MT4-Indicator: Adjustable Shift Renko Chart Builder Indicator | Page 11 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

New Time-Adjustable Daily Pivots Indicator for MT4 68 replies

Adjustable fractal indicator help! 5 replies

New Renko Bar and Reversal Renko Bar Indicator Alert Help Please 5 replies

Adjustable PIVOT Points indicator 5 replies

Useful OHLC adjustable pivots indicator for MT4 0 replies

Attachments: MT4-Indicator: Adjustable Shift Renko Chart Builder Indicator
Exit Attachments

MT4-Indicator: Adjustable Shift Renko Chart Builder Indicator

  • #201
  • Nov 25, 2013 2:59am Nov 25, 2013 2:59am
Hi All,

Quoting KrisBeli
...I don't understand why people aren't active in this thread...


I think the reason is that Kiads created this thread to introduce his awesome indicators to us. I’m –among others- very grateful to him for what he’s doing and appreciate his work. But since it’s not a thread for posting your entries or strategies you can’t do much but thank him and maybe ask questions if something is not clear. And since he explains his stuff pretty well there is not much to ask really. This is just my opinion.

Kiads,

I’m still using your shifted renko EA and it works pretty well. I’m very happy with it and can’t thank you enough.

I wish everyone tons of pips and good luck!

Regards,
Harada
  • #202
  • Nov 25, 2013 4:24am Nov 25, 2013 4:24am
Quoting Harada
Hi All, {quote} I think the reason is that Kiads created this thread to introduce his awesome indicators to us. I’m –among others- very grateful to him for what he’s doing and appreciate his work. But since it’s not a thread for posting your entries or strategies you can’t do much but thank him and maybe ask questions if something is not clear. And since he explains his stuff pretty well there is not much to ask really. This is just my opinion. Kiads, I’m still using your shifted renko EA and it works pretty well. I’m very happy with it and can’t...
Thank You My Friend Harada,

And yes indeed, this thread only to introduce and explained this little tool, and also any addition support tools for this shifted renko builder and also if there is any technical issue related to this tool.

If some of our friends here found this tool useful and already build some solid trading systems, if he/she want to share it for our FF community here, maybe better if he/she open new thread in the correct sub forum (trading system) so we can discuss further with more specific way.

I'm always very happy if any tools that i share can work and help others.. and that really more valuable then my own trading profit..

Happy Trading and best regard
  • #203
  • Nov 25, 2013 7:42am Nov 25, 2013 7:42am
I too have been using the adjustable shift Renko and am very grateful to Kiads for all his work. I agree with everything Harada says. Kiads explains his work so well that I have not had to ask too many questions. I trade off PA using MTF and no indicators at all so I am not sure anything I post would of much help to anyone. Many thanks Kiads - you are a star!
  • #204
  • Nov 25, 2013 8:40am Nov 25, 2013 8:40am
Quoting Zoog
I too have been using the adjustable shift Renko and am very grateful to Kiads for all his work. I agree with everything Harada says. Kiads explains his work so well that I have not had to ask too many questions. I trade off PA using MTF and no indicators at all so I am not sure anything I post would of much help to anyone. Many thanks Kiads - you are a star!
Thank You, My Friend Zoog, I wish you success with your PA trading with shifted renko.

Just little suggestion if your PA system is looking for S/R area or turning point. did you ever try to create shifted renko chart from H1 or H4 source charts ? Use small size renko box like 4 point and shift 25%.(1 point step angular renko type) this will create real 'zig-zag' shape with general direction of PA. also for more easier to check the price movement, maybe better if you look for maximal negative correlation pairs like EURUSD and USDCHF for comparison, even if you only trade one of it. Also you can trade 'buyer only trade system' that only put long entry in which one is in lowest position, and switch to the other when market movement change direction..

Hope it help, Happy Trading and best regard.
  • #205
  • Nov 25, 2013 1:10pm Nov 25, 2013 1:10pm
Many thanks I will certainly try that. What I do is to use various box sizes and then combine them with long term charts. Its pretty basic.I trade three or four low correlated pairs. I look for the longer term trend and then the medium trend and then trade shorter term only in the direction of both.
  • #206
  • Nov 25, 2013 1:23pm Nov 25, 2013 1:23pm
Thanks for the new idea, wondering if you are using any indicators with this newest method as filters?
  • #207
  • Nov 26, 2013 9:04pm Nov 26, 2013 9:04pm
Quoting Kiads
{quote} Thank You, My Friend Zoog, I wish you success with your PA trading with shifted renko. Just little suggestion if your PA system is looking for S/R area or turning point. did you ever try to create shifted renko chart from H1 or H4 source charts ? Use small size renko box like 4 point and shift 25%.(1 point step angular renko type) this will create real 'zig-zag' shape with general direction of PA. also for more easier to check the price movement, maybe better if you look for maximal negative correlation pairs like EURUSD and USDCHF for comparison,...
hi kiads,

