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Lets Automate a Simple Renko Strategy!

  • #381
  • Mar 26, 2015 6:12am Mar 26, 2015 6:12am
Quoting jaguar1637
Hi Josh you 'r right. I am waiting for the new Renko_Hunter release from IAmRetep Do not forget to install the iVAR_NMC in the Indicators directory
Will do, thanks :-)
  • #382
  • Mar 26, 2015 6:32am Mar 26, 2015 6:32am
Quoting IAmRetep
{quote} Seems correctly because one brick back MA21 is not < MA50.
hi peter
i understand the entries now, what about the exits? i use standard 0.2 lots, level lot is 0.1 lot, breakeven is 9 pips
so the exit should be 0.1 lot when 9 pips hit, then the other 0.1 lot close on candle color change. right?
but some trades are: 0.1 lot close on 9 pips, the other 0.1 close on 9 pips too. what cause this?
patience is a virtue
  • #383
  • Mar 26, 2015 6:36am Mar 26, 2015 6:36am
Hello to all ,
I think this strategy is good as long as you know what you are doing. base on my experience no expert or system is 100% perfect, but since RENKO or Heiken Ashi charts filter the noise specially in lower time frames a trader can have a great visual tool in order to stay in a trend longer if she / he master his / her mind and emotions.

I'm also about to build an EA which works with Heiken Ashi which is my trading strategy. I will update you guys when its done.

keep up the good work buddy
wish you luck
  • #384
  • Mar 26, 2015 7:03am Mar 26, 2015 7:03am
This draft works
Attached File(s)
File Type: mq4 Renko_Hunter_v4.mq4   37 KB | 1,061 downloads
  • #385
  • Mar 26, 2015 7:15am Mar 26, 2015 7:15am
Hi,

Now that everything is working, I've set up two demo account for the MAthTrader7 EA and the renko_hunter

The MathTrader7 EA with SL tried to place a SL at the nearest high (for sell) but it was, I think, too small for my broker. Can it check for the allowed stop level, please? Or maybe it's the TP that needs to change?

As for the renko_hunter? Which is the latest version? I'm a bit confused since it doesn't have a version attached to it. Also, in some cases, it opens and closes the first part of the trade too fast.
What happens if I only want a single trade and not two?



Thanks.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 7 KB
Click to Enlarge Name: Capture1.PNG Size: 10 KB
  • #386
  • Mar 26, 2015 7:28am Mar 26, 2015 7:28am
If someone (from all those traders currently watching this thread )
35 traders viewing now, 22 are members:
ergest7 , minage Danyashi lucariga nogames2014 afhacker imran.78p batemap IAmRetep krumpy 89578251 kaczucha11 Reamasesa leeb77 JoshuaHope okfx making_money .. etc

could tell me how to backtest this EA I just made, on Offline Charts ...
  • #387
  • Mar 26, 2015 7:59am Mar 26, 2015 7:59am
Have you already tried this method?

http://www.forexfactory.com/showthread.php?t=483951
  • #388
  • Mar 26, 2015 8:05am Mar 26, 2015 8:05am
Quoting autobahn
Have you already tried this method? http://www.forexfactory.com/showthread.php?t=483951
Great ! I will try it right away ! TIA
  • #389
  • Mar 26, 2015 8:42am Mar 26, 2015 8:42am
Quoting blueseahorse
{quote} hi peter i understand the entries now, what about the exits? i use standard 0.2 lots, level lot is 0.1 lot, breakeven is 9 pips so the exit should be 0.1 lot when 9 pips hit, then the other 0.1 lot close on candle color change. right? but some trades are: 0.1 lot close on 9 pips, the other 0.1 close on 9 pips too. what cause this?
Don't know, I'll check it. Generally about break even see here, please. http://www.forexfactory.com/showthre...28#post8163828
  • #390
  • Mar 26, 2015 8:45am Mar 26, 2015 8:45am
Hi,

Not sure the MathTrader7_RenkoEA is opening trades correctly, see attached picture.
Also, are there any recommended pairs to trade? I'm trying to set up a trade explorer for my two accounts, both are losing since I started using the EAs.



Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: Buy.PNG Size: 57 KB
  • #391
  • Mar 26, 2015 8:52am Mar 26, 2015 8:52am
Quoting Reamasesa
Hi, Not sure the MathTrader7_RenkoEA is opening trades correctly, see attached picture. Also, are there any recommended pairs to trade? I'm trying to set up a trade explorer for my two accounts, both are losing since I started using the EAs. Thanks. {image}
Looks like a correct buy, but you have to account for spread on the pair. Also, I have not used the 2.42 version, but that SL and TP look off. Its a bad risk vs reward ratio. Have you changed any settings? What size bars are you using? Try backtesting with that pair with brick size and you might get some answers. I would suggest 10-20 brick size - seems to bring best results in the long run. Best, Josh
  • #392
  • Mar 26, 2015 8:53am Mar 26, 2015 8:53am
Quoting Reamasesa
Hi, Not sure the MathTrader7_RenkoEA is opening trades correctly, see attached picture. Also, are there any recommended pairs to trade? I'm trying to set up a trade explorer for my two accounts, both are losing since I started using the EAs. Thanks. {image}
Two bullish candles and close over the MA`s, so thats a correct trade, I think.
Im tryng on demo MathTrader7_RenkoEA in EUR/USD and GBP/USD using 5 and 10 bricks renko charts and good results in both of then for now.
  • #393
  • Mar 26, 2015 8:55am Mar 26, 2015 8:55am
Quoting jaguar1637
If someone (from all those traders currently watching this thread ) 35 traders viewing now, 22 are members: ergest7 , minage Danyashi lucariga nogames2014 afhacker imran.78p batemap...
which ea jaguar? the renko hunter v4? do we need to install the indicator that you've post before to use this ea?
  • #394
  • Mar 26, 2015 8:56am Mar 26, 2015 8:56am
Quoting Reamasesa
Hi, Not sure the MathTrader7_RenkoEA is opening trades correctly, see attached picture. Also, are there any recommended pairs to trade? I'm trying to set up a trade explorer for my two accounts, both are losing since I started using the EAs. Thanks. {image}
This entry is correct.

For the Renko Hunter, it uses the fast and slow moving averages as a directional filter.
For the MathTrader version, it only requires a close above or below both moving averages to take a trade.

This is where the confusion comes in.

Peter coded it as a standard trigger and trend system.
Math coded it as was stated by the Op.

As they are 2 different systems, knowing the entry logic of each will hopefully help you make the decision as to which one is best.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #395
  • Mar 26, 2015 9:06am Mar 26, 2015 9:06am
Quoting making_money
{quote} which ea jaguar? the renko hunter v4? do we need to install the indicator that you've post before to use this ea?
Yeq => for the next release of the Renko_Hunter i will provide
  • #396
  • Mar 26, 2015 9:28am Mar 26, 2015 9:28am
Quoting IAmRetep
{quote} Don't know, I'll check it. Generally about break even see here, please. http://www.forexfactory.com/showthre...28#post8163828
it is quite odd, when i am backtesting everything seems to be fine, all the trades are taken correctly
but when i put it into demo trading, the exits are becoming unexpectable
is it because i am testing a ECN broker?
patience is a virtue
  • #397
  • Mar 26, 2015 9:40am Mar 26, 2015 9:40am
Quoting blueseahorse
{quote} it is quite odd, when i am backtesting everything seems to be fine, all the trades are taken correctly but when i put it into demo trading, the exits are becoming unexpectable is it because i am testing a ECN broker?
ECN broker is not the problem. Backtesting results are perhaps not validly? Please post a screenshot.
  • #398
  • Mar 26, 2015 9:41am Mar 26, 2015 9:41am
i have a thought about alternatives of exit the trades, i don't know if this will resulting in a bigger chance to hold on a trending market or it will cause more losing trades than a profit ones.

1. putting option in the EA whether to close on the opposite brick that is formed or stick to the SL/TS. like the picture, if the opposite brick used as the exit, then we'll miss a possible longer trend. but if SL/TS was used (depend on the SL and TS), then we're possibly can catch the moment and have a bigger profit.
Attached Image (click to enlarge)
Click to Enlarge Name: trading renko.jpg Size: 196 KB


2. the trailing stop that is move only a full brick is formed. so it is not as a usual TS which is move when the price move to make a new low/high, this TR that i thought only move when a brick is formed, so if the brick size is 10, then the SL will move every 10 pips movement. the profit that is locked is set in the last brick close price.

well that is my idea. i'd like to hear any opinions from you.
  • #399
  • Mar 26, 2015 9:52am Mar 26, 2015 9:52am
Quoting making_money
i'd like to hear any opinions from you.
Analyze the wicks on your bricks.

You'd be tripped out MAD, simply relying on a Trail.

The reason for Close Candle Closes and Renko is to try and remove the noise. There isn't much value in a trail unless a Massive trend kicks in. More often than not, you will be whipped out of market with a skinny profit to minimal losses, consistently.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #400
  • Edited 10:18am Mar 26, 2015 9:54am | Edited 10:18am
Quoting Magix
{quote} This entry is correct. For the Renko Hunter, it uses the fast and slow moving averages as a directional filter. For the MathTrader version, it only requires a close above or below both moving averages to take a trade. This is where the confusion comes in. Peter coded it as a standard trigger and trend system. Math coded it as was stated by the Op. As they are 2 different systems, knowing the entry logic of each will hopefully help you make the decision as to which one is best.
Hey Magix ! which system logic is the most reliable ? Standard trigger or stated by the Op. ?
or, may be this system logic should perform as EA based on HA smoothed ?

Well, there is another method based on fractals, shown inside the attached picture
it's based on polarized fractals efficiency automatically recalculated by Goertzel (in the second pic)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: entry_exit_signals_on_offline_chart.gif Size: 35 KB
Click to Enlarge Name: entry_exit_signals_on_offline_chart2.gif Size: 40 KB
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