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Lets Automate a Simple Renko Strategy!

  • #1,601
  • Oct 11, 2015 3:04pm Oct 11, 2015 3:04pm
Quoting MathTrader7
{quote} Maybe I open a new thread for this... For the moment, it might be helpful for those who are curious that I use BB (moving average+standard deviation) only for trailing stop (identifying an exit point not an entry point).
HI MT7,

I think you should definitely consider opening a new thread since your strategies are quite effective and social exposure/feedback will help in mitigating any drawbacks that your system may have.
  • #1,602
  • Oct 11, 2015 3:51pm Oct 11, 2015 3:51pm
Guys, the Holy Grail is almost here. All you need to do is set the renko charts to the pair, where the spread is the lowest, ie. EURUSD and make an EA with some conditions...

Open a trade after every one brick. No SL, TP fixed - 10 pips (1 brick).

When EA is opening a trade checks if any other trades are not running. If so, opens bigger order as a hedge, ie. 0.01, 0.03, 0.05, 0.07 lots etc...
The money management depends on your account.

It would be great to make such EA. Every trade will be the winner. This is the real Holy grail :-)
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  • #1,603
  • Oct 11, 2015 4:22pm Oct 11, 2015 4:22pm
Quoting nobbie
Guys, the Holy Grail is almost here. All you need to do is set the renko charts to the pair, where the spread is the lowest, ie. EURUSD and make an EA with some conditions... Open a trade after every one brick. No SL, TP fixed - 10 pips (1 brick). When EA is opening a trade checks if any other trades are not running. If so, opens bigger order as a hedge, ie. 0.01, 0.03, 0.05, 0.07 lots etc... The money management depends on your account. It would be great to make such EA. Every trade will be the winner. This is the real Holy grail :-) {image}
I can make you sure, that this is not holy grail, this is certain Margin Call
  • #1,604
  • Edited 4:59pm Oct 11, 2015 4:47pm | Edited 4:59pm
Look at the past, it will never be a margin call :-) All you need is to play 1% of your account. EA is needed to do it, I don't want to sit all the day to make some bucks, but the machine can do it.
  • #1,605
  • Edited 5:42pm Oct 11, 2015 5:22pm | Edited 5:42pm
Quoting nobbie
Look at the past, it will never be a margin call :-) All you need is to play 1% of your account. EA is needed to do it, I don't want to sit all the day to make some bucks, but the machine can do it.
We are two, man . We have developed about 30 EA versions during last 2 months on Renko charts, and no of them is consistently profitable. The issue makes always 2 things - negative RRR and multiplying. You will never get success if you use both or one of them.

I am writing this to you because I want to share you something, that I already tested... But I am not sure if I understood everything about your idea. Can you write there every detail about managing the positions, where are the stop orders, TP/SL and all about that ? Because if it is something different against that I understood from your post and it is really profitable, I am able to code it.

Edit: And little advice - you can switch off wicks, it is useless because missing tick data and wicks are repainted

Edit 2: I think I understand now, I must read you screen for 10 times. Man, I think that is very good idea, so sorry for my first negative reaction, let me do some bTests during tomorrow (because spreads and so on) and I will write you PM or there, if it is so bulletproof as it looks. It will not be problem to code it, actually it is one of those primitive codes and we (me and my friend) have some very similiar codes already written.
  • #1,606
  • Oct 12, 2015 6:57am Oct 12, 2015 6:57am
Quoting nobbie
Guys, the Holy Grail is almost here. All you need to do is set the renko charts to the pair, where the spread is the lowest, ie. EURUSD and make an EA with some conditions... Open a trade after every one brick. No SL, TP fixed - 10 pips (1 brick). When EA is opening a trade checks if any other trades are not running. If so, opens bigger order as a hedge, ie. 0.01, 0.03, 0.05, 0.07 lots etc... The money management depends on your account. It would be great to make such EA. Every trade will be the winner. This is the real Holy grail :-) {image}

