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Lets Automate a Simple Renko Strategy!

  • #41
  • Mar 20, 2015 3:19am Mar 20, 2015 3:19am
Quoting sminage
{quote} The m1 chart is generated from the offline renko chart for back testing using a script .
Now I got it! Thanks for backtesting the EA. The strategy is for sure promising.
Trading is the hardest way to make easy money...
  • #42
  • Mar 20, 2015 3:31am Mar 20, 2015 3:31am
Quoting sminage
{quote} back test is done using a script named oflinetesthelper but the result may vary because in real market there is requots . sorry for my poor language {image}
What size of brick are you using?
Why do sells show up on this chart, but not in the BT report?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #43
  • Mar 20, 2015 3:33am Mar 20, 2015 3:33am
I tried trading with Renko a while back. I found them to be great when the market was trending and behaving perfectly but terrible the 90% rest of the time.

I concluded that when conditions were right it is just as obvious on a simple candlestick chart so the renko bars offered no real advantage. The key (for me) was trying to tell when to use the renko system and when not. It all ended in over-complication and leaving me with a system that was impossible.

Not saying it can't be done, just telling you my experiences. I hope you figure out what I could not.

Also, when you are back testing, with renko, you have to account for news spikes, which in hindsight look like great trades of massive profit but in reality are not achievable.
  • #44
  • Mar 20, 2015 3:40am Mar 20, 2015 3:40am
Quoting Magix
{quote} What size of brick are you using? Why do sells show up on this chart, but not in the BT report?
For testing I use 5 pip brick the picture is renko hunter ea`s it takes buy and sell
Attached File(s)
File Type: rar renko hunter.rar   46 KB | 2,578 downloads
  • #45
  • Edited 6:21am Mar 20, 2015 3:49am | Edited 6:21am
Here is Version 1.1 of the EA that sets stop loss below the low/over the high of the last swing. The current spread is also added to it.

Edit: Version 1.5 can be downloaded form Post 48.
Attached File(s)
File Type: ex4 MathTrader7_RenkoEA.ex4   123 KB | 3,117 downloads
Trading is the hardest way to make easy money...
  • #46
  • Mar 20, 2015 3:55am Mar 20, 2015 3:55am
Quoting sminage
{quote} For testing I use 5 pip brick the picture is renko hunter ea`s it takes buy and sell {file}
What brick size did you use to backtest my EA?
Trading is the hardest way to make easy money...
  • #47
  • Mar 20, 2015 4:10am Mar 20, 2015 4:10am
Quoting sminage
{quote} For testing I use 5 pip brick the picture is renko hunter ea`s it takes buy and sell {file}
Gotcha.

Thanks
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #48
  • Edited 6:20am Mar 20, 2015 4:21am | Edited 6:20am
Here is Version 1.5 of the EA that implements a Trailing Stop of three block size.

@sminage: Could you please perform a visual backtest of this version to see if the trailing stop works fine?

Edit: Version 1.6 can be downloaded form Post 50.
Attached File(s)
File Type: ex4 MathTrader7_RenkoEA.ex4   124 KB | 1,919 downloads
Trading is the hardest way to make easy money...
  • #49
  • Mar 20, 2015 4:22am Mar 20, 2015 4:22am
Quoting MathTrader7
{quote} Sure! I fix this in the next version. I also think that a Trailing Stop is a good idea to be implemented in the next version. My idea is to have three blocks size as the distance to trail the stop loss. what do you think about it?
I think Trailing stop must be added as an extern parameter so that we can find the best possible settings.

But, I generally use 2 times the brick size as my trailing stop. I know it might stop u out a few times but a breakeven trade is always better than converting a profitable trade into a loosing one just in case the market moves against you!
  • #50
  • Mar 20, 2015 4:29am Mar 20, 2015 4:29am
Here is Version 1.6 of the EA that implements a Trailing Stop of the N-brick size. You can enable/disable the trailing stop and specify the number of bricks for the trailing stop in the input settings.
Attached File(s)
File Type: ex4 MathTrader7_RenkoEA.ex4   125 KB | 5,826 downloads
Trading is the hardest way to make easy money...
  • #51
  • Mar 20, 2015 4:35am Mar 20, 2015 4:35am
Quoting MathTrader7
Here is Version 1.1 of the EA that sets stop loss below the low/over the high of the last swing. The current spread is also added to it. {file}
50 pip brick
Attached File(s)
File Type: rar math1.1brick50.rar   26 KB | 2,733 downloads
  • #52
  • Mar 20, 2015 4:39am Mar 20, 2015 4:39am
Quoting MathTrader7
Here is Version 1.5 of the EA that implements a Trailing Stop of three block size. @sminage: Could you please perform a visual backtest of this version to see if the trailing stop works fine? {file}
Good to see your soaring spirits on the thread!

