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Lets Automate a Simple Renko Strategy!

  • #261
  • Mar 24, 2015 4:00am Mar 24, 2015 4:00am
Quoting autobahn
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?
Yes, I had a look at the slope of the MAs. But because of missing backtest ability, I did not try it (:-
In the latest version I installed a break even function, it closes a part of the order after e.g. 10 pips to reduce risk, that seems to be good solution to minimize losses.
sminage would you like to test it?
  • #262
  • Mar 24, 2015 4:35am Mar 24, 2015 4:35am
Quoting IAmRetep
{quote} Yes, I had a look at the slope of the MAs. But because of missing backtest ability, I did not try it (:- In the latest version I installed a break even function, it closes a part of the order after e.g. 10 pips to reduce risk, that seems to be good solution to minimize losses. sminage would you like to test it?
Yes Iam happy to test .
I already run both the renko hunter math trader in 10 pair to test.
I think profit target 1st to 50% 10 pip or one bar and 50% 2bar or 20 pip and balance trail .(ex 1 lot .5 at 1st tgt , .25 at 2nd and .25 trail . )
  • #263
  • Mar 24, 2015 5:39am Mar 24, 2015 5:39am
Pardon me to interrupting your party.

First, let me go to the basics. Renko brick is formed when price moves from previous brick to the certain number of pips. So this strategy in simple words is: open position in the direction of movement after price moves two bricks and close position when price moves one brick in opposite direction.

For those who "implemented" trailing stop in EA - it is already in by definition of strategy.

Any additional filter based on conventional indicators would spoil the strategy, which is "We expect price to continue its movement".

Would it be better if we concentrate on price movements? For example - we open first position only when two bricks formed AFTER the brick of opposite color (direction).
And the main question is: How many pips is enough to open position and how many pips in opposite direction is enough to close winning position / losing position? Should we increase/decrease the size of brick in the process?

My guts feeling says 2.0 (20), 3.0(30) or even 5.0 (50) would produce too much noise and losses. Can anyone provide valid statistical evidence?

Thanks.
  • #264
  • Mar 24, 2015 5:50am Mar 24, 2015 5:50am
I think strategy work fine during high volatile market.
Attached Image (click to enlarge)
Click to Enlarge Name: renkohunter news cpi.PNG Size: 73 KB
  • #265
  • Mar 24, 2015 6:18am Mar 24, 2015 6:18am
Quoting sminage
I think strategy work fine during high volatile market. {image}
Indeed, but long choppy periods may be trouble. The key is to find the right brick size for the trading pair.
Best, Josh
  • #266
  • Mar 24, 2015 7:14am Mar 24, 2015 7:14am
Quoting sminage
I think strategy work fine during high volatile market. {image}
Yes, I think the same. And I also believe that each pair has its own optimum brick size.
For EJ am testing 5 pips bricksize for now and will report after.

Any findings on EJ optimum bricksize from anyone, or on any other pair?
  • #267
  • Mar 24, 2015 7:15am Mar 24, 2015 7:15am
To whom it may concern, the latest version of "renko_hunter". You'll get
- defined entries
- defined stops
- only 1 order per order session (buy or sell)
After 9 pips profit( break even) it closes the LeaveLots, that seems to be the best way to get successful trades.
sminage thank you for testing I am waiting in anticipation.
Attached File(s)
File Type: ex4 renko_hunter.ex4   32 KB | 1,409 downloads
  • #268
  • Mar 24, 2015 7:31am Mar 24, 2015 7:31am
Hi, to all gurus, can I get MQ4 codes instead of EX4 only, I am trying to studying the codes, if can will look for improvement.
Thank you very much
  • #269
  • Mar 24, 2015 7:41am Mar 24, 2015 7:41am
A big thank you to everyone who has contributed to this thread, I trade for 2-3 months renko and that's a strategy that seems to work for, a special thank you to the programmer! Excused my English!
  • #270
  • Mar 24, 2015 7:44am Mar 24, 2015 7:44am
Hi

Looks really interesting was wondering which files are the latest versions, want to be working with the right one please?

