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Lets Automate a Simple Renko Strategy!

  • #81
  • Mar 20, 2015 10:48am Mar 20, 2015 10:48am
Quoting howard
{quote} Hello Math Trader Thanks for the EA, is the size of the bricks not definable?
You specify the size of the bricks in the input settings of the Renko Chart Creator EA. You can find one such EA, for example, in the first post (Renko_Mod.mq4). My EA automatically detects the size of the brick Renko chart it is attached to, and manages the strategy functions.
Trading is the hardest way to make easy money...
  • #82
  • Mar 20, 2015 11:01am Mar 20, 2015 11:01am
Quoting MathTrader7
{quote} You specify the size of the bricks in the input settings of the Renko Chart Creator EA. You can find one such EA, for example, in the first post (Renko_Mod.mq4). My EA automatically detects the size of the brick Renko chart it is attached to, and manages the strategy functions.
Hey MathTrader7,

Are you testing the EA on normal Renko or Median Renko?

I think we should compare and find out which one is the best!

Whats your view??

Not to forget! Thanks for the amazing EA Man!
  • #83
  • Mar 20, 2015 11:02am Mar 20, 2015 11:02am
Can we use the same magic number for all pairs or does it look at pair name and magic number?
  • #84
  • Mar 20, 2015 11:06am Mar 20, 2015 11:06am
Quoting shreyash
{quote} Hey MathTrader7, Are you testing the EA on normal Renko or Median Renko? I think we should compare and find out which one is the best! Whats your view?? Not to forget! Thanks for the amazing EA Man!
I'm currently testing the EA on normal Renko charts. But I am going to test it also on median Renko charts to compare the results.

Quoting fxtrader08
Can we use the same magic number for all pairs or does it look at pair name and magic number?
At the moment, just give it a magic number which differs from the magic number of other EAs you are running on the same account. I will implement reset-recovery feature in the next version of the EA...
Trading is the hardest way to make easy money...
  • #85
  • Mar 20, 2015 11:12am Mar 20, 2015 11:12am
Quoting reinerh
i am curious as to how long have you been trading this strategy ? and how many pips have you been able to generate a month approx ? sure sounds quite logical and promising to me. especially since you traded this manual for a while and must have some result data. green pips to ya
Dear reinerh,

I wish I could share that with you but unfortunately I cannot due to some professional restrictions!

I have been using it almost since the last 3 years!

I am basically a Fund Manager and have been trading Successfully for the last 8 years!
  • #86
  • Mar 20, 2015 11:21am Mar 20, 2015 11:21am
Quoting MathTrader7
{quote} You specify the size of the bricks in the input settings of the Renko Chart Creator EA. You can find one such EA, for example, in the first post (Renko_Mod.mq4). My EA automatically detects the size of the brick Renko chart it is attached to, and manages the strategy functions.
I see, thanks a lot.

For some reason when I Attach the EA to the renko chart, as soon as the price moves by 1 tick it will be deleted from the chart by itself
Regards
  • #87
  • Mar 20, 2015 11:28am Mar 20, 2015 11:28am
Quoting howard
{quote} I see, thanks a lot. For some reason when I Attach the EA to the renko chart, as soon as the price moves by 1 tick it will be deleted from the chart by itself
The EA is deleted as soon as the price moves by 1 tick!? Or a position opened by the EA is deleted?
Trading is the hardest way to make easy money...
  • #88
  • Mar 20, 2015 11:28am Mar 20, 2015 11:28am
Quoting MathTrader7
{quote} I'm currently testing the EA on normal Renko charts. But I am going to test it also on median Renko charts to compare the results. {quote} At the moment, just give it a magic number which differs from the magic number of other EAs you are running on the same account. I will implement reset-recovery feature in the next version of the EA...
Cheers - all up and running on a demo. I'm using on this EA on the demo so won't interfere.

