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Lets Automate a Simple Renko Strategy!

  • #1,741
  • Jul 12, 2016 8:52am Jul 12, 2016 8:52am
The problem is, Renko trading to automate is very difficult

- I trade Renko boxes manually with 2 or 3 Indicators and medium boxes
not more Indicators, this is OK
  • #1,742
  • Jul 12, 2016 12:12pm Jul 12, 2016 12:12pm
Quoting sevan62
{quote} Yes tkhan011, i'm a coder And you are welcome with your ideas.
Hi sevan, thank you for the reply, i would really appreciate the help with coding the following EA

This EA only requires one main feature- very flexible, user defined multiple pending order based auto-trading function, whether it be buy/sell stop or buy/sell limit, and each pending order with it's own user definable lot size(0.01-10,000), stop loss, take profit, trailing stop loss, slippage, and close previous and/or pending order/orders function for each individual pending order (user definable to close either all pending and/or all previous orders, and possible to have option to choose which previous/pending order/orders to close or remain open?) by default all orders will have a value of '0' to keep them inactive unless assigned a value by user

Am trying to figure out what the EA should do in event of all orders whether pending or previous are closed, this would be based on either opposite color renko brick or any user defined price level, should it restart the process from first order in opposite direction or stop-trading till user enters new trading parameters?

And on option to just place new buy or sell orders at either tp, sl or tsl level with incremental increase or decrease in lot sizes,
like if first order is placed at 0.5 lot, then after 20 pips if sl not hit new buy order placed at 0.6 and so on
or, first order placed at 0.5 lot, then next order placed 0.7, then 0.9
reverse, first order placed at 2.0, then 1.9, then 1.8
or first order placed 2.0, then 1.8. then 1.6

Is there a way for the EA to have an option like 'create new pending order' which would just create as many orders as required by the user with all the above mentioned functions ? This would eliminate the EA being limited to a set number of orders like 20 or 50, i don't know if this is possible?

I am trying to cover all possibilities, and this EA will be independent of trending, ranging or sideways markets, although it might not work well in sideways markets depending on user defined parameters. There is no need to add any other indi's like MA's or RSI or Stoch for entries or exits as that would defeat the purpose of this EA, this will be left on visual determination, knowledge and preference of trader

This EA can have endless number of possible scenario's and examples, in theory it's simplicity can give birth to testing many many different trading styles, from scalping to day trading, being dependent on or not on the renko brick size. or the renko chart just being used as a visual aid, all depends on the user preference

I hope really this isn't asking too much, please fell free to add any value to this EA and ask anything that needs clarification. Thank you for your time and effort
I am trying to cover all possibilities, and this EA will be independent of trending, ranging or sideways markets, although it might not work well in sideways markets depending on user defined parameters. There is no need to add any other indi's like MA's or RSI or Stoch for entries or exits as that would defeat the purpose of this EA, this will be left on visual determination, knowledge and preference of trader

If this EA is not feasible, i have a different version which i can explain with examples
  • #1,743
  • Jul 12, 2016 1:49pm Jul 12, 2016 1:49pm
Quoting tkhan011
{quote} Hi sevan, thank you for the reply, i would really appreciate the help with coding the following EA This EA only requires one main feature- very flexible, user defined multiple pending order based auto-trading function, whether it be buy/sell stop or buy/sell limit, and each pending order with it's own user definable lot size(0.01-10,000), stop loss, take profit, trailing stop loss, slippage, and close previous and/or pending order/orders function for each individual pending order (user definable to close either all pending and/or all previous...
Hi tkhan011, thanks for your contribution but unfortunately i have to disappoint you. I have experimented alot with grid-trading techniques and Martingale long time ago. The main lesson of these experiments was that these methods can't help to make consistent profit in long run. What is more they are too risky. Now i mostly focused in looking for the perfect entry and exit points. It helps to gain pips. And only pips gain leads to safe consistent profit.
BR, alex
  • #1,744
  • Jul 12, 2016 4:47pm Jul 12, 2016 4:47pm
Quoting sevan62
{quote} Hi tkhan011, thanks for your contribution but unfortunately i have to disappoint you. I have experimented alot with grid-trading techniques and Martingale long time ago. The main lesson of these experiments was that these methods can't help to make consistent profit in long run. What is more they are too risky. Now i mostly focused in looking for the perfect entry and exit points. It helps to gain pips. And only pips gain leads to safe consistent profit.
Hi sevan, thanks for the prompt reply as usual

