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Lets Automate a Simple Renko Strategy!

  • #1,421
  • May 11, 2015 7:59am May 11, 2015 7:59am
Hi Guys,
I have noticed, that the renko charts depend on the timeframe. If I attach the renko EA to a 1 Minute chart, for example, I get a more precised chart than on a 1h chart.
But why is that so?
Thanks for your help.
  • #1,422
  • May 12, 2015 4:13am May 12, 2015 4:13am
I need full resources of my VPS for data collection and test of my Speedometer EA. So, I shut down the Renko EA and here is the report:
Attached Image (click to enlarge)
Click to Enlarge Name: report_RenkoEA299.png Size: 112 KB
Trading is the hardest way to make easy money...
  • #1,423
  • May 12, 2015 4:18am May 12, 2015 4:18am
Your EA is ok, but we need one more function to not to take trades when price is abova MA certain amount of pips, ie. 60 pips is enough to get the market some breathe. It should help a lot to filter bad trades.
  • #1,424
  • May 12, 2015 4:34am May 12, 2015 4:34am
Quoting TimeRider
Hi Guys, I have noticed, that the renko charts depend on the timeframe. If I attach the renko EA to a 1 Minute chart, for example, I get a more precised chart than on a 1h chart. But why is that so? Thanks for your help.
Hi TimeRider,

should not be like this. History yes, live data no. Why don't you just attach to 1 Minute Charts ? You can open quite some M1 EURUSD charts and assign different offline TimeFrames and Brick Sizes to each of them, if you need multiple instances.

Best, V.
  • #1,425
  • May 12, 2015 5:14am May 12, 2015 5:14am
Quoting TimeRider
Hi Guys, I have noticed, that the renko charts depend on the timeframe. If I attach the renko EA to a 1 Minute chart, for example, I get a more precised chart than on a 1h chart. But why is that so? Thanks for your help.
Indeed, when you create a new chart with renko bars it seems that the one from 1h data seems much more smooze. But this is just because of the missing data in the 1h-candles. As soon as you watch new renko bars built from live data you will see that there is no difference from there on.

FJ
  • #1,426
  • Edited 5:58am May 12, 2015 5:41am | Edited 5:58am
Quoting MathTrader7
I need full resources of my VPS for data collection and test of my Speedometer EA. So, I shut down the Renko EA and here is the report: {image}
Hi MathTrader7, thank you for sharing the results and for programming your EA. Personally I have never really used it but I backtested it from time to time to get results from a second EA so that I can compare with what I'm doing.

I changed my mind - a lot - when it comes to trading using an EA. Now I still think someone can be successful with an EA, but if it should be developed in a short time this EA must be a scalping EA ( not depending on MA's, SR / Fibo levels or on any kind of trend ). Only the move counts. It also must have an excellent exit. Just my opinion.

There are so much more things a trader sees in a blink of an eye where the computer has no clue about. Sure, this can be programmed to a certain extend but it would need months of development and testing, not weeks. However, I have learned a lot and I have learned from you as well.

I hope you will further support the community.

Keep Safe and Good Luck,
Verified
  • #1,427
  • May 12, 2015 5:53am May 12, 2015 5:53am
Quoting verified
Hi MathTrader7, thank you for sharing the results and for programming your EA. However, I have learned a lot and I have learned from you as well. I hope you will further support the community.
Hello Verified! Thanks for your nice words :-) I'm glad that I could a little contribute to this community of traders.

Quoting verified
There are so much more things a trader sees in a blink of an eye where the computer has no clue about. Sure, this can be programmed to a certain extend but it would need months of development and testing, not weeks.
I fully agree with this statement. It is not trivial to mimic human being ability of perception and action by a computer program. All machine learning techniques try to do so, but their applications are very limited.

Good luck!
Math
Trading is the hardest way to make easy money...
  • #1,428
  • May 12, 2015 6:19am May 12, 2015 6:19am
Hello Math,

what about scalping Renko EA? have you been still working on it?

Thanks
  • #1,429
  • May 12, 2015 6:32am May 12, 2015 6:32am
Quoting dafa
Hello Math, what about scalping Renko EA? have you been still working on it? Thanks
Hello Dafa, Renko Scalping EA is under development. I'm examining 2, 2.5, 3 and 3.5 pips brick sizes with the strategy....
Trading is the hardest way to make easy money...
  • #1,430
  • May 12, 2015 6:37am May 12, 2015 6:37am
Quoting MathTrader7
{quote} Hello Dafa, Renko Scalping EA is under development. I'm examining 2, 2.5, 3 and 3.5 pips brick sizes with the strategy....
You will share it on ff once it's ready ? I am very interested ...
  • #1,431
  • May 12, 2015 7:04am May 12, 2015 7:04am
Quoting verified
{quote} You will share it on ff once it's ready ? I am very interested ...
I may share it
Trading is the hardest way to make easy money...
  • #1,432
  • May 12, 2015 7:18am May 12, 2015 7:18am
Quoting MathTrader7
{quote} I may share it
I understand. As you know, there are technical methods to make sure that only people can take advantage of your EA(s) when you agree to it. I did this in a very early stage already even when I did not share my EA with anybody up to now . The point is I could share. Today. This is the right I want to have for what I create.

