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Lets Automate a Simple Renko Strategy!

  • #1,961
  • Aug 9, 2016 1:49am Aug 9, 2016 1:49am
Hi Ockham,

it is the same for me, my renko andre charts is not refreshing as an non renko charts of the same currency
  • #1,962
  • Aug 9, 2016 2:47am Aug 9, 2016 2:47am
Quoting Ockham
Hi all, Is someone know why my renko andre charts is not refreshing as an non renko charts of the same currency as you can see on pic below ? any idea, thanks {image}
Hi Ockham,
There are no renko andre charts, there are Renko Offline Charts wchich are generated by some EA or indicator. And Renko Offline Charts has nothing to do with RenkoAndre EA which is attached to this chart. Your Renko Offline Charts not refreshing issue is related to some Renko Chart Creator issue. Please refer to my posts here and here where i share the best renko offline chart creating instruments.

Quoting Trytop
Hi Ockham, it is the same for me, my renko andre charts is not refreshing as an non renko charts of the same currency
Please read above answer mate.
BR, alex
  • #1,963
  • Aug 9, 2016 2:58am Aug 9, 2016 2:58am
Hi sevan72, thanks for your answer i will read this carefully, i m using mathtrader7 renkochartcreatorEA quote by you somewhere as a good one, followed this thread carefully as well and grateful for all you re sharing here, thanks
There is no way to happiness , happiness is the way.
  • #1,964
  • Aug 9, 2016 8:48am Aug 9, 2016 8:48am
why do you calculate renko box from a m15 chart? it has to be m1 chart!
  • #1,965
  • Aug 9, 2016 9:09am Aug 9, 2016 9:09am
Quoting afxcorp
why do you calculate renko box from a m15 chart? it has to be m1 chart!
no afxcorp, it depends of how many candle your broker give you in m1, an advice from methatrader7 is to set your offline chart with M5 or M15 (with him renko creator) to get more candles !
There is no way to happiness , happiness is the way.
  • #1,966
  • Aug 11, 2016 11:09pm Aug 11, 2016 11:09pm
Hi Sevan62

I have been trading the renko manually. I was searching for an EA to trade the renko as it becomes almost impossible to trade the renko manually when the news relase. I found that you have been trading the renko using EA. The thread is too long for me to read and pick up the EA system being traded by you all. can you suggest me the important posts that I should read and download the correct files for auto trading the renko?

Thanks.

Optimus
  • #1,967
  • Aug 12, 2016 1:23am Aug 12, 2016 1:23am
Quoting Fx-optimus
Hi Sevan62 I have been trading the renko manually. I was searching for an EA to trade the renko as it becomes almost impossible to trade the renko manually when the news relase. I found that you have been trading the renko using EA. The thread is too long for me to read and pick up the EA system being traded by you all. can you suggest me the important posts that I should read and download the correct files for auto trading the renko? Thanks. Optimus
Hi Fx-optimus,
There are only about 10-12 last pages when i began posting. You should better read it yourself as it is impossible to compress 12 pages into 2 lines. All my EAs are free to use, have no restrictions and suitable for renko bricks trading. You may chose to read only posts with attachments and sort attachments by uploader to save you time.
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BR, alex
  • #1,968
  • Aug 12, 2016 2:58pm Aug 12, 2016 2:58pm
Hi Sevan62,

I test your EA RenkoAndre from August 4. I need your help. Please, tell me if these results are normal for this EA (in attachment)? The settings are dy default. Or something wrong? Have you got the same results?
Thank you for the answer!
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  • #1,969
  • Aug 12, 2016 3:48pm Aug 12, 2016 3:48pm
Quoting vinvlad
Hi Sevan62, I test your EA RenkoAndre from August 4. I need your help. Please, tell me if these results are normal for this EA (in attachment)? The settings are dy default. Or something wrong? Have you got the same results? Thank you for the answer!
Hi Vlad,
Thanks for attention mate. You should better address this question to the author of the system andreedbert. Hi was insisting that his system is definitely profitable. I was forward-testing it about 10-15 days, at first it was performing excellently but then it bacome losing and i cancelled testing it. My main mission was to develop EA matching Andre system rules and it seems that EA respect these rules and trading perfectly according to them. I was expecting that some of thread subscribers especially Andre would be interested in this EA and would test it and share results.
BR, alex
  • #1,970
  • Aug 12, 2016 4:35pm Aug 12, 2016 4:35pm
Quoting vinvlad
Hi Sevan62, I test your EA RenkoAndre from August 4. I need your help. Please, tell me if these results are normal for this EA (in attachment)? The settings are dy default. Or something wrong? Have you got the same results? Thank you for the answer! {image} {image} {image}
The automated EA is possible to backtest. You may see it contains profitable periods, but over longer period the default settings is losing. (Renko 10 pips in the test)
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  • #1,971
  • Aug 12, 2016 5:59pm Aug 12, 2016 5:59pm
Quoting Halley
{quote} The automated EA is possible to backtest. You may see it contains profitable periods, but over longer period the default settings is losing. (Renko 10 pips in the test) {image}
I appreciate your backtests but you should also take in consideration:

  1. MT4 backtesting is not 100% accurate. The most accurate results when you are testing by closed bars model and EA also has bar close control.
  2. Backtesting Renko is twice or even triple worse than usual back-tests.
  3. Why are you are using M1 TF for Renko backtesting? Or is it Renko .fxt renamed to M1?
  4. Modeling quality N/A means that historical data is poor. It must be 25% for M1.

