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Renko Trading Discussion

  • #1
  • First Post: Edited Sep 30, 2022 3:26am Oct 11, 2015 6:12pm | Edited Sep 30, 2022 3:26am
>>Introduction
In this thread we discuss Renko trading strategies and share our trading systems, indicators and EAs. There are a few Renko trading EAs in Post 1. Some of them are based on the idea of FF members, some based on mine. I used to make money using Renko MA EA with re-optimizing the EA at the end of every week (to get the best input settings for trading the next week), but I no longer use any of the Renko EAs in Post 1. Currently I am forward testing a few new Renko EAs based on other strategies. If I have something promising (to be profitable) and want to share it, I will post it here.


>>Thread Rules:
1. In this thread we only discuss Renko TRADING strategies, indicators, and EAs. We do NOT discuss Renko chart builders. I will IGNORE anyone write any irrelevant post here.
2. You post any commercial link (directly or indirectly) and that would be your last posts.
3. TBD.


>>How to create a Renko chart and attach a Renko Trading EA to the chart:
1. Download the Renko chart builder EA (that all my Renko trading EAs need it) from Post 1 of this thread.
2. Open a M1 chart of your selected symbol (for this example, EURUSD).
3. Attach "MathTrader7_RenkoChartCreatorEA.ex4" EA to the M1 chart with the default settings (or adjust them according to your preference) and wait until you see the message "Open offline chart..." on the chart. With the default settings the Renko brick size is 100 points and the Renko chart will be created as a M2 offline chart of the selected symbol. In our example with EURUSD, the message will be "Open offline chart EURUSD,M2 (100 points)".
NOTE: From version 1.50 of the Renko chart builder EA, it automatically opens the Renko chart for you. If you use the previous versions, you have to click on the "Open Offline" option of "File" menu and then locate for EURUSD,M2.
4. Now, attach a Renko trading EA, for example "MathTrader7_RenkoMA_EA.ex4" to the offline chart, EURUSD,M2.
5. Make sure that "Auto Trading" button on MT4 platform is active.


>>How to backtest Renko EAs:
1. In the following link there is a description of a method to backtest Renko EAs:
http://www.forexfactory.com/showthread.php?t=572375

2. Below you can find a script that converts real ticks to non-gap Renko HST files for backtesting EAs,
https://www.forexfactory.com/showthread.php?t=535170

NOTE: I do not use above method to backtest my Renko EAs. I have my own way of doing so.
There is a description of how I test Renko EAs with real ticks below,
https://www.forexfactory.com/showthr...92#post8594192


>>A Set of Renko HST files for backtesting
Attached is a Zip file containing HST files of EURUSD NonGap Renko created by real ticks from 20180101 to 20191115 for Renko sizes 30, 40, 50, 60, 70, 80, 90 and 100 points. Hope this helps people with backtesting Renko strategies.
Attached File(s)
File Type: zip RenkoHST.zip   2.1 MB | 1,758 downloads | Uploaded Jun 16, 2020 9:20am


>>Renko Trading EAs
Note: You shall not rely on the default values of the input settings. You need to optimize the EAs according to the Renko brick size, the symbol (e.g., EURUSD, GOLD, DAX30), the risk managment, etc.

--- Renko Meta RSI EA ---
Version 1.04 of Renko Meta RSI EA released. See a backtest here (10 pips Renko).
Attached File(s)
File Type: ex4 MT7_RenkoMetaRsiEA.ex4   93 KB | 1,223 downloads | Uploaded Feb 2, 2021 1:53pm

Note: THIS IS AN EXPERIMENTAL EXPERT ADVISOR MEANT FOR A FORWARD TEST FOR ONE YEAR.

--- Renko Parabolic SAR EA ---
Version 1.40 of Renko Parabolic SAR EA released. See a backtest here (10 pips Renko).
Attached File(s)
File Type: ex4 MT7_Renko_PSarEA.ex4   59 KB | 988 downloads | Uploaded May 3, 2021 6:39am

--- Renko ADX EA ---
Version 1.46 of Renko ADX EA released. See a backtest here (10 pips Renko).
Attached File(s)
File Type: ex4 MT7_Renko_AdxEA.ex4   67 KB | 967 downloads | Uploaded May 3, 2021 6:54am

--- Renko MA Cross EA ---
Version 1.21 of Renko MA Cross EA released. See a backtest here (10 pips Renko).
In this version the EA closes a BUY (SELL) position if the candle closes below (above) the fast moving average.
Attached File(s)
File Type: ex4 MT7_Renko_MaCrossEA.ex4   63 KB | 1,116 downloads | Uploaded Jun 24, 2021 4:07pm

--- Renko EA of Renko Street Strategy! ---
Version 2.03: Fix a bug with money management. Simplified trailing stop loss settings.
Attached File(s)
File Type: ex4 MathTrader7_RenkoStreetEA_v203.ex4   99 KB | 794 downloads | Uploaded Sep 30, 2022 3:24am