I think the idea is flawed. Here is an example, with entry prices

Trade 1= 1.1000 UpBar Enter long, 1 lot
Trade 2= 1.0980 DnBar Enter Short 3 lots
Trade 3= 1.1000 UpBar Enter Long 5 lots
Trade 4= 1.0980 DnBar Enter Short 7 lots
Trade 5= 1.1000 UpBar Enter Long 9 lots
1.1010 UpBar Exit all

Results without the spread:
Trade 1= +10 pips
Trade 2= -30 pips * 3 lots = -90 pips
Trade 3= +10 pips * 5 lots = +50 pips
Trade 4= -30 pips * 7 lots = -210 pips
Trade 5= +10 * 9 lots = +90 pips
Sum of all trade outcomes = -150 pips
  • #1,607
  • Oct 12, 2015 9:08am Oct 12, 2015 9:08am
Quoting GoldTheHun
{quote} I think the idea is flawed. Here is an example, with entry prices Trade 1= 1.1000 UpBar Enter long, 1 lot Trade 2= 1.0980 DnBar Enter Short 3 lots Trade 3= 1.1000 UpBar Enter Long 5 lots Trade 4= 1.0980 DnBar Enter Short 7 lots Trade 5= 1.1000 UpBar Enter Long 9 lots 1.1010 UpBar Exit all Results without the spread: Trade 1= +10 pips Trade 2= -30 pips * 3 lots = -90 pips Trade 3= +10 pips * 5 lots = +50 pips Trade 4= -30 pips * 7 lots = -210 pips Trade 5= +10 * 9 lots = +90 pips Sum of all trade outcomes = -150 pips
Yes, that is exactly what I found out before few minutes during bTest. If you want join a multiplying to this strategy it will be far more than 3x, 5x, 7x and think about available margins, this is not strategy for small accounts.

If I am right the multiplying will be:
1x
3x
9x
27x
81x
243x
and continue...

So account needed to open these trades:
100€
300€
900€
2700€
8100€
24300€
and continue...

It is possible to trade it, but you need huge account for trade minimal positions. I have discovered this style a month ago, it is only little bit different, but concept is same and you will need still big account to feed it. And broker who will allow you trade hundreds or thousands lots.
  • #1,608
  • Oct 12, 2015 9:40am Oct 12, 2015 9:40am
Quoting Matomi
{quote} Yes, that is exactly what I found out before few minutes during bTest. If you want join a multiplying to this strategy it will be far more than 3x, 5x, 7x and think about available margins, this is not strategy for small accounts. If I am right the multiplying will be: 1x 3x 9x 27x 81x 243x and continue... So account needed to open these trades: 100 300 900 2700 8100 24300 and continue... It is possible to trade it, but you need huge account for trade minimal positions. I have discovered this style a month ago, it is only little bit...
That would be worst than 2x martingale.

The other alternative would be to let the trade run for few bars in same direction. I didn't do the actual calculation but this could be a solution to keep the sequence of 1, 3, 5, 7 of lots.
  • #1,609
  • Oct 12, 2015 10:08am Oct 12, 2015 10:08am
Quoting GoldTheHun
{quote} That would be worst than 2x martingale. The other alternative would be to let the trade run for few bars in same direction. I didn't do the actual calculation but this could be a solution to keep the sequence of 1, 3, 5, 7 of lots.
I agree, it is non-sense to trade this way. It is absolutelly anti SL style, but you need enormous big account to trade basic (smallest) lots... We have to aim on something which we can trade consistently with 1000-2000€ account.
  • #1,610
  • Oct 12, 2015 10:52am Oct 12, 2015 10:52am
Yes, I say about hedging. Great to talk to somobody bout this idea :-)

Well.. You are right but... why you want to trade lots... You have to trade 0.01 lots. You need 7-8 1 brick candles one after another to blow your account. The thing is, that it's up to you to have bigger account. You can run EA at specific days and hours to get it work. Just look at the history. 7-8 bricks I haven't seen it . You can try make ie. not 10 but 11 pips brick and look at the history.

