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Hoved Renko Strategy

  • #1
  • First Post: Dec 28, 2015 9:51am Dec 28, 2015 9:51am

INDICATORS /EA USED

  1. Renko chart
  2. Bollinger band (20,1, applied to closing price)
  3. MACD (12,26,9 at closing price; limits I use +0,0001 & -0,0001 for EU with 5 pips renko brick size, for other pairs and renko sizes, use macd limits as it suits you.


FOR LONG TRADE

(Candle nomenclature used- Present candle ID is 0, previous one is 1, the one before that is 2 and so on)


Condition A

  1. Candle 2 (bull) closes inside bb upper band
  2. Candle 1 (bull) closes outside bb uppper band
  3. Macd at candle 1 is above upper limit
  4. Enter at closing of candle 1


Condition B

  1. Candle 2 bear
  2. Candle 1 (bull) closes outside bb uppper band and macd is above limit
  3. Check for candle 3


I. If bear, go for the trade after closing of candle 1

II. If bull, wait till candle 0 closes and if it closes bull, then enter


Exit

  1. At the end of next bear candle



FOR SHORT TRADE

  1. Rules are exactly in the reverse manner




I am uploading the basic EA I have created, knock yourself out.....

PS- This is my 1st thread, so please be gentle on me

Attached Images
Attached File(s)
File Type: ex4 Hoved_renko_bb_macd.ex4   307 KB | 570 downloads
  • #2
  • Dec 28, 2015 10:11am Dec 28, 2015 10:11am
Hi hovedguy,

I'm glad to see a Renko EA is around here. I backtested it, and optimized the input settings. Here is the best results I managed to obtain,
Attached Image (click to enlarge)
Click to Enlarge Name: Hoved_BT.png Size: 44 KB
Trading is the hardest way to make easy money...
  • #3
  • Dec 28, 2015 10:29am Dec 28, 2015 10:29am
Another catastrophe
  • #4
  • Dec 28, 2015 10:50am Dec 28, 2015 10:50am
Hey MathTrader,

Thanks for your work. Appreciate it.

As I see the bollinger deviation is kept 0,3 which is too narrow imo and its almost serving as a ma20. How does it perform with the default 1 deviation? Keeping the EA running only in high volatility EU n US sessions. I've put an additional time filter (server time).

I tried to pm you but looks like it doesn't take any attachment.
Attached File(s)
File Type: ex4 Hoved_renko_bb_macd_v1.ex4   313 KB | 466 downloads
  • #5
  • Dec 28, 2015 10:51am Dec 28, 2015 10:51am
Quoting Wholesome
Another catastrophe
Indeed !!
  • #6
  • Dec 28, 2015 11:04am Dec 28, 2015 11:04am
Quoting hovedguy
Hey MathTrader, Thanks for your work. Appreciate it. As I see the bollinger deviation is kept 0,3 which is too narrow imo and its almost serving as a ma20. How does it perform with the default 1 deviation? Keeping the EA running only in high volatility EU n US sessions. I've put an additional time filter (server time). I tried to pm you but looks like it doesn't take any attachment. {file}
Here is the backtest with the default settings,
Attached Image (click to enlarge)
Click to Enlarge Name: Hoved_BT.png Size: 46 KB
Trading is the hardest way to make easy money...
  • #7
  • Dec 28, 2015 11:07am Dec 28, 2015 11:07am
Quoting hovedguy
Hey MathTrader, Thanks for your work. Appreciate it. As I see the bollinger deviation is kept 0,3 which is too narrow imo and its almost serving as a ma20. How does it perform with the default 1 deviation? Keeping the EA running only in high volatility EU n US sessions. I've put an additional time filter (server time). I tried to pm you but looks like it doesn't take any attachment. {file}
Here is the backtest of Hoved_renko_bb_macd_v1.ex4 with the default settings,
Attached Image (click to enlarge)
Click to Enlarge Name: Hoved_v1_BT.png Size: 47 KB
Trading is the hardest way to make easy money...
  • #8
  • Dec 28, 2015 11:14am Dec 28, 2015 11:14am
Quoting MathTrader7
{quote} Here is the backtest of Hoved_renko_bb_macd_v1.ex4 with the default settings, {image}

Thanks
  • #9
  • Dec 28, 2015 11:32am Dec 28, 2015 11:32am
Quoting hovedguy
{quote} Thanks
You're welcome! :-)
Trading is the hardest way to make easy money...
  • #10
  • Dec 29, 2015 2:04am Dec 29, 2015 2:04am
Hi hovedguy and all,

I have seen your system and looks great. Thanks.