i want to ask about opening of a new candle in shifted renko. let say my renko size is 10 pips. i use 50% shifted. i confused with opposite direction candle. if now i have bull candle, when will bear candle will be appear? after 10 pips against last bull candle or when price move 50% from it? if you ask me,what i see is after price move 10pips in opposite direction. am i right?
Trend. Price. And nothing else matters.
  • #208
  • Nov 27, 2013 3:20am Nov 27, 2013 3:20am
Quoting forex_lover
{quote} hi kiads, i want to ask about opening of a new candle in shifted renko. let say my renko size is 10 pips. i use 50% shifted. i confused with opposite direction candle. if now i have bull candle, when will bear candle will be appear? after 10 pips against last bull candle or when price move 50% from it? if you ask me,what i see is after price move 10pips in opposite direction. am i right?
Hi My Friend Forex Lover,

Picture will explain better.. for your question about turning range in shifted renko..

Attached Image (click to enlarge)
Click to Enlarge Name: 20131127-GBPUSD p10shift50% brick turning range example.png Size: 427 KB


Hope it help and best regard.
  • #209
  • Nov 27, 2013 8:12am Nov 27, 2013 8:12am
H kiads. Just read your entire thread from start to finish.(never done that before.)
Your welcome to the "V" you deserve it & many more.
I have tried before to use renko charts without success as I have not understood how to set them up for my style of trading. Now I will set them up from your settings & your renko adjustable shift.
Interesting you use the DeMark indicator & very interesting the way you have modified the settings.
I will post some charts as soon as I have it all set up. I am keen to see if my DeMak projection lines work with your Renko set up. Cheers.
Money Makes Money
  • #210
  • Nov 27, 2013 8:12pm Nov 27, 2013 8:12pm
Quoting Kiads
{quote} Hi My Friend Forex Lover, Picture will explain better.. for your question about turning range in shifted renko.. {image} Hope it help and best regard.
thanks kiads. you confirmed my understanding about renko chart. well, i wonder if you know any way to make renko chart moves by % shifted value only and ignore the points value. so by this we will have a beautiful chart and easily to predict the direction of price. example i put 240 points with 12.5% shifted so the idea is i want to see every brick formed after 30 points in any direction up/down. but still forming opposite renko bar just by using 30 points not waiting 240 points. you got what i mean? the value of 240 points is just a point to use when forming 30 points renko bar continuously.
Trend. Price. And nothing else matters.
  • #211
  • Nov 27, 2013 9:32pm Nov 27, 2013 9:32pm
Quoting KiwiOz
H kiads. Just read your entire thread from start to finish.(never done that before.) Your welcome to the "V" you deserve it & many more. I have tried before to use renko charts without success as I have not understood how to set them up for my style of trading. Now I will set them up from your settings & your renko adjustable shift. Interesting you use the DeMark indicator & very interesting the way you have modified the settings. I will post some charts as soon as I have it all set up. I am keen to see if my DeMak projection lines work with your...
Hi My Friend KiwiOz,

Thank You for your support, and I really hope that this shifted renko work with your DeMark Projection Lines. At Standard Candlestick Chart, DeMark Projection Lines work great with HTF like H4 up, maybe you can try to create shifted renko chart also from H4 source chart not M1. This will give you more smoothed wave in renko chart history at this example pictures bellow i use 17 point brick size (1/2 of H4 average candlesticks length of GBPUSD for 24 periods), with 25% shift.

in both pictures i use RealWoodie CCI with 17.9.34.3 setting and superimpose DeM 9 (aqua thick line) with Fixed minimum -0.1 and Fixed maximum 1.1 and set level to 0.15 and 0.85

Attached Image (click to enlarge)
Click to Enlarge Name: 20131128-GBPUSD RenkoChart 17p25% from H4source with RealWoodie 17-34-9-3 and DeM 9.png Size: 598 KB