Thanks
  • #271
  • Mar 24, 2015 8:44am Mar 24, 2015 8:44am
Quoting mpope59
Hi Looks really interesting was wondering which files are the latest versions, want to be working with the right one please? Thanks
1.95...

MathTrader7

It would be nice to add a breakeven function... so we can set when does the EA put the SL to BE and how many pips is he protectiong + with BE for eg. BE+1.. and then the EA watches for the trade and closes like he does when another color brick appears, because now Trailing stop puts me out of good moves intead of protecting..

greetings
  • #272
  • Mar 24, 2015 8:50am Mar 24, 2015 8:50am
This shit is awesome.

Thank you Mathtrader for the automatisation.

Best preformance is 10 on EURUSD.

Other pairs are okay... Be patien with the GPBUSD.
  • #273
  • Edited 9:46am Mar 24, 2015 9:26am | Edited 9:46am
Here is Version 2.4 of the EA that lets the user specify stoploss, takeprofit and move-to-breakeven in the input settings. It also let the user set the maximum spread to open a position. The move-to-breakeven feature moves the SL to open price plus/minus the current spread. So, make sure to give enough buffer pips to the move-to-breakeven input according to your broker minimum stop distance.
Attached File(s)
File Type: ex4 MathTrader7_RenkoEA.ex4   68 KB | 1,671 downloads
Trading is the hardest way to make easy money...
  • #274
  • Mar 24, 2015 9:55am Mar 24, 2015 9:55am
Quoting shreyash
Exit Criteria:
1.When a brick of the opposite color is formed. OR
2. Trail the trade as more number of bricks are formed until your trailing stop loss takes you out!.

Stop loss:
There are 2 concepts -
1. Last significant hi or low.
2. Hi or low of the last green or red color brick - i.e. for a buy trade we will use the low of the last red brick from where the price turned. for a sell trade we will use the high of the last green brick from where the price turned. Additionally, you can use a trailing Sl of 20-30 pips to safe guard your profits.
Which exit criteria and stop loss settings have worked you the best when you are manually trading this strategy?
  • #275
  • Mar 24, 2015 10:02am Mar 24, 2015 10:02am
Wow if we set TP and SL to 0 will the EA set SL on the last min / max like before ?

-after price goes our way SL to BE after given pips distance ?

-close position in profit when other color bar appears ? ?

greetings
  • #276
  • Mar 24, 2015 10:33am Mar 24, 2015 10:33am
Here is Version 2.41 of the EA that sets the stoploss to the last swing if the user sets the stoploss to zero in the input settings.
Attached File(s)
File Type: ex4 MathTrader7_RenkoEA.ex4   70 KB | 1,357 downloads
Trading is the hardest way to make easy money...
  • #277
  • Mar 24, 2015 11:04am Mar 24, 2015 11:04am
Quoting Lupus29
-close position in profit when other color bar appears?
Yes, Up to Version 2.41, the EA closes a position if an opposite bar forms...
Trading is the hardest way to make easy money...
  • #278
  • Mar 24, 2015 11:07am Mar 24, 2015 11:07am
Quoting MathTrader7
Here is Version 2.41 of the EA that sets the stoploss to the last swing if the user sets the stoploss to zero in the input settings. {file}
Thank you
  • #279
  • Mar 24, 2015 11:17am Mar 24, 2015 11:17am
Quoting MathTrader7
Here is Version 2.41 of the EA that sets the stoploss to the last swing if the user sets the stoploss to zero in the input settings. {file}
Is it OK with this EA to choose the 'only Long' or 'only short' options? I am asking because I tried EAs by others which show a whole lot of errors and popups when that is done.

Thanks,
R.
  • #280
  • Mar 24, 2015 11:20am Mar 24, 2015 11:20am
Here is Version 2.42 of the EA that fixes a bug in spread filtering input.
Attached File(s)
File Type: ex4 MathTrader7_RenkoEA.ex4   70 KB | 1,829 downloads
Trading is the hardest way to make easy money...
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