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Lets Automate a Simple Renko Strategy!

  • #961
  • Apr 9, 2015 5:17pm Apr 9, 2015 5:17pm
Quoting aledipi
sounds great, this ea is great if the oversold or overbought signals can be avoid will be excellent, thank you math, i don t know if what i was posting today helps for something but well just in case i wanted to share. all ideas are welcome and commets too.
You're welcome! :-)
The main problem with using a technical indicator such as Stochastic oscillator is that the fixed input settings (periods in this case) do not work in all conditions of the market. They may work perfectly for a few months, for example, but in long run we need some reliable method.
Trading is the hardest way to make easy money...
  • #962
  • Apr 9, 2015 7:18pm Apr 9, 2015 7:18pm
Hi Math ,
thx for your hard work sharing this system with us , Using your EA i noticed it sometimes open 2 -3 trades on 1 pair ,also when open the charts it sometimes open trades if more then 2 candles closed in the same direction .Is there a way in the setting to get only 1 trade per pair .
  • #963
  • Apr 9, 2015 7:37pm Apr 9, 2015 7:37pm
Quoting dafa
{quote} It's simple with renko but during flat market, usually, you return your profit back to the market. Especially with 8 pairs.:-/

This, my friend, is a stellar observation!
And
I concur!

Most interest is gained in a Renko system when the trends are hammering...the following week, most fall off.

Who want's to hang out in a thread/with a system when the fit hits the proverbial shan?

The fact that we are going into a weekly close, does actually bode well for this EA, today...but if you check your charts, that isn't a lot different than most weeks. By Wednesday London Close, there is typically a Weekly Trend that kicks in and by only directionally trading the week, (above the moving averages), you can typically maximize gains and minimize risk.

TYPICALLY

With any trade methodology there are always issues and those aren't necessary with the trade system, but more so to the user. First sign of loss and people run wildly into the streets, screaming!!

IT'S all BULLSHIT!

Patience.

There will be days you win, there will be days you lose, but if you monitor the days and weeks that you stand the highest probabilities in, (as applied to most systems), you can still prosper.

1 day of wins does not make any idea successful.

In the same that 1 day of loss makes any system a loser.

Knowing what, when and how to trade is what can separate you from the 95%, or 2000 traders per day that are forced to exit the market on equity alone.

Keep to your observation!!!!

And rather than throwing the baby out with the bath water, watch for opportunity. This will be the key to your longevity with any automated trader.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #964
  • Apr 10, 2015 1:47am Apr 10, 2015 1:47am
Quoting rozafx
Here update of today trade by MT7 EA of version 2.87. As you can see how this EA taking the trade.. Actually there are no trade will be open today if you used the latest EA by MT7, Version 2.9..The latest version by MT7 will keep you bullet, only fire for quality trade..It's depend on your trading plan and money management... Moreover, most of bank on holiday mode today. So, will keep it running... {image}
Thank you Mathtrader for your great work here! I allways wanted to try using renko charts. So I took the chance and jumped in this thread.
I set up Mathtrader on 10 pairs and took set-files from post #806. All seems running ok although I have no trades, yet.

Renko charts were built with Renko-Mod.

Now I am left with the question how the chart builder will impact the results.

If rozafx in his post above is correct then with Median-Renkl candle 1 would open at the close of candle 3.
If Reno-Mod is used then candle 1 will open at the close of candle 2.

At brick size "n" that is n pips difference when entering a trade. That seems to be a complete different thing.

Is this correct or am I missing something?
Should therefore results posted here be quoted with the offset of the renko chart (shifted 50% vs. shifted 100%)?

FJ
  • #965
  • Apr 10, 2015 2:09am Apr 10, 2015 2:09am
Wow! And since a few minutes I have my first trades.

