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Renko Trading Discussion

  • #161
  • Dec 16, 2015 6:03am Dec 16, 2015 6:03am
Quoting MathTrader7
{quote} I'm working on a predictive Renko builder to better engulf ranging market to avoid such small losses.
I'm very interested in this. My EA works off direction change so if I could have renko blocks that minimize even more noise, that would be great!
  • #162
  • Dec 16, 2015 8:14am Dec 16, 2015 8:14am
Quoting MathTrader7
{quote} Hi Central4, I'm really glad to see that someone is seriously testing one of the Renko EAs with a public Trade Explorer As you said, I'm working on a predictive Renko builder to better engulf ranging market to avoid such small losses. If you observed that around daily pivot points it is more likely to have ranging Renko bricks, I may implement such filter to see how it would work. Best, Math
Hi Math

Thank you for the quick answer.

I attached you some Pictures with a Pivot Point Indicator.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 292 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 282 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 3.jpg Size: 283 KB


Thank you

Central4
Regard Central4
  • #163
  • Dec 16, 2015 3:14pm Dec 16, 2015 3:14pm
Quoting Central4
{quote} Hi Math Thank you for the quick answer. I attached you some Pictures with a Pivot Point Indicator. {image} {image} {image} Thank you Central4
Hi Central4,

Thanks for the charts! They are really helpful

Best,
Math
Trading is the hardest way to make easy money...
  • #164
  • Dec 16, 2015 10:38pm Dec 16, 2015 10:38pm
Quoting MathTrader7
And here is the results of backtesting Renko Street EA v1.90. To be honest, the results look too good to be true... {image}
hi math, will you share this EA or at least explain the logic please?
patience is a virtue
  • #165
  • Dec 17, 2015 12:06am Dec 17, 2015 12:06am
Quoting Elovv
"And here is the results of backtesting Renko Street EA v1.90. To be honest, the results look too good to be true... " Wow! Where can I find this EA, will test it
Hi,
Where can I find Renko Street EA v1.9 ?
  • #166
  • Dec 17, 2015 1:44am Dec 17, 2015 1:44am
Quoting radadiya
{quote} Hi, Where can I find Renko Street EA v1.9 ?
Quoting blueseahorse
{quote} hi math, will you share this EA or at least explain the logic please?
Version 1.9 is experimental and under development.
Trading is the hardest way to make easy money...
  • #167
  • Dec 17, 2015 2:32am Dec 17, 2015 2:32am
Quoting MathTrader7
I'm working on a Renko chart creator EA that changes the size of Renko bricks based on the average of N last range of candles of some standard chart (for example, M1). I defined a minimum Renko brick size (for example 100 points). Some preliminary results are shown below. What do you think about the best strategy to change the Renko brick size based on the recent market price action? {image} {image}

I would recommend sqrt of time function to closely mimic a time frame (5 minute or 15 minute). Here is an example:

If you want to mimic 5 minute time frame:
average daily range(last 30 days) / sqrt(1440/5).

so as formula it would be
ADR / sqrt(1440/TimeFrametoMimic)

Hope it helps
  • #168
  • Dec 17, 2015 2:46am Dec 17, 2015 2:46am
Quoting GoldTheHun
{quote} I would recommend sqrt of time function to closely mimic a time frame (5 minute or 15 minute). Here is an example: If you want to mimic 5 minute time frame: average daily range(last 30 days) / sqrt(1440/5). so as formula it would be ADR / sqrt(1440/TimeFrametoMimic) Hope it helps
Hi GoldTheHun,

This looks promising! Thanks for sharing your idea

I'm going to implement a beta version based on the formula you provided. Let's see how it would work.

Best,
Math
Trading is the hardest way to make easy money...
  • #169
  • Edited 3:07am Dec 17, 2015 2:50am | Edited 3:07am
Quoting MathTrader7
{quote} Hi GoldTheHun, This looks promising! Thanks for sharing your idea I'm going to implement a beta version based on the formula you provided. Let's see how it would work. Best, Math
Glad you liked it. This method is more suitable for range bars, because renko has a method of (2 x size) at turning points, where range bars have none.
So here is a range bar generator which I use (these are experts):

Attached File(s)
File Type: ex4 rangeboxsize.ex4   11 KB | 664 downloads

Attached File(s)
File Type: mq4 rangeboxsize.mq4   11 KB | 719 downloads


I am attaching ex4 and mq4 files. The mq4 might not compile in new version of mt4.

Take care..
  • #170
  • Dec 17, 2015 3:30am Dec 17, 2015 3:30am
Quoting GoldTheHun
{quote} Glad you liked it. This method is more suitable for range bars, because renko has a method of (2 x size) at turning points, where range bars have none. So here is a range bar generator which I use (these are experts): {file} {file} I am attaching ex4 and mq4 files. The mq4 might not compile in new version of mt4. Take care..
I'm going to create the beta version like this:

1. At the beginning of every trading day

1.1. the EA re-calculates the Renko bar size according to the formula you provided (or any other formula we may come up with later);

1.2. the EA closes the last open Renko bar of the previous day regardless of any condition.

2. The EA won't respect to 2 x Renko size for reverse bars, it creates a reverse bar at the current day's Renko size.

Let's see how this approach would help our trading performance.

Best,
Math
Trading is the hardest way to make easy money...
  • #171
  • Dec 17, 2015 4:19am Dec 17, 2015 4:19am
Quoting MathTrader7
{quote} I'm going to create the beta version like this: 1. At the beginning of every trading day 1.1. the EA re-calculates the Renko bar size according to the formula you provided (or any other formula we may come up with later); 1.2. the EA closes the last open Renko bar of the previous day regardless of any condition. 2. The EA won't respect to 2 x Renko size for reverse bars, it creates a reverse bar at the current day's Renko size. Let's see how this approach would help our trading performance. Best, Math
Personally I am anxious to see this. Thanks and good luck coding it....

