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Fxkred's Renko System

  • #161
  • Oct 1, 2012 3:22am Oct 1, 2012 3:22am
Quoting damonl
It would be great to have an ea that would automatically close open trades if a bar closed in the opposite direction as the way the trade was placed. As such, if I were long using 5 pip bars and had to leave, I could put on the EA and I could leave my trade open since I know that the EA would close my order as soon as a 5 pip bar closed against me. Kind of like a safety feature if I had to leave an open trade.

[font=Century Gothic][color=#8b0000]Do you know of any such software like that out...
HI Damonl,
I was thinking that ea, but it was not put in code, yet. But inevitable to write it as loose lots of money yet on multiple market, when they turn together, and was unable to close the turning markets only at the same time.
Thanks for the vote anyway. Need some time to keep my promises.
100 pips a day, keeps the doctor away
  • #162
  • Oct 1, 2012 4:57am Oct 1, 2012 4:57am
Indeed it would lose lots of pips, but as a function to set to true in case of something going on and had to leave, etc. It would be a nice feature to have "thumbs up" .

I took a nice trade off eurusd. It seems to be the only pair that is moving. It was pretty easy to follow the waves and be pretty positive that it was going to head up today. Wolf Wave definietly was giving a signal at a point I was going to go long myself. Funny to get exact sentiment as mine from an indicator.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 36 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #163
  • Oct 2, 2012 2:09am Oct 2, 2012 2:09am
Quoting damonl
Indeed it would lose lots of pips, but as a function to set to true in case of something going on and had to leave, etc. It would be a nice feature to have "thumbs up" .
I was thinking about this EA. Even I got a name for it. PipTrapper, as it traps the pips, not let them to escape from our pocket

And more important things:

The EA must identify the trend. I have a simple solution: examine the las X renko candle. The number x can be set.
For example, if the x= 2 , then the EA will sense an uptrend, if 2 consecutive up renko bar will be plotted.

If the trend is identified, then can be set that how many of oppisite candle have to be occur when close the trades.

The way of trade closing is another problem.
I think, there would be several options that close trade.

Option 1: Closing the involved currancy pair only where the EA running.
option 2: Close all open and pending order.

That is how I imagine this EA in the first round.

By the way, there is another inquery for making an EA, it is about an opening a trade at special way. I will handle this two ea together.

Any idea, opinion reagrding this EA?
100 pips a day, keeps the doctor away
  • #164
  • Oct 2, 2012 5:42pm Oct 2, 2012 5:42pm
I like the idea of attaching as many pips as possible. My thought on an entry though is to be more aggressive than waiting for 2 bars to close. To use something else to determine trend direction, and than enter in that direction with 1 bar, and maybe not even enter at all in the other direction. Just a thought, but I always like to enter the trade in favor of momentum, and to never enter a trade against.

Did you make some nice pips today? I was playing a move without renko today on the daily chart that seems to not have ocurred so I gave most of them back before exiting. Still considering entering long again before london open, but I will have to see what happens between now and than.

Quoting fxkred
I was thinking about this EA. Even I got a name for it. PipTrapper, as it traps the pips, not let them to escape from our pocket

And more important things:

The EA must identify the trend. I have a simple solution: examine the las X renko candle. The number x can be set.
For example, if the x= 2 , then the EA will sense an uptrend, if 2 consecutive up renko bar will be plotted.

If the trend is identified, then can be set that how many of oppisite candle have to be occur when close the trades.

The way of trade closing is another problem.
I...
"Keep your eyes on the helpers" - Mr. Rogers
  • #165
  • Oct 2, 2012 7:03pm Oct 2, 2012 7:03pm
Quoting damonl
I like the idea of attaching as many pips as possible. My thought on an entry though is to be more aggressive than waiting for 2 bars to close. To use something else to determine trend direction, and than enter in that direction with 1 bar, and maybe not even enter at all in the other direction. Just a thought, but I always like to enter the trade in favor of momentum, and to never enter a trade against.

