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MT4-Indicator: Adjustable Shift Renko Chart Builder Indicator

  • #181
  • Nov 12, 2013 10:56am Nov 12, 2013 10:56am
thank you for your prompt help
  • #182
  • Nov 13, 2013 2:34am Nov 13, 2013 2:34am
Hi All,

Quoting Kiads
{quote} Hi all, As per request from our friend Harada, I already take a look EA version of renko chart builder RenkoLiveChart v3.3 make some adjustment here and there, adding starting price calculation and also adjustable shifting capabilities. I don't know if there is hidden bugs since i don't test her in long period.. ( just little bit more than one hour...lol). So here we go, EA version of renko...


Kiads,

Thank you so much!! I tried this new version and it’s definitely lighter on resources than the indi one. Working well too so far. I have 5 charts opened simultaneously without any major lags. Awesome!

Thanks again for your help and great work!

Best regards,
Harada
  • #183
  • Nov 13, 2013 10:02am Nov 13, 2013 10:02am
Quoting Kiads
{quote} Hi all, As per request from our friend Harada, I already take a look EA version of renko chart builder RenkoLiveChart v3.3 make some adjustment here and there, adding starting price calculation and also adjustable shifting capabilities. I don't know if there is hidden bugs since i don't test her in long period.. ( just little bit more than one hour...lol). So here we go, EA version of renko chart builder RenkoLiveChart v3.3 with starting price and adjustable shift capabilities.. Enjoy... and let me know if there is a bug or something..weird....
Kiads, is it possible to modify RenkoLiveChart v3.3 to draw bars as Renko_Live_Jake_para_real_v5 (http://www.forexfactory.com/attachment.php?attachmentid=1305322&d=1383555441)?
  • #184
  • Nov 14, 2013 7:48am Nov 14, 2013 7:48am
Hello Kiads, have you tried your ! T_Kiads BMI Long Mod v01 with these renko charts, is there any adjustments necessary?
  • #185
  • Nov 14, 2013 9:47am Nov 14, 2013 9:47am
Quoting altoronto
{quote} Kiads, is it possible to modify RenkoLiveChart v3.3 to draw bars as Renko_Live_Jake_para_real_v5 (http://www.forexfactory.com/attachment.php?attachmentid=1305322&d=1383555441)?
Yes, My Friend its possible and also with shift adjustment but the result will look so weird..

If you can explained clearly your idea how to use it, I will try to mod this parallel option..


Best Regards
  • #186
  • Nov 14, 2013 9:54am Nov 14, 2013 9:54am
Quoting fire680
Hello Kiads, have you tried your ! T_Kiads BMI Long Mod v01 with these renko charts, is there any adjustments necessary?
Hi, My Friend Fire680

I make modification to BMI indicator in relation with BMI Trading Technic so all the calculations for that indicator is related to this BMI, but if you found this indicator useful with shifted renko than maybe if you don't mind you can explained here. In General of course you should make some adjustment according to the type of renko chart you choose and also the size of the bricks, That BMI Long Mod v01 optimizing for JPY pairs especially GBPJPY and EURJPY.


Hope it help and best regards..
  • #187
  • Nov 14, 2013 10:08am Nov 14, 2013 10:08am
Thank you Kiad for your response, but I don't know what adjustments to make
  • #188
  • Nov 14, 2013 10:19am Nov 14, 2013 10:19am
I love that indicator it is my favorite I just don't know if it will work properly with the renko charts of yours
  • #189
  • Nov 14, 2013 1:30pm Nov 14, 2013 1:30pm
Quoting Kiads
{quote} Yes, My Friend its possible and also with shift adjustment but the result will look so weird.. If you can explained clearly your idea how to use it, I will try to mod this parallel option.. Best Regards
Kiads, yes with shift adjustment will look weird for sure. What I noticed with RenkoLive Jake is taking a lot of CPU power so if you can modify RenkoLiveChart v3.3 to draw parallel bars that will be great.
  • #190
  • Nov 14, 2013 1:50pm Nov 14, 2013 1:50pm
Quoting altoronto
{quote} Kiads, yes with shift adjustment will look weird for sure. What I noticed with RenkoLive Jake is taking a lot of CPU power so if you can modify RenkoLiveChart v3.3 to draw parallel bars that will be great.
Ok. My Friend I will try.. quick mod..
  • #191
  • Nov 14, 2013 2:31pm Nov 14, 2013 2:31pm
Quoting Kiads
{quote} Ok. My Friend I will try.. quick mod..
Well, here we go, as per request from our friend Altoronto

I try to mod Renko Chart Builder EA : RenkoLiveChart v3.3 to draw parallel bricks. I still put adjustable shift option but set 100% as default, so as long as you don't change it , the bricks will not shifted. I also fixed (hopefully) some minor bug from original RenkoLiveChart v3.3 that sometime draw strange very long tail/wicks. Starting Price as usual, and decimal bricks size. I make some adjustment in the loop so she will draw current brick quicker than original code.

