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Renko Trading Discussion

  • #241
  • Dec 28, 2015 6:34pm Dec 28, 2015 6:34pm
hey mathtrader, whats the best indicatorin your opinion to use on renko if you dont mind me asking ?
  • #242
  • Dec 28, 2015 7:10pm Dec 28, 2015 7:10pm
Quoting MathTrader7
{quote} Here is Version 1.01 of the EA. In this version the user can enable/disable MA filter. @Pelug: What do you mean "Manual Breakeven"?

Thank you, example, if the price moves +10 pips sl to be
  • #243
  • Dec 29, 2015 6:39am Dec 29, 2015 6:39am
Quoting metta87
hey mathtrader, whats the best indicatorin your opinion to use on renko if you dont mind me asking ?
In my opinion, Bollinger Bands indicator is the best statistical metrics (moving average as well as standard deviation) that can be used for developing a profitable Renko trading system.
Trading is the hardest way to make easy money...
  • #244
  • Edited 7:28am Dec 29, 2015 7:15am | Edited 7:28am
Quoting Peluq
{quote} Thank you, example, if the price moves +10 pips sl to be
Hi Peluq!

I added move to breakeven, and here is a backtest result. Attached is Version 1.10 of the EA.

Best,
Math
Attached Image (click to enlarge)
Click to Enlarge Name: RenkoMartinezEA_v110.png Size: 48 KB
Attached File(s)
File Type: ex4 MathTrader7_RenkoMartinezEA.ex4   136 KB | 696 downloads
Trading is the hardest way to make easy money...
  • #245
  • Dec 29, 2015 9:42am Dec 29, 2015 9:42am
Quoting MathTrader7
{quote} Hi osfx, It seems that the EA couldn't recognize the chart as a non-gap Renko chart... Best, Math
Hi Math,

thanks for clarification. It would be great, if you considered a simple alert instead of a hard break in future versions .

Oliver
  • #246
  • Dec 29, 2015 10:55am Dec 29, 2015 10:55am
Quoting MathTrader7
{quote} Hi Peluq! I added move to breakeven, and here is a backtest result. Attached is Version 1.10 of the EA. Best, Math {image} {file}
Great job you're doing here man....
  • #247
  • Dec 29, 2015 11:08am Dec 29, 2015 11:08am
Quoting hovedguy
{quote} Great job you're doing here man....
You're welcome! :-)
Trading is the hardest way to make easy money...
  • #248
  • Dec 29, 2015 11:25am Dec 29, 2015 11:25am
Quoting MathTrader7
{quote} Hi Peluq! I added move to breakeven, and here is a backtest result. Attached is Version 1.10 of the EA. Best, Math {image} {file}
Hello Math,

What is the renko brick size on this breakeven EA?
  • #249
  • Dec 29, 2015 11:27am Dec 29, 2015 11:27am
Quoting GoldTheHun
{quote} Hello Math, What is the renko brick size on this breakeven EA?
Hi GoldTheHun,

I always use 10 pips Renko for backtesting, unless I mention something else.

Best,
Math
Trading is the hardest way to make easy money...
  • #250
  • Dec 29, 2015 11:35am Dec 29, 2015 11:35am
Math, thank you for sharing your strategies, ideas and tests using Renko! I noticed that in every backrest that I have seen you are using EURUSD. Any specific reason? Are you trading or have you tested other pairs?
  • #251
  • Dec 29, 2015 11:35am Dec 29, 2015 11:35am
Quoting MathTrader7
{quote} Hi GoldTheHun, I always use 10 pips Renko for backtesting, unless I mention something else. Best, Math
non gap renko?
  • #252
  • Dec 29, 2015 11:36am Dec 29, 2015 11:36am
Quoting MathTrader7
{quote} Hi GoldTheHun, I always use 10 pips Renko for backtesting, unless I mention something else. Best, Math
Thanks a lot Math. One more question: In the BE backtest how many pips does the EA to move the SL to breakeven?
  • #253
  • Dec 29, 2015 11:39am Dec 29, 2015 11:39am
Quoting hovedguy
{quote} non gap renko?
Yes, I always use non-gap Renko charts for backtesting and live/demo trading.
Trading is the hardest way to make easy money...
  • #254
  • Edited 12:01pm Dec 29, 2015 11:40am | Edited 12:01pm
Quoting GoldTheHun
{quote} Thanks a lot Math. One more question: In the BE backtest how many pips does the EA to move the SL to breakeven?
For the fist 100 points of profit, the EA moves the SL to open price +/- 70 points (+/- depending on the trade type, Buy/Sell).
Trading is the hardest way to make easy money...
  • #255
  • Dec 29, 2015 12:10pm Dec 29, 2015 12:10pm
Quoting MathTrader7
{quote} For the fist 100 points profit, the EA moves the SL to 70 points.

Thanks once again Math,

The reason why I asked this is that backtester could be making mistakes because the SL to breakeven is only %70 of the brick.

According to my experiences with the backtester is that trailing stops, or inside the bar stops are bound to make so many mistakes because of mt4 not using actual ticks. So this causes the results of the backtests artificially positive. I am not saying this only for renko bars, regular candles are effected same way also.