[font=Century Gothic][color=#8b0000]Did you make some nice pips today? I was playing a move...
Have you guys tried with Psar Step 0.1 max 0.2?
I was looking for an EA to open 1 order per bar in conjunction with the Psar above.
  • #166
  • Edited Oct 4, 2012 5:34am Oct 3, 2012 11:44am | Edited Oct 4, 2012 5:34am
Hi all,

Proudly presents the very first version of the Renko PipTrapper EA.

There are two main function of it.

#1 Close all open trades of that instrument, when the first opposite Renko bar close.

Details:

After a given number of renko bars the EA supposes that is a trend.

For example, if the NimberOfREnkoForTrend = 3, then the EA after 3 consecutive green candle suppose to be uptrend, and after 3 consecutive red renko bar the EA suppose that is downtrend.


If the first opposite candle closing, and THERE IS A RUNNING TRADE, then the EA close ALL of the open trade of the instrument in question.

Means, if there are 1 or 2 or 3 etc trade, close it all! But only of that insrument, the other open trades let running.


#2

The another function of the EA to initiate buys at given level.

Details:

The problem is with buystop, that have to be set at ask level (bid +sread).
In case of Spread widening, the buystop able to initiate before the Renko bar closing up.


The EA watching the bid level and initiate the buy trade after the bid price hits the given level (for examle the Renko closing level).

CAUTION: THIS IS A DRAFT VERSION, MAY CONTAINS SERIOUS FAULTS!!! DO NOT USE ON LIVE ACCOUNT!
Attached File(s)
File Type: ex4 Fxkreds_PipTrapper_v_0.05.ex4   9 KB | 638 downloads
100 pips a day, keeps the doctor away
  • #167
  • Oct 7, 2012 12:30pm Oct 7, 2012 12:30pm
That is good chance to get experiences with PipTrapper EA during the NFP news.
I let the EA on 100point renko bar.
Attached Image (click to enlarge)
Click to Enlarge Name: PipTrapper in work with gold r100.jpg Size: 125 KB
100 pips a day, keeps the doctor away
  • #168
  • Oct 7, 2012 6:56pm Oct 7, 2012 6:56pm
That is an interesting idea on the ea. Seems like it might not be a bad idea, as renkos go, I know depending on the settings that sometimes they can go 20 bars without a reversal, regularly, and when that happens, gosh, you will be a rich man. As Bill Williams says, "the key is to keep your profits when the maket is ranging."

Have you done any testing? What are your thoughts, knowing your rules about how it looks on a visual basis. I also did not know that you programed your own stuff. That is so awesome. Maybe someday I will take the time to learn for myself, but there are too many other priorities in my life to take on that task at the moment.
"Keep your eyes on the helpers" - Mr. Rogers
  • #169
  • Edited 4:13am Oct 8, 2012 3:56am | Edited 4:13am
I do not believe in EA alone, without human intervention. I want to use it to make the slave labor. But as EA there is no psychology, sometimes makes good service.

I have not got enough time to make some statistical research how many renko goes consecutively at different pair, different renko sizes, regarding the spread.
Interesting area, but something like soerching the holy grail. Searched enough, and tired of it, so staying feet on the ground.
100 pips a day, keeps the doctor away
  • #170
  • Oct 9, 2012 2:53am Oct 9, 2012 2:53am
There is an fight between ordinary renko candle user and median renko candle user. I have found an interesting picture, where it is explained what is the theoretical difference between them, and why the median is used by professionals.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: renko_exp.jpg Size: 55 KB
Click to Enlarge Name: Renko_median.png Size: 12 KB
100 pips a day, keeps the doctor away
  • #171
  • Oct 9, 2012 4:16am Oct 9, 2012 4:16am
To have the conclusion what is the main difference between the mean(medium) and ordinary renko, we can say that what is the advantage, that could be the disadvantage, too.
I mean the mean renko is more sensitive easier to turn. If the trend turns it bigger help, but when the trend do not turns then gives a false signal.

