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Attachments: Renko Block Charts
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Renko Block Charts

  • #1,041
  • Nov 11, 2012 3:00am Nov 11, 2012 3:00am
Quoting kkhus
hi guys,

im new to the forum and i'd like some clarifications on renko charts. i currently hold 2 demo accounts and have been using renko on both accounts quite recently for back testing.
i observe that although the brick sizes are set on the same no. of ticks + same time frame + same pairs, somehow the bricks are layered out differently. (Pls see attachment).

Why is this so? How do I rectify it?
That indicator repaints about 3 bars pending the price so even on the same broker or different it will be very hard to get pricely the same setup.
  • #1,042
  • Nov 11, 2012 3:04am Nov 11, 2012 3:04am
Quoting FxSwordfish
I am trying RenkoLiveChart_V3.2 EA version and I see wicks on every candle. So, Renko is just constant candle body not constant range. I suppose this is more a truthful display of price than the one not showing the wicks. Any indicator will be based on previous candles up to the current one. An EA based on the indicator could still issue a false signal since the current candle is not a Renko block until it closes. Am I getting it right?
Range Bar chart, on the other hand, is truthfully showing the price in constant increments.
I can't decide which...
Renko is independant of candles it is price based so you can't assume a candle has finished or not, it will form based on the information you set it i.e how much price movement you want and not whether the candle finished forming or not.
  • #1,043
  • Nov 12, 2012 10:56am Nov 12, 2012 10:56am
This is great charting technique but I was wondering if EA can work on these charts just like they work on Normal charts.
  • #1,044
  • Nov 15, 2012 4:13am Nov 15, 2012 4:13am
Quoting IamTHAT
I am very happy with what has been developed here and indeed this will be a immensely useful tool for me..I was using this on USDJPY and I changed the 1min chart to Daily and this was the result! Trading will be much simpler if all charts are like this!
wow nice chart ^^
btw how about the box size?
I've tried on some boxsize, but I can't fine price looks like that
  • #1,045
  • Nov 17, 2012 5:13am Nov 17, 2012 5:13am
Is there an EA, script or indicator that can generate Renko bricks without the wicks?
  • #1,046
  • Nov 17, 2012 5:24am Nov 17, 2012 5:24am
Check this one: http://codebase.mql4.com/1933
  • #1,047
  • Nov 23, 2012 8:29am Nov 23, 2012 8:29am
Hi, I'm using Renko_Live_Charts 3.2, 10 pips block charts.

Sometime I seem the latest blocks are not correctly designed and they need to be refreshed.

For instance if I shift to 5 pips block and then I return to 10 pips I see a different from previous graph.

I see this when my stop is hit but on the offline chart the price has never riched the stop level.

Could it be a connection problem?

Have you got the same problem?

Thank you!
  • #1,048
  • Nov 23, 2012 11:36am Nov 23, 2012 11:36am
I use the Renko Range indicator - hope it helps.
Also I use combo/trend for direction -standard setting and higher setting on 240 - used to assess overall direction. Attached also.
The MACD indi is great at getting reversals and whilst they are reliable when used with the CCI-55, the trades are few and far between.
Regards
George
Attached Image (click to enlarge)
Click to Enlarge Name: low risk ea 1.gif Size: 37 KB
Attached File(s)
File Type: ex4 RenkoRangeBarsV1.2 R_KG.ex4   11 KB | 1,206 downloads
  • #1,049
  • Nov 23, 2012 12:33pm Nov 23, 2012 12:33pm
Quoting 2george
I use the Renko Range indicator - hope it helps.
Also I use combo/trend for direction -standard setting and higher setting on 240 - used to assess overall direction. Attached also.
The MACD indi is great at getting reversals and whilst they are reliable when used with the CCI-55, the trades are few and far between.
Regards
George
Hey,can you post the macd and the trend indicators?

