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Renko Bounce Trade

  • #41
  • Dec 22, 2014 11:31pm Dec 22, 2014 11:31pm
Quoting Greenstar
MathTrader7, or someone else: I am up now with the chart working properly. On the way, I saw the M3 chart, so chose to open it, too, and now have two offline charts going, M2 and M3. Can't seem to see what would be the difference in use of the two - why are we using M2 instead of M3? Both are updating now from the same M1 chart. Edit: one thing different in addition to the look of the blocks: there seem to be four times as many blocks on the M3 as on the M2



Check your parameter settings in the Renko EA.

You will find that you can set different block sizes.

So you can have different charts set up.

To start though I'd suggest using just 1 renko chart until you get very familiar.

Note that you must have a minimum of 2 charts though usually an M1 chart for your Renko EA and an offline M2 chart.

Block sizes (if you are unsure of the settings) can be quickly checked using the cross hair tool in MT4.


Hope that helps you.

Masterrmind........
Master your Mind then Master your Trades
  • #42
  • Dec 23, 2014 1:22am Dec 23, 2014 1:22am
Took 17 pips out of market charts later on. Today's target reached.

regards

jeet
  • #43
  • Dec 23, 2014 3:23am Dec 23, 2014 3:23am
Thank you so much, Sir @MathTrader7 !

I have two Questions, pls:

1. Can i use this for higher TF, e.g. 4H or 1D ? If yes, what is the offline Chart-Combination for this ? 1 D online and 1D offline?

2. What is the Brick-Size for 4H and 1D (if possible to use...)

Thx & Merry Christmas to all !
  • #44
  • Dec 23, 2014 5:09am Dec 23, 2014 5:09am
Quoting Draffi
1. Can i use this for higher TF, e.g. 4H or 1D ? If yes, what is the offline Chart-Combination for this ? 1 D online and 1D offline? 2. What is the Brick-Size for 4H and 1D (if possible to use...)
A Renko chart does not depend on time. So, in theory it does not matter to which TF you are attaching the Renko Chart EA. However, M1 charts are preferred over higher time frames for better accuracy in the creation of a Renko Chart.
Trading is the hardest way to make easy money...
  • #45
  • Dec 23, 2014 5:16am Dec 23, 2014 5:16am
Quoting Greenstar
MathTrader7, or someone else: I am up now with the chart working properly. On the way, I saw the M3 chart, so chose to open it, too, and now have two offline charts going, M2 and M3. Can't seem to see what would be the difference in use of the two - why are we using M2 instead of M3? Both are updating now from the same M1 chart. Edit: one thing different in addition to the look of the blocks: there seem to be four times as many blocks on the M3 as on the M2
As I mentioned in the first post, the input RenkoBoxSize2 must be set to 10 (pips). The Renko Chart EA creates two Renko charts with: 5-pip brick size (M3 chart) and 10-pip brick size (M2 chart). Since the M3 chart has smaller size of bricks, you will see more bricks on that chart; we do not use the M3 chart in this strategy. We use only the M2 chart which is made of 10-pip bricks.
Trading is the hardest way to make easy money...
  • #46
  • Dec 23, 2014 5:28am Dec 23, 2014 5:28am
Hi All, Would anyone know why I would not be able to add EA to Chart... I use Alpari MT4 and I can not drag / add EA to chart.
MT4 options All DLL is enabled. however the EAs are still greyed out.
Attached Images
  • #47
  • Dec 23, 2014 5:34am Dec 23, 2014 5:34am
Quoting atraderfx
Hi All, Would anyone know why I would not be able to add EA to Chart... I use Alpari MT4 and I can not drag / add EA to chart. MT4 options All DLL is enabled. however the EAs are still greyed out. {image} {image}
Enable <Allow automated trading> option.
Trading is the hardest way to make easy money...
  • #48
  • Dec 23, 2014 6:40am Dec 23, 2014 6:40am
Thanks that worked!.
  • #49
  • Dec 23, 2014 7:02am Dec 23, 2014 7:02am
Started testing..
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  • #50
  • Dec 23, 2014 7:05am Dec 23, 2014 7:05am
after i read your system trading.. this system is very simple.. and very low risk.. because using stop loss risk < reward
  • #51
  • Dec 23, 2014 7:40am Dec 23, 2014 7:40am
Quoting MathTrader7
{quote} Enable <Allow automated trading> option.
Hi Mathtrader, Thanks for your earlier reply, I still have a strange problem, perhaps you can help... I can still not add some EX4 files to charts... As an example, I copied the Mathtrader7_ATRBands.EX4 to the Indicators directory, and it does not appear in my indicator list. I deleted the MQLCache.dat and do a restart - because sometime I find that indicators do not always load... I have tried this and it still does not appear in my indicator list.

