Renko-Snowball

I think 1.1c can be profitable...
but settings should be changed...
it cant stand against a choppy market...

dis:100 step:6 tp:300 mod:90 sl:800...

is do you think we should add someting or abstract I can recode it...
but can take time...
I am waiting for comments..

Cheers!!!

Here is statement of last settings...
I made an calculation of simple math...
in a interval of 600 pips by step 100 pips
300 is the most profitable take profit..
for instance...
if you use 100 pips as a step and 600 pips as a interval
and say tp 200... it means at that interval appx 6 orders can be triggered...
appx 4 of them can reach tp and total 800 pips ...
but if you us 300 as a tp: it means 3 order can reach tp and total 900 pips...
see.. so if you use 800 pips as an interval you should use 400 pips as a tp...
And at this way choppy market will be less effected on our orders...
as you can see on statement there is a drawndown appx %12 .. it is high.. but it is because My demo account is 100 usd and may risk is app % 25 per movement... so you should use this more conservative...

thank you for reading..
see you later on

please someone test this for 4 days...
then post statement

Can you please give the description of each parameter. For example, what is interval, what is mod?

Also, are you able to pos the mq4 so those who can could try and improve it...

Thx

statement

Basically I wouldn't believe in Trading Hours NY,LON,TOK. Market moves despite the hours and it is very hard to get advantage of different market hours. Personally I believe that enabling and disabling the trades during one market or another it just reduces the risks while decreasing the potential profits as well. What I suggest is that one should have sound manual entrance together with pyramiding ea. But since I trade only on daily, seems like this ea would close potential profit trades in losses. Since the price doesn't usually go in one direction.
The thing is that I wait for the daily to form somekind of price action entrances and then I pull the trigger. So the semiautomatical method for me would be around 3-4 trades on any given trend. I usually close my trades after one working day. what can you suggest? I'm like any1 else looking to pyramid the profits and cut losses short.

Cozbek Hello ..... I saw that you work with Renko codes to MT4, and maybe can help me with my strategy and later an EA for it. Well, here we go ..... The concept behind the strategy works this way... open a position, lets say, $ 100 as soon a new block is formed (in the same direction as before) using a leverage of 100 whith 10 pips target and 10 pips ST (same size as the block ).... ok now ... our stop loss is 10 pips, if the stop loss is hit we open a new position with $ 100 but with leverage of 200 (in the opposite direction from the first position if the first position was buy this will be sell) with a stop loss and target of 10 pips too ... ok ... now if the stop loss is hit again, we opened a new position with $ 100 with a leverage of 400 with stop loss at 10 pips, but if this time the stop loss is hit we did not do more trades.
OK, I know it sounds a Martingale, but instead of double the money we double the leverage ;-).... And the losses coming from each position are summed to give 8:1 ... seems high, but the amount of time the third operation fails (when and if activated) is very small. So the main concept is that the price does not bounce more than three times before a target of 10 pips is reached.

And please...delet this reply after you read....tks ;-)

Someone using this right now?...,

Great job cozbek88 really liked the idea of simple price action,
lets continue this thread!, i got the tools to backtest renko on 99.90% tickrate, so we won't need to demo-forward test what we build

cozbek88 I WILL BE WAITING FOR YOUR REPLY AND PERMISSION,
we would like to see what you accomplished with this method if you still using it,
i would love to help you on that i got everything we need to do this, except some good ideas from you and others that gonna join us here.

hope you still active though

Dead thread.. OP was last online in 2011.

Unless he's used his EA to make millions and has spent the last 3.5 years chillin on a tropical island somewhere