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Lets Automate a Simple Renko Strategy!

  • #1,401
  • May 5, 2015 11:10pm May 5, 2015 11:10pm
Hi All - been reading for a few days and running MT 7 codes. I had a look on Youtube and found an interesting clip. Maybe many others have also but this looks so easy to automate if any coders like to give it a look. See
Inserted Video

Cheers.
  • #1,402
  • May 6, 2015 3:40am May 6, 2015 3:40am
@all

I would appreciate that in this thread we concentrate on discussion of the automation of the strategie of the thread opener shreyash.
Please do not hijack this thread for your own purposes.
If your idea is so good and so cool please open your own thread.

All contributions to this strategy and EA that automate them and there outcome (results, setfiles, pairs etc.) are welcome.

I for myself run MathTrader7 EA V3.3 on three demo accounts. On two accounts I am testing different ways of creating Renko bars (from 1h-chart with 10 pips and from 1h-chart with individuell length for each pair). On one account I use standard 10 pips bars. MT7 settings are almost default. For Renko bars I use MathTrader non-gap Renko EA.

All is up, running and working.

FJ
  • #1,403
  • Edited 5:14am May 6, 2015 4:53am | Edited 5:14am
Hi MathTrader7,
Very nice EA. I am playing around with the settings. Just a question and request.
1. Which version has stoch filter? The one I downloaded only have MA filter.
2. Is there any reason why fast MA can't be set below 3? I get no trades when set on 1 or 2
3. Can you add RSI filter please? Eg. RSI below 60 open buy and RSI above 40 open sell. Just extra filter to avoid bad trades.

Thanks
  • #1,404
  • May 6, 2015 4:56am May 6, 2015 4:56am
Quoting imifx
{quote} Check or Un-Check??
I un-checked offline chart. Sorry for the late response, i did not see your post.
Best, Josh
  • #1,405
  • May 6, 2015 6:03am May 6, 2015 6:03am
@All - regarding the video I posted above. 1 I have no commercial interest. 2. It conforms precisely to one of the lines of thought of the OP but the video has no external filters such as an MA. added. With no filters other than brick count it is shown in the video that a decent return was made just by that brick count "filter" alone.

My understanding of any thread is that one pursues any relevant technique in order to find what works most effectively. The video appears to succeed rather well and I would expect we would agree that we want to find a workable effective method.

In the pursuit of the OP's objectives it is quite possible we will find an even better approach so please lets not have posters approaching this with eyes wide shut.
  • #1,406
  • May 6, 2015 3:13pm May 6, 2015 3:13pm
Quoting verified
Renko Builder v1.04 - optional update Hi, here is the latest version v1.04 of my Renko Builder. If you run v1.03 already, there is no need to update. The changes applied may be handy though. Change Log: //| //| Apr 25 2015 (eni) (v1.01): //| - Initial version //| //| Apr 26 2015 (eni) (v1.02): //| - Release Version #1 //| - New UpdateChartWindow() //| - New Renko Brick calculation ( online ) //| - Non-Gap Renko Chart support //| - Create standard TimeFrame Renko Charts in different directory //| - New Maximum Bars back in Source Chart //| //| Apr...
Hi Verified,

I seem to be having difficulties with the Renko Builder. When applying this EA to the M1 chart it shows as usual the name including the smily face in the upper right corner, however both are disappearing after approx 3 seconds after having confirmed the initial EA settings.

Are there some hints on how to overcome this issue (MT4 build 765)?

Thanks in advance!
  • #1,407
  • May 6, 2015 5:25pm May 6, 2015 5:25pm
Hi ive downloaded the recko indicator in post 1 and loaded it on the charts but nothing shows up. Do i need to do something different? Your help would be much appreciated
  • #1,408
  • Edited 11:42am May 7, 2015 6:52am | Edited 11:42am
Quoting Tkr
{quote} Hi Verified, I seem to be having difficulties with the Renko Builder. When applying this EA to the M1 chart it shows as usual the name including the smily face in the upper right corner, however both are disappearing after approx 3 seconds after having confirmed the initial EA settings. Are there some hints on how to overcome this issue (MT4 build 765)? Thanks in advance!
Hi Tkr,

I run the same MT4 build and I have no issues. Could you please use the MathTrader 7 EA ( non-gap, v1.4 ) and check if the problem persists ?

