Fxkred's Renko System

A good thread that seems to have gone quiet. I hope it really picks up in the New Year.
Thanks to FxRed for the great resources.

I have been developing some Renko Strategies that look promising, combining Bill Williams
and Tom DeMark ideas with Renko. I also have some really good trade mangers that seem to work well.

If the interest it there maybe we can get this rolling again.

Merry Christmas all.

HELLO Wab
I cant waith to see this system, pls breath life to this thread that it may live again.
THANKS

I would start by saying that I don't want to hijack Fxred's thread. I have gained lots of ideas here and perhaps I should start a separate thread to explore them.
However, if Fxred is still around he is the guy to go to with some of this.

Any and all thoughts appreciated.

looks very interesting, I will follow you progress

OK, let's start by putting a De Mark trend alert on a Median Renko chart.

Once you have the indicator on your Renko Chart use the settings shown in the attached picture.

If you don't know anything about the De Mark trend alert, you can read up on it or Mouteki (same thing practically) on FF.

Study it, particularly how it draws trend lines from the most recent fractal to the fractal before that. The indicator uses small
circles to identify the fractals.

You can use the fractal indicator in MT4 and will usually show them in the same place.

Spend some time watching the De Mark trend lines. I will get some charts together next.

If Fxred is around I hope he gives his blessing to this.

Hi Wab
believe me you are not hijacking any body thread, just only adding and encouraging. personaly i like seeing and hearing other traders share their testimonies. REMAIN BLESS

I look forward to seeing Wab's application of the trend line.....

After much thought, I have decided to start my own thread called Animal Farm.

My ideas are different and I need to organize things in my own way.

Again, I thank FxRed for all he has contribute here.

Hi guys,

Thanks to all for your contribution.
Is it possible to create an based on Renko or range bar charts? They told me generally EA's in offline charts are not supported by MT4. Is this true?
I want to make a fully automated EA. Could I?

Hi binop2, I've been trading EAs on Renko's Offline charts. They work successfully! One problem I sometimes encounter is when a broker doesn't give enough M1 past price history data. Other than that, it works beautifully - not going back to regular candles trading (manual or EA).

Which moving averages are that below of your chart in the BBMacd Area ? Thanks

Hello, It is a simple MACD with basic parameters, 12,26,9

Hello fxkred , happy to see you back it has been a long time remain blesss.

hi guys,

i loaded my renko ea into the M1 chart (with Demark's indicator attached on it) and subsequently loaded my offline renko chart.

i realized that the price tick in my offline renko chart does not synchronize with the one in the real time charts be it M1,M5,M15,M30,H1 or H4..

has anyone encountered the same problem before?

thanks.

This may be of use. Its an indicator not an EA. Its also an .ex4 not an .mq4. A bit fiddly but reliable.

First: The renko shift is adjustable. For normal renko bars set Inputs Variable BrickShiftPercentage = Value 100.

Brick shift 50 %

Brick shift 100 % - normal renko


Second: The FX pair, IX or Futures instrument has to be typed in. See Inputs Variable Pair1 - the default Value is EURUSD.
Note: If the FX pair has a suffix like EURUSDSB or EURUSD_uk it must be typed in with the suffix otherwise the M1 chart will not generate the relevant offline chart. If the instrument is a CFD Futures it must be typed in full. e.g. SoybnsJan15. Do not include timeframe M1, M5, M15 etc.

Third: While the indicator can be deleted via the Indicators List delete option it leaves behind information labels on the M1 chart that have to be deletes via Object List or highlight → right click → delete.

Ask-Bid-Spread indicator included for M1 chart.

Install in - C:\Users\YourUserName\AppData\Roaming\MetaQuotes\Terminal\9F51B4A5C91921F00E5E124F12B718CB\MT4\Indicators
See file original.txt to identify Broker associated with long alpha-numerical.

Indicator: Same idea as above but does not require FX, IX or Future instrument insertion. Also, deletes completely.

For full renko set Variable BoxShiftPercent1 = Value 100.

Hi to everybody,

I am using nowadays a fresh renko type: block size 4, and the step is 1. It is something like the price travel into a four pip channel. The bigger timefram is depends on the pair you are using. For example here a gold chart, which is 40 pip wide, (20 pip the spread) and it is the fast chart.
I have attached a theoretical trade, how should be done. It is experimental stage yet, as cannot decide which indies left.

OANDA's regular platform is a good substitute of Renko chart. The 10 or 15 sec chart gives a very good entry opportunity, if the main direction is reconciled by a bigger timeframe.

Hi FXKRed. I like your posts about trading.

I have a renko strategy and I'm interested in seeing what you think. Do you code?

Hello, sir. I've really enjoyed your threads. Thank you for sharing your knowledge. Do you still trade?