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Lets Automate a Simple Renko Strategy!

  • #1,921
  • Jul 23, 2016 11:35pm Jul 23, 2016 11:35pm
Some thoughts and suggestions
Thoughts:
Reno andre is a counter trend trading pattern
It will work during corrections and will fail on trends
We know approximately what the size of the stop is - 20 pips
Suggestions:
​trade two setups simultaneously- one with 20 pips required distance from EMA to take a trade and one with 40 pips required distance from EMA to take a trade , for a single currency pair
Thus in trend situation one of the setups (40 pips) will cover the losses of the other setup (20 pips) and when we are in correction the 40 pips setup will not work and the 20 pips setup will work
I will test this idea on forward test next week, to check if it is viable
  • #1,922
  • Jul 24, 2016 7:39am Jul 24, 2016 7:39am
Hi

Is there any indicator that will help identify area's of consolidation in rail to rail renko charts like in the attached screenshot?
Attached Image (click to enlarge)
Click to Enlarge Name: Untitledr.png Size: 25 KB
  • #1,923
  • Jul 24, 2016 10:45am Jul 24, 2016 10:45am
Quoting tkhan011
Hi Is there any indicator that will help identify area's of consolidation in rail to rail renko charts like in the attached screenshot? {image}
Well, for the script the two candles are aligned if Close[i]==Open[i+1]. But regarding the eyes - did you mean you needed more colours in your chart to recognise them? Cause they are visible very well from my point of view.
  • #1,924
  • Jul 24, 2016 11:06am Jul 24, 2016 11:06am
Quoting Halley
{quote} Well, for the script the two candles are aligned if Close[i]==Open[i+1]. But regarding the eyes - did you mean you needed more colours in your chart to recognise them? Cause they are visible very well from my point of view.
No... i mean any indicator like a histo or crossover that would indicate the renko chart will be in an area of consolidation like in the screenshot, and when it's range bound again the indicator would signal that
  • #1,925
  • Jul 24, 2016 12:19pm Jul 24, 2016 12:19pm
Quoting sevan62
{quote} Looking at the charts i do not consider 3 bricks entering approach profitable entry. Check how many wins and losses there are. Wipsaw is killing. {image}
1. See all the green arrows .. If we use the Rohinko strategy or something like tp of 5 pips and sl of 20 pips, then it will be a very new strategy right..
2. See the pic attached, This is the one which you have attached... i just kept arrows at the 3rd brick.. we can have 14 entries.. and if we use tp of 10 and sl of 20, then all the 14 entries will fetch us 140 pips..
3. Or else we can also use trailing.. like when it reaches 10 pips, the trailing can start from BE.... suppose when it goes 10 pips, then sl is set to 0, when it goes to 11, the sl goes to 1 pip when it reaches 20 pips, the sl is set to 10 pips..

We can use any strategy.. but i think it will work for sure.. i tried the same thing manually but i am just missing many entries because i have to stick to my computer all the time...

CnuVasu
Attached Image (click to enlarge)
Click to Enlarge Name: Sevan.png Size: 76 KB
  • #1,926
  • Jul 24, 2016 2:27pm Jul 24, 2016 2:27pm
Quoting CnuVasu
{quote} 1. See all the green arrows .. If we use the Rohinko strategy or something like tp of 5 pips and sl of 20 pips, then it will be a very new strategy right.. 2. See the pic attached, This is the one which you have attached... i just kept arrows at the 3rd brick.. we can have 14 entries.. and if we use tp of 10 and sl of 20, then all the 14 entries will fetch us 140 pips.. 3. Or else we can also use trailing.. like when it reaches 10 pips, the trailing can start from BE.... suppose when it goes 10 pips, then sl is set to 0, when it goes to...
In the first post you did not specified the direction of new trade after 3 bricks and i though that it is trend following. That is why posted you a chart with flat market. But now looking at you arrows i see that you offer counter trend (flat) strategy.
And check you arrows and wins/losses. One arrow is wrong. And there are 5 losing deals in the best for this system market condition. Total 9 wins x 10 pips = 90 pips win. Total 5 losses x 20 pips = 100 pips. Total 14 deals x 1 pip spread = 14 pips. Total Profit/Loss = 90 pips - 100 pips - 14 pips = -24 pips. Sorry mate but such simple system can't be profitable believe me. In case you want to argue you should better prove your words by trading.
Attached Image (click to enlarge)
Click to Enlarge Name: Sevan.png Size: 59 KB
​
BR, alex
  • #1,927
  • Jul 24, 2016 3:56pm Jul 24, 2016 3:56pm
Quoting tkhan011
Hi Is there any indicator that will help identify area's of consolidation in rail to rail renko charts like in the attached screenshot? {image}
why are you interested in those consolidations ?
  • #1,928
  • Jul 24, 2016 4:25pm Jul 24, 2016 4:25pm
Quoting metta87
{quote} why are you interested in those consolidations ?
There seem to be a lot of them and i would like to know when the renko chart will be doing that and for how long... simple
  • #1,929
  • Jul 24, 2016 10:02pm Jul 24, 2016 10:02pm
Quoting tkhan011
{quote} There seem to be a lot of them and i would like to know when the renko chart will be doing that and for how long... simple
yeah they happen a lot, i ve not yet come around any indicator that highlight them. Maybe someone in this thread will help you if you re lucky. i think an indicator for a visual aid will be easier done than one to predict where and for how long those consolidations take place.
  • #1,930
  • Jul 25, 2016 1:09am Jul 25, 2016 1:09am
Quoting sevan62
{quote} In the first post you did not specified the direction of new trade after 3 bricks and i though that it is trend following. That is why posted you a chart with flat market. But now looking at you arrows i see that you offer counter trend (flat) strategy. And check you arrows and wins/losses. One arrow is wrong. And there are 5 losing deals in the best for this system market condition. Total 9 wins x 10 pips = 90 pips win. Total 5 losses x 20 pips = 100 pips. Total 14 deals x 1 pip spread = 14 pips. Total Profit/Loss = 90 pips - 100 pips -...
Hmm.. its ok.. may be i am wrong
  • #1,931
  • Jul 25, 2016 10:27pm Jul 25, 2016 10:27pm
any news from renkoandre it only makes loss till now, anyone who makes profit?
  • #1,932
  • Jul 26, 2016 1:26am Jul 26, 2016 1:26am
Quoting afxcorp
any news from renkoandre it only makes loss till now, anyone who makes profit?
Yes mate it is losing.
BR, alex
  • #1,933
  • Jul 26, 2016 7:35am Jul 26, 2016 7:35am
You can try DeMark indicator with the template attached. It will not identify the consolidation areas , but will identify a good breakout points.
The screenshot is from USDJPY, 5 pips brick size.
Quoting tkhan011
Hi Is there any indicator that will help identify area's of consolidation in rail to rail renko charts like in the attached screenshot? {image}
Attached Image (click to enlarge)
Click to Enlarge Name: Renko DeMark.PNG Size: 49 KB
Attached File(s)
File Type: ex4 Demark_trend_new_TSD.ex4   47 KB | 750 downloads
File Type: mq4 Demark_trend_new_TSD.mq4   14 KB | 881 downloads
File Type: tpl Renko DeMark.tpl   2 KB | 681 downloads
  • #1,934
  • Jul 26, 2016 9:18am Jul 26, 2016 9:18am
Quoting udeltaforex
You can try DeMark indicator with the template attached. It will not identify the consolidation areas , but will identify a good breakout points. The screenshot is from USDJPY, 5 pips brick size. {quote} {file} {file} {file} {image}
Thank you mate, i will test it on demo, have you used it? does it repaint?

