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Lets Automate a Simple Renko Strategy!

  • #1,301
  • Apr 23, 2015 3:05pm Apr 23, 2015 3:05pm
Quoting sminage
ea settings {image}
Nice results. Can you please clarify your renko chart setting? Thank you.
Best, Josh
  • #1,302
  • Apr 23, 2015 3:17pm Apr 23, 2015 3:17pm
Quoting JoshuaHope
{quote} Nice results. Can you please clarify your renko chart setting? Thank you. Best, Josh
I agree - nice results. I struggled with these EAs for several weeks. I could never get anything better than break even.
This eurusd demo is doing well. I'll assume the settings are the ones posted in the screenshot. What size bricks are you using?
  • #1,303
  • Apr 23, 2015 6:43pm Apr 23, 2015 6:43pm
Help me please code a EA based on this strategy. Look at the picture. If the prices 2 bricks are above the MA buy trades .
If the prices 2 brick are below the MA sell trades . If the prices 1 bricks are above or below the MA exit open trade Adjustable settings: Lotsize, Stop loss size, MA method and size, Magic number, Breakeven,
Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: MA + RENKO 1 brick close 2 brick open.PNG Size: 36 KB
  • #1,304
  • Apr 23, 2015 7:19pm Apr 23, 2015 7:19pm
Quoting bogdan11
{quote} Sorry, what EA do you use for M1 Renko Charts ?
median renko
  • #1,305
  • Edited 4:23am Apr 24, 2015 3:32am | Edited 4:23am
Hi,

The MathTrader7 Renko Brick Builder v1.4 solves bugs ...

Look at Picture 1, I marked a EURUSD / M1 Price at 10:24.

Now the Renkos ( 5.0 pips / 50 Points )

Picture 2 shows the price on the MathTrader Renko Builder.

Picture 3 shows the price on another Renko Builder ( here is the bug, a reversal brick is missing. also other reversal bricks are missing ). As far as I know a lot of people use this Renko Builder in one or another version. This will be one of the reasons why Renko EA's are considered to be unreliable in backtesting.

FYI

First I have been confused what is right and what is wrong. But timeless is timless, not the M1 Chart is the source for the Renko Bricks, the ticks are the source for the Renko Bricks. So Math is right.

Math, could you please add an option for creating gap reversal bars ?

Best, V.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 202 KB
Click to Enlarge Name: 2.jpg Size: 180 KB
Click to Enlarge Name: 3.jpg Size: 175 KB
  • #1,306
  • Apr 24, 2015 4:11am Apr 24, 2015 4:11am
Quoting verified
Hi, The MathTrader7 Renko Brick Builder v1.4 solves bugs ... Look at Picture 1, I marked a EURUSD / M1 Price at 10:24. Now the Renkos ( 5.0 pips / 50 Points ) Picture 2 Show the price on the MathTrader Renko Builder. Picture 3 Shows the price on another Renko Builder ( here is the bug, a reversal brick is missing. also other reversal bricks are missing ). As far as I know a lot of people use this Renko Builder on one or another version. This will be one of the reasons why Renko EA's are considered to be unreliable in backtesting. FYI First I have...
Hi Verified,
A very good analysis! Indeed, I observed that existing Renko builders are all inaccurately represent the past, and because of that, the traders who try to establish a strategy based on the past data, fail when they trade Renko charts in practice.

Quoting verified
Math, could you please add an option for creating gap reversal bars?
Sorry, I didn't get it. What do you mean by saying "Creating gap reversal bars?".