If I copy the Mathtrader7_ATRBands to my Experts folder, it appears in the list... however when I try to copy (or double click) into the chart nothing happens...

So apart from sounding like a complete novice MT4 user, I am bit lost by this behaviour... I have found also that from TPLs that I have downloaded with EX4 indicators already setup, that he Indis work when I copy the EX4 files into my Indicators folder. however they do not appear in the list of Indicators, if I remove the EX4 indicators from the folder or move over into the experts folder the indi stop working... so I know that the Charts are picking up the EX4 files when they are placed in the Indicators folder.. but they are not displaying within the indicators list.
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  • #52
  • Edited 10:25am Dec 23, 2014 7:58am | Edited 10:25am
Quoting atraderfx
{quote} Hi Mathtrader, Thanks for your earlier reply, I still have a strange problem, perhaps you can help... I can still not add some EX4 files to charts... As an example, I copied the Mathtrader7_ATRBands.EX4 to the Indicators directory, and it does not appear in my indicator list. I deleted the MQLCache.dat and do a restart - because sometime I find that indicators do not always load... I have tried this and it still does not appear in my indicator list. If I copy the Mathtrader7_ATRBands to my Experts folder, it appears in the list... however...
1. Check if your MT4 platform is build 600 or higher. To do so, open <Help> menu, choose <About> and observe the build version (latest version is 765).
2. If the build version is 600+, open <File> menu, choose <Open Data Folder>, from the opened explorer window go to the folder <MQL4\Indicators> and copy the indicator into.
3. Restart the MT4 platform.
4. Now you would be able to see the MathTrader7_ATRBands indicator in the MT4 platforms's <Navigator> window.
Trading is the hardest way to make easy money...
  • #53
  • Dec 23, 2014 8:17am Dec 23, 2014 8:17am
EA +7
GA +10
Charts of today's trades. The Gray lines are Daily pivot points on charts.
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  • #54
  • Dec 23, 2014 11:07am Dec 23, 2014 11:07am
this system awesome..thanks..i think there is a lot potential here
FXerha
  • #55
  • Dec 23, 2014 8:48pm Dec 23, 2014 8:48pm
Hi mathtrader7..last night i have made visual BT using 10&20 bricks size at same time..if i saw 20bricks closed below channel, then i monitor it until bullish candle appear and trade on 10 bricks tf..
FXerha
  • #56
  • Dec 24, 2014 3:44am Dec 24, 2014 3:44am
Quoting MathTrader7
{quote} 1. Check if your MT4 platform is build 600 or higher. To do so, open <Help> menu, choose <About> and observe the build version (latest version is 765). 2. If the build version is 600+, open <File> menu, choose <Open Data Folder>, from the opened explorer window go to the folder <MQL4\Indicators> and copy the indicator into. 3. Restart the MT4 platform. 4. Now you would be able to see the MathTrader7_ATRBands indicator in the MT4 platforms's <Navigator> window.
Thanks again MathTrader7 - I cleared out my Indicators folder, I had more 1500 so it seems that I was just running out of cache.
  • #57
  • Jan 3, 2015 5:27am Jan 3, 2015 5:27am
How to fix the lot size in this EA?
  • #58
  • Jan 5, 2015 5:59am Jan 5, 2015 5:59am
This EA did not take any trade today..Is is the same with other traders also?
  • #59
  • Jan 5, 2015 7:05am Jan 5, 2015 7:05am
Quoting anuj20jain
This EA did not take any trade today..Is is the same with other traders also?
The Renko Chart EA is not a trader! It just creates and updates Renko Charts for being available from offline charts menu....
Trading is the hardest way to make easy money...
  • #60
  • Jan 10, 2015 6:25am Jan 10, 2015 6:25am
Hi
Can't see renko cadles, my chart looks like in attached picture, how can I fix it ? Thanks
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