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Lets Automate a Simple Renko Strategy!

  • #1,021
  • Apr 13, 2015 3:36am Apr 13, 2015 3:36am
Quoting ghoussse
{quote} Salamwalaikum (Greetings) MathTrader7 i really appreciate your great work to this thread, but i want some help form you bro. as far you have coded the EA & its working well, it will be awesome if u add the EMA filters to this EA, i mean for buy/sell trades for Buy trades when the 21EMA is Above 50EMA after that it should open buy only when conditions are met according to "Shreyash" (first bear candle & two bull candle, trade open immediately after two bulls candle closes. for Sell trades vice versa . Profit target are 1:2, the stop loss...
I may not understand exactly what you mean, but I guess it is already implemented in the EA. Could you explain your entry/exit strategy by an annotated chart?
Trading is the hardest way to make easy money...
  • #1,022
  • Apr 13, 2015 3:47am Apr 13, 2015 3:47am
Quoting MathTrader7
{quote} Yes, I did. Using stochastic enabled, the number of trades reduced from 312 to 200, profit reduced 16% while DD reduced 27%. Since DD reduced significantly, I released this version.
OK, I will put it on my charts as new version for forward. Thanks..Today morning nice profit again..
  • #1,023
  • Apr 13, 2015 3:50am Apr 13, 2015 3:50am
Quoting MathTrader7
{quote} Hi crkjl, check your moving averages settings on the chart and the EA's input settings for the moving averages. I changed the default settings to Periods 50 and 17, with the method linear weighted, and applied to median price.
Hi Math, you are right I've been changed MA to 50 and 21 but I forgot to change the median price to close price.
Good job again!!!
Regards
  • #1,024
  • Apr 13, 2015 5:17am Apr 13, 2015 5:17am
Quoting MathTrader7
{quote} Yes, I did. Using stochastic enabled, the number of trades reduced from 312 to 200, profit reduced 16% while DD reduced 27%. Since DD reduced significantly, I released this version.
hi thanks for updates but there is problem when it open trade after 2 same candle it place stoploss proper but exit is not good
e.g if we set "Exit by Opposite candle " : true , then it exit the position if the market start immediately in loss and form a new opposite candle the trade exit before going to stoploss this should not happen there must be an option to exit only if the trade is in profit and if then opposit candle comes then exit hope you got my point...
and there are more and more setting updates in the ea it will be better if you make a simple document file to describe each setting for new and old members thanks
  • #1,025
  • Apr 13, 2015 5:46am Apr 13, 2015 5:46am
Quoting rajastar
{quote} hi thanks for updates but there is problem when it open trade after 2 same candle it place stoploss proper but exit is not good e.g if we set "Exit by Opposite candle " : true , then it exit the position if the market start immediately in loss and form a new opposite candle the trade exit before going to stoploss this should not happen there must be an option to exit only if the trade is in profit and if then opposit candle comes then exit hope you got my point...
Hi rajastar, you are right! The EA closes a position if one opposite candle appears. I will modify the EA to close a position if a reverse candle appears and the position is in profit.