I think this is not bad idea. You have to play micro lots to get it worked.
  • #1,611
  • Oct 12, 2015 11:45am Oct 12, 2015 11:45am
Quoting nobbie
Yes, I say about hedging. Great to talk to somobody bout this idea :-) Well.. You are right but... why you want to trade lots... You have to trade 0.01 lots. You need 7-8 1 brick candles one after another to blow your account. The thing is, that it's up to you to have bigger account. You can run EA at specific days and hours to get it work. Just look at the history. 7-8 bricks I haven't seen it . You can try make ie. not 10 but 11 pips brick and look at the history. I think this is not bad idea. You have to play micro lots to get it worked.
Just understand... it is still about huge account and small profits, even if you will trade microlots. And what about DAX ? There is no choice to trade it with smaller position than 1 lot.

Okey, find that specific days and specific hours to get it work. You must be seer. There will be always range and choppy bricks, does not matter which size of renko bricks do you use. Check more history man, EA is not about 1-2 days back, it is about 1-2 months back in chart to check only if it is possible to code it, than it is 1 month trading on Demo and maybe than on Live. If you have choppy on 10 pips bricks, you will switch to 5 pips brick "oh nice, there is no choppy", little bit scrolling and again you will find choppy bricks and again switch to another size of bricks... Man, seriously wake up, we do not trade history, we trade future and you can not predict on which size of renko bricks will be choppy or will not be. I can make you sure, on trend market will be profitable more easier Renko strategies than hedging, problem is always changing Trend-Choppy-Range market. I can make version which is able to run on 3 modes with automatic choosing (Trend mode, Choppy mode, Range mode), but it is still bullshit because you can not predict when trend/choppy/range starts end when ends.
  • #1,612
  • Oct 12, 2015 12:19pm Oct 12, 2015 12:19pm
Quoting nobbie
Guys, the Holy Grail is almost here. All you need to do is set the renko charts to the pair, where the spread is the lowest, ie. EURUSD and make an EA with some conditions... Open a trade after every one brick. No SL, TP fixed - 10 pips (1 brick). When EA is opening a trade checks if any other trades are not running. If so, opens bigger order as a hedge, ie. 0.01, 0.03, 0.05, 0.07 lots etc... The money management depends on your account. It would be great to make such EA. Every trade will be the winner. This is the real Holy grail :-) {image}
As others have said this doesn't work... We've done more analysis on the Renko charts than you can chuck a stick at.... These simple strategies, especially with a bit of MartinGale chucked in are an illusion and don't work.....
That said, Renko charts, correctly made with historic tick data, will show a profit on some pairs using certain brick sizes and a simple buy/ sell strategy. (ie buy/sell after two same colour bricks), but it's no indication of future performance and the return is not worth the risk. ...
A lion doesn't concern itself with the opinion of sheep.
  • #1,613
  • Oct 12, 2015 12:46pm Oct 12, 2015 12:46pm
I've searched the history already but I can make it once again. I haven't seen so choppy market on EU in busy hours as you say. 10 opposite bricks one after another have never happend, but I will check it again. Yes, you earn not much, but it should be stable cash. Your account will be growing slowly but it will.

You can also try do it in the other way, start with big lots, finish with small ones: 0.01, 0.03, 0.06, 0.12, 0.24, 0.5 and then 0.6, 0.7, 0.8 because these situations will be radically rare. You will lose some money, but will make it back is some time. You need to open orders in busy hours, except monday. Let me check history one more time tonight :-)
  • #1,614
  • Oct 12, 2015 12:47pm Oct 12, 2015 12:47pm
Maybe you are right, if you have made a lot of calculations. So, we're still looking for the holy grail ;-)
  • #1,615
  • Oct 12, 2015 1:17pm Oct 12, 2015 1:17pm
Quoting nobbie
Maybe you are right, if you have made a lot of calculations. So, we're still looking for the holy grail ;-)
I spent over 2 months with non-stop searching for some simple EA strategy with Renko chart, and it is looking still more and more impossible... Only possible way is what we are talking about, huge account and small positions. On the other hand, on DAX, there is over 1000 pips per day on 2 pips Renko bricks trading this way.
  • #1,616
  • Oct 12, 2015 1:18pm Oct 12, 2015 1:18pm
Quoting nobbie
Maybe you are right, if you have made a lot of calculations. So, we're still looking for the holy grail ;-)
On GBP/USD you should have a statistical chance of 1:256 of getting 10 opposite bricks once the first 2 opposing bricks have happened.