I think you may have misunderstood, i guess due to my explanation. I have been trading forex for almost 5yrs and working with renko charts for more than a year now, and i use many other indi's to determine entries and exits while also looking at 4-8 different charts and tf's, even if i were to test hedging or martingale theory that would just be a small aspect of the vast possibilities of what i would like to test. I just need automated trading as the market reacts faster than my hand and manual trading is too time intensive, not possible with a day job

Let me try and explain some of the aspects i would like to be testing, for all examples we assume renko brick at 10 pips

Scenario 1: Buy order at 0.5 lot with tsl 20 pips, next brick new buy order placed 0.5 lot same tsl, repeat, repeat, repeat, new renko brick formed in opposite direction, all pending orders deleted and all previous buy orders closed and new sell order placed with 0.5 lot and same 20 pip tsl, repeat, repeat, repeat, repeat, new renko brick formed in opposite direction, all pending orders deleted and all previous sell orders closed and new buy order with tsl 20 pips placed, and so on

Scenario 2: buy order at 0.5 lot with tp 10 pips sl 20 pips, tp hit new buy order placed with same values, repeat, repeat, repeat, new renko brick formed in opposite direction sl hit, new sell order placed with same values, repeat repeat and so on, basically trading each individual brick

Scenario 3: buy order 0.5 lot placed tp 20 pips tsl 20, new buy order 0.6 lot tp 10 pips sl 20 pips, tp hit on next brick for both previous orders and two bricks cashed in, repeat. if sl hit then new sell order placed with same parameters and so on(first buy order to be left open if still active or close with loss as defined in parameters by user)

Scenario 4: buy order placed with 0.5 lot and tsl 20 pips, new brick formed and new buy order at 0.6 lots placed with tsl 20 pips, new brick formed new buy order placed 0.7 lot tsl 20 pips, repeat with 0.8 lot, repeat with 0.9 lot, repeat with 1.0 lot, new brick formed in opposite direction all previous orders closed and new sell order placed with same values and so on, basically trading each individual brick but with tsl so all placed orders close upon brick reversal
(For this scenario, i was hoping to be able to set definable lot increments whether in increasing or decreasing order like 0.5 0.7 0.9 or 2 1.8 1.6 or 1.1, 1.4, 1.7 etc)

Scenario 5: buy order placed with 0.5 lot tp 40 pips sl 50 pips, repeat with 0.6 lot 30 pip tp sl 40 pips, repeat 0.7 with 20 pip tp 30 pip sl and so on
Again, this would require user definable incremental lot sizes whether increasing or decreasing

As you can see the possibilites are endless, but testing all this manually will take months and hundreds of hours, I would greatly appreciate your help in this matter, it may seem redundant from your experience but i want you to understand there are many things i would like to try and a little help from you would go a really long way in saving me countless hours infront of my laptop, my gf would thank you too lol

As stated in the previous post, this EA would have to have all the mentioned user definable features i mentioned in order to be flexible enough to fit in any desirable scenario, albeit this would require a lot of manual setting of said parameters but once i have tested all possible scenario's i can surely simplify and make it more efficient, I will post the most profitable results and settings i used for all users to use as they please. As a scalper am all about bagging as many opportune pips as quickly as possible, but there are other trading styles i have tried and would like to expand my taste in trading

There is an addition to the proposed EA i would like to add, whether possible to tell EA to trade on second or third brick in same direction in event of sl or tsl being hit for previous order/orders. Basically if renko brick is formed in opposite direction, to wait one or two more bricks before placing the user defined set of orders