FJ
  • #966
  • Apr 10, 2015 2:15am Apr 10, 2015 2:15am
Hi Math,

why EA doesn't open trade? Look at the picture, pls. Is't right place? I changed EA from median to RENKO_mod, from you. It is gold today.
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  • #967
  • Apr 10, 2015 2:16am Apr 10, 2015 2:16am
Quoting dafa
Hi Math, why EA doesn't open trade? Look at the picture, pls. Is't right place? I changed EA from median to RENKO_mod, from you. It is gold today. {image}
Is the long shadow problem?
  • #968
  • Apr 10, 2015 2:54am Apr 10, 2015 2:54am
Quoting MathTrader7
Here is Version 2.95 of the EA in which I changed the trailing stop algorithm to solve the problem of high frequency modification of stop loss. Note: I have found a method based on price action that can potentially reduce the number of false signals; technical indicators are disappointing. I may release Version 3.0+ which could have a better performance. {file}
Hi Math, testing the new version in real and until now all works fine. SL problem is missing!!!
Thanks a lot again!!!
4 trades from 8 morning in profit. When the trend is with you...
  • #969
  • Apr 10, 2015 3:40am Apr 10, 2015 3:40am
yes today and yesterday was outstanding , this nice trend from euro

math i understand about the stocastic may be just a simple ema like 200 or 55 and when price is x pips from it stop the robot, or beter when the price is close x pips from those medias start working something like that may be can be usefull, just an idea.

but in ranges will be bad, as medias are together

renko shows prety clear doubles tops or bottons may be that can be useful if you want to implement some price action

the ea is working great
  • #970
  • Apr 10, 2015 4:24am Apr 10, 2015 4:24am
Quoting crkjl
{quote} Hi Math, testing the new version in real and until now all works fine. SL problem is missing!!! Thanks a lot again!!! 4 trades from 8 morning in profit. When the trend is with you...
Glad to hear that :-)
would you please share the input settings you are using in live test with us? Thanks in advance.
Trading is the hardest way to make easy money...
  • #971
  • Apr 10, 2015 4:25am Apr 10, 2015 4:25am
Quoting magix
{quote} patience. There will be days you win, there will be days you lose, but if you monitor the days and weeks that you stand the highest probabilities in, (as applied to most systems), you can still prosper. 1 day of wins does not make any idea successful. In the same that 1 day of loss makes any system a loser. ... keep to your observation!!!! And rather than throwing the baby out with the bath water, watch for opportunity. This will be the key to your longevity with any automated trader.
to print out and hang in front of every trader.
Siddhartha G
  • #972
  • Apr 10, 2015 4:30am Apr 10, 2015 4:30am
Quoting MathTrader7
{quote} Glad to hear that :-) would you please share the input settings you are using in live test with us? Thanks in advance.
Sure, mostly are default input but here are.
By the way... could be a helpful thing to have the magic number be random in order to not to have to modify every time that you add a chart.


Regards
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  • #973
  • Apr 10, 2015 4:43am Apr 10, 2015 4:43am
Quoting dafa
Hi Math, why EA doesn't open trade? Look at the picture, pls. Is't right place? I changed EA from median to RENKO_mod, from you. It is gold today. {image}
According to the strategy, for the situation you illustrated in the picture, there must be a second bearish Renko candle so that the EA opens a SELL position.
Trading is the hardest way to make easy money...
  • #974
  • Apr 10, 2015 4:46am Apr 10, 2015 4:46am
Quoting crkjl
{quote} Sure, mostly are default input but here are. By the way... could be a helpful thing to have the magic number be random in order to not to have to modify every time that you add a chart. Regards {image}
Thanks for the input settings
Regarding the magic number, simply put, you do not need to change it for different pairs/charts! The EA automatically identifies which position belongs to which chart/pair :-)
Trading is the hardest way to make easy money...
  • #975
  • Apr 10, 2015 4:56am Apr 10, 2015 4:56am
Quoting Forexjeanie
{quote} Thank you Mathtrader for your great work here! I allways wanted to try using renko charts. So I took the chance and jumped in this thread. I set up Mathtrader on 10 pairs and took set-files from post #806. All seems running ok although I have no trades, yet. Renko charts were built with Renko-Mod. Now I am left with the question how the chart builder will impact the results. If rozafx in his post above is correct then with Median-Renkl candle 1 would open at the close of candle 3. If Reno-Mod is used then candle 1 will open at the close...
Hi Forexjeanie,

I have tested MathT7 EA under both type of renko, EA will open post after complete candle 1, no matter how type renko we used, because EA has been coding like that. I mean EA has been set, after candle 1 close, entry order will be send to broker...

