Trading Renko

Hello

Is anyone here trading the forex rebellion system on a renko chart? I also find the HAMA indicator and BB MACD works great on 6 and 7 pip renkos. Can post further explanations if people are interested.

Cheers

Feel free to post some screen shots and rules when you have time.

Is anyone here still trading with renko charts? I have made a couple of EA's to trade with renko. Simple stuff. 2 boxes of the same color after 1 of the opposite and I am in. Trailing stop after one box of the opposite color. My approach on demo is to run it on 28 pairs at the same time. I have seen returns of 25+% and accumulative profit of 1250 pips on a single day on three occasions during the last couple of weeks that they run. I trade 25 pips boxes with a trailing stop of 60 pips.

Two problems with this strategy.

1. It doesn't keep the profits. If I don't book them the pairs retrace and 60 pips out of each pair is gone. I made another EA which monitors the accumulative profit in pips. If it reaches above 1000 pips it puts the finger on the trigger. If the profit rises then fine. If it falls by 100 pips it kills everything. If it reaches for example 1100 pips and then 1000 it pulls that trigger and closes all the trades. No questions asked. I didn't had the chance to try it yet as I wrote it this weekend. Another thing that I have noticed is that the maximum profit is gained at 18:00 -19:00 local time. Maybe I should close then the trades daily.

2. On choppy days it gets massacred. 15% draw down on a single day. Today was one of these days. Now my equity seems to find it's way upwards again and I am sure tomorrow I will be well into profit but I would like to avoid it if possible. I tried to filter with Donchian Channels but the system ended up a looser. Any idea how to filter the trades?

Another strategy I am trying (again on 28 pairs on the same time) is after a block flip (green to red, red to green) I enter with a SL of 50 pips and a tp of 100 pips. The SL is trailing. I am trading it since yesterday. Yesterday I saw a maximum return on equity of 8.9%. Today it made a -15% drawdown and as I write these lines it is on +5%. Again ranges kill the joy.

Maybe try a filter of having X amount of blocks in the direction of the trade first. Say like 5 up blocks, then a block flip, then enter long. I'm thinking this might cut down on some of the choppy market trades. It's impossible to filter out the chop, the markets are in the the chop most of the time anyway.

Another filter might be after the EA has X amount of losing trades in a row, it's done trading for the day.

My 2 cents.

Peace,
SatchFan

known as indicators of Figure

Hi all,

I use RLC v3.2 and generate renko HST files for boxsize 5 , 10 , 20 ,... pips with satisfaction. Thanks LastViking and Lou G for bright code.

In the same time as HST files are generating I read them by ArrayCopyRates() in regular indi and EAs working in regular TF (M5 , M15 , H1 ...)

The problem arise if HST file stop refreshing from any reason. This problem force me extend ver 3.2 and code new features in MTF_RenkoLiveChart_v1.0 with
preservation all perfect characteristic of RLC v3.2

Short description of MTF_RLC v1.0 :

Expanded for more Renko TF and more offline charts for each of them and communication with your own indicators/EAs by global variables
The code is derived and refined from original Okt 13 2009 (LV) (v3.2)

Main code is separated from start() to one_start()
The original functionality is preserved
All names of the variable are saved using #define by similar name in the arrays[][]
If RenkoTimeFrame_1 = 0 start numbering Renko TF from 16
If any RenkoBoxSize is 0 init() doesn't check more RenkoBoxSize
Each Renko TF refreshes more than 1st offline chart (refreshses all of them)
Information about opened offline chart by Comment
The code is prepared for extend to 5 Renko TF
Coded modular for easy expanding more than 5 Renko TF by _dim_renko
The externs RenkoBoxOffset and EmulateOnLineChart are common for all charts (optional)
Common externs are prepared to change to regular externs (for each Renko one extern)
Idea of the code for multiple refresh is separated and recoded from v1.9 P4L PeriodCon.mq4 by pips4life of ForexFactory.com
SendTick = true will simulate an incoming tick so you can create offline charts when the market is closed

If no offline chart is opened for renko TF the function ArrayCopyRates() don't work properly (any refresh) : MT4 behaviour
So if use ArrayCopyRates() to get the array rates[][] of Renko TF in regular TF, MIN ONE OFFLINE RENKO CHART HAVE TO BE OPEN FOR SELECTED RENKO TF
The information about opened offline charts (refreshed) are written on the chart and
set as global variable with the name "MTF_RLC_" + SymbolName + "_" + RenkoTimeFrame whith the contents :
1 : mean offline chart is refreshing
0 : mean offline chart is not refreshing
Your own indicator can check validity of actual data in HST by global variable before uses ArrayCopyRates()
Check globals with F3 to see how it works

Next advantage of MTF version over original is that all Renko offline TF get refresh by the same tick from broker (one run MTF_RLC) and is prepared for reading HST
by MQL ArrayCopyRates()
The speed and consumtion of CPU is better than multiple run RLC v3.2
Inform me please about significant inevitable changes in the code or bugs.
I use HST output of MTF_RenkoLiveChart in my own indicators working in the regular online TF for natural S/R levels.

HST read by : if (glob_RenkoTimeFrame == 1.0) ArrayCopyRates(rates, NULL, RenkoTimeFrame).
Thanks.

