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Renko channel + Fast EMA = simple and profitable

  • #21
  • Nov 4, 2015 5:47am Nov 4, 2015 5:47am
Quoting saad007
i have heard that renko chart repaints. The thing goes like this : You have a chart with, let say, 5000 bars First bar starts at 00:00 01.01.2015 (just an example) As long as you do not restart terminal, the number of bars rises, that first bars does not change and renko is effectively anchored. But if you restart the terminal, it again loads last 5000 bars, starting time (and value) changes, and your renko changes. So by keeping it run all the time, you are effectively anchoring renko and preventing it from repainting (without having a code that...
what u say is absolutely right.
fortunately there is a renko indicator (or expert?) made by KIADS, wich has this build in anchor, so u get the same offlinechart after terminal restart...
search for Kiads, u will find it!

green pips, robcole
  • #22
  • Nov 4, 2015 6:00am Nov 4, 2015 6:00am
Gotta be careful with renkos. They can backtest really well, but the results can be misleading.

For example, news spikes can show up on a chart looking like a really profitable and obvious trade, one of those "big wins" that push a system into "profitable" territory but in reality such trades are inaccessible. I managed to fool myself like this in the past. Not saying it can't work, just a heads up.
  • #23
  • Edited 7:13am Nov 4, 2015 6:14am | Edited 7:13am
Quoting Phil2015
Gotta be careful with renkos. They can backtest really well, but the results can be misleading. For example, news spikes can show up on a chart looking like a really profitable and obvious trade, one of those "big wins" that push a system into "profitable" territory but in reality such trades are inaccessible.

This is exactly right.

When you backtest a Renko-based system, it's all too easy mistakenly to imagine that the "trades" recorded/measured/calculated are trades which you'd have been able to take, yourself.

In reality, this is often not the case.

The difference between "the trades the backtest takes" and "the trades you can take yourself" can easily make the difference between overall profit and overall loss.

Just something to be aware of.

And yet another reason (as if one were needed) for forward-testing on demo, or for tiny stakes, being far more reliable than backtesting, and for NinjaTrader being far more useful for research/testing than MetaTrader!).
  • #24
  • Nov 4, 2015 6:43am Nov 4, 2015 6:43am
Quoting robcole
{quote} what u say is absolutely right. fortunately there is a renko indicator (or expert?) made by KIADS, wich has this build in anchor, so u get the same offlinechart after terminal restart... search for Kiads, u will find it! green pips, robcole
Hi there robcole.. Tried searching for Kiads and it shows as 'membership revoked' against his profile and couldn't locate the particular EA!

If you have it, can you pls post the same here ?

Cheers !

Darshana
  • #25
  • Nov 4, 2015 8:07am Nov 4, 2015 8:07am
Quoting darshanag
{quote} Hi there robcole.. Tried searching for Kiads and it shows as 'membership revoked' against his profile and couldn't locate the particular EA! If you have it, can you pls post the same here ? Cheers ! Darshana

Here u go:
Attached File(s)
File Type: ex4 !MTH Renko Chart Builder Indi Ver 02.ex4   39 KB | 5,065 downloads
  • #26
  • Nov 4, 2015 8:16am Nov 4, 2015 8:16am
Quoting robcole
{quote} Here u go: {file}
Cheers bud !
  • #27
  • Nov 4, 2015 8:32am Nov 4, 2015 8:32am
Quoting robcole
{quote} Here u go: {file}
Installed it. Appreciate if you can let me know what I need to do in the input window to ensure the ranko chart is 'anchored' and does not repaint whenever the terminal is restarted.

Also can you pls let me know what 'Boxshift percent' does for a Rank chart. Pls pardon my ignorance as I'm relatively new to Ranko and finding my way around the indicator trying to understand how it works. Cheers !!