My style is more close to scalping, and my renko size, well, 5 is too much for me, so I usually use 1 pip size. I have checked with other settings which much more my likes, so:
BB: as you said, 20,1
Awesome instead of Macd, same settings, 12,26. Awesome is like MACD but visually a bit better (for me at least)
Entry: conditions as you described above for bricks, but Awesome is green
TP: 6 pips
SL: 3 pips

short: reverse conditions

I cant put charts yet.

Best Regards and Happy New Year and lots of PIPS for 2016

Gonso
  • #11
  • Dec 29, 2015 2:21am Dec 29, 2015 2:21am
Quoting gonso
Hi hovedguy and all, I have seen your system and looks great. Thanks. My style is more close to scalping, and my renko size, well, 5 is too much for me, so I usually use 1 pip size. I have checked with other settings which much more my likes, so: BB: as you said, 20,1 Awesome instead of Macd, same settings, 12,26. Awesome is like MACD but visually a bit better (for me at least) Entry: conditions as you described above for bricks, but Awesome is green TP: 6 pips SL: 3 pips short: reverse conditions I cant put charts yet. Best Regards and Happy New...
Hey Gonso

Thanks for your suggestion. In case if you'd like to share some charts, you can reach me at [email protected]
  • #12
  • Dec 29, 2015 2:53am Dec 29, 2015 2:53am
Here's the EA with awesome indi as per Gonso's suggestion
Attached File(s)
File Type: ex4 Hoved_renko_bb_macd_v2.ex4   316 KB | 411 downloads
  • #13
  • Dec 29, 2015 6:57am Dec 29, 2015 6:57am
Quoting hovedguy
Here's the EA with awesome indi as per Gonso's suggestion {file}
Here is an optimized backtest on 10 pips and 2 pips Renko charts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Hoved_v2_10pips.png Size: 47 KB
Click to Enlarge Name: Hoved_v2_02pips.png Size: 51 KB
Trading is the hardest way to make easy money...
  • #14
  • Dec 29, 2015 7:01am Dec 29, 2015 7:01am
Hi MT

Thanks again....I don't think the existing rules are not strong enough to get the profit factor past 1.5
  • #15
  • Dec 30, 2015 2:50am Dec 30, 2015 2:50am
Hello fellows,

I've been trading primarily on H4 candle charts using the TSI and ADX indicators. After reading up on quite a few of the Renko threads on here, I decided to see if one of my systems could work on Renko. I've only manually back tested it but the results are quite interesting. In other words, I've morphed your hoveduy's system with one of mine. Let me know what you think and if it helps you out. Here is what I've done:

"Your system tweaked"

INDICATORS /EA USED

  1. Renko chart, 10pip (rather than your 5pip)
  2. ADX, 14 with a trigger set at 25
  3. TSI, 2, 4 with two triggers set at 75 and -75 (the 2 and 4 settings are crucial!)
  4. EMA 50
  5. EMA 12



FOR LONG TRADE



Condition A

  1. EMA 12 above EMA 50
  2. TSI below -75
  3. ADX above 25
  4. Enter at closing brick, as TSI passes back above -75 on a green brick



Exit

  1. TP, after two red bricks
  2. SL, two red bricks (20 pips)
  3. BE, set to break even after two candles in your direction have been formed




FOR SHORT TRADE

  1. Rules are exactly in the reverse manner


Let me know if you like it and if it can help you. I've made the adjustments because your original proposal had difficulties with false breakouts. Adding the EMA's, TSI and ADX should help your system and take out a lot of your losses. The 10pip adjustment should also help you filter out a lot of the losing trades.

