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RENKO Trading SYSTEM - RENKO Indicators 7 replies

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Attachments: Renko Block Charts
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Renko Block Charts

Quoting cspip
Thanks for the indy......i tried it but its not like in your picture?

is the blue and red line idicator at the bottom also part of the indicator you posted?

Thanks

The indi at the bottom is not needed at all.
Yes, the indi that I attached does not look tha same, but it draws the line in the same level. the one on the pic is the same, i just made an small mod to it
Attached File(s)
File Type: mq4 Support and Resistance (Carl).mq4   2 KB | 1,134 downloads
Quoting csbueno
The indi at the bottom is not needed at all.
Yes, the indi that I attached does not look tha same, but it draws the line in the same level. the one on the pic is the same, i just made an small mod to it
Thank you, very nice .......... easier to see the lines this way


Hello,
I am new to Renko but not new in Point and Figure method, and this is my question for Renko masters - is the Renko chart same as Point and Figure chart when the pnf's reverse_size= 1 ?
I would like to make a EA based on Renko Chart.

The Ea should buy on MA cross and close when opposite signal rises. The problem is, that the not finished bar is seen as closed bar and therefore gives a lot of false signals. I allready attached a Volume Filter that EA only trades on the First Tick of a New bar. But therewhere still a lot of troubles in sidewaymarkets, because the EA will act to early.


The question is:


Is it possible to recode the Renko Live chart, that it will show the last, not finished, bar as open bar?
Quoting FrederikV
I would like to make a EA based on Renko Chart.

The Ea should buy on MA cross and close when opposite signal rises. The problem is, that the not finished bar is seen as closed bar and therefore gives a lot of false signals. I allready attached a Volume Filter that EA only trades on the First Tick of a New bar. But therewhere still a lot of troubles in sidewaymarkets, because the EA will act to early.


The question is:


[size=3][color=Black][b]Is it possible to recode the Renko Live chart, that it will show the last, not finished, bar...
Have you tried using just the previous bar? That way when the new bar is opened the EA will act on the previous bar immediately.
Quote
Have you tried using just the previous bar? That way when the new bar is opened the EA will act on the previous bar immediately.

Yes i tried that with VolumeFilter (only trade if Volume=1-> New bar formed). But it still gives me alot of fail signals, because the new formed bar(not finished bar) is allready seen as closed bar, which gives me trouble when using indikators based on open/close.

Just have a look at the Renko Charts the RenkoLiveChart V.1 has done, it only shows finished bars. The problem is, that i cant trade on these offline charts it makes and i dont know how to solve this.

Can somebody tell me, if its possible to recode the RenkoLiveChart to only show finished bars BUT still be tradeable with an EA?
I doubt using Volume = 1 on Renko is workable. Use Bars count for first tick of new bar / prior bar just closed.
Quoting Kenz987
I doubt using Volume = 1 on Renko is workable. Use Bars count for first tick of new bar / prior bar just closed.
It increases the chance of getting a good trade but still isnt the optimunm.
I will give you a picture of my problem:
I use two MAs for the signals (4Period Smoothed and 2 Period Expo). The problem are the yellow circled "ghost" trades. According to the MAs the shouldnt be there, but therefore the MA calculates also based on the not finished bars the were done. Does anyone know how to avoid this? Is it possible to recode the MA for example to allways ignore the last bar? Or another solution would be to recode the RenkoLiveChart to show the not finished bar as actually "still open bar" until the finished bar has been formed.