and can you explain how to use it, what settings are better, what the parameters mean and all that? thanks
  • #1,935
  • Jul 26, 2016 10:48am Jul 26, 2016 10:48am
Quoting sevan62
{quote} Yes mate it is losing.
can you upload mq4 i have an idea
  • #1,936
  • Edited 1:18am Jul 27, 2016 12:43am | Edited 1:18am
it does not repaint;
how it works:
- to draw a yellow circle on a bar - the low price of each of the 5 bars before and the low price of each of the 5 bars after the bar, have to be higher than the low price of the bar
- to draw a yellow circle on a bar - the low price of 5 bars before and the low price of 5 bars after the bar, have to be higher than the low price of the bar- to draw a yellow circle on a bar - the low price of 5 bars before and the low price of 5 bars after the bar, have to be higher than the low price of the bar- to draw a red circle on a bar - the high price of each of the 5 bars before and the high price of each of the 5 bars after the bar , have to be lower than the high price of the bar
how to use:
see the pictures attached

it will be nice if some of the forum members, could make a strategy to test on different pairs and with different renko box size

Quoting tkhan011
{quote} Thank you mate, i will test it on demo, have you used it? does it repaint? and can you explain how to use it, what settings are better, what the parameters mean and all that? thanks
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Renko DeMark How to Use.PNG Size: 56 KB
Click to Enlarge Name: Renko DeMark USDJPY Trades.PNG Size: 74 KB
  • #1,937
  • Jul 27, 2016 4:07am Jul 27, 2016 4:07am
login: 2089158858

pass: tm58858

server: Tickmill-DemoUK



ITS GOOD MAKING PROFIT


DEAR sevan62

IF YOU POSSIBLE ea mql file


or pls remove comment ( RenkoAndre EA)
  • #1,938
  • Jul 27, 2016 5:15am Jul 27, 2016 5:15am
Quoting rkkgs
login: 2089158858 pass: tm58858 server: Tickmill-DemoUK ITS GOOD MAKING PROFIT DEAR sevan62 IF YOU POSSIBLE ea mql file or pls remove comment ( RenkoAndre EA)
Hi rkkgs,
you have an ipressive result with the EA - congratulation.

Mine are completely different - not worth to show. :-)
Would you let us know some details of your usage?
TF, Leverage, Is it TickMill ECN?

Thanks for your help.
  • #1,939
  • Edited Jul 28, 2016 12:52am Jul 27, 2016 7:05am | Edited Jul 28, 2016 12:52am
Quoting rkkgs
login: 2089158858 pass: tm58858 server: Tickmill-DemoUK ITS GOOD MAKING PROFIT DEAR sevan62 IF YOU POSSIBLE ea mql file or pls remove comment ( RenkoAndre EA)
Dear rkkgs,
I've logged in to your accont. Indeed good trading performance. Congratulations.
Sorry mate but i do not share source code in order to prevent illegal EA sales.
And what is the nesessity to change the comments? This EA is based on Andre rules and named in his hornor.
BR, alex
  • #1,940
  • Jul 27, 2016 7:43am Jul 27, 2016 7:43am
rkkgs what settings are you using? thanks

Quoting rkkgs
login: 2089158858 pass: tm58858 server: Tickmill-DemoUK ITS GOOD MAKING PROFIT DEAR sevan62 IF YOU POSSIBLE ea mql file or pls remove comment ( RenkoAndre EA)
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