Renko Block Charts | Page 37 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

RENKO Trading SYSTEM - RENKO Indicators 7 replies

New Renko Bar and Reversal Renko Bar Indicator Alert Help Please 5 replies

Charts, Charts, Charts! 1 reply

Sticky Renko Charts 5 replies

MA problem on 1/2 block Renko 1 reply

Attachments: Renko Block Charts
Exit Attachments

Renko Block Charts

  • #721
  • Dec 23, 2010 6:04pm Dec 23, 2010 6:04pm
Can the indicator work on MT5??
  • #722
  • Dec 30, 2010 5:13am Dec 30, 2010 5:13am
Quoting mezarashii
this is a true gift to experienced traders. I have been using constant range bars and these beat the pants off of that script. Nothing shows the existence of a trend better than renko, I am a convert. Thanks to both posters with their efforts.

settings on my chart are 20. Happy pips to all.
Hello,
can anyone post this indicator - it draws white stop lines,

thanks

bbjurek
  • #723
  • Jan 15, 2011 7:49pm Jan 15, 2011 7:49pm
What I want to know is, do these bars repaint? Obviously you could make a million simply trading on color, but I'm convinced these bars have to repaint in order to look this good. Does anybody know?

Quoting mezarashii
this is a true gift to experienced traders. I have been using constant range bars and these beat the pants off of that script. Nothing shows the existence of a trend better than renko, I am a convert. Thanks to both posters with their efforts.

settings on my chart are 20. Happy pips to all.
  • #724
  • Jan 15, 2011 8:10pm Jan 15, 2011 8:10pm
They do not repaint but generating renko from M1 data with a small box size leads to completely false renko charts. They look like massive triangles.

Renko is useless for backtests or on historic data unless you generate them from ticks.
  • #725
  • Jan 15, 2011 8:18pm Jan 15, 2011 8:18pm
So this chart is probably not accurate historically, or looks different than it did when live?

Quoting mfurlend
They do not repaint but generating renko from M1 data with a small box size leads to completely false renko charts. They look like massive triangles.

Renko is useless for backtests or on historic data unless you generate them from ticks.
Attached Image (click to enlarge)
Click to Enlarge Name: hook.gif Size: 20 KB
  • #726
  • Jan 15, 2011 8:32pm Jan 15, 2011 8:32pm
I don't know... what is your box size?
If you had the renko generating live, and you have not restarted MT4, then they are correct. Otherwise, they are correct only if the box size is greater than the largest M1 bar (or whatever timeframe you're generating from).
  • #727
  • Jan 16, 2011 5:49am Jan 16, 2011 5:49am
The box size is 10 pips. It is on a EUR/USD M2 offline chart, being generated from a EUR/USD 1m chart.

So if the box size (10 pips) is greater than the largest M1 bar they will be correct?

How can you get them to generate live?

Quoting mfurlend
I don't know... what is your box size?
If you had the renko generating live, and you have not restarted MT4, then they are correct. Otherwise, they are correct only if the box size is greater than the largest M1 bar (or whatever timeframe you're generating from).
  • #728
  • Jan 16, 2011 9:28am Jan 16, 2011 9:28am
Quoting mfurlend
I don't know... what is your box size?
If you had the renko generating live, and you have not restarted MT4, then they are correct. Otherwise, they are correct only if the box size is greater than the largest M1 bar (or whatever timeframe you're generating from).
Actually, the reverse is true - Renko created from M1 bars with an abnormally large range MAY be inaccurate (depending on volatility within the bar) but these bars do not occur very often and, since we can only trade on "live" bars, a minor historical inaccuracy has no real impact.

To sum up:

- Current bars created from ticks are always accurate.

- Historical bars may or may not be accurate - usually they are.
Old Benjamin was right
  • #729
  • Jan 16, 2011 9:49am Jan 16, 2011 9:49am
Quoting draco76x
Can the indicator work on MT5??
No MQL4 indicator (or, in this case, EA) will run in MT5 without a complete rewrite.
Old Benjamin was right
  • #730
  • Jan 16, 2011 10:00am Jan 16, 2011 10:00am
Lou, thank you for the clarification.

You know, just looking at a Renko chart, it's clear that if you go long on green and short on red you'll do just fine. You get in at the start of every trend, the whipsaws are few, and you have a nice trailing stop.

But it seems like you're not actually able to trade this way because the market actually does not look like this. Interbar it could go way down, or way up, so you could do better, or worse than what the Renko bars depict.

So while they look great, I'm not sure they're really tradable, at least in their simplistic form of red/green.

