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MT4-Indicator: Adjustable Shift Renko Chart Builder Indicator

  • #221
  • Nov 28, 2013 2:44pm Nov 28, 2013 2:44pm
Dear Kiads,i really believe that you made revolution in Renko.
Imagination is more important than knowledge.
  • #222
  • Nov 28, 2013 5:16pm Nov 28, 2013 5:16pm
Quoting Kiads
{quote} 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...
Explanation loud & clear. Thanks again. You are a wealth of information.
Money Makes Money
  • #223
  • Nov 28, 2013 5:20pm Nov 28, 2013 5:20pm
Quoting Kiads
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...
Money Makes Money
  • #224
  • Nov 29, 2013 10:02am Nov 29, 2013 10:02am
Quoting Kiads
{quote} If you wanna try for fun. here we go.. Just use default for white/gainsboro background chart and add DeM34.. EDIT: Sorry for all friends who already download this Indicator (6 Friends) please re-download again after minor bug fix thx. {file}FX Fish Mod w Signals for GeoRenko v01.mq4 (http://www.forexfactory.com/attachment.php?attachmentid=1301625&d=1383022326)

Mr. Kiads, Many thanks for all the hard work.

as soon as i set the colors and SIZE, and then restart mt4, they revert back to the original setting.......thanks for taking the time to modify this......

Best regards

W
  • #225
  • Nov 29, 2013 11:01am Nov 29, 2013 11:01am
Quoting Badway
{quote} Mr. Kiads, Many thanks for all the hard work. as soon as i set the colors and SIZE, and then restart mt4, they revert back to the original setting.......thanks for taking the time to modify this...... Best regards W
Hi My Friend Badway, since this indicator share in mq4 file type, you can freely modified by yourself..

You can change Histogram color and size with meta editor and recompile it

find this code lines;

#property indicator_color1 C'158,158,158'
#property indicator_color2 C'106,119,134'
#property indicator_width1 3
#property indicator_width2 3

you can change color like this example

#property indicator_color1 Blue // this is color for histogram up
#property indicator_color2 Magenta // this is color for histogram down
#property indicator_width1 3 // this is for histogram up width
#property indicator_width2 3 // this is for histogram down width

after you change you can save and recompile the file.

still you can alter above setting from indicator input tab.
this external input came from this code lines

extern color UpHistoColor = C'158,158,158'; //this is for histogram up color
extern color LoHistoColor = C'106,119,134'; //this is for histogram down color
extern int HistoSize = 3; //this is for histogram up and down width

if you don't want to set color and size from indicator input tab.

just delete that 3 lines of codes above

and change bellow lines code from ;

SetIndexStyle(0,DRAW_HISTOGRAM,STYLE_SOLID,HistoSize,UpHistoColor);
SetIndexBuffer(0,buffer1);
SetIndexShift(0,HistoShift);

SetIndexStyle(1,DRAW_HISTOGRAM,STYLE_SOLID,HistoSize,LoHistoColor);
SetIndexBuffer(1,buffer2);
SetIndexShift(1,HistoShift);

to;

SetIndexStyle(0,DRAW_HISTOGRAM,STYLE_SOLID);
SetIndexBuffer(0,buffer1);
SetIndexShift(0,HistoShift);

SetIndexStyle(1,DRAW_HISTOGRAM,STYLE_SOLID);
SetIndexBuffer(1,buffer2);
SetIndexShift(1,HistoShift);

save and re-compile the file.

If you do like that, you can't change the color and size from indicator input tab, but you can change it from indicator color tab.

Hope it help,

Happy Trading and best regards.
  • #226
  • Nov 29, 2013 11:49am Nov 29, 2013 11:49am
Quoting Kiads
{quote} Hi My Friend Badway, since this indicator share in mq4 file type, you can freely modified by yourself.. You can change Histogram color and size with meta editor and recompile it find this code lines; #property indicator_color1 C'158,158,158'......
Kiads,
Thank you so much for your help and great work!
Thanks again for your response.
Best regards
  • #227
  • Dec 1, 2013 3:23pm Dec 1, 2013 3:23pm
HI Kiads,
First of all let me echo thanks for your great work on Renko.

Couple of questions:
(1) want to set the box size to 20 pips and want to trade geometrically, with a 50% shift or wick...can you tell me the shift % I should use in the inputs pls? (2) ditto for 50 pip box size...? I tried using your formula you gave on the first post you made but I cant get it work according to my calculations.

(3) The other thing that happens on my charts using ten pip boxes and the setting of 25%, the horizontal lines are not "sticky" . (They move slightly as the
chart progresses. This is a serious limitation for me as I need the horizontal lines to be fixed and not moving or movable. ??????

(4) If we dont trade geometrically, what does the chart look like and what are the advantages or disadvantages compared to seemingly all the geometrical
charts you have shown on the thread so far?

btw, I only trade the Daily Weekly and Monthly charts when not using Renko, which is why I need bigger box sizes. I would appreciate if you could also send me a template with these shift figures in, on the latest version of your Chartbuilder as I think I am probably using the older version and not your latest.