I humbly request your help and thank you for all your time and effort thus far
  • #1,745
  • Jul 12, 2016 5:50pm Jul 12, 2016 5:50pm
Quoting tkhan011
{quote} Hi sevan, thanks for the prompt reply as usual I think you may have misunderstood, i guess due to my explanation. I have been trading forex for almost 5yrs and working with renko charts for more than a year now, ...
Hi tkhan011, unfortunately i don't see any advantage in your approaches. You are trying to build winning position paying no attention to entry and exit points.
Scenario 1 will win in strong trend but will lose more than gained during range market.
Scenario 2 has no logic because we'll lose on spread closing and opening positions one after another.
. . .
Sorry mate but i'm focused on looking for the best entry and exit points as i've stated above.
BR, alex
  • #1,746
  • Jul 12, 2016 6:16pm Jul 12, 2016 6:16pm
Quoting sevan62
{quote} Hi tkhan011, unfortunately i don't see any advantage in your approaches. You are trying to build winning position paying no attention to entry and exit points. Scenario 1 will win in strong trend but will lose more than gained during range market. Scenario 2 has no logic because we'll lose on spread closing and opening positions one after another. . . . Sorry mate but i'm focused on looking for the best entry and exit points as i've stated above.
Hi Sevan, the original EA you wrote for this strategy RenkoSimple.ex4 . I really like the way it enters trades but it exits as soon as a brick changes color and has bumped me out of many good trades. If its not too much trouble could you disable that exit and add a TP and SL user defined entry and maybe a trailing stop loss function. Only if its not too much trouble, I know you have done alot of work on this thread already. Thanks.
  • #1,747
  • Jul 12, 2016 11:39pm Jul 12, 2016 11:39pm
Quoting sevan62
{quote} Just now experimenting with the idea how to avoid big losses in heavy trending market with RenkoVdub EA. I apply EMA200 to renko chart. When EMA200 is between the upper and lower boarders of VdubPivotChannel i consider we are in FLAT (ranging) market. When the lower boarder of VdubPivotChannel is higher than EMA200 i consider we are in UP trend. When the upper boarder of VdubPivotChannel is lower than EMA200 i consider we are in DOWN trend. Trade setup for LONG entry: From the lower boarder of VdubPivotChannel During RANGE maret: it is Conservative...
Looking forward to it
  • #1,748
  • Jul 13, 2016 12:27am Jul 13, 2016 12:27am
Quoting ghostbiker
The problem is, Renko trading to automate is very difficult - I trade Renko boxes manually with 2 or 3 Indicators and medium boxes not more Indicators, this is OK
I think its ok.
  • #1,749
  • Jul 13, 2016 3:35am Jul 13, 2016 3:35am
Quoting thorn
{quote} Hi Sevan, the original EA you wrote for this strategy RenkoSimple.ex4 . I really like the way it enters trades but it exits as soon as a brick changes color and has bumped me out of many good trades. If its not too much trouble could you disable that exit and add a TP and SL user defined entry and maybe a trailing stop loss function. Only if its not too much trouble, I know you have done alot of work on this thread already. Thanks.
Hi thorn,
i'll implement your ideas and upload new EA version soon.
BR, alex
  • #1,750
  • Jul 13, 2016 6:43am Jul 13, 2016 6:43am
Dear mates, maybe somebody has source code of Vdub_Pivot_Channel.mq4 indicator?
It is necessary to fix its lagging coding algorithm.
Attached Image (click to enlarge)
Click to Enlarge Name: pivott.jpg Size: 126 KB
BR, alex
  • #1,751
  • Jul 13, 2016 6:56am Jul 13, 2016 6:56am
hello Sir ,
Do you this at scalping method ?

but nice i want to try it thanks
onorebate
  • #1,752
  • Jul 13, 2016 7:03am Jul 13, 2016 7:03am
Quoting putrimawarfx
hello Sir , Do you this at scalping method ? but nice i want to try it thanks
Hi putrimawarfx,
You are welcome.
There are different renko strategies discussed in this topic but i believe no one of renko based strategies may be considered as scalping.
BR, alex
  • #1,753
  • Jul 13, 2016 7:36am Jul 13, 2016 7:36am
Quoting sevan62
At the moment imho more promissing looks another my "Simple Renko Strategy" EA. It is RenkoVdub. You may try and compare it with previous one. It needs to have Vdub_Pivot_Channel indicator in your MQL4/Indicators folder. You may also attach it to your charts for visualization. {file} {file} Less than one month results with constant 0.1 lot. {file} {image}
Hi Sevan62,
I really like you EA and tested it on AJ/EU, so far. Result seems promising although trade rate is low but bottom line it delivers result. I notice it does not have SL and TP when it open trades, will you plan to add that functionality in the future? Also I would like to know if there's any element of Martingale in the EA because I have to confess I had blown real account (although not big acc.) with EA based on martingale system. I'm not sure you are willing to share the MQ4 file as well but in summary if it had features such as below is really great:
1. TP/SL for open trades
2. Push notification option
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 55 KB