So in this cases, when using Med-renko, i will got an early entry, if brick has setup with same size..
Regarding the .set file I upload previously is not valid anymore since I got it from backtest, now I got a big hole on my account when using those setting in live market for whole week..I need to play around with another setting in live market, no more backtest..LOL...
  • #976
  • Apr 10, 2015 5:07am Apr 10, 2015 5:07am
Quoting rozafx
{quote} Hi Forexjeanie, I have tested MathT7 EA under both type of renko, EA will open post after complete candle 1, no matter how type renko we used, because EA has been coding like that. I mean EA has been set, after candle 1 close, entry order will be send to broker... So in this cases, when using Med-renko, i will got an early entry, if brick has setup with same size.. Regarding the .set file I upload previously is not valid anymore since I got it from backtest, now I got a big hole on my account when using those setting in live market for whole...
I changed setting few times during this week. But last two days cover my losses from begining of the week. But sure, I am on demo with this system yet. So I hope you will cover losses too.
  • #977
  • Apr 10, 2015 5:36am Apr 10, 2015 5:36am
Thanks dafa, actually the account I uses to forward test a new system only or something new..not my personal account..hopefully will recover next week..
Regarding the MathT7 EA, I need to find the best MA setting together which type of renko is suite on that to get max level on MathT7 EA..and of course on live market...
Well, not so much I can do with it since it just MA stand alone, no other's filter as what I uses in my renko trading system. You can see attached picture for example.

Hi MathTrader,

Do you think open position step, 3,2,1 is the best method..? Because I think it's to late for open position using this step..
How about just 3,2 only for EA opening the position..??
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  • #978
  • Apr 10, 2015 5:41am Apr 10, 2015 5:41am
Hi guys before starting a new topic is there any EA avaialble according the following logic
Renko 10 pips boxes 2 boxes in the same direction open the trade in this direction sl 35 pips or 3,5 boxes breakeven 20 pips (let the breakeven follow 2 boxes behind ) or close when opposite candle is formed after the breakeven of 20 pips .Only 1 trade per pair can be open at the same time

There is a video on utube explaining this strategy and it works i checked it last two weeks on Eur/usd and it made nice pips the Gbp/usd looks even better

Thx in advance for any suggestions and or links

Inserted Video
Attached Image
  • #979
  • Apr 10, 2015 5:56am Apr 10, 2015 5:56am
Quoting rozafx
Hi MathTrader, Do you think open position step, 3,2,1 is the best method..? Because I think it's to late for open position using this step.. How about just 3,2 only for EA opening the position..?? {image}
Hi rozafx, the core of the EA is the strategy stated in Post 1. Whether 3,2,1 is the best method or 3,2, or something else, I simply do not know! :-) What I'm working on is a price action method to reduce the number of false signals.

P.S. The EA is developed for standard Renko charts, it may not work properly on Median Renko charts.
Trading is the hardest way to make easy money...
  • #980
  • Apr 10, 2015 6:29am Apr 10, 2015 6:29am
Quoting MathTrader7
{quote} Hi rozafx, the core of the EA is the strategy stated in Post 1. Whether 3,2,1 is the best method or 3,2, or something else, I simply do not know! :-) What I'm working on is a price action method to reduce the number of false signals. P.S. The EA is developed for standard Renko charts, it may not work properly on Median Renko charts.
yes, absolutely it's based on post 1..Just a small idea from me because the entry has waste so much pip....or.., how about after close candle 2, EA will open stop order at the same place with candle 1 complete..??
We all together here want to upgrade to get a better result..
Then regarding the Med-renko, it's for my personal use and before test on Med-renko, of course I have tested on old school renko as per original function of the EA..

Btw MathT7, you have an extra knowledge on coding EA, not many people know that including me..
I believe on you in getting the best setup for all of us in this story..Keep it up buddy..!!
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