Renko Trading on Joint Account

Hello all

I am currently in the midst of setting up a live joint account with a trading partner. Our trading plan utilises the use of renko bricks (pip size 7) to generate signals. Unfortunately, although we are using the same broker and same account, our renko EA seems to be generating signals at different times because our renko bricks are created differently. I am not sure why this is occuring, but it may be due to:

1. Differing internet feeds or speeds
2. Discrepancies with the Renko EA

Has anyone else ever experienced this issue? I will look into using a Renko indicator or script with my trading partner to see if that rectifies the issue. All I am after are renko bricks that are created simultaneously and accurately on our joint account.

Any feedback would be greatly appreciated.

Many thanks,
Kirk.

Bump... :-)

Your basic plan is unsound. You can't assume you're both getting the exact same tick stream and your clocks are not going to be exactly lined up. Since Renko blocks are not time dependent the clock issue probably doesn't matter (unless your entry algorithm is time dependent).

What br0ker are you using? Bucket shops say right up front that they may provide different bids and asks for different customers. An ECN br0ker won't do that. You trade off the best bid/ask based on real orders.

Also I don't understand what trading out of the same account does for you.

Is not the ticks, nor time, nor brokers etc...
The free renko EA most traders use start building the bars as soon as you attache it to charts.... from the latest price to the past.

Lets say you use 10 renko bars.... if the EA start working when the price is 1.2525 .... then all the bars will be ending with 5 ... but if you start when the price is 1.2523... then all bars will end with 3. (remember the example is 10 pips bars)

If you want to have same bars in different platforms...you must start them at the same time.... it would be a slight tick difference but not much...or use same commercial renko I do. I use it mainly to build backtest renko bars... but this has an offset function to set the renko as I wish. Example if I want my 10 pips bars to be 1.2010, 1.2020 1.2030 etc. I set the offset to to zero. and thats it. So, is very easy to have same bar formation in as many mt4 you want.

I pay some usd 30 a couple years back.. a piece of software that is woth the money if you plan to do a lot with renko.

J.
.

PS... actually.. I have not use the free version for a long time... maybe it does have that function now.

I never tried that, but giving just an idea, which may work. You may try to change the RenkoBoxOffset parameter (default is zero) in RenkoLiveChart EA until renko charts look the same on both your and your friend's MT4.

As jeuro mentioned the starting price can effect the drawing right from the start. You can synchronize this to a round starting number and then just make sure it stays at a multiple / offset of the standard starting value.

Also the logic of creating the blocks can have an effect. If you are using 7 pip Renko, does the code logic create a new block when exactly 7*2 pips (for reversal) have occurred, even when there may be a small price jump in the feed such that the 14 pips didn't occur (price went 13 pips and jumped to 15 pips). In this case you need to work out exactly the logic of the renko bars.

If Renko synchronization is your main goal then you will need to make sure the code is written from this viewpoint. So a standard starting point is a must. Also, the code should take these "gap" situations into account in the data and draw the bar to exactly the 7 pips length. You'll have to note that you may not be able to trade on all the prices shown on the Renko but at least your blocks will be standardized.

And yes, things like different ticks in 2 terminals (even if the same br0ker) can effect how the Renkos draw in the short term but not so much time. I'm not sure if there is a simple answer for different ticks though. You could miss a block completion on one of the brokers but if you draw your blocks in a standardized manner, it will just be a one-off bar that should re-synchronize when a new bar is drawn.