Quoting rajastar
and there are more and more setting updates in the ea it will be better if you make a simple document file to describe each setting for new and old members thanks
There is a small documentation for the input settings in each post I attach a new version of the EA. I may produce a PDF file to explain the input settings better.
Trading is the hardest way to make easy money...
  • #1,026
  • Apr 13, 2015 6:09am Apr 13, 2015 6:09am
Quoting MathTrader7
{quote} Hi rajastar, you are right! The EA closes a position if one opposite candle appears. I will modify the EA to close a position if a reverse candle appears and the position is in profit. {quote} There is a small documentation for the input settings in each post I attach a new version of the EA. I may produce a PDF file to explain the input settings better.
I think, it could be helpful to make backtest with new SL design. It might not be as useful as it seems. Thanks
  • #1,027
  • Apr 13, 2015 6:21am Apr 13, 2015 6:21am
Quoting MathTrader7
{quote} I may not understand exactly what you mean, but I guess it is already implemented in the EA. Could you explain your entry/exit strategy by an annotated chart?
Thanks for your Precious reply bro, i have attached the recent todays chart hope it explains you what i mean,
& the other thing is when the deal is in 50% profit i use to move my SL to BE. & the default stop loss pip is 30 , but when the spike occurs it could be around 2 to 4 pip extra, so i use fixed Stop loss on EUR/USD is 35 & my TP will be around 70pips
Attached Image (click to enlarge)
Click to Enlarge Name: renko romeo.jpg Size: 336 KB
Every Good Things Starts With "Bismillah"
  • #1,028
  • Apr 13, 2015 6:39am Apr 13, 2015 6:39am
Quoting ghoussse
{quote} Thanks for your Precious reply bro, i have attached the recent todays chart hope it explains you what i mean, & the other thing is when the deal is in 50% profit i use to move my SL to BE. & the default stop loss pip is 30 , but when the spike occurs it could be around 2 to 4 pip extra, so i use fixed Stop loss on EUR/USD is 35 & my TP will be around 70pips {image}
So, basically you want the EA to additionally check whether Fast MA is above/below Slow MA for BUY/SELL, right?
Trading is the hardest way to make easy money...
  • #1,029
  • Apr 13, 2015 6:50am Apr 13, 2015 6:50am
Quoting MathTrader7
{quote} So, basically you want the EA to additionally check whether Fast MA is above/below Slow MA for BUY/SELL, right?
hMMM
Every Good Things Starts With "Bismillah"
  • #1,030
  • Apr 13, 2015 1:35pm Apr 13, 2015 1:35pm
I set up a demo account. I publish the results here:
http://www.myfxbook.com/members/Fore...nko-ea/1214715

This is my set-file I use on this account:
Attached File(s)
File Type: txt MathTrader7_v2.90_20150405.txt   2 KB | 737 downloads

Just to share my experience.

FJ
  • #1,031
  • Apr 13, 2015 11:35pm Apr 13, 2015 11:35pm
Quoting Forexjeanie
I set up a demo account. I publish the results here: http://www.myfxbook.com/members/Fore...nko-ea/1214715 This is my set-file I use on this account: {file} Just to share my experience. FJ
hi
i have hard time to read your set file as text.can you please have a picture of your setting to share here?
thanks
fred
  • #1,032
  • Apr 14, 2015 1:32am Apr 14, 2015 1:32am
Hi Math. I want to ask you how Stoch filter, at last version, works. If there is a good brick entry point for SHORT what do you check on Stoch? Both lines has to be bellow level 20 or one is enough? And is it important if fast line on Stoch is under slow line in oversell area or not? Thanks
  • #1,033
  • Apr 14, 2015 2:29am Apr 14, 2015 2:29am
Quoting MathTrader7
{quote} Hi rajastar, you are right! The EA closes a position if one opposite candle appears. I will modify the EA to close a position if a reverse candle appears and the position is in profit. {quote} There is a small documentation for the input settings in each post I attach a new version of the EA. I may produce a PDF file to explain the input settings better.
hi hope you are fine i also tested that trade are open against the main trend as trade dont wait for ema 21 ,50 to cross each other , trade opens when market price cross both ema's which is not good there should be wait to open a trade only when cross is occurred too so there must be an option to have this "trade only at crossover" hope you understand and i am waiting for new version of updates that i told you before so that i can test just for remind ,
emergency changes need to ea are ,
1 : trade must close only in profit when opposite candle option is selected
2 : new trade must wait to crossover of ema's
3 : we must have the option to choose the entry brick let say open trade after 1,2, 3 or X bricks and also for exits trade after 1,2 ,3 or X bricks where "X" is any number we select 1,2,3.... (this is optional to test different stratagies)
hope you got me i am here to help you thanks
  • #1,034
  • Apr 14, 2015 4:14am Apr 14, 2015 4:14am
Quoting fredgold3434
{quote} hi i have hard time to read your set file as text.can you please have a picture of your setting to share here? thanks fred
Change the extension of file name form .txt to .set
Trading is the hardest way to make easy money...
  • #1,035
  • Apr 14, 2015 4:18am Apr 14, 2015 4:18am
Quoting dafa
Hi Math. I want to ask you how Stoch filter, at last version, works. If there is a good brick entry point for SHORT what do you check on Stoch? Both lines has to be bellow level 20 or one is enough? And is it important if fast line on Stoch is under slow line in oversell area or not? Thanks
Hi dafa, if you enable the Stochastic filter, then if there is a BUY opportunity, the EA additionally checks Main or Signal value of the stochastic indicator (whichever you specify in the input setting Stochastic Value Type) to be below Over Bought Level (another input setting). For SELL, the EA checks Stochastic Value Type to be above Over Sold Level.
Trading is the hardest way to make easy money...
  • #1,036
  • Apr 14, 2015 4:27am Apr 14, 2015 4:27am
Quoting rajastar
{quote}
1 : trade must close only in profit when opposite candle option is selected
2 : new trade must wait to crossover of ema's
3 : we must have the option to choose the entry brick let say open trade after 1,2, 3 or X bricks and also for exits trade after 1,2 ,3 or X bricks where "X" is any number we select 1,2,3.... (this is optional to test different stratagies) hope you got me i am here to help you thanks
Hi rajastar, here are my thoughts:

