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  • #121
  • Mar 21, 2015 10:44am Mar 21, 2015 10:44am
Quoting EasyRyder
{quote} Would be interesting, through backtesting, to determine if Candle 3 bearish (for long trade) and Candle 3 bullish (for short trade) s a desirable entry condition..
Just looking at the last week(ish) on EURUSD, that's pretty much what I wanted to confirm as well...2 candles for trigger, or 3.

My visual backtesting, is pretty much exactly this, having a look at these things to see if they make sense.

By my count, and again, last week(ish), alone, it looks like wins out numbered losses 9-4 and would also seem that the profit range on wins, exceeds that of the losses, given the tap out on a single reversal.

Conceptually speaking, rules applied as per post 1, and based on this last week(ish) alone, it seems a reasonable strategy.
Attached Image (click to enlarge)
Click to Enlarge Name: renko.png Size: 41 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #122
  • Mar 21, 2015 10:54am Mar 21, 2015 10:54am
Quoting Magix
{quote} Just looking at the last week(ish) on EURUSD, that's pretty much what I wanted to confirm as well...2 candles for trigger, or 3. My visual backtesting, is pretty much exactly this, having a look at these things to see if they make sense. By my count, and again, last week(ish), alone, it looks like wins out numbered losses 9-4 and would also seem that the profit range on wins, exceeds that of the losses, given the tap out on a single reversal. Conceptually speaking, rules applied as per post 1, and based on this last week(ish) alone, it seems...
From your backtest, it seems that checking for Candle 3 is not necessary to filter out bad trades!

@Shreyash: Would you please clarify whether checking for Candle 3 (as I mentioned in Post 117) is part of your strategy?
Trading is the hardest way to make easy money...
  • #123
  • Mar 21, 2015 11:01am Mar 21, 2015 11:01am
Hi guys, interesting thread! A couple of points:
1)I can backtest median renko with 99% quality but I need to insert a couple of lines in the code. Can someone post the mql4 file please?
By the way backtest cannot give you the truth about a strategy but is an incredibly powerful tool to develop and test ideas quickly.
2)As this is intended to be a trend-following bot I would increase number of positions as long as the price moves with the trend. This will multiply the incomes if basket of orders are then managed with a take profit based on the percentage of the gain one wants to keep.
Best
Alfred
  • #124
  • Mar 21, 2015 11:05am Mar 21, 2015 11:05am
Quoting MathTrader7
{quote} From your backtest, it seems that checking for Candle 3 is not necessary to filter out bad trades! @Shreyash: Would you please clarify whether checking for Candle 3 (as I mentioned in Post 117) is part of your strategy?
Well...I dunno.



Look at where market ended for EURUSD, on the chart I previously posted.

IF market gaps up for open, the EA will read it as a confirmation candle and automatically take a long. (I've never really watched renko at market open, assuming it will backfill the space from previous close to current open).

If it does that, it would most likely result in a trade that would retrace and consequently turn the strategy against itself. Granted, this may result in a 20 pip loss, per chart, only once per week, a loss is still a loss.

Based on that, I would say that keeping the filter of candle 3 might not be a terrible idea.


I would hazard a guess that keeping rules as op have stated in as clear of code would actually make the most amount of sense, all ways around, including having a hard set stop loss. (Thinking in EA terminology, strictly).

If Close 3 bearish and Close 2, 1, bullish, buy...exit if Close 1 < Open 1.
If Close 3 bullish and Close 2, 1, bearish, sell...exit if Close 1 > Open 1.

Moving averages to be the filtering criteria...

Stoploss in excess of 20 pips to keep the shins protected from news spikes or broker lag.

Again, this is all based on only the Most Recent history and Only on EURUSD. An application of the same strategy and forward tested for a few weeks/months would help whittle down the pairs that don't like to play by the same rules.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #125
  • Mar 21, 2015 11:07am Mar 21, 2015 11:07am
Quoting failinforex
{quote} Hi, I am lost here. How to remove and attach the EA to the chart? TIA
In order to remove an EA from a chart, right click on the chart, a menu will show up, point the mouse to the Expert Advisor item in the menu, a sub-menu will appear, one of the items in the sub-menu lets you remove the EA from the chart.

In order to attach an EA to a chart, make sure that the chart is currently selected, then from the Navigator window find the EA, double click on the EA name, it will bring up the EA starting window (where you can change the input settings, for example). Click on the OK button, the EA will be attached to the chart.
Trading is the hardest way to make easy money...
  • #126
  • Mar 21, 2015 11:26am Mar 21, 2015 11:26am
Quoting Magix
{quote} Just looking at the last week(ish) on EURUSD, that's pretty much what I wanted to confirm as well...2 candles for trigger, or 3. My visual backtesting, is pretty much exactly this, having a look at these things to see if they make sense. By my count, and again, last week(ish), alone, it looks like wins out numbered losses 9-4 and would also seem that the profit range on wins, exceeds that of the losses, given the tap out on a single reversal. Conceptually speaking, rules applied as per post 1, and based on this last week(ish) alone, it seems...
Seems like the three candle strategy would not take your first and second winning trades -- the biggest winners of the lot. In each case, the third candle is not red, and thus the trade would not enter.
  • #127
  • Mar 21, 2015 11:26am Mar 21, 2015 11:26am
Quoting sminage
Back testing video. https://youtu.be/ECmapuIIzmQ
I really appreciate your effort to backtest the EA. The video helped me to see how the implemented trailing stop would work on median Renko charts in practice.
Trading is the hardest way to make easy money...
  • #128
  • Mar 21, 2015 11:28am Mar 21, 2015 11:28am
I have come to judge the potential of a strategy by counting the number of "Invisible's" logged into the thread. As I write this, there are 5 Invisible traders logged in.
  • #129
  • Mar 21, 2015 11:31am Mar 21, 2015 11:31am
Quoting MathTrader7
{quote} I really appreciate your effort to backtest the EA. The video helped me to see how the implemented trailing stop would work in practice.
This is last week screen short of trades.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: lastw.PNG Size: 63 KB
Click to Enlarge Name: in real market.png Size: 51 KB
  • #130
  • Mar 21, 2015 11:39am Mar 21, 2015 11:39am
Quoting sminage
{quote} This is last week screen short of trades. {image}
The potential is there.
  • #131
  • Mar 21, 2015 11:50am Mar 21, 2015 11:50am
Quoting ChicagoRob
{quote} The potential is there.
The timeline on these is a little fucked, as they are based on the actual movements of the price, not the actual clock...

