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Renko Trading Discussion

  • #381
  • Feb 12, 2016 12:36pm Feb 12, 2016 12:36pm
Quoting pgburty
I am testing Renko with Heiken Ashi on different time frame charts , the one attached is on a 4hour chart, it works , nice and simple.. Has anyone else tried different time frames ? {image}
hmm i think with renko its better to stick with the lowest timeframe possible.
  • #382
  • Feb 12, 2016 5:46pm Feb 12, 2016 5:46pm
Quoting metta87
{quote} hmm i think with renko its better to stick with the lowest timeframe possible.
exactly, and the more if you will analyze renko charts
  • #383
  • Feb 13, 2016 2:59am Feb 13, 2016 2:59am
Quoting miro1360
{quote} exactly, and the more if you will analyze renko charts
hello,
I appreciate what you are saying , but what I am looking for is a simple 10/20 pips a day ( or more if it works that way ), I have analysed normal 15/30/1hr charts, used any number of indicators , but the 4 hour Renko is simple so I will let you know my results if you're interested. I am in this for the monetary rewards, not to constantly be checking levels . Life's too short for worry and stress.
  • #384
  • Feb 13, 2016 4:32am Feb 13, 2016 4:32am
Quoting pgburty
{quote} hello, I appreciate what you are saying , but what I am looking for is a simple 10/20 pips a day ( or more if it works that way ), I have analysed normal 15/30/1hr charts, used any number of indicators , but the 4 hour Renko is simple so I will let you know my results if you're interested. I am in this for the monetary rewards, not to constantly be checking levels . Life's too short for worry and stress.
Hello,

What you see as a Renko chart created from H4 history data won't reflect the true Renko bars you would see if you let a Renko builder EA built it from real live ticks. Simply put, it doesn't work in practice.

Best,
Math
Trading is the hardest way to make easy money...
  • #385
  • Feb 13, 2016 5:55am Feb 13, 2016 5:55am
Quoting MathTrader7
{quote} Hello, What you see as a Renko chart created from H4 history data won't reflect the true Renko bars you would see if you let a Renko builder EA built it from real live ticks. Simply put, it doesn't work in practice. Best, Math
Post 380 , is a Demo Account live trade , price did continue up to around 1.45203, so how does it not work ?

Also attached is a Demo live trade, Renko with Heiken Ashi on a 30 minute chart , this worked , or did it not ?

I am just testing these , am I missing something ?
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenShot_20160211204455.png Size: 121 KB
  • #386
  • Feb 13, 2016 8:54am Feb 13, 2016 8:54am
Quoting miro1360
{quote} exactly, and the more if you will analyze renko charts
sorry what do you mean miro ?
  • #387
  • Feb 13, 2016 9:15am Feb 13, 2016 9:15am
Quoting metta87
{quote} sorry what do you mean miro ?
only agree with your reply, when one will create trading strategy using history renko chart, he need real ticks (all ticks) ...
  • #388
  • Feb 17, 2016 1:11pm Feb 17, 2016 1:11pm
I have taken advice from you all and got rid of my Renko 4 hours and 30 min charts, I am now on 1min chart with 10 pip Renko.. Should be easy now to get my 10/20 pips a day,, just a shame I go to work at 7am and get home at 6pm..
Attached Image (click to enlarge)
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  • #389
  • Feb 17, 2016 1:20pm Feb 17, 2016 1:20pm
Quoting pgburty
I have taken advice from you all and got rid of my Renko 4 hours and 30 min charts, I am now on 1min chart with 10 pip Renko.. Should be easy now to get my 10/20 pips a day,, just a shame I go to work at 7am and get home at 6pm.. {image}

Can you run through what is on your chart and how you use it to trade please? Looks interesting.
  • #390
  • Feb 17, 2016 1:30pm Feb 17, 2016 1:30pm
Quoting pgburty
I have taken advice from you all and got rid of my Renko 4 hours and 30 min charts, I am now on 1min chart with 10 pip Renko.. Should be easy now to get my 10/20 pips a day,, just a shame I go to work at 7am and get home at 6pm.. {image}
Now, you are on the right track!
Trading is the hardest way to make easy money...
  • #391
  • Feb 17, 2016 2:28pm Feb 17, 2016 2:28pm
Quoting Colly1980
{quote} Can you run through what is on your chart and how you use it to trade please? Looks interesting.
The Renko Bars are Range Bars, I got them from here : http://www.forexfactory.com/showthread.php?p=8754651#post8754651, I over lay Heiken Ashi onto them and make the colours match. You don't need Heiken Ashi, I just like them.

The MacD I got from here ..
Its The Slots Macd and can be found here ;
CCi Non Lag Page 4 , Post 74
http://www.forexfactory.com/showthre...=538817&page=4
Change the Macd settings from 12,26,9 to 5,35,5.
I change the colours to match my candles , by making 0 and 1, white, 2 and 3 green, 4 Yellow and 5 , White, Don't forget to "Allow Dll Imports"

I have overlaid a CCi , the Red Line , added a zero line , period 14, this is a standard indicator on MT4, to overlay it , Control N, and click on CCi and drag it over the Macd.