Another method you could maybe consider is to create a renko or rangebar builder using percentage change. This way you would get rid of the size of the bars as pips. Since fx pairs effect each other as percentages not in pips, this could be a more logical or correct choice. What do you thing Math?
  • #172
  • Dec 17, 2015 4:54am Dec 17, 2015 4:54am
Quoting GoldTheHun
{quote} Personally I am anxious to see this. Thanks and good luck coding it.... Another method you could maybe consider is to create a renko or rangebar builder using percentage change. This way you would get rid of the size of the bars as pips. Since fx pairs effect each other as percentages not in pips, this could be a more logical or correct choice. What do you thing Math?
I think I didn't get your idea of using the percentage change to create range/Renko bars. Let's say that a Forex pair changes 0.1% during some period of time, the next Renko bar size must be equal to that change?
Trading is the hardest way to make easy money...
  • #173
  • Dec 17, 2015 5:10am Dec 17, 2015 5:10am
Quoting MathTrader7
{quote} I think I didn't get your idea of using the percentage change to create range/Renko bars. Let's say that a Forex pair changes 0.1% during some period of time, the next Renko bar size must be equal to that change?

Well it is actually a little more complicated than that. There are two methods for this actually.

1. (HighOfDay/LowOfDay) ^ (1 / NumberOfBarsForTimeFramePerDay) --> This is the approximate method.

2. (HighOfDay/LowOfDay) ^ (1 / NumberOfBarsBetweenHighAndLowOfTheDay) --> This approach is more correct but intensive on calculation (coding wise)

In both methods you get a figure like 1.00001. So when there is a 0.00001 change you create a bar.

I hope my explanation is clear ....
  • #174
  • Edited 4:01am Dec 18, 2015 2:54am | Edited 4:01am
Hi MathTrader,

I've been testing your Renko Parabolic SAR EA and I'm wandering if it's possible to update it, combined with RenkoStreet channel as TP.
The entry is maintained the same as per current EA when the parabolic SAR has been reached, but whenever a renkostreet channel top/bottom of the opposite direction appears, the EA should close the order. I think it can help to minimize the loss (instead of waiting to reach the opposite SAR during ranging markets).
As renkostreet repaints, its possible that it will cut profits sooner also, but i'm trying to minimize losses as much as possible.

I'm attaching a screenshot which might help to explain.

Thanks in advance for your help, really appreciate your efforts.

PS: it would be nice if the EA can be added also with the option of allowed trading hours from/to.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 8 KB
  • #175
  • Dec 19, 2015 2:35pm Dec 19, 2015 2:35pm
Hello,

Were is the Renko Street EA v1.8?
  • #176
  • Dec 19, 2015 2:39pm Dec 19, 2015 2:39pm
Quoting gilfx
Hello, Were is the Renko Street EA v1.8?
Version 1.8 is experimental and under development.
Trading is the hardest way to make easy money...
  • #177
  • Dec 20, 2015 8:46pm Dec 20, 2015 8:46pm
Hi Math,

Just to share another suggestion if possible.
Still based on your current Renko Parabolic SAR EA, but adding CCI (50) as entry filter.

Criteria:
BUY: parabolic SAR (0.01/0.1) crossed and CCI (50) below 0 (focused on overbought conditions)
SELL: parabolic SAR (0.01/0.1) crossed and CCI (50) above 0 (focused on oversold conditions)



Sample as per screenshot:
1. Open sell since CCI is above 0.
2. Parabolic SAR crossed, no BUY order since CCI is still above 0 (maintain previous SELL order)
3. Parabolic SAR crossed, no new SELL since CCI below 0 and previous SELL still open
4. For example manual TP was performed between 3 & 4 (no open order), BUY order can be opened since parabolic SAR is crossed and CCI below 0.

During order open, its better to have the option to set fix SL and TP in EA settings to have better target and to be safe in case market anomali.
And if possible to have CCI value can be modified in EA settings.

Thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 12 KB
  • #178
  • Dec 21, 2015 2:03am Dec 21, 2015 2:03am
Quoting chondrohp
Hi MathTrader, I've been testing your Renko Parabolic SAR EA and I'm wandering if it's possible to update it, combined with RenkoStreet channel as TP. The entry is maintained the same as per current EA when the parabolic SAR has been reached, but whenever a renkostreet channel top/bottom of the opposite direction appears, the EA should close the order. I think it can help to minimize the loss (instead of waiting to reach the opposite SAR during ranging markets). As renkostreet repaints, its possible that it will cut profits sooner also, but i'm...
Hi chondrohp,

I like this idea to exit a winning position at a highest possible profit. I may implement the idea in the next versions.

Best,
Math
Trading is the hardest way to make easy money...
  • #179
  • Dec 21, 2015 2:17am Dec 21, 2015 2:17am
The results of a backtest of v1.91. It is set to risk 1% of the account's free margin per trade. I don't believe that this can be achieved in live trading.
I have set up a demo account for this version. Let's see how it would work.
Attached Image (click to enlarge)
Click to Enlarge Name: RenkoStreet_191_BT.png Size: 57 KB
Trading is the hardest way to make easy money...
  • #180
  • Dec 21, 2015 2:28am Dec 21, 2015 2:28am
The same version (1.91) with fixed money (100 USD) to risk per trade. It looks more realistic
Attached Image (click to enlarge)
Click to Enlarge Name: RenkoStreet_191_100USD_BT.png Size: 42 KB
Trading is the hardest way to make easy money...
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