Just to add to the performance of the strategy I have a few more ideas:

+ A time filter can be added to keep u away from the chop.

The markets get active when London, New York &Tokyo open,
Generally bocs markets start moving when new money is added to the market.
This means that the first 2 hours after market open are the best trading hours !!

So we can add an extern parmeter for times to trade.

P.S. Hint: Some one on the thread asked me how to avoid the chop.

Usually my trading day starts from Frankfurt / London open!

This is mainly because I trade manually, I dont want to be spending the whole day in front of my screen!

Fast In Fast Out, Quick Pips -- Less Risk you are exposed to!

More to come on this in the coming days!

But, this Surely looks like a strong head start with members like you ppl on the thread!!!


"Trading is the beginning of the Journey not an End,
So we need to keep Innovating, Learning and Evolving as long as you are a part of this Journey!!!"
  • #53
  • Mar 20, 2015 4:50am Mar 20, 2015 4:50am
Quoting sminage
{quote} 50 pip brick {file}
Hey sminage!

Thank you for your wonderful contribution for backtesting EA on offline charts!

  • #54
  • Mar 20, 2015 4:54am Mar 20, 2015 4:54am
Quoting MathTrader7
Here is Version 1.6 of the EA that implements a Trailing Stop of the N-brick size. You can enable/disable the trailing stop and specify the number of bricks for the trailing stop in the input settings. {file}
MathTrader7 you're one heck of a Quick and Active Guy! Dude!
I really appreciate your work!
  • #55
  • Mar 20, 2015 4:54am Mar 20, 2015 4:54am
Quoting MathTrader7
Here is Version 1.6 of the EA that implements a Trailing Stop of the N-brick size. You can enable/disable the trailing stop and specify the number of bricks for the trailing stop in the input settings. {file}
It work different 1.1 and 1.6 , same result I got ,trailing work that can see in back test . I use median renko I try using normal renko and back.
Attached File(s)
File Type: rar 1.1 and 1.6.rar   28 KB | 2,092 downloads
  • #56
  • Mar 20, 2015 4:58am Mar 20, 2015 4:58am
Quoting shreyash
{quote} Good to see your soaring spirits on the thread! Just to add to the performance of the strategy I have a few more ideas: + A time filter can be added to keep u away from the chop. The markets get active when London, New York &Tokyo open, Generally bocs markets start moving when new money is added to the market. This means that the first 2 hours after market open are the best trading hours !! So we can add an extern parmeter for times to trade. P.S. Hint: Some one on the thread asked me how to avoid the chop. Usually my trading day...
I think not sure take it as a suggestion using rsi for buy between 55to 70 and for sell 45 to 30 ,
Attached Image (click to enlarge)
Click to Enlarge Name: renkomt.PNG Size: 89 KB
  • #57
  • Mar 20, 2015 5:12am Mar 20, 2015 5:12am
First 2 trades taken by the EA on EURUSD and GBPJPY and already looks very promising!

Attached Image (click to enlarge)
Click to Enlarge Name: FXCM MetaTrader 4.png Size: 116 KB
  • #58
  • Mar 20, 2015 5:14am Mar 20, 2015 5:14am
Quoting sminage
{quote} I think not sure take it as a suggestion using rsi for buy between 55to 70 and for sell 45 to 30 , {image}
@sminage The whole idea is mostly not to use any indicators!

Also, you were back testing the EA on median renko all this while? or the normal renko??
  • #59
  • Mar 20, 2015 5:18am Mar 20, 2015 5:18am
Quoting sminage
{quote} It work different 1.1 and 1.6 , same result I got ,trailing work that can see in back test . I use median renko I try using normal renko and back. {file}
Hey sminage!

Can you pls post the median renko EA or indicator that you use here!
  • #60
  • Mar 20, 2015 5:18am Mar 20, 2015 5:18am
very good!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 12 KB
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