Best,
MathT7
Trading is the hardest way to make easy money...
  • #1,307
  • Apr 24, 2015 4:18am Apr 24, 2015 4:18am
Hi Math, you released the non-gap renko builder. what about an option, where the reversal price gap is back again ( new open != old close price on reversals ). this would not help with backtesting, but it would help with indicators, i guess ...

best, v.
  • #1,308
  • Apr 24, 2015 4:51am Apr 24, 2015 4:51am
Quoting verified
Hi Math, you released the non-gap renko builder. what about an option, where the reversal price gap is back again ( new open != old close price on reversals ). this would not help with backtesting, but it would help with indicators, i guess ... best, v.
I see your point, but for indicators for which the applied price is set to Close, non-gap and standard versions are both equivalent. It makes a difference when the applied price is set to Open, Median and Typical...
Trading is the hardest way to make easy money...
  • #1,309
  • Apr 24, 2015 4:58am Apr 24, 2015 4:58am
heikin ashi is one example ...

but no problem, if you don't want to do it. i can find a way

best, v.
  • #1,310
  • Apr 24, 2015 5:17am Apr 24, 2015 5:17am
Quoting verified
heikin ashi is one example ... but no problem, if you don't want to do it. i can find a way best, v.
That's a good example :-)
I may release a new version, but I'm busy with some other stuff these days...
Trading is the hardest way to make easy money...
  • #1,311
  • Edited 7:20am Apr 24, 2015 6:29am | Edited 7:20am
Hi,

I further investgated into this issue. Again, the Math Trader 7 Renko Builder v1.4 works correct, others may not.

Years ago a programmer with the name "Last Viking" decided to write a Renko Builder. This code was not intended to be perfect or to survive for a long time, he just wanted to add volume ( he did it with number of ticks / brick ) to the Renko Builders available at that time. And this code was not perfect.

However, the Last Viking Renko Builder survived somehow and some people, including myself worked on some versions to make it functional and available to the new MT4 platform, without digging into the brick building logic too much. I had a ( short ) hard time to read the code and restructured the whole thing beside fixing bugs. However, now I'll investigate. The versions survived are called "Renko mod", RenkoLiveCharts", "RMLiveCharts", etc.

I let the MathTrader 7 Renko Builder ( left ) and the Last Viking version I worked on as well ( right ) run in parallel. What I can see is that as long you are online and don't build the Renko Bricks from history data both work just fine ( right side of every Chart ). When Bricks from history data need to be created, the Last Viking code fails ( left side of the right Chart ). Compare the gray circles on both Charts. The left one ( MathTrader 7 ) is correct. This means that with the Last Viking code you may be fine on demo or live trading but you will fail on backtesting, where Bricks from history data are created all of the time.

I may work on this when I find the time. ATM the MetaTrader 7 Renko Builder v1.4 works for my needs.

Best, V.
Attached Image (click to enlarge)
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  • #1,312
  • Apr 24, 2015 2:19pm Apr 24, 2015 2:19pm
Hours later we get this. Both Builders worked correctly with online data only.
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Click to Enlarge Name: 12.jpg Size: 176 KB
  • #1,313
  • Edited 2:59pm Apr 24, 2015 2:30pm | Edited 2:59pm
After rebuilding the Bricks. Picture 1 is Mathtrader Renko Builder v1.4. Picture 2 Last Viking Builders family. Both show a different Chart now, Renko Bricks have been rebuilt from history data.

MathTrader 7 Brick Builder has added some Renko Bricks ( reversal and counter-reversal ) and we can find every price we had online as well.
Last Viking ... see yourself.

If there would be something like "more correct", I'd vote for the MathTrader 7 Renko Builder .
Attached Image(s) (click to enlarge)
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  • #1,314
  • Apr 24, 2015 3:53pm Apr 24, 2015 3:53pm
Quoting HungaryFX
Help me please code a EA based on this strategy. Look at the picture. If the prices 2 bricks are above the MA buy trades . If the prices 2 brick are below the MA sell trades . If the prices 1 bricks are above or below the MA exit open trade Adjustable settings: Lotsize, Stop loss size, MA method and size, Magic number, Breakeven, Thank you. {image}

I think it is a good idea. MA trend surfing + renko bricks filtration. Good basic.
OPINION?
  • #1,315
  • Edited 3:35am Apr 26, 2015 1:36am | Edited 3:35am
Talk is cheap, right ?

You remember the mess 2 days ago ? One Renko Builder can do almost everything, the other one almost nothing and not any of those can do everything.

