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Lets Automate a Simple Renko Strategy!

  • #721
  • Apr 2, 2015 3:09pm Apr 2, 2015 3:09pm
Quoting magregor
I've tried that strategy RenkoMaker Pro and be careful because it repaints, if you reload the template some arrows disappears.
If they repaint, it is not worth giving the strategy a try to automate....
Trading is the hardest way to make easy money...
  • #722
  • Apr 2, 2015 3:18pm Apr 2, 2015 3:18pm
Quoting MathTrader7
{quote} If they repaint, it is not worth giving the strategy a try to automate....
All indicators with the inclusion of candlesticks repaint.

When data backfills on the weekend, and a new week starts, there isn't a single chart item that can be trusted.

The difference comes in your interpretation and accepting marginal losses, if they are outweighed by the gains.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #723
  • Apr 2, 2015 3:21pm Apr 2, 2015 3:21pm
Renkomaker Pro is also being distributed via a well know auction site by sellers with hundreds of ratings and - for what it's worth - I did not find any negative rating because of repainting issues.
  • #724
  • Edited 4:21pm Apr 2, 2015 3:38pm | Edited 4:21pm
Here is Version 2.70 of the EA that lets the user select three types of stop loss:

1. FixedSL: A fixed stop loss will be used for all trades.
2. Candle3ClosePrice: The close price of Candle 3 will be set as the stop loss (plus the current spread).
3. LastSwing: Last low/high swing of price will be set as the stop loss (plus the current spread).

I removed the option Check for Candle 3 in this version.
Attached File(s)
File Type: ex4 MathTrader7_RenkoEA.ex4   138 KB | 1,226 downloads
Trading is the hardest way to make easy money...
  • #725
  • Apr 2, 2015 5:51pm Apr 2, 2015 5:51pm
Quoting Magix
{quote} Your Fast and Simple picture looks great. Like All Moving Average Cross Over systems. The unfortunate part is that you don't realize the spread or where the actual trade gets taken. Longs - If (MAFAST[2]<MASLOW[2] && MAFAST[1]>MASLOW[1] && Close[1]>MAFAST)return (buy); Shorts - If(MASLOW[2]>MAFAST[2] && MASLOW[1]<MAFAST[1] && Close[1]<MASLOW) return (sell); That is what the code would have to say, to take you ideas into consideration. Here is what these trades would look like on a reverse candle close, single candle. W=Wins L=Losses M=Marginal...
I think we don't understand each other what I mean. If I understand yours picture well so you close trades as original strategy - reverse brick or two reverse bricks or on MA cross back. But this is not my idea. At this point it couldn't work. I am thinking in longer term. I described only BE point, not take profit point. If you read my picture one more time so I described only entry point. If yo use BE after (i don't know) 10-20-30 pips, it depends on brick size, so you have no loss at this time period.
  • #726
  • Apr 2, 2015 5:56pm Apr 2, 2015 5:56pm
Quoting MathTrader7
Here is Version 2.70 of the EA that lets the user select three types of stop loss: 1. FixedSL: A fixed stop loss will be used for all trades. 2. Candle3ClosePrice: The close price of Candle 3 will be set as the stop loss (plus the current spread). 3. LastSwing: Last low/high swing of price will be set as the stop loss (plus the current spread). I removed the option Check for Candle 3 in this version. {file}
GREAT!! Very helpful..;-)
  • #727
  • Apr 2, 2015 6:00pm Apr 2, 2015 6:00pm
Quoting Magix
{quote} All indicators with the inclusion of candlesticks repaint. When data backfills on the weekend, and a new week starts, there isn't a single chart item that can be trusted. The difference comes in your interpretation and accepting marginal losses, if they are outweighed by the gains.
Agreement..
  • #728
  • Apr 2, 2015 6:17pm Apr 2, 2015 6:17pm
Quoting dafa
{quote} I think we don't understand each other what I mean. If I understand yours picture well so you close trades as original strategy - reverse brick or two reverse bricks or on MA cross back. But this is not my idea. At this point it couldn't work. I am thinking in longer term. I described only BE point, not take profit point. If you read my picture one more time so I described only entry point. If yo use BE after (i don't know) 10-20-30 pips, it depends on brick size, so you have no loss at this time period.
Oh, buddy...I totally gotcha.

What you don't seem to understand is how triggering, code and this entry works.

Your break even after profit>0 would mean that "IF", your trade ever made it above spread and loss, it would be tripped out on volatility alone at BE or a fraction below by the time the trade closed.

In addition to this...you aren't the only one to think that a Moving Average strategy would be profitable, and come right down to it, the 20x50 cross was my power in my early days, used to trade this on the M1s.

Thing is, this doesn't need to be coded...AGAIN. This very idea has been coded and recoded ad-nauseam...flex your google muscles and look for moving average cross ea, I'd be willing to be you find your exact spin.

It's long done and abandoned, and all for the reasons I've stated.

Been there.
Done that.

