How to read values of indicators in offline Renko chart | Forex Factory

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How to read values of indicators in offline Renko chart

  • #1
  • First Post: Dec 16, 2009 10:44am Dec 16, 2009 10:44am
Hi all,

I am new here. I have been trading forex manually for about 6 months now using another platform. I have a fairly simple system based on Renko charts. I want to automate the system using MQL. I am new in MT4 and MQL. However, I am an experienced IT person. I need your help in understanding some of the fundamentals of MQL and hopefully return your favors with my IT experience.

So far, I've installed and been successfully using RenkoLiveChart v2.1 as an indicator.

For trade automation, I need to write an EA. As far as I understand, however, EAs don't run on offline charts. Because my system is Renko based, I need to access that offline chart from EA. So, I need to plug the EA into live chart, and read indicator values in offline Renko chart. How can I do this? How can I access values of indicators and Renkos in an offline chart from within an EA running on a live chart?

I've searched the forum for an answer with no success, maybe I am using a wrong set of keywords.

Your help is much appreciated,

Nick.
  • #2
  • Dec 16, 2009 10:58am Dec 16, 2009 10:58am
Personally I would code the behaviour of Renko into the EA. Should be easier than accessing offline values. However then comes the problem of coding the indicators as well, however, for Renko charts most of the indicators will show the same thing (more or less), except when they have different periods.
I don't know what time it is at your place, but right here it's 4:20.
  • #3
  • Dec 16, 2009 11:33am Dec 16, 2009 11:33am
Quoting 1000pips
Hi all,

For trade automation, I need to write an EA. As far as I understand, however, EAs don't run on offline charts. Because my system is Renko based, I need to access that offline chart from EA. So, I need to plug the EA into live chart, and read indicator values in offline Renko chart. How can I do this? How can I access values of indicators and Renkos in an offline chart from within an EA running on a live chart?

Nick.
Use v3.2 (DL from this thread: http://www.forexfactory.com/showthread.php?t=189584, use the paper clip on the top right to locate the file). It's an EA rather then an indicator, so it should be placed in the experts folder. Otherwise it works the same way as v2.x.

It (v3.2) have an option (EmulateOnLineChart) that will make it send ticks to any EA attached to the offline renko chart. So you can run your EA on the renko offline chart just as you would a normal chart.

/LV
  • #4
  • Dec 16, 2009 11:58am Dec 16, 2009 11:58am
Thanks LV. I was looking at v3.2 right now. Yes, EmulateOnlineChart feature does what I wanted.
  • #5
  • Mar 6, 2010 9:44pm Mar 6, 2010 9:44pm
Has anyone developed an EA that will place trades based on renko charts?

Thanks in advance

Be Well, Trade Well, and Prosper

Louis
  • #6
  • Mar 15, 2010 5:22am Mar 15, 2010 5:22am
Quoting LastViking
Use v3.2 (DL from this thread: http://www.forexfactory.com/showthread.php?t=189584, use the paper clip on the top right to locate the file). It's an EA rather then an indicator, so it should be placed in the experts folder. Otherwise it works the same way as v2.x.

It (v3.2) have an option (EmulateOnLineChart) that will make it send ticks to any EA attached to the offline renko chart. So you can run your EA on the renko offline chart just as you would a normal chart.

/LV
Hi there:

I was just trying to do the same thing (run EA on offline Renko chart). I went to the DL link you provided, and it only has version 3.0, which is the same as the one I am already using. It has no "EmulateOnLineChart" input.

Can you point me again to a real place to DL version 3.2?

Thanks,
-Derk
  • #7
  • Nov 4, 2010 3:22pm Nov 4, 2010 3:22pm
Just wanted to throw out my thought here. You could have a script attached to the renko chart that writes signals to a file. the EA, attached to an online chart, would read those signals from the file and act accordingly.

Not sure how this would work with Renko charts, but I have something similar working for offline basket charts. I am still coding and perfecting, but signals are received and trades triggered as expected for now.
  • #8
  • Nov 4, 2010 4:53pm Nov 4, 2010 4:53pm
Quoting edoughig
Just wanted to throw out my thought here. You could have a script attached to the renko chart that writes signals to a file. the EA, attached to an online chart, would read those signals from the file and act accordingly.

Not sure how this would work with Renko charts, but I have something similar working for offline basket charts. I am still coding and perfecting, but signals are received and trades triggered as expected for now.

You can trade on one online chart using a signal from any other chart you choose, including an offline chart. No need to do something as awkward as this.
  • #9
  • Last Post: Oct 27, 2011 7:49am Oct 27, 2011 7:49am
Quoting CodeMeister
You can trade on one online chart using a signal from any other chart you choose, including an offline chart. No need to do something as awkward as this.
Hi CodeMeister - this is an old thread, but if you are still there, how do you trade on an online chart using a signal (e.g. a horizonal line at a certain price level) that is on an offline chart?

Basically, I'd like to run a simple EA on a tick chart, which is offline. It uses a horizontal line to determine the trade entry level.

Thanks!
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