{quote} Is there some way to change this? Thank you
- #44
- Apr 12, 2014 2:19am Apr 12, 2014 2:19am
hai to all,
ABOUT EA FOR THIS SYSTEM,
i am really happy to see the ea for this system by our friend irfan.
. but there is a major problem in it. because when that ea created by an ea creator it will just follow the commands like
ABOUT EA FOR THIS SYSTEM,
i am really happy to see the ea for this system by our friend irfan.
. but there is a major problem in it. because when that ea created by an ea creator it will just follow the commands like- whether the price is above or below 21 or 8
- whether the macd is above or below 0.
- whether the rsi is above or below 45,55.
if these conditions met it will trigger the long or short order. but there are other key points to take in mind.
OTHER KEY POINTS:-
we have to check the trade by following points to reject the trade.
- whether we are getting a buy signal at a resistance, or a sell signal at support.
- how is the pivot points and pivot s/r reacted to the previous price action.
so only this ea give the miss entry some time. because of your eagerness in this system guys i am working on a custom indicator soon it will be posted.
and for all you guys one thing to say...... I AM BACK.....
"TRADING AGAINST THE TREND IS LIKE STANDING AGAINST KATRINA TWISTER "
- #45
- Apr 12, 2014 2:23am Apr 12, 2014 2:23am
ANOTHER IMPORTANT UPDATE:-
for this trading method we will use a renko script which was created by one of our friend traderduke. so all credits will go for him.
why we are using traderduke script??
. because it is back- test -able. renko script. so if you want to see the performance of this method you can do it.
how to backtest this script will be on next post.
for this trading method we will use a renko script which was created by one of our friend traderduke. so all credits will go for him.
why we are using traderduke script??
. because it is back- test -able. renko script. so if you want to see the performance of this method you can do it.how to backtest this script will be on next post.
"TRADING AGAINST THE TREND IS LIKE STANDING AGAINST KATRINA TWISTER "
- #46
- Edited 3:03am Apr 12, 2014 2:24am | Edited 3:03am
BACK TESTING.
first download the the script from above post and put in your mql4---experts folder and mql4-----scripts folder.
first download the the script from above post and put in your mql4---experts folder and mql4-----scripts folder.
- step-1. go to your meta trader folder and open history folder
- step-2. create a new folder as renko
- step-3.now in the history folder search for the folder which named as your broker with demo or real. e.g my demo broker is mig bank. my history folder will look like this \history\MIGBank-Demo
- step-4.now copy the following ticks.raw,symbols.raw,symgroups.raw,symbols.sel
- step-5. now paste the copied files in renko folder which we created
- step-6. now please redo the step 3
- step-7. now copy all pairs 1 min hst file only, eg. for gbp/jpy 1 min hst file look like this GBP/JPY1.hst.
- step 8. redo the step 5
- step-9. open your mt4. go to file-----login. in the server tab type as renko and click login. now you will find that left bottom corner as noconnection.
- step -10. close your mt4 and reopen it. but this time dont go to file----login.
- step 11. if you done all this correctly. you will find that only 1 min charts will display and all other charts will display as loading.
- step 12. now open your pair 1 min chart which you want to backtest.
- step 13. load the renko script on it. choose the brick size, and choose the time frame as 5 and choose shift percentage as 100, and choose 5 digit as true or false according to your broker. and choose strange symbol name as true if your broker uses extra name for pair like GBP/JPY m. etc. and leave other settings to default.
- step-14. now open your strategy tester, choose the expert as our renko ea. and choose the time frame as 5 and choose the visual mode and de- select the use date. and choose the pair which we load the script.
- step-15. press start.
- step-16.now you will see the visual renko chart like in live trading. you can load all the indicator which you need. and start to explore.
technical tips
- when you complete step 13. you can check by going to file------open offline and you will see the name of the offline 5 m chart. please select the chart and open . if the chart opened and you saw the renko. then all is fine you can continue to step 14
- or other wise please go to your meta trader folder goto history-----renko and delete the created 5 m chart. and go to step 10.
trading tips
- while back testing please follow the clear rules. and see how many pips you are getting. you can increase the speed to 28 to 29 in the strategy tester.
voila,good luck,gracious.
and please dont forget to share your experiences.