Quoting Lou G
Actually, the reverse is true - Renko created from M1 bars with an abnormally large range MAY be inaccurate (depending on volatility within the bar) but these bars do not occur very often and, since we can only trade on "live" bars, a minor historical inaccuracy has no real impact.

To sum up:

- Current bars created from ticks are always accurate.

- Historical bars may or may not be accurate - usually they are.
  • #731
  • Jan 16, 2011 3:26pm Jan 16, 2011 3:26pm
Quoting Dreamliner
Lou, thank you for the clarification.

You know, just looking at a Renko chart, it's clear that if you go long on green and short on red you'll do just fine. You get in at the start of every trend, the whipsaws are few, and you have a nice trailing stop.

But it seems like you're not actually able to trade this way because the market actually does not look like this. Interbar it could go way down, or way up, so you could do better, or worse than what the Renko bars depict.

So while they look great, I'm not sure they're really tradable, at least...
There are lots of whipsaws - if you are trading 10 pip Renko and get caught in a 20-30 pip ranging market you will see all you can handle

Best way to trade Renko is to use conventional support/resistance - wait for a good-looking retracement pattern and jump in when SR is broken.
Old Benjamin was right
  • #732
  • Jan 18, 2011 6:39pm Jan 18, 2011 6:39pm
It would be cool if you could overlay different size renkos on top of each other.
  • #733
  • Jan 18, 2011 7:00pm Jan 18, 2011 7:00pm
This was originally designed to be placed on a normal tf, but the author indicates that it should work on a renko chart to show higher/mimick higher renko blocks
Attached File(s)
File Type: mq4 RenkoShade2_3.mq4   20 KB | 1,011 downloads
  • #734
  • Jan 19, 2011 1:26am Jan 19, 2011 1:26am
Great that someone has come out with renko-based EA. I have tried the EA by traderduke. The backtest result looks superb. I have started the forward test as well, let us see how the beast turns out to be. Regarding some of the stuff discussed by other member, I don't understand why you guys are suggesting to use different time frame (the M1 and H1 difference). Renko is pure price movement and no time frame. What matters is the pip bar. It doesn't matter if u put in m2 or what. I'm putting the EA in my M2 offline chart now. Cheers.
  • #735
  • Edited 6:36am Jan 22, 2011 6:26am | Edited 6:36am
Hi MFurlend

it is a 10M file, could you not host it on FileServe/Rapidshare/MediaShare


With only 1 seed, download will drag. Right now the upload is 0.3kb with a ETA of 3hrs
  • #736
  • Jan 23, 2011 1:15am Jan 23, 2011 1:15am
Sorry those are actually pretty wrong. I will repost proper ones in a bit.

You can do it yourself with this modification I made of the renko EA. Run it in the strategy tester using real tick data (google "birt's tick data") and it will generate real renko charts on a tick-per-tick basis.

I removed the code that generates renko charts from historic data entirely, so the resulting charts will be true renko.

If you set the variable "GenerateAllStandardTFs" to true, the EA will generate new TFs (standard TFs) in order during each round of optimization. The point behind this is to generate different renko box sizes for all the different time frames in one go.

Example:
RenkoBoxSize: Start:1 Step:1 Stop: 7
or
RenkoBoxSize: Start:5 Step:5 Stop: 35

There need to be 7 iterations (one for each time frame) in order for that function to work properly.

If this just confuses you and you would rather generate them one by one, then simply turn GenerateAllStandardTFs off.
Attached File(s)
File Type: mq4 RenkoLiveChart_ForStrategyTester.mq4   12 KB | 1,151 downloads
File Type: ex4 RenkoLiveChart_ForStrategyTester.ex4   9 KB | 603 downloads
  • #737
  • Edited 8:05am Jan 23, 2011 2:05am | Edited 8:05am
Alright. Here we go. I got it right this time. The product is 2gb of REAL renko .hst files using tiny box-sizes (but still retaining total accuracy).

It has to be a torrent because of the file size. Please seed guys!


Time period: 2009.06.01 -> 2011.01.01
Summer: GMT Shift: +2
Winter: GMT Shift: +2

Data: 4 digit

EURUSD1 : 1 pip Renko
EURUSD5 : 2 pip Renko
EURUSD15 : 3 pip Renko
EURUSD30 : 4 pip Renko
EURUSD60 : 5 pip Renko
EURUSD240 : 6 pip Renko
EURUSD1440: 7 pip Renko


http://www.seedpeer.com/download/ren...2a9070dafa6516 269 MB
Rapidshare link: http://rapidshare.com/files/444132276/RenkoEURUSD.zip

Time period: 2009.06.01 -> 2011.01.01
Summer: GMT Shift: +2
Winter: GMT Shift: +2