Hopefully this will helpful, and if you found good idea with this one, please help us by explaining here if you don't mind.

Enjoy and Happy Trading.


Attached Image (click to enlarge)
Click to Enlarge Name: 20131115-MTH RenkoLiveChart v3_3 mod parallel shifted USDCHF 5point 100%.png Size: 214 KB


Attached File(s)
File Type: ex4 ! MTH RenkoLiveChart_v3.3 para mod adjustable shift v01.ex4   9 KB | 1,252 downloads
  • #192
  • Nov 14, 2013 3:41pm Nov 14, 2013 3:41pm
Thanks Kiads, yes I have couple of ideas and of course I'll let you know here in this thread.
  • #193
  • Nov 15, 2013 8:22am Nov 15, 2013 8:22am
Hello Kiads,

congratulations for this thread, it's a very usefull version of Renko !!

I use a modified version of MA indicator, but consume a lot of cpu resources. Would be possible to add a variable like "Maxbars" to limit the calculation bars like you have in your Renko indicator??

The indicator is "MA in Color_wAppliedPriceV1" but it uses "VarMA_v1[1].2", i have attached both of them.

Thanks in advance!!!
Attached File(s)
File Type: mq4 MA in Color_wAppliedPriceV1.mq4   5 KB | 976 downloads
File Type: mq4 VarMA_v1[1].2.mq4   5 KB | 963 downloads
  • #194
  • Nov 15, 2013 10:04am Nov 15, 2013 10:04am
Quoting jtrujillo
Hello Kiads, congratulations for this thread, it's a very usefull version of Renko !! I use a modified version of MA indicator, but consume a lot of cpu resources. Would be possible to add a variable like "Maxbars" to limit the calculation bars like you have in your Renko indicator?? The indicator is "MA in Color_wAppliedPriceV1" but it uses "VarMA_v1[1].2", i have attached both of them. Thanks in advance!!! {file} {file}
Hi My Friend Jtrujillo, yes you can add maxbars to your MA in Color indicator, but i think the problem is in your VarMA v1 because her stacked multi loops

but anyway you can try to add maxbars in your MA in Color this is just one line simple code.

just add extern int MaxBars = 1000; (just for example) in your external parameters area of MA in Color code list, then in start area add the line code like this.

original code;

Inserted Code
//---- last counted bar will be recounted
   if (counted_bars>0) counted_bars--;
   limit = Bars - counted_bars;

   for(int i=limit; i>=0; i--)
   {

just add this line of code
Inserted Code
//---- last counted bar will be recounted
   if (counted_bars>0) counted_bars--;
   limit = Bars - counted_bars;
   
[b]if (limit>MaxBars) limit=MaxBars;[/b]
   
   for(int i=limit; i>=0; i--)
   {

hope it help and best regard.
  • #195
  • Nov 15, 2013 11:24am Nov 15, 2013 11:24am
Hello Kiads,

thank you very much for the code and your quick response.

Any idea how to fix those multi loops?
  • #196
  • Nov 15, 2013 11:40pm Nov 15, 2013 11:40pm
Quoting jtrujillo
Hello Kiads, thank you very much for the code and your quick response. Any idea how to fix those multi loops?
Hi My Friend, I believe that's the way Igorad calculation formula for his Variable MA, maybe you can also put MaxBars to this VarMA and adjust your call via iCustom in your MA in Color to include MaxBars parameter too..

Hope it help and best regard.
  • #197
  • Nov 16, 2013 12:43am Nov 16, 2013 12:43am
Why Parallel Renko Chart Type not showing Highest and Lowest Price ?

Hi Guys, there is question about why parallel renko chart not show us original highest and lowest of original source Candlestick chart..?

