longer trend if you catch the ride at the right time. I didn't test the setup Friday, I was trying my no indi buy/sell stop s/r of renko range bars which I previously posted, but all but one of those trades hit break even pips so I'm thinking of taking a more no indi approach for trading renko charts at this time, and this maybe the next best thing to finding a safe ea that can fully auto trade renko charts.
Then it should just be a matter of finding a good ea to manage the trades already opened by the buy/sell stop hits.
  • #1,182
  • Aug 7, 2010 5:25pm Aug 7, 2010 5:25pm
Quoting 45Fxguy
Thank you Kris,
I haven't been doing a lot of manual trading in the last couple of months, mostly just testing eas, but from what I've seen of the setup so far on 50 pip renko range bars is that the king trend signal is probably the most solid entry signal, the ma Cross could be for a confirmation or re-entry signal, and the KG looks to be a pretty good/early exit signal.
As far as I know none of these arrows repaint but I will double check this in the simulator today on 5 or 15 candles sticks charts.
If your using the setup on regular renko charts...
Thanks for your reply.
Infact I have been trading Renko just using candlebars. At 50 pip range the trend seem to continue at least for one more Renko bar assuring at least 50 pips. Hence I am trying to see whether an Ea can be developed just to trade candlestick bars. But sometimes in ranging market there are some losses. Psychologically this makes me lose interest in continuing the trade thus missing some long term trends that generate 300-400 pips. Hence the need to have an Ea, removing all emotions.
Kris
  • #1,183
  • Aug 7, 2010 5:32pm Aug 7, 2010 5:32pm
Mihalio system also seem to be great for 50 pip renko trading.

I was just wondering whether it is possible to create an MTF indicator( may be should be called Multi Pip Indicator) showing the RENKO 25 pip, 50 pip ,100 pip ,150 and 200pip streangth/weakness so that it may be easy to look at the higher PIP frame and trade the lower pip chart.
Just a thought!!
  • #1,184
  • Aug 7, 2010 9:53pm Aug 7, 2010 9:53pm
Quoting ES Trader
Mihalio system also seem to be great for 50 pip renko trading.

I was just wondering whether it is possible to create an MTF indicator( may be should be called Multi Pip Indicator) showing the RENKO 25 pip, 50 pip ,100 pip ,150 and 200pip streangth/weakness so that it may be easy to look at the higher PIP frame and trade the lower pip chart.
Just a thought!!
I think someone actually made an indicator like that before but it had/has some bugs if I remember correctly.

http://www.forexfactory.com/showpost...&postcount=221

I'll ask my friend Felix to take a look at the code when he has the time, maybe he can make improvements to it.

Can you be more specific, how exactly would you define or measure a renko bricks strength/weakness?
Attached File(s)
File Type: mq4 MTP_RENKO.mq4   47 KB | 973 downloads
  • #1,185
  • Aug 8, 2010 6:56am Aug 8, 2010 6:56am
Quoting 45Fxguy
I think someone actually made an indicator like that before but it had/has some bugs if I remember correctly.

http://www.forexfactory.com/showpost...&postcount=221

I'll ask my friend Felix to take a look at the code when he has the time, maybe he can make improvements to it.

Can you be more specific, how exactly would you define or measure a renko bricks strength/weakness?
For eg: If 100 renko brick is Bullish brick then you could take all long signals on 25 or 50 brick.
Hope it makes sense.
thanks
  • #1,186
  • Aug 9, 2010 3:33am Aug 9, 2010 3:33am
Hey Guys,
What minimum box size would you recommend for different currency pairs?
I think I've seen some using as low as 5 pips for EU & GU. How about pairs like GBP/JPY or others with bigger spreads or greater volatility?

Thanks for any advice.
Pipster
  • #1,187
  • Aug 9, 2010 4:43am Aug 9, 2010 4:43am
For some reasons, my 50 pip renko hangs in any MT4. Anyone knows why? Any solution? Thanks.
  • #1,188
  • Edited 12:09pm Aug 9, 2010 10:52am | Edited 12:09pm
I know this thread has dozens of renko type setups already submitted for test but had to post another for test on renko range bars 10 pip, since it also looks pretty good in visual back test.
Probably wouldn't be very hard to make an ea to use this setup, but it would definitely need a time filter, or monitored manually during a ranging markets to help it avoid getting beat up on the spreads.