Now, I used the time I had and made a new one. I need it in first place for more reliable backtesting, where my minimum expectation is to get the best data quality possible, compared to live data. It can work in Non-Gap mode and in normal mode so that you can use it with every EA you want. I tested it briefly ( as good as possible in this short time ) and release it to the public here and now. EA RenkoBuilder version is 1.02. It is a full working, not anyhow limited version. If you want, give it a try !

Please find the picture attached as well. It justifies that we see generated from the history what we did see with the MathTrader 7 Brick Builder EA online - btw. IMO a very good EA - ( my posting #1312, Picture 1, Non-Gap mode ). This is very important for the backtesting quality. I stick on it, Renko charts may not repaint. In case you use my RenkoBuilder EA, please let me know about bugs or useful enhancements.

This is what has been done so far:

//| Apr 25 2015 (eni) (v1.01):
//| - Initial version
//|
//| Apr 26 2015 (eni) (v1.02):
//| - Release version #1
//| - New UpdateChartWindow()
//| - New Brick calculation
//| - Non-Gap Renko Chart support
//| - Create standard TimeFrame Renko charts in different directory

The software is fully compliant to the latest MT4 release ( #property strict ).

Best, V.
Attached Image (click to enlarge)
Click to Enlarge Name: success.jpg Size: 158 KB
Attached File(s)
File Type: ex4 EA_RenkoBuilder.ex4   285 KB | 956 downloads
  • #1,316
  • Apr 26, 2015 7:03am Apr 26, 2015 7:03am
Well, for me version 2.99 with standard RenkoLiveChart v3.4 works ok. Orders are places properly. All I need is more money management, like partially close the order after 10 pips of profit. MathTrader7 do REALLY good job. It would be great to this new stuff into EA. I use stoch filter 95/5 also to avoid DD. Demo account is growing
  • #1,317
  • Apr 26, 2015 12:48pm Apr 26, 2015 12:48pm
I tried last week 2.99 version with nongaprenko in 9 pairs and very good results, I think: 84 trades, 182 pips gained, 76.5%win rate (26 wins, 8 losses). If I could take better results from the winning trades (just 7 of them hit my TP, and the rest, 19, finalized in breakeven) it will be perfect.
This week I will try in one demo with the same settings, and in another demo I will try introducing a TS, to see if I can take better results.
  • #1,318
  • Apr 26, 2015 12:56pm Apr 26, 2015 12:56pm
Quoting batir
I tried last week 2.99 version with nongaprenko in 9 pairs and very good results, I think: 84 trades, 182 pips gained, 76.5%win rate (26 wins, 8 losses). If I could take better results from the winning trades (just 7 of them hit my TP, and the rest, 19, finalized in breakeven) it will be perfect. This week I will try in one demo with the same settings, and in another demo I will try introducing a TS, to see if I can take better results.
Good job!
Could you please tell us which pairs and input settings did you use for that back test? I'm running a few instances of the EA with different settings on my VPS. You're settings and pairs would help me to compare them with mine.
Trading is the hardest way to make easy money...
  • #1,319
  • Apr 27, 2015 1:22am Apr 27, 2015 1:22am
Quoting MathTrader7
{quote} Good job! Could you please tell us which pairs and input settings did you use for that back test? I'm running a few instances of the EA with different settings on my VPS. You're settings and pairs would help me to compare them with mine.
Pairs:
EUR/USD
USD/CHF
GBP/USD
USD/CAD
GBP/JPY
AUD/USD
NZD/USD
USD/JPY
EUR/GBP
Settings:
Attached Image (click to enlarge)
Click to Enlarge Name: Nueva imagen (5).jpg Size: 121 KB
  • #1,320
  • Apr 27, 2015 4:09am Apr 27, 2015 4:09am
Quoting batir
{quote} Pairs: EUR/USD USD/CHF GBP/USD USD/CAD GBP/JPY AUD/USD NZD/USD USD/JPY EUR/GBP Settings: {image}
please, which the renko bricks size That you use?
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