--- Renko EA of Lets Automate a Simple Renko Strategy! ---
Here is the latest version of the EA I developed for the strategy described in the thread "Lets Automate a Simple Renko Strategy!".
Version 3.39: Fix a problem with stochastic filter. Compiled with MT4 build 1360.
Attached File(s)
File Type: ex4 MathTrader7_RenkoEA.ex4   106 KB | 995 downloads | Uploaded Sep 24, 2022 5:47am
Trading is the hardest way to make easy money...
  • #2
  • Oct 11, 2015 7:41pm Oct 11, 2015 7:41pm
hi mathtrader

good to see you open a thread discussing Renko trading. are you going to talk about Renko scalper strategy here?

thanks
patience is a virtue
  • #3
  • Oct 14, 2015 8:38am Oct 14, 2015 8:38am
Version 1.41 of Non-gap Renko Chart Creator EA released. This version is compiled and tested on MetaTrader 4 Build 890
Trading is the hardest way to make easy money...
  • #4
  • Oct 15, 2015 10:15am Oct 15, 2015 10:15am
I'm really liking Renko and have done for a while. I am currently playing with an EA that has some success but what I would like to add to it is the ability to only take a trade if the previous bar formed in Less than X minutes. The idea being that when the market is moving really slowly, trades won't be taken, as it is more likely to move horizontally rather than vertically. Unfortunately my programming skills are very limited so any tips on how to do that Mathtrader would be very much appreciated.

Max
Gravity goes both ways in forex...
  • #5
  • Oct 15, 2015 10:31am Oct 15, 2015 10:31am
Quoting max pips
I'm really liking Renko and have done for a while. I am currently playing with an EA that has some success but what I would like to add to it is the ability to only take a trade if the previous bar formed in Less than X minutes. The idea being that when the market is moving really slowly, trades won't be taken, as it is more likely to move horizontally rather than vertically. Unfortunately my programming skills are very limited so any tips on how to do that Mathtrader would be very much appreciated. Max
I was thinking about a similar approach for scalping a few pips. However, there is a major problem with this approach: if the price jumps up/down greater than one Renko block size, there will be no chance to open a position in the middle of price jump (=open of a Renko candle).
Trading is the hardest way to make easy money...
  • #6
  • Oct 15, 2015 11:27am Oct 15, 2015 11:27am
Thats always the way, but I am using usually 4 pip (40 point) bars. Up until this week the markets have been swinging up and down quite nicely but this week they have been much more rangey. When this happens the bars take longer to form, typically half an hour plus. So what I want to do is, if the previous bar has formed in less than say ten minutes trade. If not, don't.
The time thing is not they system, just a qualification of the system

Max
Gravity goes both ways in forex...
  • #7
  • Edited 6:17pm Oct 15, 2015 12:35pm | Edited 6:17pm
Hello Math,

Thanks for your EA. I was just manipulating the parameters thereof to see it's performance. I have changed my renko size to a much much more smaller value just for trying purposes.

I kinda notice that the EA does not take trades.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM2_renko.png Size: 77 KB
  • #8
  • Edited 4:39pm Oct 15, 2015 4:18pm | Edited 4:39pm
Quoting max pips
Thats always the way, but I am using usually 4 pip (40 point) bars. Up until this week the markets have been swinging up and down quite nicely but this week they have been much more rangey. When this happens the bars take longer to form, typically half an hour plus. So what I want to do is, if the previous bar has formed in less than say ten minutes trade. If not, don't. The time thing is not they system, just a qualification of the system Max
Here is Version 1.00 of the EA that opens a position in the direction of the previous Renko bar if that bar forms between a user specified minimum and maximum minutes.
Attached File(s)
File Type: ex4 MathTrader7_RenkoMaxEA.ex4   120 KB | 2,152 downloads

Note: The EA has not been tested yet. Use it on a demo account first.
Trading is the hardest way to make easy money...
  • #9
  • Oct 15, 2015 4:39pm Oct 15, 2015 4:39pm
Quoting maxwell-eqtn
Hello Math, Thanks for your EA. I was just manipulating the parameters thereof to see it's performance. I have changed my renko size to a much much more smaller value just for trying purposes. I kinda notice that the EA does not take trades. {image}
Hello maxwell, what are the red and gray bands on your chart?
Trading is the hardest way to make easy money...
  • #10
  • Oct 15, 2015 4:49pm Oct 15, 2015 4:49pm
Quoting blueseahorse
hi mathtrader good to see you open a thread discussing Renko trading. are you going to talk about Renko scalper strategy here? thanks
Hi blueseahorse, I discuss all my Renko strategies in this thread.
Trading is the hardest way to make easy money...
  • #11
  • Oct 15, 2015 9:45pm Oct 15, 2015 9:45pm
The Red Band on Maxwell chart maybe using this indicator
Attached Image (click to enlarge)
Click to Enlarge Name: PB_Channel.jpg Size: 107 KB
Attached File(s)
File Type: ex4 PB Channel.ex4   9 KB | 2,040 downloads
  • #12
  • Oct 16, 2015 3:43am Oct 16, 2015 3:43am
Hello everyone, do you have try this indicator on renko? Is this repaint?.
I just download this indicator on the web. I try attach this indicator on 20 Renko Brick Size (MT7 Non Gap Version) to Minimize Choppy Market .
and The Game Is Follow The Arrow, If this Arrow is true ...(Aahhh Maybe its Just My Dream to trade With No Worry).
But,. MathT7, is this possible to make Renko EA based on this indicator?.