PS:
Looks find on 4hr chats too, with kingtrend the larger arrows, 4ma price cross may repaint, but could be good early exit signals.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: MA of HA TM cross.gif Size: 39 KB
Click to Enlarge Name: ma of ha tm cross with kingtrend 4 hr.gif Size: 44 KB
Attached File(s)
File Type: tpl ma of ha tm cross.tpl   3 KB | 1,133 downloads
File Type: mq4 MAofHA_v1.mq4   4 KB | 1,485 downloads
File Type: mq4 CCI_Custom_candles.mq4   3 KB | 1,239 downloads
File Type: mq4 Trend Magic.mq4   2 KB | 1,280 downloads
File Type: mq4 #MA_Price_Cross1.1.mq4   5 KB | 1,286 downloads
  • #1,189
  • Aug 10, 2010 6:10pm Aug 10, 2010 6:10pm
Quoting 45Fxguy
I know this thread has dozens of renko type setups already submitted for test but had to post another for test on renko range bars 10 pip, since it also looks pretty good in visual back test.
Probably wouldn't be very hard to make an ea to use this setup, but it would definitely need a time filter, or monitored manually during a ranging markets to help it avoid getting beat up on the spreads.

PS:
Looks find on 4hr chats too, with kingtrend the larger arrows, 4ma price cross may repaint, but could be good early exit signals.

HI,

Quite visually simple indeed !,

from wich indicador are the yellow or purple arrows from

thanks
  • #1,190
  • Aug 11, 2010 6:19am Aug 11, 2010 6:19am
Quoting bleutneut
HI,

Quite visually simple indeed !,

from wich indicador are the yellow or purple arrows from

thanks
Thanks bleutneut,
That's the kingtrend signal arrow indi already posted in this thread.
You can find it under paper clip, or read back a page or two, & hide all images under the paper clip box probably the quickest way to find files on FF.
  • #1,191
  • Edited 6:39am Aug 11, 2010 6:25am | Edited 6:39am
Quoting red01
For some reasons, my 50 pip renko hangs in any MT4. Anyone knows why? Any solution? Thanks.
How many 1 min candles does your broker let you download?
Does your PC meet MT4's min system requirements?
If you have an older PC you may have to wait a while for it work in MT4 since it maybe maxing out your CPU usage, try removing all other charts & indicators and restarting windows & MT4, try, try again. Havn't heard of any problems with the renko chart making eas & indis etc in a very long time so it's most likely has something to do with your hardware.
Are you getting any out of disk space errors etc?
  • #1,192
  • Aug 11, 2010 6:30am Aug 11, 2010 6:30am
Quoting Pipster007
Hey Guys,
What minimum box size would you recommend for different currency pairs?
I think I've seen some using as low as 5 pips for EU & GU. How about pairs like GBP/JPY or others with bigger spreads or greater volatility?

Thanks for any advice.
Pipster
I generally just try to stay away from pairs/crosses with any spreads greater than 4 for any setup, simply because the wider the spreads are the less likely your setup is to hit your TPs. If you have found a setup with a very high hit rate on renko charts etc, it should completely depend on your own personal risk appetite of course.
  • #1,193
  • Aug 11, 2010 9:27am Aug 11, 2010 9:27am
Quoting 45Fxguy
I generally just try to stay away from pairs/crosses with any spreads greater than 4 for any setup, simply because the wider the spreads are the less likely your setup is to hit your TPs. If you have found a setup with a very high hit rate on renko charts etc, it should completely depend on your own personal risk appetite of course.
Hi 45fx,
Thanks for your reply, was just wondering if others tend to use a global box size for different pairs or customized to individual pair.

P07
  • #1,194
  • Aug 11, 2010 3:54pm Aug 11, 2010 3:54pm
Quoting Mihailo
Hi friend!

SSL is very good trend tool but...

It repaints 2-3 blocks reversal, so when you look to history there is so much ideal entrys but in real time it was not.