We can't exactly nor easily go back and have a look at the chopzone from the day(s) previously...but check it.

Each tick on my chart is a trigger for trade that would result in absolute loss, and on these, would most likely be 20+ pips...best case on some is square minus spread and commish.

Given the ATR of a lot of pairs being in the absolute shitter, there will be a lot of days that you wake up and check your account to find out you've been beaten like a dog.
Attached Image (click to enlarge)
Click to Enlarge Name: chop.png Size: 15 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #132
  • Mar 21, 2015 11:55am Mar 21, 2015 11:55am
Hello EveryOne!

Sorry Was away due the weekend!

I am really surprised on the response I am receiving for my thread and the way people are thronging to it..!

Feels good to see everyone's enthusiasm here!

I have trained more than 3000 people from all over the world in my Seminars and Intensive Training workshops on Successful Forex Trading!

But this is the first time I am creating awareness about "Profitable Trading Strategies" on an online open forum like this!

I feel proud that "Instead of giving a Man a Fish, I taught many How to fish! "

I admit I have not invented or created something new but I have created awareness among the needful!

Really happy with the progress on the thread due the contribution of all our members here like MathTrader7 , Magix, Sminage etc!!!

Sorry, As I am on a vacation with my family and traveling I am not posting much,

But nevertheless I will be back soon with more Interesting Stuff because this was just the vanilla basic strategy!!!
  • #133
  • Mar 21, 2015 12:05pm Mar 21, 2015 12:05pm
Quoting sminage
{quote} This is last week screen short of trades. {image} {image}
What is your box size, please?
  • #134
  • Mar 21, 2015 12:11pm Mar 21, 2015 12:11pm
No problem. I tested this on friday a little bit and already made good profits. Nothing large, and obviously it was only 1 day, but I look forward to next week. I think this really has potential!
  • #135
  • Mar 21, 2015 12:15pm Mar 21, 2015 12:15pm
This has been my latest project.. I didn't even know this thread existed...

Haven't read all the posts yet but I'm doing forward testing atm and you can filter out some decent wins following daily trends.

Would be amazing if I could backtest. Whats the trick to BT offline charts?
  • #136
  • Edited 1:39pm Mar 21, 2015 12:17pm | Edited 1:39pm
Here is Version 1.7 of the EA that implements a time filtering to enter a trade. During the hours you specify in the input settings, the EA opens BUY/SELL positions if there is any opportunity. However, the EA will manage an open position regardless of time filtering input settings.
Attached File(s)
File Type: ex4 MathTrader7_RenkoEA.ex4   127 KB | 2,089 downloads
Trading is the hardest way to make easy money...
  • #137
  • Mar 21, 2015 12:18pm Mar 21, 2015 12:18pm
Quoting AcerPhoon
No problem. I tested this on friday a little bit and already made good profits. Nothing large, and obviously it was only 1 day, but I look forward to next week. I think this really has potential!

Given market cycles, this is probably the biggest point of awareness.

Standard trade weeks are choppy up until London Open on Thursday, through to NY close of market Friday.

Typically speaking, these will be the best days for success with this strategy, with exception of NFP week, as the entire week can play out choppy, especially on the NFP press...given that, the EA to broker price lag, will most likely completely drain the trader accounts!

USD pairs as mentioned above generally, but each pair will have it's own specific session and weekly cycle.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #138
  • Mar 21, 2015 12:25pm Mar 21, 2015 12:25pm
Quoting MathTrader7
{quote} I really appreciate your effort to backtest the EA. The video helped me to see how the implemented trailing stop would work on median Renko charts in practice.
please check this weather the entry condition is ok .
Attached Image (click to enlarge)
Click to Enlarge Name: notrade.PNG Size: 22 KB
  • #139
  • Mar 21, 2015 12:37pm Mar 21, 2015 12:37pm
Quoting sminage
{quote} please check this weather the entry condition is ok . {image}
Please see a discussion in this regard in previous posts (for example, Post 121, and 122).
Trading is the hardest way to make easy money...
  • #140
  • Mar 21, 2015 12:48pm Mar 21, 2015 12:48pm
Quoting sminage
{quote} please check this weather the entry condition is ok . {image}
That's odd that the EA didn't place an order on the big sell trade - must have taken a siesta. Would
have brought home some serious bacon.
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