Best, V.
  • #1,409
  • Edited 8:00am May 7, 2015 7:03am | Edited 8:00am
Quoting Forexjeanie
@all I would appreciate that in this thread we concentrate on discussion of the automation of the strategie of the thread opener shreyash. Please do not hijack this thread for your own purposes. If your idea is so good and so cool please open your own thread. All contributions to this strategy and EA that automate them and there outcome (results, setfiles, pairs etc.) are welcome. I for myself run MathTrader7 EA V3.3 on three demo accounts. On two accounts I am testing different ways of creating Renko bars (from 1h-chart with 10 pips and from 1h-chart...
Hi Jeanie,

It's nice that you tell everyone what you would appreciate happening and I don't agree to your opinion. This thread is open for ANY strategy ( read the thread title ) and because of this it is interesting. It does not make any difference if you create your ONLINE Renko Bricks from 1 minute, 1 hour or weekly charts. A tick is a tick, a price change a price change and you will see this on your Renko Chart. It only makes a difference when you look at the history because it is created from history bars, where a lot less information is stored in a 1 hour bar compared to 60 1 minute bars. And this missing information is estimated by Renko Builder software. Estimated. That's why Renko Charts, built from higher timeframe history are looking so smooth. This is also the reason why some people think Renko Builders "repaint". No, good Renko Builders don't "repaint", they just only have 1 minute data ( in best case ) on the most granular timeframe which is not good enough to recalculate the chart as it has been built live from tick data.

Backtesting. A developer needs to backtest. He / she cannot develop any solution based on 1-10 ( forward ) test cases a day. Impossible. Have you ever backtested the most recent MathTrader 7 EA in strategy tester ? What have been the results ? Maybe we have a reason for further investigations.

The market will not turn to our favor because we wish. It needs a lot of investigation and development efforts to grind away the pips we are looking for. I'm not saying it can be done, I'm not saying it cannot be done. I am open to this. You are looking for as well ? Then why you restrict ?

Best, V.
  • #1,410
  • Edited 11:41am May 7, 2015 8:48am | Edited 11:41am
Quoting AltosTrader
Hi All - been reading for a few days and running MT 7 codes. I had a look on Youtube and found an interesting clip. Maybe many others have also but this looks so easy to automate if any coders like to give it a look. See https://www.youtube.com/watch?v=3vRxZcAsZOs Cheers.
Hi, applied this to EURUSD and it does not work, it's the most basic and popular Renko 'strategy' and I think, almost everyone who develops / developed an EA for Renkos did implement it already. Long story short: It gives you a 30 - 35% winning rate. However, it's good as a baseline for comparing how effective the entries in your Renko EA really are.

Best, V.
  • #1,411
  • May 7, 2015 10:13am May 7, 2015 10:13am
Greetings fellows
I'm confused a bit, can any tell me what is the difference between non gap EA and a normal EA.
Which is used to create Renko bars
Every Good Things Starts With "Bismillah"
  • #1,412
  • May 7, 2015 10:44am May 7, 2015 10:44am
Quoting verified
{quote} Hi Jeanie, It's nice that you tell everyone what you would appreciate happening and I don't agree to your opinion. This thread is open for ANY strategy ( read the thread title ) and because of this it is interesting. .
Hi Verified, I see Your point and a agree with You in some degree. I have no problem if things evolve and develop in a thread. Otherwise things would all be done after post number 1. My point was hijacking threads for own purposes. You will find many threads here at FF that got hijacked over and over again. You cannot follow them if You jump in later and those threads are killed.

Quoting verified
{quote}It does not make any difference if you create your ONLINE Renko Bricks from 1 minute, 1 hour or weekly charts. A tick is a tick, a price change a price change and you will see this on your Renko Chart. It only makes a difference when you look at the history because it is created from history bars, where a lot less information is stored in a 1 hour bar compared to 60 1 minute bars. And this missing information is estimated by Renko Builder software.
Yes, I know that. I have set up my accounts that way because I wanted to create Renko bars with different brick size for each pair. I wanted the brick size to be of the size of 1 hour or 1 minute average candle length of last week. I am not finished with that yet. It is just one step half way.

I would have expected the same results in forward test at 10 pips brick size. But in fact they are not and I have not found out why. I suppose it has something to do with the starting point but have not investigated this in detail.

I did not run any backtest of MathTrader7 EA. I only do forward testing.

Another point:
I dont believe this strategy will pay off with simply looking at two MAs. Such strategies dont really do on candle charts so why should they work on Renko? I won on bigger moves but lost on small whipshaws (ie GBPJPY). I think we need to filter out narrow ranges. I read the NASAP range filter should work but I dont have the ex- or mq4-file so can not test this.