On this chart the number is basic calculation without Spread,SlipPage,Swap..etc

Attached Image


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM2.png Size: 24 KB


Attached Image


Attached File(s)
File Type: ex4 !MA_Cross_OC.ex4   8 KB | 2,435 downloads
Attached File(s)
File Type: mq4 !MA_Cross_OC.mq4   4 KB | 2,892 downloads


**Sorry For My Poor English.
  • #13
  • Oct 16, 2015 7:38am Oct 16, 2015 7:38am
Quoting tapyoung
Hello everyone, do you have try this indicator on renko? Is this repaint?. I just download this indicator on the web. I try attach this indicator on 20 Renko Brick Size (MT7 Non Gap Version) to Minimize Choppy Market . and The Game Is Follow The Arrow, If this Arrow is true ...(Aahhh Maybe its Just My Dream to trade With No Worry). But,. MathT7, is this possible to make Renko EA based on this indicator?. On this chart the number is basic calculation without Spread,SlipPage,Swap..etc {image} {image} {image} {file}{file} **Sorry For My Poor English....
I just looked at the code of this indicator. It just draws up/down arrows at the cross between a MA(5,Simple,Close) and a MA(5,Simple,Open). However it repaints the arrow at the current bar (which has not been closed yet). Regardless of a poor implementation of the idea, we can react to (i.e., trade) the arrows appear on the second previous bar (which has been closed). What would be the performance of this strategy, I don't know. But as one can expect from a MA cross strategy, it would be probably profitable in a trending market. I may give it a try to back test it automatically.
Trading is the hardest way to make easy money...
  • #14
  • Oct 16, 2015 9:31am Oct 16, 2015 9:31am
Quoting MathTrader7
{quote} I just looked at the code of this indicator. It just draws up/down arrows at the cross between a MA(5,Simple,Close) and a MA(5,Simple,Open). However it repaints the arrow at the current bar (which has not been closed yet). Regardless of a poor implementation of the idea, we can react to (i.e., trade) the arrows appear on the second previous bar (which has been closed). What would be the performance of this strategy, I don't know. But as one can expect from a MA cross strategy, it would be probably profitable in a trending market. I may give...
MT7, Thanks for reply.. I forgot My Setting for this Indicator. can you check and test it?
Attached Image



Thanks
  • #15
  • Oct 16, 2015 11:21am Oct 16, 2015 11:21am
Owh.. Sorry yes the Arrow is repaint.. just forget it.

maybe too good to be true.

sorry..

Thanks
  • #16
  • Oct 18, 2015 5:55am Oct 18, 2015 5:55am
Quoting tapyoung
The Red Band on Maxwell chart maybe using this indicator {image}{file}
This indicator recalculates the bands and fits them to the past. Simply put, it repaints. Let's skip it!
Trading is the hardest way to make easy money...
  • #17
  • Oct 19, 2015 12:53am Oct 19, 2015 12:53am
Does anyone know how to download RENKO on Mac?
  • #18
  • Oct 19, 2015 6:11am Oct 19, 2015 6:11am
I wonder if you have tried Renko + Ichimoku?
  • #19
  • Oct 19, 2015 10:16pm Oct 19, 2015 10:16pm
No I haven't.. Have you? Hows it going
  • #20
  • Oct 20, 2015 5:48pm Oct 20, 2015 5:48pm
Quoting MathTrader7
I start this thread for those who are a big fan of trading on renko charts. Here we will discuss Renko trading strategies together. We will share our trading systems, indicators and EAs. --- Renko EA --- Here I will upload the latest version of (and any further updates to) the EA I developed for the strategy described in the thread "Lets Automate a Simple Renko Strategy!". Version 3.36:{file}
MartTrader7, First and foremost i want to let you know that i(we) really appreciate your good work here
please i have this EA specifications in mind

1) Entry point : when 2 bricks of the same colours are formed

2) Exit point: when 1 brick of the opposite colour is formed

3) Lots size should be user define

4) Stop Loss: the wick of the first brick before entry point and option to insert manually specific level of stop loss

5) Up to two trades in an entry point, the first trade closes at a specific target of pips (user defined)
while the last trade and remaining trade moves stops to breakeven or exit at the close of 1 brick opposite colour( which ever come first)

6) EA should have an option for broker time

7) sound alerts when trades are taken, breakeven or closed

8) EA should have an option for MA filter like the last EA version(3.36)

Thank you very much as you will code this
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
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