http://img826.imageshack.us/img826/6011/unbenanntm.png
I just had another thought about the MA issue:
I can tell the RenkoLiveChart to form Bricks with an exactly Range (no wips in this case).
See the picture:
http://img826.imageshack.us/img826/9892/unbenannt2.png
This time we only have exactly 10 Pip Bricks, only the last yellow one, which is actually the one i dont want to have inside my MA calculation.
Is it possible know to recode the MA that it will only make calculations on Bricks which have a exactly 10 pips range?
I think sometimes the last brick will have that too, because it can go f.e. up and down 5 pips. But I hope this will not happen to much.
Can someone give me a clue how to recode this?
As I said earlier, use Bars to know when you have a new bar starting, Then use iMA with a shift of 1 for the last bar closed.
Quoting Kenz987
As I said earlier, use Bars to know when you have a new bar starting, Then use iMA with a shift of 1 for the last bar closed.
It doesnt solve the problem, that MA also uses the not finished bar to calculate
Quoting Kenz987
As I said earlier, use Bars to know when you have a new bar starting, Then use iMA with a shift of 1 for the last bar closed.
I gave your idea another try, but with a negative shift.
Attached on the chart it looks great. But when I code it into the EA:
iMA(NULL,0,3,-1,2,PRICE_OPEN,0)
The ea doesnt open a trade. If a change "-1" to "1" the EA trades.
Isnt it possible to make a negative shift in an EA?? Manuell on the chart it works for me.
iMA(NULL,0,3,1,2,PRICE_OPEN,1)
Go read the help for iMA.
Hi, I'm using Renko_Live_Chart v 3.2 and I have this problem:

I open an M2 chart and it works fine.
If I open a second M2 chart (on the same cross) this chart doesn't work as the first: I need to push the refresh button (right click on the graph).

How can I solve? Thank you!
Quoting csbueno
The indi at the bottom is not needed at all.
Yes, the indi that I attached does not look tha same, but it draws the line in the same level. the one on the pic is the same, i just made an small mod to it
Thanks for your mod to Barrys indicator....I've been looking for this very thing for a long time....excellent job!
I was wondering if anyone else is getting repainting issues with the renko wicks. The 'RenkoLiveChart_v3.2' EA is attached to the 1 min chart and it is set to display 3 pip blocks to the 2 min chart. However, today I found that some wicks on the renko chart would repaint if I closed down MT4 or closed/reopened the same renko chart.

Below is an example of what I mean. On 'Chart A: 1 min.' you will see that a low of 1.26969 occured at 08:37. But on 'Chart B: 3 pip Renko' the same low from the 1 min chart doesn't show up. During demo trading today one of the blocks with an arrow above it on the renko chart had a wick that did match the 1 min, but after restarting MT4, the wick disappeared.

I have checked some more comparisons of highs/lows of the 1 min chart and 3 pip renko chart and found that it has also happened on other occasions. Does anyone know how to fix this? Either through an update or maybe adding a little extra to the code so that the renko chart will draw and keep the wicks?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Chart A - 1 min.png Size: 13 KB
Click to Enlarge Name: Chart B - 3 pip Renko.png Size: 22 KB
Hello, I think this is problem of MT4, not a renko indicator. Such "bugs" are appearing, because of small TF(i.e. M1). Sometimes MT4 can't divide 1-2 pips on the Y axis(price) and draws them in different places.
Quoting lumanauw
I made some modifications of LastViking's renko chart, so now it can be backtested. In the modified renko, the bar[open] is not moving anywhere now. Consequence is, in trend change, the bar height will be twice the preset value.

Anyone has consistent+profitable strategy (for EA) can be used for this chart?
Hi, you could remove restrictions M1 M5 M15 ... from StepChart3.2.ex4 for backtesting?Sorry for my englisch
Quoting Bejmar
Hi, you could remove restrictions M1 M5 M15 ... from StepChart3.2.ex4 for backtesting?Sorry for my englisch
Hey, .ex4 file is compiled and is not suitable for editing.
Quoting puma1
Hello, I think this is problem of MT4, not a renko indicator. Such "bugs" are appearing, because of small TF(i.e. M1). Sometimes MT4 can't divide 1-2 pips on the Y axis(price) and draws them in different places.
How can this be a problem of MT4? How MT4 'knows' that it is reloaded and must change wicks range? I think it is just a bug in a script with regeneration of Renko bars. As far as I know the commercial script does not have this.
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