Ain't going back.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #729
  • Apr 2, 2015 6:55pm Apr 2, 2015 6:55pm
Quoting Magix
{quote} Oh, buddy...I totally gotcha. What you don't seem to understand is how triggering, code and this entry works. Your break even after profit>0 would mean that "IF", your trade ever made it above spread and loss, it would be tripped out on volatility alone at BE or a fraction below by the time the trade closed. In addition to this...you aren't the only one to think that a Moving Average strategy would be profitable, and come right down to it, the 20x50 cross was my power in my early days, used to trade this on the M1s. Thing is, this doesn't...
One thing. I think it is not true that MA cross strategy doesn't work in long term. What about turtles? And M1 isn't H4, true? it depends on brick size. Yes, there are lot of EAs for EMA out of the world but not for RENKO and not with SL to Hi/Lo. But it's true that I don't know if EA for standard chart couldn't work for RENKO chart as well without modifying. If yes, than probably isn't necessary to do it again.
  • #730
  • Apr 2, 2015 7:43pm Apr 2, 2015 7:43pm
Quoting dafa
{quote} One thing. I think it is not true that MA cross strategy doesn't work in long term. What about turtles? And M1 isn't H4, true? it depends on brick size. Yes, there are lot of EAs for EMA out of the world but not for RENKO and not with SL to Hi/Lo. But it's true that I don't know if EA for standard chart couldn't work for RENKO chart as well without modifying. If yes, than probably isn't necessary to do it again.
So then why not suggest a Turtles EA?

Simply because that too has been done to death and failed miserably...ever trade the turtles? I'm not saying it won't work, but there is more art than science to that notion as well...

Seriously speaking, if there were any 1, 100% profitable system, everybody would only use that and it would fail to work. Appreciate what happens if the market as a whole took the same ideas on position taking...no liquidity...black swan...could you sell when you wanted to, could you buy back when you wanted to?

The idea of using Moving Averages in trading works...using a moving average cross doesn't. By simple application, a moving average cross entry is no better statistically than a coin toss entry. Sometimes price goes up, sometimes it falls back down and the larger the time frame in the trade is the greater the size of draw you have to be willing to appreciate before profit or cutting losses.

A MOVING AVERAGE CROSS EA FAILS ACROSS THE BOARD.
IT HAS BEEN DONE TO DEATH AND PROVEN TO FAIL.
THERE ARE HUNDREDS OF VERSIONS YOU CAN TEST TO PROVE THIS TO YOURSELF.

Having a glimpse at market and any specific system is to try and grasp trend, from there, to play inside of this dependent on the timeframe or range you feel relevant. I've spent years tripping the M1 trends and have only this year moved to a larger time frame for trading - M5 and am really only scratching the surface of grasping an idea of higher probability trades in Renko...yeah, I've played with them before, but given the lag on my terminal and VPS's, haven't really been sold on either their validity nor their specific probabilities...for me now, just having a fresh look.

My fresh look is a take off of what has and is currently failing in the current logic and methodology as put forth by the Op. Where I view the chopzone as a specific opportunity, the current logic sees it as a continuous bank drain. So, how to trade it??

I love cost averaging and love MartinGaling...that shit is my wheelhouse!!

Under the specific premise that a broken clock will be correct 2x per day, I am tuning my ideas around this specific Idea. Check out the chart, it is a loose use of Stochastics and CCI (histogram). Current logic is that if the Stochs is Overbought and CCI was greater than 100 and CCI Closes below 100, take a sell. If Stochs is Oversold and CCI was less than -100 and Closes above -100, take a buy. Set in a reasonable stop loss, set in a reasonable take profit and add to each losing position until a trade closes in profit.

Now, the ranges are going to change and I would prefer to play this out as a true stop and reverse, am seeing how I can actually adapt the ranges based on probabilities.

How does this actually relate to your idea?

It doesn't....

I've tried, and written the Mike_Hunter based on a non-trend, have seen the results of the op thread and tested the fuck out of almost every system in the factory and guess what?

Yup, I'm still happier checking a broken clock for when it might be correct.

IF or WHEN you prove me wrong, this will be a huge fucking I told you so...but in that, you are going to have to come into the house packing more then 2 moving averages crossing as a system. Trend identifier as in what Peter has written..sure, but in itself, the idea is flat, busted, tested and dead.

My traders logic in visual:
Red lines are sells, green are buys. Trail stop and static profit/loss in tow.

Attached Image (click to enlarge)
Click to Enlarge Name: 123.png Size: 64 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #731
  • Apr 2, 2015 8:16pm Apr 2, 2015 8:16pm
Quoting magregor
I've tried that strategy RenkoMaker Pro and be careful because it repaints, if you reload the template some arrows disappears.
depends on how repaiting the indicators are, for an unclosed bar, itself repaints, but once it is closed, if it is not repainting, you can not count this into repainting.
we will see what it will do in real market
patience is a virtue
  • #732
  • Apr 2, 2015 8:31pm Apr 2, 2015 8:31pm
Quoting blueseahorse
for an unclosed bar, itself repaints

An "unclosed" bar is painting...