Many many thanks in advance!
PheonixK
  • #228
  • Dec 2, 2013 9:00am Dec 2, 2013 9:00am
Hi Kiads,

Need to clarify! Firstly I only trade EURJPY and I would like to use your tool to assist in trading Renko geometrically.
So, using 20 pip and 50 pip box sizes what shift settings do I use, pls?

The reason I can use larger box sizes is because I am a statistician and I use stats and calculus to assist me in trend direction and daily targets. (If it will help
you and any other members here I can post my data levels after 01.00 am every day). If I may say so, they are very accurate but I will need to explain how to trade them because they do appear "inaccurate" sometimes, but that is simply the nature of fractals. So when using larger box sizes you will find that some days you might miss targets quite alarmingly but over time and the number of trades it evens out to around 60-70% accuracy. the "inaccuracy" is actually what is known as a fractal "streak" (ref. B.Mandelbrot) and they are totally unpredictable as to when they occur, but statistical data can get quite close to predicting when they will happen. (!)

(cutting a long story short~ Using Renko properly will help me a lot in analysing and trading/tracking the fractal data.)

Thanks Kiads!
PheonixK
  • #229
  • Dec 2, 2013 9:20am Dec 2, 2013 9:20am
Quoting PheonixK
Hi Kiads, Need to clarify! Firstly I only trade EURJPY and I would like to use your tool to assist in trading Renko geometrically. So, using 20 pip and 50 pip box sizes what shift settings do I use, pls? The reason I can use larger box sizes is because I am a statistician and I use stats and calculus to assist me in trend direction and daily targets. (If it will help you and any other members here I can post my data levels after 01.00 am every day). If I may say so, they are very accurate but I will need to explain how to trade them because they...
It would be a great idea to explain your method. Of course if Kiads think that it's not the right place to do so, a separate thread will be a good start.
MT4/MT5 EAs/Indicators/Alerts coder
  • #230
  • Dec 2, 2013 7:19pm Dec 2, 2013 7:19pm
Hi FerruFX,

Dont want to detract in any way from the fact this is Kiads thread. If Kiads is agreeable am quite happy to post Daily levels for EURJPY then folks can just use them with Renko as necessary. If I start explaining things it will detract from why I am here in the first place which is to learn from others and as you say if I wanted to teach I would start my own thread but as I am a full time trader, I am disinclined to start any threads atm...hope you can appreciate my sentiments! x PheonixK
  • #231
  • Dec 2, 2013 7:22pm Dec 2, 2013 7:22pm
Hi FerruFX,

the explanations I meant, I should have used the words, "provide guidelines for implementation", so my apologies if I conveyed thw wrong impression!
  • #232
  • Dec 2, 2013 9:03pm Dec 2, 2013 9:03pm
Quoting PheonixK
Hi FerruFX, the explanations I meant, I should have used the words, "provide guidelines for implementation", so my apologies if I conveyed thw wrong impression!
No worry, all is fine !
MT4/MT5 EAs/Indicators/Alerts coder
  • #233
  • Edited 5:12am Dec 6, 2013 4:52am | Edited 5:12am
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...

Thx alrady 873 pips gained!!

but use fast band to keep wrong entrys!
  • #234
  • Dec 6, 2013 5:18am Dec 6, 2013 5:18am
Quoting mara1
{quote} Thx alrady 873 pips gained!! but use fast band to keep wrong entrys!

Can you post a chart and give us some details please?!
  • #235
  • Dec 6, 2013 6:17am Dec 6, 2013 6:17am
Quoting Flaviu1981
{quote} Can you post a chart and give us some details please?!
hello

plase check post 215 and use fast TMA line from Kiads

you will see wath Im talking about

reg

Pic 1 close position ,and last still running couse fsat THM line


Pic 2 and here no action just waiting couse nothing confirm anithing!!
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: BBBBBA.png Size: 149 KB
  • #236
  • Dec 6, 2013 6:22am Dec 6, 2013 6:22am
Quoting mara1
{quote} hello plase check post 215 and use fast TMA line from Kiads you will see wath Im talking about reg
Hope you read the post #217 before trading what you see on the chart posted in #215. What you see is the historical D1. In real time, your chart will never look so impressive.
MT4/MT5 EAs/Indicators/Alerts coder
  • #237
  • Dec 6, 2013 6:36am Dec 6, 2013 6:36am
Quoting FerruFx
{quote} Hope you read the post #217 before trading what you see on the chart posted in #215. What you see is the historical D1. In real time, your chart will never look so impressive.

Anyway for mee works perfect and I use on live acc to Renko is always renko
  • #238
  • Dec 6, 2013 6:38am Dec 6, 2013 6:38am
Quoting mara1
{quote} Anyway for mee works perfect and I use on live acc to Renko is always renko
Are you using D1 data for your Renko chart ?
MT4/MT5 EAs/Indicators/Alerts coder
  • #239
  • Dec 6, 2013 6:44am Dec 6, 2013 6:44am
Quoting FerruFx
{quote} Are you using D1 data for your Renko chart ?

Yes I doo!
  • #240
  • Dec 6, 2013 6:51am Dec 6, 2013 6:51am
Quoting mara1
{quote} Yes I doo!
Could you please show your live chart without refreshing the renko script.
MT4/MT5 EAs/Indicators/Alerts coder
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