Trading is the hardest way to make easy money...
Lets Automate a Simple Renko Strategy!
Ok as promised, this is my draft EA (corrected w/ release 4) You need the iVAR_nmc to get rid of undertermined market situations I will add the closing trade when opposite color brick is formed and closed in the next release //| except of ossible coding errors (I am not a MQ4 guru) //| also, the coded provided by Peter is very good..., //| and I very much appreciate this EA structure //| //| so, I made those improvments //| - move the renko_hunter into Build 600+ MT4 compliance //| - I have corrected some loops regarding the usage of OrdersTotal()...
- #605
- Mar 31, 2015 4:48am Mar 31, 2015 4:48am
- Joined Aug 2014 | Status: Trading | 2,163 Posts
Trading is the hardest way to make easy money...
- #610
- Mar 31, 2015 5:25am Mar 31, 2015 5:25am
- Joined Jan 2015 | Status: Trader | 1,005 Posts | Online Now
Hi,
Not sure it's appropriate, if not, just let me know and I'll remove this post.
I like the basis of this strategy so I'm playing with it a bit in order to take out as much as the whipsaw as possible without introducing more indicators into the setup.
Here's what I'm currently looking into, the MAs are different but the basic principle of buying after 2-candles break is still there, still haven't figured the best MM for this method, (if it is, indeed, a different method, in which case I will remove my post not wishing to hijack the thread), I believe proper TS, TP and SL are crucial for these kind of renko systems to be profitable.
Only visual and some manual trades but here's how it looks (with one of MathTrader's trades on the chart, as well
)
I've applied 34-EMA to both high and low (Aqua and purple lines), and was thinking about an initial SL of 3 candles + spread, BE with 20 points after 2 candles + spread and a TP of 3 candles + spread.
Still has some loses, no re-entries, unless someone can figure out a nice way to do it without getting caught up in a whipsaw that might happen the next bar.
What do you think?
Not sure it's appropriate, if not, just let me know and I'll remove this post.
I like the basis of this strategy so I'm playing with it a bit in order to take out as much as the whipsaw as possible without introducing more indicators into the setup.
Here's what I'm currently looking into, the MAs are different but the basic principle of buying after 2-candles break is still there, still haven't figured the best MM for this method, (if it is, indeed, a different method, in which case I will remove my post not wishing to hijack the thread), I believe proper TS, TP and SL are crucial for these kind of renko systems to be profitable.
Only visual and some manual trades but here's how it looks (with one of MathTrader's trades on the chart, as well
)I've applied 34-EMA to both high and low (Aqua and purple lines), and was thinking about an initial SL of 3 candles + spread, BE with 20 points after 2 candles + spread and a TP of 3 candles + spread.
Still has some loses, no re-entries, unless someone can figure out a nice way to do it without getting caught up in a whipsaw that might happen the next bar.
What do you think?
Hey Friends, here is an other Idea for an EA. {image} CCI - 14 Bye by the +100 Line Exit when the CCI contakts the +100 Sell by the -100 Line Exit when the CCI Contakts the -100 Thanks
The whole idea is to keep the strategy indicator free!
Also the CCI plots after the price moves!
So logically speaking its of no great use!
- #619
- Edited 6:32am Mar 31, 2015 6:22am | Edited 6:32am
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
But Math has coded it in such a way that say if 4 new color bricks are formed below the EMAs and the price crosses above the EMA and as soon as the brick closes it takes a trade that means the EA will take an entry on the open of 5th or 6th brick... Its risky to trade that way!
This thread has become abit of a mess from the OP, with feedback and constant updates from different EA's then the BT posts come in. IMO it will continue to cycle this way as the market does. I'm going to stop posting here but it was nice to add some feedback from my trading experience. Thanks to everyone who provided the EA's for people play with to assist in automating a ranko strategy.
I would have loved to have shared an EA but unfortunately this whole moving this has come up for me.. My main PC is also now being foul form the move.. Hoping its just the GFX.. I haven't tried any of the EA's posted here but maybe by now one offers the functionally for a user to easily select how they want to trade ranko and easily matching your OP. (thread title is automating a ranko strategy)
Best of Luck to everyone and hope you's all find a strategy your comfortable with. I'll post my version at a later date but will probably be irrelevant.
Peace out all and try catch some sets