A repainting indicator changes after the bar has closed.

There is a huge difference between.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #733
  • Apr 2, 2015 9:14pm Apr 2, 2015 9:14pm
Quoting Magix
{quote} An "unclosed" bar is painting... A repainting indicator changes after the bar has closed. There is a huge difference between.
what i mean is when the bar is closed, if the indicator aligning to the bar will not be changed, it is not repainting
patience is a virtue
  • #734
  • Apr 2, 2015 11:47pm Apr 2, 2015 11:47pm
just testing today,when I saw entry point it's late..
Let's see how it's going on..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.png Size: 24 KB
Click to Enlarge Name: 2.png Size: 32 KB
  • #735
  • Edited 1:15am Apr 3, 2015 12:06am | Edited 1:15am
I am working on a channel strategy, I don't trust Renko Trends too much. Should help to keep me out of choppy zones and respect SR levels. Possible entries are breakouts and, only if the channel is wide enough trading to the other borderline. I am implementing this in my EA where I did a backtest yesterday.

The picture shows 1 pip Bricks for testing only. The EA will use bigger Bricks.

Edit: Changed the picture.
Attached Image (click to enlarge)
Click to Enlarge Name: AAA.jpg Size: 213 KB
  • #736
  • Apr 3, 2015 12:34am Apr 3, 2015 12:34am
Quoting verified
I am working on a channel strategy, I don't trust Renko Trends too much. Should help to keep me out of choppy zones and respect SR levels. Possible entries are breakouts and, only if the channel is wide enough trading to the other borderline. I am implementing this in my EA where I did a backtest yesterday. The picture shows 1 pip Bricks for testing only. The EA will use bigger Bricks. {image}
Looking forward to it !!!
  • #737
  • Apr 3, 2015 3:44am Apr 3, 2015 3:44am
Quoting 274275025
just testing today,when I saw entry point it's late.. Let's see how it's going on.. {image} {image}

no trend today due holiday..I have to leave office so close all..max DD is zero..I entry not best point due I check late..
Hope can build an EA and group forward testing..

by the way,I reload twice tpl no repaint..

Best Regard

Liu
Attached File(s)
File Type: rar DetailedStatement.rar   7 KB | 633 downloads
  • #738
  • Apr 3, 2015 4:31am Apr 3, 2015 4:31am
Here is Version 2.86 of the EA that lets the user select three types of trailing stop methods and adds another mode for stop loss:

Stop loss methods:
1. FixedSL: A fixed stop loss will be used for all trades.
2. Candle2OpenPrice: The open price of Candle 2 will be set as the stop loss (plus the current spread).
2. Candle3ClosePrice: The close price of Candle 3 will be set as the stop loss (plus the current spread).
3. LastSwing: Last low/high swing of price will be set as the stop loss (plus the current spread).

Trailing stop methods:
1. FixedDistance: A fixed trialing stop will be used for open trades.
2. Every3Candles: In every three candles move in the favor of the position, the stop loss will be set to the open level of Candle 3.
3. NoTrailingStop: Disables the trailing stop feature.

Note: Every3Canedles mode has not been fully tested. Please report any bug.
Attached File(s)
File Type: ex4 MathTrader7_RenkoEA.ex4   143 KB | 1,140 downloads
Trading is the hardest way to make easy money...
  • #739
  • Edited 7:19am Apr 3, 2015 4:52am | Edited 7:19am
Ok, here it is. It is a new EA ( no more the same as the Renko Builder ) and needs a helper indicator for the channel. The EA trades a lot, in this test 5x24. Test Period is 5.5 months, as you can see in the report attached. Due to it's incicator, it needs to be tested in visual mode.

Entry
when 2 consecutive candles and more than 2 bricks distance to the opposite channel border or
when 2 consecutive candles and new candle can open outside of the channel ( breakout )

Exit on opposite candle

Brick size 5
No TP
Stop Loss 10 pips fix, spread is included
Lots 0.5
No MM, just plain trading, one trade after the other

I am not happy with the profit / loss ratio but other than that ... . Try to improve this and hope I can post the EA with its indicator soon so that you can verify the results. I will not post the mql4 code, but the ex4 files. New policy... they will work on MT4 Build > 600, I use Build 765 ATM.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Channel Results.jpg Size: 146 KB
Click to Enlarge Name: BBB.jpg Size: 262 KB
  • #740
  • Apr 3, 2015 5:33am Apr 3, 2015 5:33am
Quoting verified
Ok, here it is. It is a new EA ( no more the same as the Renko Builder ) and needs a helper indicator for the channel. The EA trades a lot, in this test 5x24. Test Period is 5.5 months, as you can see in the report attached. Due to it's incicator, it needs to be tested in visual mode. Entry when 2 consecutive candles and more than 2 bricks distance to the opposite channel border or when 2 consecutive candles and new candle can open outside of the channel ( breakout ) Exit on opposite candle Brick size 5 No TP Stop Loss 10 pips fix, spread is included...
looking forward to test it ..
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