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Non-gap Renko Chart Creator EA

  • #41
  • Apr 29, 2015 8:41am Apr 29, 2015 8:41am
I understood, that the main reason for this Renko mod was backtesting.
Earlier in the current thread, it was mentioned that backtesting required hst + fxt generation from a tick data source, while this chart is generated from the current broker's feed.
I have no idea how the backtesting of this chart is technically performed, but I thought this chart actually had no relation to the one generated along with the fxt file for testing. So a question, can this chart be directly used in the tester?
  • #42
  • Edited 9:10am Apr 29, 2015 8:58am | Edited 9:10am
Quoting Halley
I understood, that the main reason for this Renko mod was backtesting. Earlier in the current thread, it was mentioned that backtesting required hst + fxt generation from a tick data source, while this chart is generated from the current broker's feed. I have no idea how the backtesting of this chart is technically performed, but I thought this chart actually had no relation to the one generated along with the fxt file for testing. So a question, can this chart be directly used in the tester?
I don't use this chart for backtesting, as you mentioned I use a set of special tools I have written to read ticks (from csv files) and convert them to synchronized HST and FXT files for backtesting. However, since I develop my Renko strategies based on non-gap Renkos, this Renko Chart Creator produces consistent charts to that of my backtest....
Trading is the hardest way to make easy money...
  • #43
  • Apr 30, 2015 12:21am Apr 30, 2015 12:21am
Quoting MathTrader7
{quote} I don't use this chart for backtesting, as you mentioned I use a set of special tools I have written to read ticks (from csv files) and convert them to synchronized HST and FXT files for backtesting. However, since I develop my Renko strategies based on non-gap Renkos, this Renko Chart Creator produces consistent charts to that of my backtest....
Thank you, that makes perfect sense, that the live chart fits the test chart.
  • #44
  • May 31, 2015 11:58am May 31, 2015 11:58am
HELLO...
for the set up on renko chart creator use the default setting or not ?
the default setting is 100 points.
thank...
i newbie here
  • #45
  • Edited Jun 1, 2015 1:36pm May 31, 2015 2:49pm | Edited Jun 1, 2015 1:36pm
Quoting nikimura
HELLO... for the set up on renko chart creator use the default setting or not ? the default setting is 100 points. thank... i newbie here
The size of the Renko bricks depends on the strategy you want to use. A 10-pip (100 points) brick size is common.
Trading is the hardest way to make easy money...
  • #46
  • Jun 5, 2015 4:04am Jun 5, 2015 4:04am
Hi Math

This is a masterpiece, in my opinion.

Thank you

Regards
  • #47
  • Jun 5, 2015 4:05am Jun 5, 2015 4:05am
Quoting Hardpike
Hi Math This is a masterpiece, in my opinion. Thank you Regards
Hello Hardpike,
You're welcome!
Hope you make green pips!
Trading is the hardest way to make easy money...
  • #48
  • Jun 10, 2015 2:47am Jun 10, 2015 2:47am
Thank you MathTrader7 for your efforts. I cant wait to try it out. I have been using the Renko generator pimped 4.13 version and as it works quite well it does take a toll on my CPU. Hoping your version will work better.

Thank you once again for your hard work and for sharing with us.

Elle
  • #49
  • Oct 14, 2015 8:36am Oct 14, 2015 8:36am
Version 1.41 released. This version is compiled and tested on MetaTrader 4 Build 890. I updated Post 1.
Trading is the hardest way to make easy money...
  • #50
  • Oct 15, 2015 6:58pm Oct 15, 2015 6:58pm
NICE WORK MAN. PLEASE DOES UR ea repaint?
  • #51
  • Nov 9, 2015 5:45am Nov 9, 2015 5:45am
Quoting MathTrader7
{quote} MathTrader7_RenkoChartCreator.ex4 is an Expert Advisor (EA) not an Indicator! Here is a step by step guide for you: How to create a Renko chart: 1. Download MathTrader7_RenkoChartCreator.ex4 from the attachments in Post 1, and copy it into your <Experts> folder. 2. Enable DLL import in Options menu. 3. Refresh your MT4 platform's navigator window (or restart MT4). 4. Open a M1 chart (e.g., EURUSD, M1) and attach the above EA to the chart. 5. From <File> menu, select <Open Offline> and choose (EURUSD, M2) chart.
Works only for eurusd?
  • #52
  • Nov 9, 2015 6:34am Nov 9, 2015 6:34am
Quoting Giannigr
{quote} Works only for eurusd?
Works on any symbol. EURUSD is just an example.
Trading is the hardest way to make easy money...
  • #53
  • Nov 9, 2015 7:28am Nov 9, 2015 7:28am
Quoting MathTrader7
{quote} Works on any symbol. EURUSD is just an example.
That's great
  • #54
  • Nov 9, 2015 10:31am Nov 9, 2015 10:31am
Thanks MathTrader7.