D
  • #28
  • Nov 4, 2015 9:09am Nov 4, 2015 9:09am
please post your template here
  • #29
  • Nov 4, 2015 9:34am Nov 4, 2015 9:34am
Hello,

if you want to do some visual backtesting, then you can replace the Renko street channel with Donchinan bands indicator. The setting with period 15 (or so) should be close enough. They are almost the same in the real time testing.
  • #30
  • Nov 4, 2015 9:41am Nov 4, 2015 9:41am
can we have a template ,please? :]
  • #31
  • Nov 4, 2015 9:44am Nov 4, 2015 9:44am
I've never used renko bricks but this looks like fun. I installed the channel and fastMA's OK. Where can I get the nice looking Renko bricks I see in these sample charts? I looked all over for an mq4 file for the indicator, but couldn't find it. And THANKS.
Vita est simillimus forexum(Life is like forex)
  • #32
  • Nov 4, 2015 7:58pm Nov 4, 2015 7:58pm
Quoting saad007
i have heard that renko chart repaints. The thing goes like this : You have a chart with, let say, 5000 bars First bar starts at 00:00 01.01.2015 (just an example) As long as you do not restart terminal, the number of bars rises, that first bars does not change and renko is effectively anchored. But if you restart the terminal, it again loads last 5000 bars, starting time (and value) changes, and your renko changes. So by keeping it run all the time, you are effectively anchoring renko and preventing it from repainting (without having a code that...

What are you speaking about -- I trade it daily with net 20-50 pips daily

This is special renko - Does not repaint - and does not do any of the balony you mention above
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 23 KB
Click to Enlarge Name: Screenshot3.png Size: 30 KB
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #33
  • Nov 4, 2015 8:49pm Nov 4, 2015 8:49pm
Quoting zamanib
I found these renko - more profitable and the good thing don't need any indicators -- can be traded bare Naked }}} {image}
Can you pls share the indicator / EA for this type of Ranko ?

Cheers !

D
  • #34
  • Nov 4, 2015 9:15pm Nov 4, 2015 9:15pm
Quoting skyler
There are just 2 indicators, but looks how powerfull! I just using this 2 indicators Fast3MA and Renkostreet_channel http://s11.postimg.org/wxbhw53lv/Przechwytywanie.png post images Price channel repaint but it doesnt matter. It based on price action high and low, and if H/L got break its just reapint. For renko chart this is powerfull stuff. We need bounce of channel and react for fast EMA. Its would be nice if somebody, for example MathTrader7 who is very smart programmed would make EA for it. Simple...
Can you make alert when price bounce from channel? Thank you so much!
  • #35
  • Nov 5, 2015 12:05am Nov 5, 2015 12:05am
Quoting skyler
There are just 2 indicators, but looks how powerfull! I just using this 2 indicators Fast3MA and Renkostreet_channel http://s11.postimg.org/wxbhw53lv/Przechwytywanie.png post images Price channel
Hey, thanks for the RenkoStreet_channel Indi - i like it!
Good luck with your thread.
  • #36
  • Nov 5, 2015 12:28am Nov 5, 2015 12:28am
Is that chart you show on the first post from live trading?

if is from backtest than is a different story.

i think it better to combine it with normal chart.
  • #37
  • Nov 5, 2015 1:25am Nov 5, 2015 1:25am
It is always good to see new posts for renko systems, but take into account that this indicator is repainter. I had used that indicator in the past, but wasn't sure and wanted to search it again.
That doesn't mean that couldn't work for you, just mention that issue to be aware of that if you don't know that.


Re: Super Signals Indicator
Originally posted by nbtrading View Post
All super signals versions are repainting. Some are claiming that they are trading it successfully, but so far I haven't seen proofs for that
nbtrading

You are right : there is no super signal indicator that does not recalculate
PS: super signals is equal to fractals with adjustable periods. If someone has a strategy that is using fractals then super signals can replace fractals (answer from mladen from another forum)
  • #38
  • Nov 5, 2015 2:31am Nov 5, 2015 2:31am
Quoting zamanib
{quote} What are you speaking about -- I trade it daily with net 20-50 pips daily This is special renko - Does not repaint - and does not do any of the balony you mention above {image} {image}

Hello Zamani,

How do you enter and exit?
Attached Image (click to enlarge)
Click to Enlarge Name: Renko_EURJPYM2.png Size: 48 KB
  • #39
  • Nov 5, 2015 8:31am Nov 5, 2015 8:31am
Quoting zamanib
{quote} What are you speaking about -- I trade it daily with net 20-50 pips daily This is special renko - Does not repaint - and does not do any of the balony you mention above {image} {image}
Where can I get this Renko chart?
  • #40
  • Nov 5, 2015 8:40am Nov 5, 2015 8:40am
can anyone make a alert when price bounces? :]
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