The Moving Averages are a 21EMA, and a 7 LWA, Shift 1, Open, and a 7 LWA Shift 0, Close.

The Indicators guide you , just look at the chart, the CCi crossing through the zero line up or down and continuing past the 100 or -100, the lines on the Macd, match the Moving Averages, obviously better when there is more volume in the market. On the Gbp/Usd chart in my last post , the move up 70 pips shows all this working.
  • #392
  • Feb 19, 2016 8:51pm Feb 19, 2016 8:51pm
Hello,

This My Result on this Week 15-19_Feb_2016. MT7_Renko_ADX_EA_v1.32 at 21 Chart With Multi_Renko_Chart_Creator v1.27

Info Account:
Demo FBS Standard
Initial Balance 500
Leverage 1:500
Lot 0.01

Attached Image


Attached Image (click to enlarge)
Click to Enlarge Name: History.jpg Size: 222 KB


Attached Image (click to enlarge)
Click to Enlarge Name: ADX_Result.jpg Size: 95 KB


Attached File(s)
File Type: zip Renko_ADX_DetailedStatement 15-19_Feb_2016.zip   23 KB | 445 downloads


  • #393
  • Feb 22, 2016 7:00am Feb 22, 2016 7:00am
Quoting MathTrader7
Version 1.41 of Non-gap Renko Chart Creator EA released. This version is compiled and tested on MetaTrader 4 Build 890
Great EA Mathtrader7! Only one question... I am using my own EA on an offline chart ( made with a EA_RenkoBuilder - by Verified ) and the Trailing SL is not working... do you have any idea why is that happening?

Thank you in advance!
Seize your trading!
  • #394
  • Feb 22, 2016 1:06pm Feb 22, 2016 1:06pm
hello ,, I have just started to use the Renko's and I am a little confused , attached charts are GBP/JPY , on left is a normal Heiken Ashi 30 minute , and the one on the right 10 pip Renko should correspond , they are both matching on price , the 30 minute started going up at around 2:30 with a reasonable move and the Renko is not matching , though the price is . Am I missing something , and can anyone recommend a good Renko to use ?
Attached Image (click to enlarge)
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  • #395
  • Feb 22, 2016 1:09pm Feb 22, 2016 1:09pm
Quoting pgburty
hello ,, I have just started to use the Renko's and I am a little confused , attached charts are GBP/JPY , on left is a normal Heiken Ashi 30 minute , and the one on the right 10 pip Renko should correspond , they are both matching on price , the 30 minute started going up at around 2:30 with a reasonable move and the Renko is not matching , though the price is . Am I missing something , and can anyone recommend a good Renko to use ? {image}
hello! Everything is fine but as you can see the renko is m2 therefore time will not be the same as the renko uses price action and not the time interval. So don't worry
Seize your trading!
  • #396
  • Feb 22, 2016 2:46pm Feb 22, 2016 2:46pm
Quoting pgburty
hello ,, I have just started to use the Renko's and I am a little confused , attached charts are GBP/JPY , on left is a normal Heiken Ashi 30 minute , and the one on the right 10 pip Renko should correspond , they are both matching on price , the 30 minute started going up at around 2:30 with a reasonable move and the Renko is not matching , though the price is . Am I missing something , and can anyone recommend a good Renko to use ? {image}
Well, it is hard to see when you have all the candles hidden behind the HA.
But something seems missing from your Renko. I have it like that (GMT+2):

Attached Image (click to enlarge)
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  • #397
  • Feb 22, 2016 3:03pm Feb 22, 2016 3:03pm
Quoting Halley
{quote} Well, it is hard to see when you have all the candles hidden behind the HA. But something seems missing from your Renko. I have it like that (GMT+2): {image}
The Heriken Ashi just helps , this is the chart just Renko ... I need to get this right as I have 2 weeks off work and intend to make the best of that time.. so any help is greatly appreciated.
Attached Image (click to enlarge)
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  • #398
  • Feb 23, 2016 1:03am Feb 23, 2016 1:03am
Quoting kissadameu
{quote} hello! Everything is fine but as you can see the renko is m2 therefore time will not be the same as the renko uses price action and not the time interval. So don't worry
Thank you for that , is there a best setting M2 , M4 etc and a best Renko, ? or does it not matter ?
  • #399
  • Feb 23, 2016 1:19am Feb 23, 2016 1:19am
Quoting pgburty
{quote} Thank you for that , is there a best setting M2 , M4 etc and a best Renko, ? or does it not matter ?
The offline timeframe does not mater, just keep it under 240 to preserve the daily separators.
  • #400
  • Feb 23, 2016 2:27am Feb 23, 2016 2:27am
Quoting Halley
{quote} The offline timeframe does not mater, just keep it under 240 to preserve the daily separators.
Yes Halley is totally right. Personally I like m2 for my EAs to work on it.
Seize your trading!
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