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Lets Automate a Simple Renko Strategy!

  • #241
  • Mar 23, 2015 10:38pm Mar 23, 2015 10:38pm
Quoting mozhixing
{quote} I applied this new version but found the Renko Chart won't update anymore. So I replaced it with the old one and it worked again.
I developed and tested ( use ) it on MT4 765. Sorry to read it does not work for you.
  • #242
  • Edited 10:59pm Mar 23, 2015 10:47pm | Edited 10:59pm
I have a question to the entry rules.

Are they:

Price > EMA 21 > EMA 50 for long and Price < EMA 21 < EMA 50 for short

or just:

Price > EMA 21 & EMA 50 for long and Price < EMA 21 & EMA 50 for short ?

When you look at the picture there would be one Brick difference.

GL to all !
Attached Image (click to enlarge)
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  • #243
  • Mar 23, 2015 10:53pm Mar 23, 2015 10:53pm
Haven't downloaded or tested yet but wanna say thanks to all contributors this looks like a good idea and I will try to help test soon.
  • #244
  • Mar 23, 2015 10:56pm Mar 23, 2015 10:56pm
Quoting IAmRetep
Ok, I'm out of the office until Monday, more then. On the fly, "((Close [3]> Open [3]) && (Close [2]> Open [2]) && (Close [1]> Open [1]))" is necessary because bar number 2 can have another color and so your suggestion is not true, right? I think the recognition of a trend is simple. It starts with 3 same colored bars and ends when a bar with a different color occurs. Is there anybody out there who can help me, setting a tester within an offline chart?
Back test report of renko hunter.
Attached File(s)
File Type: rar renkohunter1.rar   57 KB | 1,239 downloads
  • #245
  • Mar 23, 2015 11:03pm Mar 23, 2015 11:03pm
[quote=89578251;8159130]{quote} What I've got are almost losing trades, which are big lost. Only few are winning trades.
Try with different box size and reduce the loss .
http://www.fxblue.com/users/sminage
  • #246
  • Mar 23, 2015 11:26pm Mar 23, 2015 11:26pm
Quoting sminage
{quote} Back test report of renko hunter. {file}
Very good results, IMO
  • #247
  • Mar 24, 2015 12:01am Mar 24, 2015 12:01am
Quoting sminage
{quote} Back test report of renko hunter. {file}
What are the differences in settings, since the second backtest is far more profitable?
  • #248
  • Mar 24, 2015 12:06am Mar 24, 2015 12:06am
Quoting ChicagoRob
{quote} What are the differences in settings, since the second backtest is far more profitable?

one report is mar 2015 and the other is from 2014-1-30
  • #249
  • Mar 24, 2015 12:26am Mar 24, 2015 12:26am
Quoting krumpy
My version has a few other features that could be useful in your next update. Gap detection between the EMA's to further filter out sideways action. Check spreads are less then X before placing the trade.. (I got smashed by a news release as I left EA running.. so added this) Count minutes between the last two closed bars. (I use this for an extra entry to try catch volatile conditions. ie If 2x last bars are same color and formed in less then 2 minutes place trade.) int Gap = MathAbs(NormalizeDouble(EMA1-EMA2,Digits)/Point); int Spread = MathAbs(NormalizeDouble(Bid-Ask,Digits)/Point);...

Try this strategy to avoid sideways action . http://www.forexfactory.com/showthread.php?t=532290
  • #250
  • Mar 24, 2015 1:26am Mar 24, 2015 1:26am
Mathtrader7, could you please implement a user-defined 'take profit' in pips, please?

Also, I believe that being able to change the default number of consecutive bricks from 2 to any other number would allow for more versatility.

Thank you so much,
R.
  • #251
  • Mar 24, 2015 3:34am Mar 24, 2015 3:34am
Quoting MathTrader7
Here is Version 1.95 of the EA that I fixed the bug in the reset-recovery feature. So, you should be able to modify the input parameters without observing the EA opens a new position if there is one running... {file}
Hey MathTrader7!