Best as always, V.
  • #1,433
  • May 12, 2015 7:43am May 12, 2015 7:43am
Quoting MathTrader7
{quote} Hello Dafa, Renko Scalping EA is under development. I'm examining 2, 2.5, 3 and 3.5 pips brick sizes with the strategy....
And strategy is similar as original strategy in this thread?
  • #1,434
  • May 12, 2015 7:50am May 12, 2015 7:50am
Quoting dafa
{quote} And strategy is similar as original strategy in this thread?
The strategy is different than the original strategy in this thread...
Trading is the hardest way to make easy money...
  • #1,435
  • May 12, 2015 9:16am May 12, 2015 9:16am
Quoting verified
{quote} Hi TimeRider, should not be like this. History yes, live data no. Why don't you just attach to 1 Minute Charts ? You can open quite some M1 EURUSD charts and assign different offline TimeFrames and Brick Sizes to each of them, if you need multiple instances. Best, V.
Quoting Forexjeanie
{quote} Indeed, when you create a new chart with renko bars it seems that the one from 1h data seems much more smooze. But this is just because of the missing data in the 1h-candles. As soon as you watch new renko bars built from live data you will see that there is no difference from there on. FJ
Thanks for your answers. I know that the live candles are drawn correctly and only the history is smoothed. But what if we just search for a way to create the live chart like the history chart, because the history chart is not false, i just doesn`t draws all the candles. But the highs and lows are reached by the "real" price.
  • #1,436
  • Edited 6:52pm May 12, 2015 5:51pm | Edited 6:52pm
Quoting TimeRider
{quote} {quote} Thanks for your answers. I know that the live candles are drawn correctly and only the history is smoothed. But what if we just search for a way to create the live chart like the history chart, because the history chart is not false, i just doesn`t draws all the candles. But the highs and lows are reached by the "real" price.
To do this, someone needs to reintroduce Time in Renko Charts, which then is no more Renko Chart at all. Plus, lets say for 1 Hour Chars you would see 1 bigger candle until the current 1 hour candle is finished and then ( in case the price moved enough ) all Renko Bricks of the last hour would be plotted. Only at the end of the hour we know the high, low, open and close prices in this example. Now we could ignore all real movements happened in this hour and just draw a straight line connecting the open and close prices, which smoothes the chart. This way you create "live" charts 1:1 like the history but in fact you just continue to create history views for live data. Replace the 1 hour TimeFrame of this example with any TimeFrame you like. I don't think this would work in a way people or robots could use to trade.

IMO, the solution is just the other way round. When we are online we get tick data from our Broker. This tick data is not stored in our Time Charts ( M1 - MN ). To get accurate Renko bricks for live data and history we need to store the tick data and work with this as a base for the Renko Charts, which solves the history issue and you would need to be online 5 x 24 so that you continue to collect live tick data. The better way for doing so would be Meta Trader 4 support for tick data.

Best, V.
  • #1,437
  • May 12, 2015 6:50pm May 12, 2015 6:50pm
Here is Version 3.35 of the EA that fixes a bug in the fixed trailing stop.
Attached File(s)
File Type: ex4 MathTrader7_RenkoEA.ex4   145 KB | 2,459 downloads
Trading is the hardest way to make easy money...
  • #1,438
  • May 12, 2015 7:46pm May 12, 2015 7:46pm
Quoting dafa
{quote} And strategy is similar as original strategy in this thread?
Here is a backtest of my Renko Scalper EA:
Attached Image (click to enlarge)
Click to Enlarge Name: RenkoScalperEA.png Size: 34 KB
Trading is the hardest way to make easy money...
  • #1,439
  • Edited 8:31pm May 12, 2015 7:53pm | Edited 8:31pm
Quoting MathTrader7
{quote} Here is a backtest of my Renko Scalper EA: {image}
This looks like a nice result. However, the profit factor is not that great ( but I guess this is just normal when scalping ) and it's not easy to correlate with anything because ATM you don't share what it does .

Best, V.
  • #1,440
  • May 12, 2015 8:06pm May 12, 2015 8:06pm
Quoting MathTrader7
{quote} Here is a backtest of my Renko Scalper EA: {image}
hi mathtrader

it seems a better win ratio but not high RR method to me.

maybe you can just share the original idea behind the EA, so we can learn something from it

thanks
patience is a virtue
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