Thanks again for the great work.
  • #1,754
  • Jul 13, 2016 8:03am Jul 13, 2016 8:03am
Quoting thorn
{quote} Hi Sevan, the original EA you wrote for this strategy RenkoSimple.ex4 . I really like the way it enters trades but it exits as soon as a brick changes color and has bumped me out of many good trades. If its not too much trouble could you disable that exit and add a TP and SL user defined entry and maybe a trailing stop loss function. Only if its not too much trouble, I know you have done alot of work on this thread already. Thanks.
Here you go sir.
Current EA version RenkoSimple has static SL/TP in points and optional Trail Stop function which utilizes hidden brick size trail by bar close. It makes back-testing more correct. Please test it and report your results.
Attached File(s)
File Type: ex4 RenkoSimple.ex4   14 KB | 668 downloads
BR, alex
  • #1,755
  • Jul 13, 2016 8:23am Jul 13, 2016 8:23am
Quoting laikos
{quote} Hi Sevan62, I really like you EA and tested it on AJ/EU, so far. Result seems promising although trade rate is low but bottom line it delivers result. I notice it does not have SL and TP when it open trades, will you plan to add that functionality in the future? Also I would like to know if there's any element of Martingale in the EA because I have to confess I had blown real account (although not big acc.) with EA based on martingale system. I'm not sure you are willing to share the MQ4 file as well but in summary if it had features such...
Thanks for your back-tests and investigations mate. EA RenkoVdub is under development yet. There are some issues with Vdub_Pivot_Channel indicator as i've reported above. Of course TP & SL are to be implemented as well as brick size trailing. As to Martingale i've terminated all my experiments with it about 15 years ago already and not going to start them again.
BR, alex
  • #1,756
  • Jul 13, 2016 8:47am Jul 13, 2016 8:47am
@sevans62

you have right, Martingale and Renko Boxes EA ist not a option
  • #1,757
  • Jul 13, 2016 9:28am Jul 13, 2016 9:28am
Quoting sevan62
{quote} Thanks for your back-tests and investigations mate. EA RenkoVdub is under development yet. There are some issues with Vdub_Pivot_Channel indicator as i've reported above. Of course TP & SL are to be implemented as well as brick size trailing. As to Martingale i've terminated all my experiments with it about 15 years ago already and not going to start them again.
hey sevan,
does the Vdub_pivot chanel repaint ?
  • #1,758
  • Jul 13, 2016 9:42am Jul 13, 2016 9:42am
Quoting metta87
{quote} hey sevan, does the Vdub_pivot chanel repaint ?
Hi metta87,
Yes mate, it do repaint.
You may check it yourself in MT4 strategy tester switched tp indicator testing in visuial mode.

P.S. Repaint doesn't mean that we have to refuse using it. The advantage of repainting indicators that they give us earlier signals. The advantage of non-repainting that we see a true picture on the historical chart but their signal are usually later.
BR, alex
  • #1,759
  • Jul 13, 2016 3:52pm Jul 13, 2016 3:52pm
Quoting sevan62
{quote} Hi metta87, Yes mate, it do repaint. You may check it yourself in MT4 strategy tester switched tp indicator testing in visuial mode. P.S. Repaint doesn't mean that we have to refuse using it. The advantage of repainting indicators that they give us earlier signals. The advantage of non-repainting that we see a true picture on the historical chart but their signal are usually later.
oh ok thanks, thats what i thought. i couldnt check it cause it made my mt4 crash.
  • #1,760
  • Jul 13, 2016 4:06pm Jul 13, 2016 4:06pm
I like to test the renkosimple ea.
someone could tell me if this ea can be attached to any chart
without any other indicator and can work?
so i try to attach in a demo account in my vps and see what it happens.
thanks.
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