  1. Good point, as I agreed before...
  2. I see your point, but I do not agree with you because you need to think algorithmically for a strategy developed for an EA. In this case, two MAs have been already crossed! Just go back from the point you think the EA must check the cross, and you will find out that cross happened a few candles ago... But I have a solution for this problem you observed: I will check the slope of two MAs to agree with the position direction.
  3. This is trivial to implement, and it may improve the overall performance. I will implement it.

Trading is the hardest way to make easy money...
  • #1,037
  • Apr 14, 2015 4:45am Apr 14, 2015 4:45am
Quoting MathTrader7
{quote} Hi rajastar, here are my thoughts: Good point, as I agreed before... I see your point, but I do not agree with you because you need to think algorithmically for a strategy developed for an EA. In this case, two MAs have been already crossed! Just go back from the point you think the EA must check the cross, and you will find out that cross happened a few candles ago... But I have a solution for this problem you observed: I will check the slope of two MAs to agree with the position direction. This is trivial to implement, and it may improve...
Hi Math, could you test in backtest if time range is useful filter or not? Now I have setting for London and NY session. No trading during european night (asia session). But I am not able to do backtest on my newest MT4.:-/ I trade more pairs, AUDUSD too, and maybe for this pair night filter isn't so good

I have your standard setting with Stoch and EMA 50&17.

Thanks
  • #1,038
  • Apr 14, 2015 4:51am Apr 14, 2015 4:51am
Quoting dafa
{quote} Hi Math, could you test in backtest if time range is useful filter or not? Now I have setting for London and NY session. No trading during european night (asia session). But I am not able to do backtest on my newest MT4.:-/ I trade more pairs, AUDUSD too, and maybe for this pair night filter isn't so good I have your standard setting with Stoch and EMA 50&17. Thanks
Time filter has a significant effect on the performance. However, it totally depends on the broker time and the currency pair. For EURUSD pair and a broker with GMT2 time reference, the start and end time input settings in Version 2.98 are optimized.
Trading is the hardest way to make easy money...
  • #1,039
  • Apr 14, 2015 5:08am Apr 14, 2015 5:08am
Here is Version 2.99 of the EA that lets the user enable/disable additional check for the slope of the two moving averages. In this version the EA exits by opposite candle only if the position is in profit.
Attached File(s)
File Type: ex4 MathTrader7_RenkoEA.ex4   82 KB | 1,243 downloads
Trading is the hardest way to make easy money...
  • #1,040
  • Apr 14, 2015 5:11am Apr 14, 2015 5:11am
Quoting MathTrader7
{quote} Time filter has a significant effect on the performance. However, it totally depends on the broker time and the currency pair. For EURUSD pair and a broker with GMT2 time reference, the start and end time input settings in Version 2.98 are optimized.
OK, thanks
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