Happy Trading and Best Regard
  • #212
  • Nov 27, 2013 9:58pm Nov 27, 2013 9:58pm
Quoting forex_lover
{quote} thanks kiads. you confirmed my understanding about renko chart. well, i wonder if you know any way to make renko chart moves by % shifted value only and ignore the points value. so by this we will have a beautiful chart and easily to predict the direction of price. example i put 240 points with 12.5% shifted so the idea is i want to see every brick formed after 30 points in any direction up/down. but still forming opposite renko bar just by using 30 points not waiting 240 points. you got what i mean? the value of 240 points is just a point...
Hi. My Friend Forex Lover.
I hope i understand your idea, the problem is in building this renko chart the file read/write function only allow 1 set of data of OHLC and Volume for each tick time. Yes of course we can create custom offline chart not base on point as our range limiter, but use percentage of movement as calculation base let say the chart will create new brick/bar every 0.01% of price change in any direction. but the result will be similar as point.

If you want to visually 'see' the movement of smaller size bricks inside bigger size of bricks or TF candles you can use custom candle indicator to do that. but this is not so accurate since renko chart is timeless so any object creation that use time as their reference will be not so accurate.

Bellow is example of renko chart with 5 point and 100% shift (standard renko chart) with custom candle emulation of H4 candle.

Attached Image (click to enlarge)
Click to Enlarge Name: 20131128-GBPUSD Renko Chart 5p100% H4source with H4 custom candle indicator.png Size: 483 KB


Hope it help and Happy Trading.
  • #213
  • Nov 28, 2013 1:16am Nov 28, 2013 1:16am
Quoting Kiads
{quote} Hi. My Friend Forex Lover. I hope i understand your idea, the problem is in building this renko chart the file read/write function only allow 1 set of data of OHLC and Volume for each tick time. Yes of course we can create custom offline chart not base on point as our range limiter, but use percentage of movement as calculation base let say the chart will create new brick/bar every 0.01% of price change in any direction. but the result will be similar as point. If you want to visually 'see' the movement of smaller size bricks inside bigger...
thanks my friend kiads..
Trend. Price. And nothing else matters.
  • #214
  • Nov 28, 2013 7:42am Nov 28, 2013 7:42am
Quoting Kiads
{quote} Hi My Friend KiwiOz, Thank You for your support, and I really hope that this shifted renko work with your DeMark Projection Lines. At Standard Candlestick Chart, DeMark Projection Lines work great with HTF like H4 up, maybe you can try to create shifted renko chart also from H4 source chart not M1. This will give you more smoothed wave in renko chart history at this example pictures bellow i use 17 point brick size (1/2 of H4 average candlesticks length of GBPUSD for 24 periods), with 25% shift. in both pictures i use RealWoodie CCI with...
Cheers mate. I am amazed at how helpful & patient you are. You have done a wonderful job on the Renko system. I have tried different settings as per your suggestions & have found the 5 point with 50% shift to be the best & most profitable set up. Also uses the least CPU.
I have added a simple 10 SMA to the chart & quite frankly you do not need any other indicators at all. In fact you don't even need to know in which direction the pair is trending. Not that it doesn't pay to know for safety's sake.
I have found the Daily chart the best of all. Gives an M1 look to the Renko chart without the noise & "Panic syndrome"
Once again, a great job well done. Hopefully your followers & readers in general will start posting charts & trading ideas on your thread to compliment it.
I have so far loaded your Renko onto the Aud/Usd & Eur/Aud charts. Still playing with the settings for GOLD Chart. Seems to require different settings.??
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm2.png Size: 32 KB
Money Makes Money
  • #215
  • Nov 28, 2013 8:36am Nov 28, 2013 8:36am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting KiwiOz
{quote} Cheers mate. I am amazed at how helpful & patient you are. You have done a wonderful job on the Renko system. I have tried different settings as per your suggestions & have found the 5 point with 50% shift to be the best & most profitable set up. Also uses the least CPU. I have added a simple 10 SMA to the chart & quite frankly you do not need any other indicators at all. In fact you don't even need to know in which direction the pair is trending. Not that it doesn't pay to know for safety's sake. I have found the Daily chart the best of...
Awesome
MT4/MT5 EAs/Indicators/Alerts coder
  • #216
  • Nov 28, 2013 9:08am Nov 28, 2013 9:08am
Quoting KiwiOz
{quote} Cheers mate. I am amazed at how helpful & patient you are. You have done a wonderful job on the Renko system. I have tried different settings as per your suggestions & have found the 5 point with 50% shift to be the best & most profitable set up. Also uses the least CPU. I have added a simple 10 SMA to the chart & quite frankly you do not need any other indicators at all. In fact you don't even need to know in which direction the pair is trending. Not that it doesn't pay to know for safety's sake. I have found the Daily chart the best of...
Hi My Friend,

I believe that you already understand this basic concept of offline chart creation including renko chart, but i will repeat the explanation for all of our friends here.

