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Attachments: TMS Renko Variant
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TMS Renko Variant

  • #21
  • Dec 12, 2014 9:07am Dec 12, 2014 9:07am
Quoting Gizzledonk
{quote} looking good, 'got to go and get kids etc now and am closing mt4 down for the day. will watch to see how your's pans out, good luck! GD
good luck, mine is another 5 hours to go before school is done
  • #22
  • Dec 12, 2014 9:20am Dec 12, 2014 9:20am
Quoting 0Bid
{quote} now breakeven. I'm using trailing stop 25pips {image}

hit the trailing stop "0 pip"
  • #23
  • Dec 12, 2014 8:26pm Dec 12, 2014 8:26pm
Thanks for starting the thread. Been trading Renko for some time. Your comments about the speed/performance of AAA LiveRenkoChart.v3.3x2 piqued my interest, but I am unable to get it to generate an offline chart. Does the market need to be open for this thing to work? Not so with the Renko indi that I currently use. Running MT4 Build 745. Symbol names have a suffix, so I set StrangeSymbolName = true. Any suggestions?
  • #24
  • Dec 12, 2014 9:51pm Dec 12, 2014 9:51pm
Quoting EasyRyder
Thanks for starting the thread. Been trading Renko for some time. Your comments about the speed/performance of AAA LiveRenkoChart.v3.3x2 piqued my interest, but I am unable to get it to generate an offline chart. Does the market need to be open for this thing to work? Not so with the Renko indi that I currently use. Running MT4 Build 745. Symbol names have a suffix, so I set StrangeSymbolName = true. Any suggestions?
Yes, market needs to be open.
  • #25
  • Dec 13, 2014 4:35am Dec 13, 2014 4:35am
Quoting EasyRyder
Thanks for starting the thread. Been trading Renko for some time. Your comments about the speed/performance of AAA LiveRenkoChart.v3.3x2 piqued my interest, but I am unable to get it to generate an offline chart. Does the market need to be open for this thing to work? Not so with the Renko indi that I currently use. Running MT4 Build 745. Symbol names have a suffix, so I set StrangeSymbolName = true. Any suggestions?
Hi,
Have not had any problem with this indi at all on a couple of different builds.
If you are trying to do initial setup with market closed you might need a tick generator - several are available on this site.
I did setups with market open so can't be specific.
I guess you might have to download some historical data perhaps.
You mention you are using a Renko INDI, LiveRenkoChart is an EA not an indi.

Good luck
Don't ask me, I have no idea what's going on.
  • #26
  • Edited 7:03am Dec 13, 2014 6:48am | Edited 7:03am
Thank you. I am using AAA...... as a EA. The one I am currently using is a commercial product and runs as an indi. Will try a tick generator over the weekend. Have lots of historical data downloaded. Been running Renko on-and-off for over 5 years. Been using it exclusively for the past year. My problem is I can only get good performance with two or less pairs loaded (8-pip bricks). The smaller the bricksize, the more cpu they take. Thanks again.
  • #27
  • Dec 13, 2014 7:08am Dec 13, 2014 7:08am
The more I trade Renko, the more I realize that the key to success is in picking the right pair(s) to trade on any given day, or perhaps on any given trading session. If the market is ranging (even if in a wide channel) someone in the food chain will take out your stop. The market must be going somewhere - trending with a purpose.
  • #28
  • Dec 13, 2014 8:59am Dec 13, 2014 8:59am
Tick generator did the job.
  • #29
  • Dec 13, 2014 10:46am Dec 13, 2014 10:46am
Quoting EasyRyder
The more I trade Renko, the more I realize that the key to success is in picking the right pair(s) to trade on any given day, or perhaps on any given trading session. If the market is ranging (even if in a wide channel) someone in the food chain will take out your stop. The market must be going somewhere - trending with a purpose.
Same here as well, seems that Renko is deceptively easy when conditions are just right, and it'll bite yer bum if they're not. Been doing backtesting all day and learning exactly that, although so far with this setup I'm in profit so it looks workable I think.
Don't ask me, I have no idea what's going on.
  • #30
  • Dec 13, 2014 11:14am Dec 13, 2014 11:14am
Have been trying to use currency strength to pick the pairs, but by the time I select a pair, the move is almost over. Going to try a different approach this week using T3 ma's and minimum slope. Will let you know if it is better.
  • #31
  • Dec 14, 2014 12:06pm Dec 14, 2014 12:06pm
Hi to Gizzle & others.