Well, this is not bug but this is the purpose of the Parallel Renko creation. This type of renko will 'trim' the price because mostly she use for breakout system or find out S/R or S/D area (yes area, not lines). The 'trim' needed to reduce potential of false breakout, so for general rules bigger brick size of this Parallel Renko type will create bigger 'trim' size in high/low area.

This is example from yesterday (Friday) GBPJPY;

source chart GBPJPY M1 Candlestick Chart. my broker Highest :161.630 (magenta line) and Lowest :160.688 (green line).

Attached Image (click to enlarge)
Click to Enlarge Name: 20131116-GBPJPY M1 Renko Source Chart.png Size: 202 KB


and this is GBPJPY M2 Standard Renko Chart 5 point brick with shift 100% using my Renko Chart Builder Indicator v01

Attached Image (click to enlarge)
Click to Enlarge Name: 20131116-GBPJPY M2 Standard Renko Chart 5point-shift 100%.png Size: 202 KB


You see that the wicks reach highest and lowest just same as original candlestick source chart

and this is GBPJPY M3 Parallel Renko Chart 5 point brick with shift 100%

Attached Image (click to enlarge)
Click to Enlarge Name: 20131116-GBPJPY M3 Parallel Renko Chart 5point-shift 100%.png Size: 213 KB


In this Parallel type renko chart, you see that the bricks not 'touch' highest or lowest of the day but 'trimmed' to the closest brick from highest or lowest, and the trim size will be less than the brick size.

So if you are sure that there is S/R or S/D area within the 'size' of your bricks parallel row ( to determine your brick size, you can research in your chart history the average 'range' of S/R or S/D area), you can put your SL just slightly bigger than your brick size above or bellow that S/R or S/D area that 'show up' in your Parallel Renko Type.

Now, if you want to 'check' where is the 'place' of Highest or Lowest point of the day with this Parallel Renko Chart type, its simply by change her shift value from 100% to let say 50% (yes, she will look little bit ugly). like this picture bellow;

Attached Image (click to enlarge)
Click to Enlarge Name: 20131116-GBPJPY M3 Parallel Renko Chart 5point-shift 50%.png Size: 274 KB


You see that the brick now exceed the original Highest or Lowest of the day, that because this type of renko always 'rounded up' or 'rounded down' the source feed following her brick size.

Hope it help, and you can take the advantage and understand her disadvantage when you build your trading system with this type of renko chart.

Happy Trading and Best Regard
  • #198
  • Nov 20, 2013 8:37pm Nov 20, 2013 8:37pm
Creating more long term Shifted Renko Chart

Hi Guys,
Is been a while since my last post, and one of our friend asking that it is possible to create more long term renko chart ?, and the answer is definitely yes.
There is no rule to always stick to M1 TF as your data source. At this example I create my shifted renko chart from USDCHF D1 TF candlestick chart, with 80 point brick size (this is approx average daily range for USDCHF) and i shifted 12.5% (10 point step).

As comparison reference I use SMA 10 on median price (HL/2) (Blue Line), so you can compare the reaction of this MA on both charts (Daily Candlestick chart and "daily" Shifted Renko chart).

USDCHF Daily Candlestick source chart

Attached Image (click to enlarge)
Click to Enlarge Name: 20131121-USDCHF Daily Candlestick Chart.png Size: 272 KB


USDCHF 'Daily' Shifted Renko chart 80p-12.5% shifted.

Attached Image (click to enlarge)
Click to Enlarge Name: 20131121-USDCHF Daily Shifted Renko Chart 80p 12.5% shifted.png Size: 296 KB


Hope it help and happy trading
  • #199
  • Nov 23, 2013 5:00am Nov 23, 2013 5:00am
Dear Kiads,i thank you for your indi!I actively use it, and it brings me a profit.
I don't understand why people aren't active in this thread.
I will wait still for your development!
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdmm2-14p.png Size: 55 KB
Imagination is more important than knowledge.
  • #200
  • Nov 23, 2013 10:46pm Nov 23, 2013 10:46pm
Quoting KrisBeli
Dear Kiads,i thank you for your indi!I actively use it, and it brings me a profit. I don't understand why people aren't active in this thread. I will wait still for your development!{image}
Thank You Mdm, I'm glad if this shifted renko help you..
I wish you get continuously success with your trade

I still develop some indicators that match with this shifted renko environment, and i will share it here if already done

Happy weekend and best regard
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