I hope it can help anybody else.

laro_ron

Hi all,

I coded small testing indi for own developing purpose to see how renko looks inside....

Try it and you will see where is the price and where are the renko boxes.

Renko boxes are generated by EA MTF_RenkoLiveChart_v1.0 with externs 5 , 20. The others are default.


There are two instances of Show_Renko on the chart with the externs :

16 , 2000 , true
17 , 1000 , false

Put both Show_Renko on M5 chart as is on the pict and you can switch the others TF

http://www.forexfactory.com/attachme...1&d=1335279555


laro_ron

Hi, First I Just want to thank everyone for the efforts here. I am fairly new to Renko, and my trading usually consist of patterns, S&R, trendlines, speedlines, channels, etc. Looking at these charts puts things into an entirely different perspective. I tried searching the thread to see if anyone is having the same issue, so I apologize if I am being redundant. I'm having trouble with my trendlines not staying in place as new bricks are formed. I'm currently using 10p bricks. Is this a common thing or is there something I can do to lock them down? I like to trade using a manual trendline EA to trigger and exit my trades so I don't have to watch charts all day. With my trendlines out of whack, this is basically impossible.

ps. I am using the v3.2 ea

Best Regards!

Try renko size 5 & then buy/sell with a close below a 10SMA - TP 5pips, SL:12 or trailing... Filter the trades with a 8period RSI under or over 50 for shorts or longs...

Renko brick size 7 with the Forex Rebellion rules seems to work great. Have just gone live with this strategy and my first 9 trades with eur/usd and gbp/usd were 6 wins 3 BE +2pips.

Cheers, Kirk

Here is one version of a Renko chart strategy:

http://www.top-forex-systems.com/str...-systems/renko

Dear friend,,, ia need for help to make my trading strategy into EA
The indicators:
1. MA 5 - Exponential - OPEN-SHIFT0 === YELOW COLOUR AS TREND DIRECTION
2. MA 14,-SIMPLE-OPEN-SHIFT0 === RED COLOUR AS LIMIT FOR TAKE PROFIT OR STOP LOSS (EXIT SIGNAL)
3. MA 20, SIMPLE - OPEN-SHIFT 0 === COLOUR PURPLE AS MAJOR TREND DIRECTION
4. Parabolic SARS STEP 0,02 , MAX 0,03 === AS ENTRY SIGNAL
5. CCI, ADD LEVEL 100 and - 100 === AS ENTRY SIGNAL
6. EA Renko Chart version 3.2 SETTING BOX SIZE 5


Here is the trading rules :
BUY ENTRY:
1. THE OPEN PRICE OF THE NEW RENKO BAR IS ABOVE THE YELLOW AND PURPLE LINE
2. SARS APPEAR UNDER RUNING PRICE
3. CCI THROUGH THE LEVEL 100
4. Exit: CLOSED ALL TRANSACTION IF CLOSING PRICE ON THE RENKO BAR PRICE UNDER THE RED LINE
5. DO AVERAGING BUY ONLY IF THE PRICE HAS OPOSITE MOVEMENT WITH THE DIRECTION TREND – SEE THE CONDITION (RULE 1-4)


ENTRY SELL:
1. THE OPEN PRICE OF THE NEW RENKO BAR IS UNDER THE YELLOW AND PURPLE LINE
2. SARS APPEAR ABOVE RUNING PRICE
3. CCI THROUGH THE LEVEL - 100
4. Exit: CLOSED ALL TRANSACTION IF CLOSING PRICE ON THE RENKO BAR PRICE ABOVE THE RED LINE
5. DO AVERAGING SELL ONLY IF THE PRICE HAS OPOSITE MOVEMENT WITH THE DIRECTION TREND –SEE THE CONDITION (RULE 1-4)

renk box size 3.2 version is bugged...sometimes the price goes down more than 5 pips and renk dont close the candle...why ?!....sometimes candle has huge sorrows..

I use commercial script from http://www.az-invest.eu/ and their Renko and Range Bar scripts are good and error free, i m using it for sometimes

Hi;
You can make your request on this thread: http://www.forexfactory.com/showthread.php?t=332760.

Seller9 is a great programmer, and Renko specialist.

Luck

Check the ETB site for test EA chart.

[quote=Luhan;5903067]Dear friend,,, ia need for help to make my trading strategy into EA

As i see your tp +4 pip, sl-1000 pip. It's very dangerous in the long run, isn't it?

Attached File(s)

0-RenkoLiveChart_v3.3-Labels.mq4   18 KB | 1,342 downloads

EA Chart (M1) - See Inputs Window for more label and font size options.

Attached Image

Installation instructions - HERE - scroll down to post file45
Renko chart


Tick Generator

 

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hey guys,

Im kinda new to renko. and I've read the thread through. i have a question to ask. I've noticed that:

1. I have 2 accounts for backtesting. I discover that the renko bricks form differently even when:
a) both accounts are trading the same pair.
b) the same time frame; DAILY
c) both using same renko tick counts.

It has been said that:
"Any time you refresh the script (or restart mt4, or remove and reapply the script and refresh the offline chart) you have a chance of actually changing the "base price" on which the Renko blocks are formed, and therefore blocks may seem to disappear or re appear."

How do I rectify this problem?