Thanks in advance.
  • #1,050
  • Nov 24, 2012 5:02am Nov 24, 2012 5:02am
Attached - with the MACD you'll need to assess whether the levels require adjustment. It is easy, just get the red histos to start when the horizontal levels are correct - they help filter out the sideways movement of the price.
The combo is standard for one and as there is no upper timeframe for renko I change the setting to either 30 or 240 to get the 'higher' trend for the second combo on the same chart.
George
Attached File(s)
File Type: ex4 MACD_with_Levels.ex4   6 KB | 902 downloads
File Type: ex4 Combo RSI and CCI.ex4   8 KB | 955 downloads
  • #1,051
  • Nov 24, 2012 6:42am Nov 24, 2012 6:42am
Quoting 2george
Attached - with the MACD you'll need to assess whether the levels require adjustment. It is easy, just get the red histos to start when the horizontal levels are correct - they help filter out the sideways movement of the price.
The combo is standard for one and as there is no upper timeframe for renko I change the setting to either 30 or 240 to get the 'higher' trend for the second combo on the same chart.
George
thank you I will check them out.
  • #1,052
  • Jan 3, 2013 10:53pm Jan 3, 2013 10:53pm
My broker uses EURUSDm charts. However no matter how I set the strange symbol name I cannot get the offline EURUSDm charts or any others that use the "m" suffix. Can anyone help with getting a Renko EA that actually works to generate these charts?
Thanks!
  • #1,053
  • Jan 4, 2013 4:02am Jan 4, 2013 4:02am
Is there anyone with the same problem?


Quoting Alberto_Jazz


Hi, I'm using Renko_Live_Charts 3.2, 10 pips block charts.
Sometime I seem the latest blocks are not correctly designed and they need to be refreshed.
For instance if I shift to 5 pips block and then I return to 10 pips I see a different from previous graph.
Could it be a connection problem?
Have you got the same problem?
  • #1,054
  • Jan 4, 2013 5:34am Jan 4, 2013 5:34am
I think this is because of your starting price. When you start the renko EA it starts the renko blocks at an instant price hence if you stop and start again you won't have an exact graph but it will be identical in formation.
The only way to have identical graphs is to leave your pc etc on collecting ticks which will produce the same graph. Am I right when I say you have been turning off your pc so it does not collect continuous ticks?
  • #1,055
  • Jan 4, 2013 7:18am Jan 4, 2013 7:18am
Quoting tradability
Am I right when I say you have been turning off your pc so it does not collect continuous ticks?
No, I don't turn off my pc.


For some reason, if I change the brick size and then return to the previous size I have a slightly different graph.


I think the only reason could be a problem in the connection with the server, when I see "ping failed" in diary.
  • #1,056
  • Jan 4, 2013 8:31am Jan 4, 2013 8:31am
Missing data does this so it could be disconnection, but it's hard to say why unless further evaluation is done on your system.
  • #1,057
  • Jan 9, 2013 4:03pm Jan 9, 2013 4:03pm
Quoting laro_ron
Hi all,

new update with update improvement. Thanks saussiche.

laro_ron


laro_ron, you've done an outstanding work, thanks for providing the Forex community with this amazing MTF renko EA.

I just feel sorry for not having noticed this EA before as I trade multiple renko charts and even with a reasonable fast PC sometimes MT4 gets very slow due to high CPU usage. As far as I know, it doesn't matter how many cores your PC may have, because as MT4 is single threaded, it does not take advantage of multiple cores. But you solved my problem and I'm glad for that. Thank you once again.

Beto.
  • #1,058
  • Jan 25, 2013 8:57am Jan 25, 2013 8:57am
Hello,

I am a newbie and am facing a problematic situation with the 2 renko versions in this thread.

I am seeing slight differences in the same sized renko boxes (2 pips) between RenkoLiveChart_v3.2 and MTF_RenkoLiveChart_v1.1 in Eurusd.

With one of them my indicator gave a false entry signal while the other didn't.

Both EAs are attached to m1 charts on same broker with exactly same max bars in history and max bars in chart settings and etc.

How come is this possible?
  • #1,059
  • Jan 28, 2013 4:29am Jan 28, 2013 4:29am
Hi Msepf77,
With Renkos, nearly all scripts/EAs do not include a set price value at which to start calculating the blocks. Thus you can get differences in Renko charts for the same Broker, both with different Renko scripts/EAs and even if you just put the same Renko on again a few minutes later. This is not usually a big problem with 2 pip bricks, but when using 10 pips or bigger it is a real pain in the ass.
  • #1,060
  • Jan 29, 2013 10:54am Jan 29, 2013 10:54am
Quoting ianf0ster
Hi Msepf77,
With Renkos, nearly all scripts/EAs do not include a set price value at which to start calculating the blocks. Thus you can get differences in Renko charts for the same Broker, both with different Renko scripts/EAs and even if you just put the same Renko on again a few minutes later. This is not usually a big problem with 2 pip bricks, but when using 10 pips or bigger it is a real pain in the ass.
RLC v3.x has a fix for this, the blocks are calculated like they would be if the price started at zero (+ RenkoBoxOffset if not == 0). I Don't know how MTF_Renoxxx handles this.

/Leif
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