I really appreciate your efforts on the thread!
Without you all this improvement on the thread would not be possible..

Thank you!

Happy Pipping!
  • #252
  • Mar 24, 2015 3:36am Mar 24, 2015 3:36am
Thank you shreyash for sharing your idea and both MathTrader7 & Magix for all the work you are putting in to produce what we all hope will prove to be a profitable EA
  • #253
  • Mar 24, 2015 3:43am Mar 24, 2015 3:43am
Quoting sminage
{quote} one report is mar 2015 and the other is from 2014-1-30
I understand, but test #1 returned 9% in 15 months, while test #2 returned 100% in three weeks.
That's a huge difference in performance.
  • #254
  • Mar 24, 2015 3:57am Mar 24, 2015 3:57am
Quoting ChicagoRob
{quote} I understand, but test #1 returned 9% in 15 months, while test #2 returned 100% in three weeks. That's a huge difference in performance.
That depends the equity and lotsize .
  • #255
  • Mar 24, 2015 4:03am Mar 24, 2015 4:03am
Quoting MathTrader7
Here is Version 1.95 of the EA that I fixed the bug in the reset-recovery feature. So, you should be able to modify the input parameters without observing the EA opens a new position if there is one running... {file}
Hey MathTrader,

-The bug of placing orders again after restart still exists in v1.95.

-It is taking trades on the completion of 3 brick even if check 3rd candle parameter is false.

By default according to our strategy it shud take trades on the close of 2nd brick bcos in my experience i have noticed that waiting for 3rd brick to close is not an ideal entry...

As someone on the thread mentioned here -

Price > EMA 21 & EMA 50 for long and Price < EMA 21 & EMA 50 for short.

- One more thing that i noticed is that once you restart the platform and there were open trades; the EA abandons the previously placed trades.
for ex : if opposite brick is formed it does not manually close the trade.

- Additionally, an extern parameter called NBTCBE (Number of bricks to close before entry) can be added.
where "1" means entry on the close of 1 new color brick.
"2" means entry on the close of 2 new color bricks.

Thanks!
  • #256
  • Mar 24, 2015 4:12am Mar 24, 2015 4:12am
Quoting sminage
{quote} Back test report of renko hunter. {file}
Hello sminage,
The latest version performs a little bit better. But I am not really sure, is it a valid test. Using a demo account there is a test run with (EURUSD, EURGBP, EURJPY, EURUSD, GBPUSD, USDCAD, USDJPY, AUSUSD). Later this week, we can have a more comprehensive discussion.
  • #257
  • Edited 7:36am Mar 24, 2015 4:14am | Edited 7:36am
Quoting ChicagoRob
{quote} I understand, but test #1 returned 9% in 15 months, while test #2 returned 100% in three weeks. That's a huge difference in performance.
Hello all. I have been testing this EA for two days and I have to say it is amazing. Brick size makes the greatest difference and profitability depends on the current volatility of the pair traded. I would suggest using smaller brick size, i.e. 6 - more flexibility, more trades. Also, because of the nature of renko, drawdown is not an issue like with so many EAs. Just ran it overnight on USD/CAD 100$ account,.01 lots,14$ profit in the morning. Now lets see how she does in the longer run.
Best, Josh

Edit- wrong account. It did make 14$, but the lots were .1 and balance 1k+. My bad.
  • #258
  • Mar 24, 2015 4:20am Mar 24, 2015 4:20am
Good morning,


what about using the MA slope to avoid ranging markets. I.e. only open longs, if the value of the MA(s) is x pips higher than y bricks before and vice versa for shorts?
  • #259
  • Mar 24, 2015 5:22am Mar 24, 2015 5:22am
For V1.95, the same trade opens again, 2 times, if MT4 is closed and restarted.
  • #260
  • Mar 24, 2015 5:33am Mar 24, 2015 5:33am
Quoting 89578251
For V1.95, the same trade opens again, 2 times, if MT4 is closed and restarted.
I am quite busy this week. I will try to fix this bug in the next versions.
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