I saw mean renko EA for 35$ but I think a smart programmer easily can transcode the free RenkoLiveChart EA to be show medium renko candles.
100 pips a day, keeps the doctor away
  • #172
  • Oct 9, 2012 5:54am Oct 9, 2012 5:54am
I give you an example, from today's EU 4R chart. How different could be in this two types of renko. Everybody can decide which is easier to trade.
Attached Image (click to enlarge)
Click to Enlarge Name: Ordinary_Ws_Median.jpg Size: 87 KB
100 pips a day, keeps the doctor away
  • #173
  • Oct 9, 2012 6:06am Oct 9, 2012 6:06am
As I thought it, maybe wiser to compare the 2 pips ordinary and the 4 pips median renko. Here you are the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: Ordinary2_Ws_Median4.jpg Size: 95 KB
100 pips a day, keeps the doctor away
  • #174
  • Oct 9, 2012 9:37am Oct 9, 2012 9:37am
Let us see, what to do with median renko. Not much difference to trade.
Take the fib confluence level and travel in it until you able.
Attached Image (click to enlarge)
Click to Enlarge Name: EU4r_121009_fib confluence.jpg Size: 103 KB
100 pips a day, keeps the doctor away
  • #175
  • Edited 2:15am Oct 10, 2012 1:38am | Edited 2:15am
And now, who are courious, or eager to try the median renko, here is a draft version of the transcoded RenkoLiveChart.

Not so sophisticated, and do not deals every details, but makes median renko. Very good to test your favourite indicators, and feel the difference
If you like do not forgot to give a vote!
Attached File(s)
File Type: ex4 RenkoLiveChart_Betterv3.301_fxkred.ex4   12 KB | 1,107 downloads
100 pips a day, keeps the doctor away
  • #176
  • Oct 11, 2012 9:38am Oct 11, 2012 9:38am
Quoting fxkred
And now, who are courious, or eager to try the median renko, here is a draft version of the transcoded RenkoLiveChart.

Not so sophisticated, and do not deals every details, but makes median renko. Very good to test your favourite indicators, and feel the difference
If you like do not forgot to give a vote!
Can u pls publish the MQL file ?
  • #177
  • Oct 12, 2012 8:27am Oct 12, 2012 8:27am
There was a series of harmonic pattern on DAX 4 median renko, while it was ranging.
Attached Image (click to enlarge)
Click to Enlarge Name: eu_4Mr_121012.jpg Size: 91 KB
100 pips a day, keeps the doctor away
  • #178
  • Oct 12, 2012 10:00am Oct 12, 2012 10:00am
Quoting fxkred
There was a series of harmonic pattern on DAX 4 median renko, while it was ranging.

HI Fxkred,

I will try the median renko , I saw that indi as well for $35.
This version that you coded has the volume info within?
Which ZUP are you using with 4R?

Best rgds
  • #179
  • Oct 12, 2012 1:19pm Oct 12, 2012 1:19pm
Quoting Kavklov
HI Fxkred,

I will try the median renko , I saw that indi as well for $35.
This version that you coded has the volume info within?
Which ZUP are you using with 4R?

Best rgds
Zdrastvujte Kavlklov

Glad to like the renko. As my modification based on LiveChartRenko, so it has the volume info. According to ZUP, I do not use it, so easy to recognise with renko chart, so unnecessery. Just a handmade drawing.
100 pips a day, keeps the doctor away
  • #180
  • Oct 13, 2012 8:38am Oct 13, 2012 8:38am
Quoting fxkred
Zdrastvujte Kavlklov

Glad to like the renko. As my modification based on LiveChartRenko, so it has the volume info. According to ZUP, I do not use it, so easy to recognise with renko chart, so unnecessery. Just a handmade drawing.
Hi Fxkred,

Let me explain why the volume is important to my trades. We all know that Forex is not a centralize ECN, right? But if we apply the Renko with volume to a centralize ECN like Bovespa Indice Futures whe can get an acurate reading of volume in a Renko box. So I am getting a feed direct from the Bovespa ECN and apply this idea to it.
Thanks a lot for your great work

Best rgds,
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