Got here through your posts on TMS.

Have you tried Renko with HeikenAshi? Together with the TDI they work pretty well. I have been playing with this for a few weeks with Bricks of 10 & 14.

The best thing is how the TDI follows a Bar colour change. Works good for breaking Trend lines. Even trading every TDI seems to come out ahead but best to avoid the ranges.

I am mainly a NInjaTrader user and the combination works well. I have tried using the smoothed Renko (new bar starts at 50% of previous but although they look nice the TDI does not confirm so well).

My only other concern is the fact that RENKO/HA does not always show true Hi/Lo which can be a problem on setting stops without checking another basic chart, but not a big issue.

Also using RENKO, alerts are pretty essential because of the unknown timescale. On NT you can set them to Bar Close which I cant find on MT4 and so too many alerts come through.

Cheers

Alan
  • #32
  • Dec 15, 2014 12:04pm Dec 15, 2014 12:04pm
"My only other concern is the fact that RENKO/HA does not always show true Hi/Lo which can be a problem on setting stops without checking another basic chart, but not a big issue."

If you leave the wicks on the Renko bricks, you will see the hi/lo.
  • #33
  • Dec 18, 2014 6:03am Dec 18, 2014 6:03am
'Been rather taken up with 'broker issues' for a couple of days, I just this minute got a mail saying they are processing my money back to me now, we'll see though. I'm not convinced at all.
http://www.forexfactory.com/showthre...48#post7952548

Anyway, to the Renko system, I have been taking a few trades over the last couple of days on it and have been reasonably successful. won a couple nicely, lost one on news I'd not allowed for and lost one 'cos it lost.

My current thoughts are that it is easy to use and workable, I enjoy using it a lot.
However,,,, I'm not sure yet that it is better than some other systems.
It's certainly 'slow' and a lot of info is hidden (as per the post above).
I will post a few charts again when I have some that are representative, (good and bad).
Don't ask me, I have no idea what's going on.
  • #34
  • Dec 18, 2014 12:07pm Dec 18, 2014 12:07pm
Quoting EasyRyder
"My only other concern is the fact that RENKO/HA does not always show true Hi/Lo which can be a problem on setting stops without checking another basic chart, but not a big issue." If you leave the wicks on the Renko bricks, you will see the hi/lo.
Thanks, it may be an NT thing but the true price hi/lo mmostly do not match the RENKO/HA wicks, there is a lot of chat on the NT site.

Cheers

Alan
  • #35
  • Feb 4, 2015 8:10am Feb 4, 2015 8:10am
I am no longer pursuing this method as I have completely failed to make it any better than systems I am already using and I can't see that it would become sufficiently better to merit the time and effort.

I am currently using the TMS system (Trading Made Simple - a thread on this site) which I use on H4 charts. I am migrating more and more to pure price action with support and resistance on bare (or nearly bare) charts using pending orders.

If you're working with Renko - 'hope it works out for you.

Don't ask me, I have no idea what's going on.
  • #36
  • Feb 4, 2015 8:30am Feb 4, 2015 8:30am
Thanks Gizzledonk,

I too am following TMS and improving my PA knowledge before I start in earnest.

Although I am now not following a Renko system, I do hope to return to it as feel it may help provide entries once a PA signal/confirmation is established, but that's down the line aways.

Good luck to you.

Cheers

Alan
  • #37
  • Jun 9, 2015 12:46pm Jun 9, 2015 12:46pm
Can someone explain to me the system/strategy? I'm new and not familiar with the indi the one below the chart. please and thank you.
  • #38
  • Last Post: Jun 9, 2016 6:07am Jun 9, 2016 6:07am
After a good examination and test I concluded this method adds nothing significant to the original.
I got bored with it actually.
Don't ask me, I have no idea what's going on.
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