Data: 4 digit

EURUSD1 : 10 pip Renko
EURUSD5 : 20 pip Renko
EURUSD15 : 30 pip Renko
EURUSD30 : 40 pip Renko
EURUSD60 : 50 pip Renko
EURUSD240 : 60 pip Renko
EURUSD1440: 70 pip Renko


http://www.seedpeer.com/download/ren...570a961cfd2dc5 15.8 MB
Rapidshare link: http://rapidshare.com/files/444114887/RenkoEURUSD_2.zip

Time period: 2009.06.01 -> 2011.01.01
Summer: GMT Shift: +2
Winter: GMT Shift: +2

Data: 4 digit

EURUSD1 : 33 pip Renko
EURUSD5 : 66 pip Renko
EURUSD15 : 99 pip Renko
EURUSD30 : 132 pip Renko
EURUSD60 : 165 pip Renko
EURUSD240 : 198 pip Renko
EURUSD1440: 231 pip Renko

http://www.seedpeer.com/download/ren...9a4d283d7ff89f 1.72 MB
Rapidshare link: http://rapidshare.com/files/444114201/RenkoEURUSD_3.zip
  • #738
  • Jan 23, 2011 5:29am Jan 23, 2011 5:29am
Here is a script for changing the spread. Throw it on a chart for the symbol you want to change the spread of (for my renko files, throw it on EURUSD).

It will generate a new symbols.sel file in your expert/files folder.

Make sure MT4 is off and that it won't connect to a broker when you turn it back on.

Move the symbols.sel file to your history/Renko folder.

Turn MT4 back on.
Attached File(s)
File Type: mq4 SpreadGen.mq4   6 KB | 668 downloads
File Type: ex4 SpreadGen.ex4   5 KB | 517 downloads
  • #739
  • Jan 23, 2011 7:29am Jan 23, 2011 7:29am
This is getting complex so I made a little guide for posterity:

1. Download tick-by-tick data and convert it to .FXT format. This is a somewhat involved process but extremely thorough instructions are available at http://eareview.net/tick-data. Once you are able to run the newly generated .FXT file in the strategy tester without overwriting it, proceed to step 2.
When converting the data to .FXT with birt's script be sure to:
1. Connect to your broker.
2. Set "CreateHst" to "false."
3. Set "UseRealSpread" to "false."
4. Use the newest version of birt's scripts.
5. Go to Tools -> Options -> Charts and set "Max bars in history" and "Max bars in chart" to 2147483647. (Or just fill the field with a ton of 9's)
2. Turn off Metatrader .
<Modified from "Off-line charts FAQ">(http://cdn.forexfactory.com/attachme...d=1257491482):
3. go to the crogram FilesMetatraderhistory folder. You should see subfolders with trading servers feeds.

4. make a new subfolder with the name Renko

5. go to one of your trading servers folders ( folder should be in historyxxxx_server) and copy the following files into historyRenko folder:
- symbols.raw
- symbols.sel
- symgroups.raw
- ticks.raw
Do NOT copy any of the .hst files.

4. Start Metatrader and manually log into account but write "Renko" in the server field and "11111" in the account field (or any other set of numbers). Of
course there will be no connection.

5. Install "RenkoLiveChart_ForStrategyTester.mq4" http://cdn.forexfactory.com/attachme...2&d=1295774096

6. Restart Metatrader to clean its preloaded data (you should see Waiting for update on all charts).

7. Open RenkoLiveChart_ForStrategyTester in the strategy tester.

8. Set the currency for which you have tick data. Set it to "every tick" mode (not "open bars" or "control points").

9. Configure the expert's properties:
If you wish to create a different renko box size for each standard time frame at the same time, read the following instructions. Otherwise set "GenerateAllStandardTFs" to "false" and proceed to step 11
1. Set "GenerateAllStandardTFs" to "true."

2. Set the RenkoBoxSize "Start","Step",and "Stop" variables such that 7 itterations in total occur during optimization.
Example:
RenkoBoxSize: Start:1 Step:1 Stop: 7
or
RenkoBoxSize: Start:5 Step:5 Stop: 35

3. Ignore the RenkoTimeFrame variable; it will be set automatically by a global variable.

10 . Check "Optimization" and click Start.

11. After optimization is done, your new renko history files will be generated in the proper folder. Run them by using "open bar" mode.
  • #740
  • Jan 25, 2011 9:12am Jan 25, 2011 9:12am
Hi Guys
Trying to test Tradeduke EA. For the moment no trade..
Does the Ea works with a particular indi ? or with the script ? or with the EA which "forms" the bricks in M1 ?
Thanks
Si les cons volaient, il ferait toujours nuit...
1 trader viewing now