I would suggest to make the SL as full brick size, possibly jumping stops with every new bar formed, never within the bar...
  • #256
  • Edited 1:04pm Dec 29, 2015 12:48pm | Edited 1:04pm
Quoting GoldTheHun
{quote} Thanks once again Math, The reason why I asked this is that backtester could be making mistakes because the SL to breakeven is only %70 of the brick. According to my experiences with the backtester is that trailing stops, or inside the bar stops are bound to make so many mistakes because of mt4 not using actual ticks. So this causes the results of the backtests artificially positive. I am not saying this only for renko bars, regular candles are effected same way also. I would suggest to make the SL as full brick size, possibly jumping stops...
What you say is correct.

For backtesing an EA on regular time frames I usually use "Every Tick" mode with real ticks. This avoids the problem you mentioned.

For backtesting EAs on Renko charts with real ticks, there is no trivial solution for. In the absense of real ticks, I use "Control points" mode to perform a rough backtest of the Renko strategy/EA. If I am eager to explore further the performance of the EA, I modify the EA such that it creates Renko bricks into the memory and applies indicators calculations to the saved bricks in the memory. This way, I will be able to use real ticks to more accurately test the EA/Strategy.

Best,
Math
Trading is the hardest way to make easy money...
  • #257
  • Dec 29, 2015 1:05pm Dec 29, 2015 1:05pm
Quoting MathTrader7
{quote} What you say is correct. For backtesing an EA on regular time frames I usually use "Every Tick" mode with real ticks. This avoids the problem you mentioned. For backtesting EAs on Renko charts with real ticks, there is no trivial solution for. In the absense of real ticks, I use "Control points" mode to perform a rough backtest of the Renko strategy/EA. If I am eager to explore further the performance of the EA, I modify the EA such that it creates Renko bricks into the memory and applies indicators calculations to. This way, I will be able...
Thanks for the answer. I would suggest a method to verify what you are doing works exactly as your intentions. Create a renko chart using 100 pips box size and in visual backtester watch how the price moves within 1 bar, and verify the same price movement looking at the 1 minute chart.
If they both look identical than mt4 is working in parallel with your logic. If not, that means mt4 is not using the ticks as intended.

Just my 2 cents to make sure that mt4 works correct in simulating offline charts during backtesting.
  • #258
  • Dec 29, 2015 1:14pm Dec 29, 2015 1:14pm
Quoting lcoff
Math, thank you for sharing your strategies, ideas and tests using Renko! I noticed that in every backrest that I have seen you are using EURUSD. Any specific reason? Are you trading or have you tested other pairs?
You're welcome! :-)

I use EURUSD for backtesting mostly because my broker provides the smallest spread on this pair, and I trade this major pair live.

Best,
Math
Trading is the hardest way to make easy money...
  • #259
  • Dec 29, 2015 7:06pm Dec 29, 2015 7:06pm
Hi, Math !!!
I've just back test Mathtrader7_RenkoTapYoungEA in EURUSD. I adjust the Take Profit to 10 pips because i'm using 4 digit broker. is it ok to adjust the Take profit and lot size ?? Why there are many locking position (Buy 10 position and sell 19 position) and why take profit was not hit ? because in opinion...some position had already make profit for 10 pips. thanks...( very sorry for my english )
  • #260
  • Dec 30, 2015 4:53pm Dec 30, 2015 4:53pm
I have been playing with Renko charts and specifically Math's Multi-Symbol Renko Chart Creator. Here is the (likely useless) information that I have learned today:

  1. I was originally concerned that running multiple offline charts along with the Chart Creator EA would use a lot of resources. This is definitely not the case. In the attached screenshot I am running the Chart Creator EA with 13 renko charts and an additional EA that I wrote today. Memory usage is at 190mb and I have yet to see CPU usage go above 2%.
  2. It is possible to have an EA access indicator data from external offline charts. Just use the timeframe of the offline chart.
  3. Using MQL alone you cannot open an offline chart and uncheck the offline box, although you can programmatically check to see that the chart is open and the offline box is unchecked. Just check that ChartGetInteger(ChartID,CHART_IS_OFFLINE) is false. (Might be a nice addition to the Renko Chart Creator).
  4. The more I use Renko charts the more that I like them.


I am currently testing Renko charts using the Quantum indicator from the Quantum London Trading thread. I have the indicator set to a value of 20. This indicator just displays when a bar is the highest high or lowest low in the set period. For this strategy I am opening a sell trade when a red box is displayed, provided that it is displayed on an up candle. Each subsequent red box I open an additional sell trade that is a little larger than the previous. When a blue box is displayed I close all of the sell trades. Buy trades are just the opposite.

I know that this system involves a lot of averaging down and runs without stops, but I am running it with extremely small trade sizes so this is really not an issue.
Now I just have to figure out how to backtest Renko bars. I have been considering purchasing the Omnia Bar Collection from OVO.cz. Anyone have any experience using their scripts in backtesting?

Attached Image (click to enlarge)
Click to Enlarge Name: QuantumRenko.jpg Size: 243 KB
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