DislikedThanks for all the info. It's not really that difficult, once you figure it out, how to put renko charts into mt4 back-tester, but is kinda waste of time anyways.
That's why I also think ma crosses have a big advantage over zig-zag, as you know from my own zig-zag on renko ea thread, I've looked at quite a few & know that most tend to repaint, while the close ma crosses, don't have the same problem. Probably why I've been looking more closely at Chris's ea these days, although it doesn't use ma cross, the pa cross it uses is extremely close to your...Ignored
I'm analyzing with some tools a larger amount of renko data...and i'm finding interesting things...that maybe we can adapt to trading...
For example...i'm analyzing the probability of continuation of a trend...i'm trying quite every indy...moving averages, hour limitations...and until now...there is notning...I repeat...nothing that in the long time can push up the probability above 70/75% if we talk of scalping...the reality is that renko without indys has quite the same probability...and every indy can do nothing more than overoptimize the syste.....but I think I will go deeper on this in a new thread maybe...
As per ma crosses...it's like with other charts...it will perform very well during trends but it will suffer during ranging periods..anyway the best combination that i've found is the 5/20 ma cross...
If we talk of short term trading (not scalping) the best solution that i've found is using:
10pips bricks on EURJPY
TRIX setted to 9
Wait for a TRIX 0 cross (it happens on average once every 1 or 2 day)
Wait for a close of the brick...the close has to be in the direction of the TRIX cross, if it's not...do not trade.
Enter with 20 SL and 30 TP
This strategy will give you a 55% win rate on average...with a positive risk/reward...it's not a fast gain strategy, and the trades don't happen too often...but it's pretty stable...
With a 20 SL and 20 TP the win rate will be 65%...
About scalping...as I said i'm finding some very interesting things...
I think we can reach a near to 70% hit rate with a 1:1 or 1:2 risk/reward...and this would be very good...
but i reserve to do some other research...
The only thing that i'm sure is that a 90% hit rate is an utopia...it can happen some day during a month, it can happen with an overoptimization of the system...it can happen with a human trader filter if the trader is very good....but not in the long time...
Market is like a puzzle, YOU have to fit the pieces!!