FJ
  • #1,413
  • May 7, 2015 3:43pm May 7, 2015 3:43pm
Quoting verified
{quote} Hi Tkr, I run the same MT4 build and I have no issues. Could you please use the MathTrader 7 EA ( non-gap, v1.4 ) and check if the problem persists ? Best, V.
Hi Verified,

Thanks for your promt reply.
Since the suggested EA did not work either I have deinstalled MT4 and reinstalled it. Now everything works.

Best,
Tkr
  • #1,414
  • Edited 5:58am May 8, 2015 4:09am | Edited 5:58am
Quoting Forexjeanie
{quote}Another point: I dont believe this strategy will pay off with simply looking at two MAs. Such strategies dont really do on candle charts so why should they work on Renko? I won on bigger moves but lost on small whipshaws (ie GBPJPY). I think we need to filter out narrow ranges. I read the NASAP range filter should work but I dont have the ex- or mq4-file so can not test this. FJ
Hi Jeanie

I don't believe that the strategy of the OP will pay off as well. Iv'e tried quite some variations of it, using MA(s), using Ichimoku, using Trend filters and basic indicators. Related to entries, it did not make a big difference. Once you have coded the core functions of an EA ( more than 2000 source lines in my case ), it's easy to play around with it .

However, we and especially me can thank MathTrader 7, his idea about non-gap Renko Charts is invaluable and makes more reliable backtesting ( = more effective development ) possible to me. There might be room for misunderstandings, I did not code my own Renko Builder because I don't trust his version. It's just fundamental that I want the source code of all components I am working with which is not possible in this case.

What I'm trying to do now is to use a subset of Mihailo's THV 5 system according to the experience of nasap. There are a few threads in german language about the setup as well ( not on ff forum ), fortunately I can read this and learn more about it. While we will not get his ( her ? ) range filter, there is enough left on the table to work with. I don't plan to use trix. It might be worth a try to automate.

ATM I'm testing a clone ( or the source ? - I don't know ) of the Pallada VQI indicator which I have enhanced for MT4 600+ && improved functionality, e.g. alerting and offline charts, ... - so far so good. The SS2009_B is there for different reasons.

Best, V.
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  • #1,415
  • May 8, 2015 5:38am May 8, 2015 5:38am
Quoting dafa
I changed it back to renko_mod and today it trades without troubles. Good entry points and nice profit again..
Salamwalaikum (Greetings) Bro
after changing back to renko mod , which ea version u r using , can u pleas update me bro. with your settings

Regards
Shaik
Every Good Things Starts With "Bismillah"
  • #1,416
  • May 8, 2015 5:43am May 8, 2015 5:43am
Hi,

If you go back in the thread you will find when MathTrader 7 switched to non-gap Renkos. You cannot run new releases of the MathTrader 7 EA with the old Renko mod. If you don't want to read, use version 1.6, this works for sure.

Best, V.
  • #1,417
  • May 8, 2015 9:31am May 8, 2015 9:31am
Quoting verified
{quote} Hi Jeanie I don't believe that the strategy of the OP will pay off as well. Iv'e tried quite some variations of it, using MA(s), using Ichimoku, using Trend filters and basic indicators. Related to entries, it did not make a big difference. Once you have coded the core functions of an EA ( more than 2000 source lines in my case ), it's easy to play around with it . However, we and especially me can thank MathTrader 7, his idea about non-gap Renko Charts is invaluable and makes more reliable backtesting ( = more effective development ) possible...
Hi Verified, you mentioned that you use trend filters. Could you tell which indicator you use for that?
Thanks!
  • #1,418
  • May 8, 2015 12:27pm May 8, 2015 12:27pm
MathTrader, can you make your EA tradeable on pair as "EURUSD.."?
EURUSD is working great, but my broker have EURUSD..
Thank you.
  • #1,419
  • May 8, 2015 2:02pm May 8, 2015 2:02pm
Quoting bientos
{quote} Hi Verified, you mentioned that you use trend filters. Could you tell which indicator you use for that? Thanks!
Hi, I have been using the Nihilist Ultratrend Indicator with its 2 corresponding Filter indicators, Trend Filter 1 and Trend Filter 2. You can find easily on ff.

Best, V.
  • #1,420
  • May 8, 2015 2:43pm May 8, 2015 2:43pm
Quoting verified
{quote} Hi, I have been using the Nihilist Ultratrend Indicator with its 2 corresponding Filter indicators, Trend Filter 1 and Trend Filter 2. You can find easily on ff. Best, V.
Thanks!
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