It is good for reentrys, to define that trend is in proces!
Mihailo,

Question : why does the indicator "13 signal" you have made do not match with the indications you explain ( 13 complex change color and price cross coral and cloud and price near coral and cloud / that's what I have understand of your system of trading)

If you have time, and if you agree, would it be possible for you to modify it to send only window message when the signal is acccording with your system ( 13 complex change color and price cross coral and cloud and price near coral and cloud / that's what I have understand of your system of trading) ?
........and ... would it be complicate to propose that this alert could send an one buy or sell order ?

Thank's a lot for your big and beautiful work

Regard

Pierre-Jean
  • #1,195
  • Aug 14, 2010 7:47pm Aug 14, 2010 7:47pm
HI ,

I'd like to ask u if it can be possible to create an emultation as EA live chart 3.2 wich can open in different off line one chart m2,M3,M4 in diffetent box size renko in same cross value ? if there is any programmer it can be able make something like this ?

if is not possible one chart important is in an on line chart to open 3 off line chart in different size.


it's possible to make something like this ?


David.
__________________
  • #1,196
  • Aug 15, 2010 2:04am Aug 15, 2010 2:04am
Quoting dados77
HI ,

I'd like to ask u if it can be possible to create an emultation as EA live chart 3.2 wich can open in different off line one chart m2,M3,M4 in diffetent box size renko in same cross value ? if there is any programmer it can be able make something like this ?

if is not possible one chart important is in an on line chart to open 3 off line chart in different size.


it's possible to make something like this ?


David.
__________________
With indicator can possible do your question, try this in this link http://www.forexfactory.com/showpost...postcount=1108
can open too in close market, with EA not sure can.
sorry my english not good, cann't explain better
  • #1,197
  • Edited 2:26pm Aug 16, 2010 12:28pm | Edited 2:26pm
Quoting andros77
With indicator can possible do your question, try this in this link http://www.forexfactory.com/showpost...postcount=1108
can open too in close market, with EA not sure can.
sorry my english not good, cann't explain better
andros77,
I tried to explain to David also via Skype pm that if you want to make multiple sized renko or renko range offline bars charts from a single one min chart then the indicator versions are probably the easiest way to do so.
Of course they wont be all on the same chart, this may be the next step in mt4 renko chart evolution. Is there a coder among us that can do it?
Can you ask KG etc?
In other words one ea or indi that can make three different sized renko or renko range bars charts open on a single offline or online timed chart. i.e. like three ducks MTF candle sticks displayed at bottom of regular candle stick chart etc...
  • #1,198
  • Aug 16, 2010 2:56pm Aug 16, 2010 2:56pm
Quoting andros77
With indicator can possible do your question, try this in this link http://www.forexfactory.com/showpost...postcount=1108
can open too in close market, with EA not sure can.
sorry my english not good, cann't explain better

HI Andros ,

thanks for the indicator , but the problem is works the same as live chart EA 3.2 works open just one chart in off -line .

i see is not open m2 or m3 and so on ?

if there are any programmer in this forum can load more chart in off -line to set in an live chart indicator or EA ?

this is good way to open in one cross more different renko size

David.
  • #1,199
  • Aug 16, 2010 10:40pm Aug 16, 2010 10:40pm
Quoting dados77
HI Andros ,

thanks for the indicator , but the problem is works the same as live chart EA 3.2 works open just one chart in off -line .

i see is not open m2 or m3 and so on ?

if there are any programmer in this forum can load more chart in off -line to set in an live chart indicator or EA ?

this is good way to open in one cross more different renko size

David.
Hi2 dados77, try attach indicator how many u want in M1 online chart or different online if i'm not wrong, with different Renko Box Size and Renko Time Frame. Like this pic, i attach 3 indicator LiveChart in M1 online, to open 3 different offline chart. This the best i can explain, hope understand yet, just share my knowledge, thx
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 80 KB
  • #1,200
  • Aug 16, 2010 11:49pm Aug 16, 2010 11:49pm
Hi All,
I'm using RenkoLivechart_v3.2 EA and was wondering if anyone can explain how the renko bars change colour. In normal candlestick, if the close is above open it's green and red vice-versa. This doesn't seem to be always the case with the renko bars. Am just curious if others see this also.

Regards,
P07
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