I wish you all of you guys an outstanding 2016 and be sure to stay safe, set your SL's wisely and to stay patient!

Enjoy your day,
Shemski

When trading: "Empty your mind, be formless. Shapeless, like water."
  • #16
  • Jan 2, 2016 7:31am Jan 2, 2016 7:31am
Quoting Shemski
Hello fellows, I've been trading primarily on H4 candle charts using the TSI and ADX indicators. After reading up on quite a few of the Renko threads on here, I decided to see if one of my systems could work on Renko. I've only manually back tested it but the results are quite interesting. In other words, I've morphed your hoveduy's system with one of mine. Let me know what you think and if it helps you out. Here is what I've done: "Your system tweaked" INDICATORS /EA USED Renko chart, 10pip (rather than your 5pip) ADX, 14 with a trigger set at...
Hi Shemski

Thanks for your suggestion, let me check that out !!
  • #17
  • Jan 2, 2016 7:49am Jan 2, 2016 7:49am
I have done paper trade upon your suggestion....may be you can add some posts with winning results?

The 3rd one I see a big one
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 45 KB
  • #18
  • Jan 2, 2016 8:19am Jan 2, 2016 8:19am
Hi Hoved,

As mentioned before, I have only manually backtested it and am new to Renko.

Three things I've noticed on your chart:

1) your TSI indi uses candles rather than a line (shouldn't be an issue though)
2) are your ADX settings 4, 2? and also feel free to get rid of the DI+ and DI- lines, they are only in the way
3) just want to make sure, your brick size is 10, correct?


I use FXCM, Marketscope and they are currently doing some maintance so I won't be able to access my charts today. I'll send you some screen shots tomorrow.

According to your chart I see the folliwing trades:

1) minus 10 pips
2) minus 10 pips
3) plus 110 pips

My stoplosses are always -2 candles (which is-30pips) and I usually risk 1-1.5% of my portfolio per trade. In this case I'd be up around 3%/portfolio.

Shoot me a PM if you'd like to discuss in more detail.
When trading: "Empty your mind, be formless. Shapeless, like water."
  • #19
  • Jan 2, 2016 10:25am Jan 2, 2016 10:25am
Here ya go, three scenarios:

Pic 1) Fail; BE, -10pips, -10pips, -30 pips
Pic 2) Profit: -30pips, +100pips
Pic 3) Profit;100pips, -30 pips

Total losses; -110 pips
Total winners; +200 pips

8 trades, 1 BE, 5 losses and two very nice winners.

Lets assume my risk was 1.5% per position (3 bricks per position). My losses woudle been 5.5% of portfolio but profit but my profits at 3.33% and another 3.33%.

This si what a typical day could look like. The W/L ratio isnt the best but the tight SL's keep you afloat.

I willtry to get somemore screeshots up
Attached Image(s) (click to enlarge)
Click to Enlarge Name: renko_fail1.PNG Size: 76 KB
Click to Enlarge Name: renko_prof1.PNG Size: 71 KB
Click to Enlarge Name: renko_prof2.PNG Size: 74 KB
When trading: "Empty your mind, be formless. Shapeless, like water."
  • #20
  • Jan 2, 2016 10:34am Jan 2, 2016 10:34am
Now that I've shown you some of the lackluster trades, I'llshow you someof the resonably nice ones:

Pic1) Profit; 120 pips, 20 pips
Pic 2) Profit; 50 pips, 40 pips, -10pips

5 trades, 4 winners, 230 pips up, 10 pips down.

In this scenario, I would've made; 4%, 0.66%, 1.66%, 1.33% and loss .33%

7.33% over 10 trading days.

Let me know if you have anymore questions buddy
Attached Image(s) (click to enlarge)
Click to Enlarge Name: renko_prof3.PNG Size: 79 KB
Click to Enlarge Name: renko_prof4.PNG Size: 84 KB
When trading: "Empty your mind, be formless. Shapeless, like water."
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