Can you answer this question? How does your non-gap Renko compare to another type, like a shifted (25%, 50%, etc...)? I guess the question is in relation to accuracy and price action.

Update: You know what, I think I answered my own question. I did a side by side comparison of the two. There fewer up and down price cycles with the non-gap Renko during the same time frame. In other words, less noise. Am I right with this conclusion?
  • #55
  • Nov 9, 2015 3:52pm Nov 9, 2015 3:52pm
Quoting MathTrader7
{quote} Works on any symbol. EURUSD is just an example.
I saw somewhere a commercial renko ea with m3 instead m2. Its possible to create anotherone m3 ea just to try out?
  • #56
  • Edited 4:17pm Nov 9, 2015 3:58pm | Edited 4:17pm
Quoting Giannigr
{quote} I saw somewhere a commercial renko ea with m3 instead m2. Its possible to create anotherone m3 ea just to try out?
In the input settings, set time frame to 3.
Trading is the hardest way to make easy money...
  • #57
  • Edited 5:11pm Nov 9, 2015 4:54pm | Edited 5:11pm
[quote=MathTrader7;8582931]{quote} In the input settings, set time frame to 3.[/quote
it works, thanks
  • #58
  • Nov 16, 2015 4:23am Nov 16, 2015 4:23am
Quoting MathTrader7
{quote} I don't use this chart for backtesting, as you mentioned I use a set of special tools I have written to read ticks (from csv files) and convert them to synchronized HST and FXT files for backtesting. However, since I develop my Renko strategies based on non-gap Renkos, this Renko Chart Creator produces consistent charts to that of my backtest....
Hi MathTrader7,

I've been looking for a way to somewhat accurately backtest Renko strategies and have been collecting some tickdata for the past few months. I have never used Tickdata for backtesting before, but most guides explain the process of converting the data to HST and FXT files, so that shouldn't be a problem. My question is this: The Metatrader Strategytester can now create the (timeframe) chart based on the tickdata, e.g. M1. For your backtests, do you run a Renkochart-creator on top of this, or does your backtest EA handle the Renko bricks internally? I hope you know what I'm trying to say.

Any hint regarding your backtesting process would be greatly appreciated.
  • #59
  • Nov 16, 2015 9:13am Nov 16, 2015 9:13am
Quoting monk2316
{quote} Hi MathTrader7, I've been looking for a way to somewhat accurately backtest Renko strategies and have been collecting some tickdata for the past few months. I have never used Tickdata for backtesting before, but most guides explain the process of converting the data to HST and FXT files, so that shouldn't be a problem. My question is this: The Metatrader Strategytester can now create the (timeframe) chart based on the tickdata, e.g. M1. For your backtests, do you run a Renkochart-creator on top of this, or does your backtest EA handle the...
Hi Monk,

For rough testing, I create a Renko M1 HST file which suffices for having an idea how the EA/Strategy/Trading idea would work. But for more accurate test, I use real ticks downloaded from Dukascopy, convert them to M1, and I use a Renko builder function (that I integrate it into the target EA) to build Renko bricks into the memory. I then apply the trading strategy to the Renko bricks saved in the memory while I can benefit from real ticks behavior (such as big jumps due to high impact news, etc.) to test more accurately a strategy.

Hope this helps you to develop your own testing framework
Math
Trading is the hardest way to make easy money...
  • #60
  • Nov 16, 2015 9:32am Nov 16, 2015 9:32am
Thanks for the information! A "Renko builder function" as you call it, would also be my choice for the backtesting, as there is no need to make the "detour" of a Renko chart.
What is your approach for using indicators in your EA on the output of this builder function? My guess would be, using the various "ixxxxOnArray" functions as there is no "timeframe" you would apply the indicators to.

cheers
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