What pairs do you suggest to try it on or are we going for everything? metals? CFDs?
  • #89
  • Mar 20, 2015 11:32am Mar 20, 2015 11:32am
Quoting fxtrader08
{quote} What pairs do you suggest to try it on or are we going for everything? metals? CFDs?
I am testing the EA on four pairs, EURUSD, USDJPY, USDCAD and AUDUSD. It may perform well on other assets that most of the time trend hundreds of pips...
Trading is the hardest way to make easy money...
  • #90
  • Mar 20, 2015 11:35am Mar 20, 2015 11:35am
Quoting mathtrader7
{quote} i am testing the ea on four pairs, eurusd, usdjpy, usdcad and audusd. It may perform well on other assets that most of the time trend hundreds of pips...
euraud, gbpaud, audjpy.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #91
  • Mar 20, 2015 11:54am Mar 20, 2015 11:54am
Quoting MathTrader7
{quote} The EA is deleted as soon as the price moves by 1 tick!? Or a position opened by the EA is deleted?
The EA is deleted, the smiley face is there and then by 1 tick move the EA and smiley face go away

Maybe it is because I have attached it to fdax chart, is it possible?
Regards
  • #92
  • Mar 20, 2015 12:11pm Mar 20, 2015 12:11pm
Quoting howard
{quote} The EA is deleted, the smiley face is there and then by 1 tick move the EA and smiley face go away Maybe it is because I have attached it to fdax chart, is it possible?
yes it is working properly on EUR/AUD
Regards
  • #93
  • Mar 20, 2015 2:26pm Mar 20, 2015 2:26pm
Working good so far. Does Metatrader needs to be running 24/5 in order to catch all the trades?
  • #94
  • Mar 20, 2015 2:31pm Mar 20, 2015 2:31pm
Quoting AcerPhoon
Working good so far. Does Metatrader needs to be running 24/5 in order to catch all the trades?
Obviously.....however someone mentioned trading during market open only so as not to trade during range periods such as night time.

However, JPY, AUD and NZD pairs will all be active during the Asian session so it would need more though.
  • #95
  • Mar 20, 2015 2:59pm Mar 20, 2015 2:59pm
Hi shreyash and the others,

first of all thank you for introducing me to a promising looking Renko indicator.
what other settings - besides the ones on page 1 - do you use for the Renko chart? (Allow DLL etc. ?) The problem is: My chart won't update at all, but that would be exactly what you mean by "live chart" ?

Also: Where do you put the .mq4-file? I suppose it goes in the script-folder?


Cheers,

Philipp
  • #96
  • Mar 20, 2015 3:14pm Mar 20, 2015 3:14pm
Quoting Jeg
Hi shreyash I am also interested in Renko charts, they look great when they are trending but how do you manage when it goes sideways? Thanks and regards
I won't trade sideways pairs, leave that to the scalpers.
  • #97
  • Mar 20, 2015 3:52pm Mar 20, 2015 3:52pm
Quoting autobahn
Hi shreyash and the others, first of all thank you for introducing me to a promising looking Renko indicator. what other settings - besides the ones on page 1 - do you use for the Renko chart? (Allow DLL etc. ?) The problem is: My chart won't update at all, but that would be exactly what you mean by "live chart" ? Also: Where do you put the .mq4-file? I suppose it goes in the script-folder? Cheers, Philipp
Click on the top left of your Metatrader 4 program and click on File open your Data-folder -> MQL 4 -> Experts. And put your EA's there.
Drop it on the chart (for example: EUR/USD) and then you need to open your Chart offline.

For example, you hit "File -> Open Chart offline -> EURUSD,M2"
On THAT chart you apply the EA, which MathTrader7 created and you're set. Hope this helps a bit.
  • #98
  • Mar 20, 2015 4:08pm Mar 20, 2015 4:08pm
Thankyou AcerPhoon,


this did the trick.

All the best.
  • #99
  • Mar 20, 2015 7:10pm Mar 20, 2015 7:10pm
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. Edit: Version 1.5 can be downloaded form Post 48. {file}
Hi, Mathtrader,
I attched the EA to the offline chart, and it immediately opened a trade and the stop loss is set to the low of the last swing, but that is 100 pips. It seems to me a 100 pips stop loss is just too much. My question is how do you define the last high or low in your EA? and why that EA immediately opened a trade and not wait for the change of the color? Another question is what is the exit rule of your EA? Thank you very much for your help
  • #100
  • Mar 20, 2015 10:27pm Mar 20, 2015 10:27pm
settings of renko chart and ea for newbies that not familiar with renko.
Extract and copy to mt4 data folder . (From menu file then open data folder.)
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File Type: rar eas and temletes.rar   75 KB | 2,934 downloads
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