Need help for EA on a 2 min Renko chart | Forex Factory

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Need help for EA on a 2 min Renko chart

  • #1
  • First Post: Sep 22, 2015 5:35am Sep 22, 2015 5:35am
Moderators....I have no idea if this is the place for my question. If not, please feel free to drop it in the right place!

Is it possible to use an expert advisor on a 2 min Renko chart?

I have tried to use one, but it never works.

Many thanks.
So make sure it's an exciting one, 'cos it's the only one you get!
  • #2
  • Edited Sep 23, 2015 4:03am Sep 22, 2015 3:55pm | Edited Sep 23, 2015 4:03am
Quoting ComoxBluejay
Is it possible to use an expert advisor on a 2 min Renko chart? I have tried to use one, but it never works.
Assuming you're referring to MT4, yes, it's possible, but the EA would need to be programmed in such a way that it 'understands' Renko bars. Most programmers simply design their EAs to run on MT4's native bar/candlestick charts, i.e. timeframes M1, M5, M15, etc thru to monthly.
  • #3
  • Sep 29, 2015 8:02am Sep 29, 2015 8:02am
Quoting hanover
{quote} Assuming you're referring to MT4, yes, it's possible, but the EA would need to be programmed in such a way that it 'understands' Renko bars. Most programmers simply design their EAs to run on MT4's native bar/candlestick charts, i.e. timeframes M1, M5, M15, etc thru to monthly.
Thanks Hanover. I'm back & looking for the contents of my latest post. First, let me apologise for my less than kind remarks some time ago. Uncalled for, rude, & unhelpful. Please forget it.
So make sure it's an exciting one, 'cos it's the only one you get!
  • #4
  • Sep 30, 2015 2:16am Sep 30, 2015 2:16am
Quoting ComoxBluejay
{quote} Thanks Hanover. I'm back & looking for the contents of my latest post. First, let me apologise for my less than kind remarks some time ago. Uncalled for, rude, & unhelpful. Please forget it.
No problem. I don't actually recall what happened now, there are so many intense exchanges in forums like this one. Anyway, if something I said caused a problem, I apologize also.
  • #5
  • Edited 5:38pm Oct 10, 2015 3:21pm | Edited 5:38pm
Quoting ComoxBluejay
Is it possible to use an expert advisor on a 2 min Renko chart? I have tried to use one, but it never works. Many thanks.
CB, this is in reply to your message asking whether it's possible for an EA to work on an offline Renko chart.

I've never used offline charts, hence I can't say this with 100% certainty, but I believe it should be possible for the following reason. Last year I worked with a couple of traders who had developed a system using range bars (similar to Renko, if I understand correctly). I won't mention names or products here as it might break FF rules, as it was part of a commercial venture. Anyway, their programmer had written an EA which created a synthetic range bar chart, which updated in real time, and also indicators that plotted moving averages, and buy and sell arrows, by attaching them to the range bar chart. Hence I assume that if it's possible for indicators to run on an offline chart, then a correctly programmed EA would do so likewise.

This post will bump your thread, so hopefully somebody else will see it and be able to answer your question with absolute certainty.
  • #6
  • Oct 10, 2015 3:39pm Oct 10, 2015 3:39pm
Quoting ComoxBluejay
Is it possible to use an expert advisor on a 2 min Renko chart?
Yes it is possible. You can find an EA working on Renko charts here.
Trading is the hardest way to make easy money...
  • #7
  • Oct 10, 2015 4:19pm Oct 10, 2015 4:19pm
"2 min Renko chart" nice one
  • #8
  • Oct 19, 2015 7:03pm Oct 19, 2015 7:03pm
Quoting hanover
{quote} CB, this is in reply to your message asking whether it's possible for an EA to work on an offline Renko chart. I've never used offline charts, hence I can't say this with 100% certainty, but I believe it should be possible for the following reason. Last year I worked with a couple of traders who had developed a system using range bars (similar to Renko, if I understand correctly). I won't mention names or products here as it might break FF rules, as it was part of a commercial venture. Anyway, their programmer had written an EA which created...
Thanks Hanover. Appreciate the reply. I still cannot get my EA to trade on an off line chart. I have since been told, & I'm sure this will mean more to you than it does to me!. I quote as near as I can. "Expert traders cannot work on off line charts, because brokers will not recognize the part of the order stating pair & time. For instance...EURUSD m2 Would not be understood. If that sounds Chinese to you, we are both using the same language!
So make sure it's an exciting one, 'cos it's the only one you get!
  • #9
  • Oct 19, 2015 8:09pm Oct 19, 2015 8:09pm
By offline chart do you mean an MT4 indicator displayed in a separate panel, not the standard chart panel?

If so then you would need an EA to be written incorporating the iCustom function (see http://docs.mql4.com/indicators/icustom) that then calls data from the Renko indicator assuming the indicator is written in this way. The Renko Chart you have is likely an indicator and thus you cannot perform market executions from that program.
  • #10
  • Edited 11:29am Oct 20, 2015 3:20am | Edited 11:29am
Quoting ComoxBluejay
Expert traders cannot work on off line charts, because brokers will not recognize the part of the order stating pair & time. For instance...EURUSD m2
I think what it's saying is that the EA can't be programmed to recognise either the currency symbol or the timeframe (in programming terms, Symbol() and Period()). Timeframe is of course meaningless with Renko because each bar is determined by price, not time. But my best guess is that it's possible to write an EA, provided that there's no need for the EA to retrieve either the currency symbol or timeframe.

IMHO MathTrader7 is a very smart guy --- if he has written an EA that runs on an offline Renko chart (see post #6), then I believe it's safe to say that it can be done.
  • #11
  • Last Post: Dec 9, 2015 5:06am Dec 9, 2015 5:06am
I, too, am having a problem running an EA on an offline chart. The EA is a very simple test EA - all it does is count ticks and display the tick count on the chart using the Comment command. It won't work! It's fine on a normal m1 chart, but if I create a 2min offline chart using the built-in PeriodConvertor script, it creates the 2min chart fine, the chart is updated fine, the EA appears to load fine (smiley face), DLLs allowed, EAs allowed, but nothing - no display, nothing!

I'm sure this is a recent problem, as I'm sure (but could not swear to it) that I have had an EA working on an off-line chart ok before.

Anybody out there can help, please?
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