"TRADING AGAINST THE TREND IS LIKE STANDING AGAINST KATRINA TWISTER "
BACK TESTING. first download the the script from above post and put in your mql4---experts folder and mql4-----scripts folder.
Thank you very much! Let me say that frankly is the first time I see renko charts on my computer
- and I really like the idea.The RSI 45-55 combined with the Emas nicely avoids the chop. Looks like a very reliable system, and will be glad to explore it further.
Have a nice day,
Dragos
- #48
- Apr 13, 2014 10:00am Apr 13, 2014 10:00am
hai to all,
as i told the first phase indicator is ready, simply copy the ex4 file to your indicator folder, restart your mt4 and drop this indi on your renko chart. this indicator will be used with standard charts also. but above 15 min charts. 
ENTRY RULES :-
as i told the first phase indicator is ready, simply copy the ex4 file to your indicator folder, restart your mt4 and drop this indi on your renko chart. this indicator will be used with standard charts also. but above 15 min charts.
ENTRY RULES :-
- when you see a green arrow get ready for long trade.
- if green thumps up symbol appears after the green arrow go long see pic (1,2)
- when you see a red arrow get ready for short trade.
- if red thumps down symbol appear after red arrow go short see pic(1,2)
RESTRICTIONS:-
- if a green appears and a red next appears or if a red arrow appears and and a green arrow appears. dont trade see pic (3,4)
- wait for the thumps symbol to confirm. unless thump symbol appear you dont trade.
- always see s/r lines to remove the false signals.
- this indi has its own potential, still it is in beta phase. so try get 15 to 20 pips profit.
as i am noob in coding please wait for next version for stable performance. it might take some time. because this simple indi took my six hours to be completed.
until please share your ideas for this system.
"TRADING AGAINST THE TREND IS LIKE STANDING AGAINST KATRINA TWISTER "
- #49
- Apr 13, 2014 11:20am Apr 13, 2014 11:20am
hai to all, as i told the first phase indicator is ready, ..... {file}
thank you for this really interesting indicator.
I would love to hear your thoughts about ... exits/sl/tp, etc.
Regards
Panos
- #50
- Apr 13, 2014 1:17pm Apr 13, 2014 1:17pm
- | Joined Mar 2014 | Status: AAARRRRRRGGGGGHHHH..... | 77 Posts
but there are other key points to take in mind......
Anyway, I've created a TE for the EA I've "made"... I'm using live cent account so you can see what will happen to your account if you use the ea.. hope you'll like it....
BACK TESTING. first download the the script from above post and put in your mql4---experts folder and mql4-----scripts folder.
I did all the steps you laid out (created the renko folder, copied the 1 minute files and the other ones - like the "ticks.raw" etc.) entered the settings in the renko live chart ea and got the "EURUSD-P,M5" file offline (my broker has the "Pro" termination currencies), the chart opened and saw the renko on this chart.
Though, when trying to load the MACD_Value_RSI_EA in the Expert advisor section, I could not put it on the renko chart..there is no express option to put it on the "EURUSD-P,M5" chart and if I press "Open chart" the buttons does nothing.. So when pressing "Start" it tries to apply the EA to the normal file (EURUSD-Pro,M5) and the result is "Waiting for update" ..and nothing happens...
Could you please let me know what I do wrong?
Thank you,
Dragos
- #57
- Apr 16, 2014 3:51am Apr 16, 2014 3:51am
{quote} Thanks. But I have no issue with the EA (I picked it from the dropdown list). My issue is with the chart on which the backtest is running: I can't run the backtest on the RENKO chart, or at least I don't know how. The "Open chart" button does nothing, so I don't know how to tell to the simulator to run on the renko chart..
you have understand wrong. you can not test the ea on this, you can test it by only manual, select the renko script at strategy tester ea tab and select the time period as 5 m and make sure you select the visual check box. and then press start. this is the way only for creating renko charts at weekends like in week days. you can test manually how the system works. you can not open new ea on the visual tab.
and for all you guys i am working very busy in a particular indicator. which you can use it see the reversal before it happen and validating the buy sell signals, and exits and continuation of the current trend or new trend formed.
so wait for it,
thanks.
"TRADING AGAINST THE TREND IS LIKE STANDING AGAINST KATRINA TWISTER "