Building offline renko chart that emulate online chart consist of 2 steps;
1. read the data source (online candlestick chart history file/hst) and write new hst file according to our setting parameters. at this step, different data source will give you different visual output, since any TF has its own OHLC so TF M1 will look more rough than TF D1 that visually give you very smooth output offline chart. This is because one D1 bullish candle only give the chart builder straight open price to close price for let say 90 point range, so it will convert to 5 point renko chart shifted 50% as straight 36 bullish bricks.


2, after the renko chart builder convert the history file of candlestick chart, then the next step is read-write processing to emulate online chart for that offline chart. the 'builder' will read every incoming tick data (bid price), and convert it to progressing brick according to our setting parameters. At this stage, no matter of TF we put the builder on, the result will be 'visually' the same, as long as you don't 'refresh'/'re-init' the builder that will make the builder to go back to step 1. If You 'refresh' the builder, then that 'online' emulation bricks will 'change' according to 'new' input history of source TF data that 'unrecorded' before.

So, in conclusion, putting the renko chart builder (Indicator or EA) in Higher Time Frame, will give you more 'smooth' chart history, but will not give you same 'smooth' price movement for real time. But in geometrical 'point of view' including Trendliner, this will help to 'visually' find out extrema, and general trend.

For the problem about CPU 'slowdown'. In my mod version 'builder' , there is 'MaxBars' limiter. this is for limiting the 'source' data and not the result output, for example if you put MaxBars like 10000, this will read 10000 bar of M1 if you put the builder in M1 source chart, and also read 10000 bar of D1 if you put the builder in D1 source chart. So, if you set the brick size to 5 point with shift 50% (2.5 point step), with D1 source chart and put MaxBars to 10000, you can imagine how big the read-write process in every incoming tick data.

My suggestion, you can set MaxBars according to your source data TF with general range of 2 months, this is also depend on the brick size and the shift percentage. for example if you taka M1 as your source data, approximately 2 months equal to 40 days x 1440 M1 bars/day = 57600 bricks if every 1 minutes candle equal to 5 point brick shifted 100% but if you shifted 50% then the result hst file will consist of 115200 bricks theoretically.

So for Daily Candle source chart, maybe better if you put MaxBars just 40 or 60 bars, this will make read-write processing less CPU resources consuming.

I Hope i'm not explaining wrong...

Happy Trading and Best Regard.
  • #217
  • Nov 28, 2013 9:25am Nov 28, 2013 9:25am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting FerruFx
{quote} Awesome
Hmmm ... missed that you were taking data from D1 chart ... so of course it looks awesome on history ... as well explained by Kiads.
MT4/MT5 EAs/Indicators/Alerts coder
  • #218
  • Nov 28, 2013 9:29am Nov 28, 2013 9:29am
Hi Guys,

For the 'next' development, I already create 'shifted renko chart builder' indicator ver.2, still in testing phase.

This version 2 hopefully will make easier to create offline renko chart. She has capabilities to 'create' any pairs offline renko chart from any TF source data chart without active opening online source data chart.

So for example, you just open 1 online chart in any TF let say EURUSD M5 chart, and click and drag her to it, and set parameters to create USDCHF shifted renko chart from D1 USDCHF, without opening the USDCHF D1 chart itself. Theoretically you can open up to 32 offline renko charts base on that only 1 EURUSD M5 online chart with any pair you like and any TF source data chart you have. With this solution, I believe we can reduce the CPU resources need.

If I already satisfied with 'her' performing in this test phase, i will share 'her' here.

Happy Trading and Best Regard.
  • #219
  • Nov 28, 2013 9:31am Nov 28, 2013 9:31am
Quoting FerruFx
{quote} Hmmm ... missed that you were taking data from D1 chart ... so of course it looks awesome on history ... as well explained by Kiads.
Yes Sir, that why i'm in hurry to explain that
  • #220
  • Nov 28, 2013 9:34am Nov 28, 2013 9:34am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting Kiads
{quote} Yes Sir, that why i'm in hurry to explain that
It was clear in my mind but missed in his post that all was from D1 !
MT4/MT5 EAs/Indicators/Alerts coder
0 traders viewing now