In reality it is closer to 1:171... A MartinGale system can only possibly work if the odds are already stacked in your favour and in this case they aren't.

You can bias the results by considering the current trend etc and going for a run of bricks but this still only works on some pairs and brick sizes as I mentioned before...

I'm not trying to be negative, it's just that we test this kind of thing every day here...
A lion doesn't concern itself with the opinion of sheep.
  • #1,617
  • Oct 13, 2015 1:20am Oct 13, 2015 1:20am
Quoting martin-trade
{quote} On GBP/USD you should have a statistical chance of 1:256 of getting 10 opposite bricks once the first 2 opposing bricks have happened. In reality it is closer to 1:171... A MartinGale system can only possibly work if the odds are already stacked in your favour and in this case they aren't. You can bias the results by considering the current trend etc and going for a run of bricks but this still only works on some pairs and brick sizes as I mentioned before... I'm not trying to be negative, it's just that we test this kind of thing every...
In short - scalping and opening positions on every brick without any analysis = Margin Call.

Yesterday I decided to add stochastic to my renko chart and search some intraday strategy, and within 1 hour I found it, it is looks better than any strategy that I was testing during last 2 months on scalping style... I think, everybody who starts with automatic systems have a dream "scalping robot with no indicators, trends, and so on" but at the end, he will find out, that it is impossible. I have had it too, and after over 2 months I am done with it.
  • #1,618
  • Oct 13, 2015 1:40am Oct 13, 2015 1:40am
Quoting Matomi
{quote} In short - scalping and opening positions on every brick without any analysis = Margin Call. Yesterday I decided to add stochastic to my renko chart and search some intraday strategy, and within 1 hour I found it, it is looks better than any strategy that I was testing during last 2 months on scalping style... I think, everybody who starts with automatic systems have a dream "scalping robot with no indicators, trends, and so on" but at the end, he will find out, that it is impossible. I have had it too, and after over 2 months I am done...
Hi Matomi, What currency pair, time frame and brick size are you using?
A lion doesn't concern itself with the opinion of sheep.
  • #1,619
  • Oct 14, 2015 3:59am Oct 14, 2015 3:59am
Hi All, I was wondering if anyone can help me?

I've done the instructions to load the mathtrader ea (i'm using the original renko mod and math trader renko EA (v2.95))

(yes i have Autotrading on (smiley face is on) and Dlls are allowed)
I load 1 minute Chart --> Load renko Mod
open the 2min chart (offline)
on the 2 min chart i go to properties and uncheck "offline"
i load the mathtrader EA onto the 2min renko chart

but here is where i get stuck; if i restart metatrader, the 2 min renko chart reverts back to default 1H candlestick charts... do i need to restart or will the EA start working the moment i uncheck offline? because so far, it hasn't placed anything...

next question - do i need to enable the 50 and 21 SMA's on the 2min renko chart or is it built into the mathtrader EA?

Thanks
J
  • #1,620
  • Oct 14, 2015 4:29am Oct 14, 2015 4:29am
Quoting jangezkhan
... do i need to restart or will the EA start working the moment i uncheck offline?...
Depends on EA, but after restart is better when you open 2min offline chart and you start EA again.

Quoting jangezkhan
...do i need to enable the 50 and 21 SMA's on the 2min renko chart or is it built into the mathtrader EA?...
indicator placed into graph doesnt affect functions EA
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