I don't want to insist that Renko Andre system and EA also profitable in long term. But it is not fair to state it is losing based on backtests only. Just my 2 cents.

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BR, alex
  • #1,972
  • Aug 12, 2016 10:19pm Aug 12, 2016 10:19pm
I'm not a big fan of the off-line charts. So I wrote up a little Renko Framework EA which superimposes Renko Bars on the 1M chart. Since the Renko Bar Structure is similar to the normal bar structure, you can easily adapt your existing system to this live chart. It's kind of hacked together for now.
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  • #1,973
  • Aug 13, 2016 1:19am Aug 13, 2016 1:19am
Quoting sevan62
{quote} I appreciate your backtests but you should also take in consideration: MT4 backtesting is not 100% accurate. The most accurate results when you are testing by closed bars model and EA also has bar close control. Backtesting Renko is twice or even triple worse than usual back-tests. Why are you are using M1 TF for Renko backtesting? Or is it Renko .fxt renamed to M1? Modeling quality N/A means that historical data is poor. It must be 25% for M1. I don't want to insist that Renko Andre system and EA also profitable in long term. But it is...
Well, I feel a need to react, to remove the bias against backtesting the Renko charts.
MT4 backtesting is not accurate. True, nothing in the world is perfect. So let's call a 'realistic' backtest, if the trades in the backtest are close to the one taken by EA in the live account.

For the bar-close testing the result is hardly a realistic one, unless your EA design ignores existence of pending orders or trailing stops and when it really does nothing but wait for the end of the bar. Which is not the case for most the current EAs (though some do).

Backtesting Renko is twice or triple time worse than usual back test...? I do not expect the Strategy Tester knows anything about Renko, the testing quality is defined by the supplied set of data.

The M1 timeframe was a pick from a timeframe selector when generating the FXT data, I will pick another one next time. I do not have any knowledge about renaming FXTs to M1.

Modelling quality N/A displays in the report when using the external FXT file without a third-party tweak (the launcher). With the launcher it would display 99%, which is actually the number saved in the FXT file. From this point of view, the number has no meaning for the tick model quality anyway, as the original formula calculates with timeframes. The FXT builder may issue any number to the file.

Anyway, regarding the Renko chart (or similar constructions), the tick backtesting is specific in possible presence of fake (unreal) ticks.

  1. You have price gaps between ticks, but the Renko chart still must contain bricks in the gap
  2. The prices on bar open and bar close are not real either

So, what matters for the 'realistic' result is, whether the FXT file contains only the real ticks and no fake Open/Close ticks, and no ticks in price gaps.
You may verify the particular test data quality manually in the visual mode, stopping the test and continue with 'ticking' by F12, to learn whether the fake ticks are either generated or avoided by the Strategy tester. If they are avoided, then the testing result for Renko chart is very realistic.

  • #1,974
  • Aug 13, 2016 1:21am Aug 13, 2016 1:21am
Quoting lspaziano
I'm not a big fan of the off-line charts. So I wrote up a little Renko Framework EA which superimposes Renko Bars on the 1M chart. Since the Renko Bar Structure is similar to the normal bar structure, you can easily adapt your existing system to this live chart. It's kind of hacked together for now. {image}
FYI Renko Live Charts which are built after Renko build EA or indicator is loaded and market is active and Renko Charts build from historical M1 when reail ticks are unaveilable are two different things. You can make sure in it if you run Renko Live charts for 1-2 days without stopping MT4, make renko chart screenshot and compare it to the new renko chart after restarting MT4. That is why for proper work your Renko Framework EA has to buid Renko charts from real tick historical data.
BR, alex
  • #1,975
  • Edited 2:47am Aug 13, 2016 1:56am | Edited 2:47am
Quoting Halley
{quote} Well, I feel a need to react, ...
Mostly you are right mate and my reply was written in consideration that you have run back-tests on M1 as it shown on your test report screenshot without any note.

Quoting Halley
{quote} ... Backtesting Renko is twice or triple time worse than usual back test...
This my above statement is base on the fact that in most cases people use poor M1 historical data with O/C/H/L prices only to generate .fxt renko file which is used for renko backtesting.

The only way to get the best possible renko backtesting quality is to:

  1. Use real-tick historical data for .fxt file generating,
  2. Use the same zero-point start price bias in live trading and backtests also,
  3. Use real tick gaps for generating live and historical renko bricks.

BR, alex
  • #1,976
  • Aug 13, 2016 2:16am Aug 13, 2016 2:16am
Quoting sevan62
{quote} Mostly you are right mate and my reply was written in consideration that you have run back-tests on M1 as it shown on your test report screenshot without any note. {quote} This my above statement is base on the fact that in most cases people use poor M1 historical data with O/C/H/L prices only to generate .fxt renko file which is used for renko backtesting. The only way to get the best possible renko backtesting quality is to: Use real-tick historical data for .fxt generation, Use the same zero-point start price bias in live trading and...
Yes, I totally agree.
There are two possible use of the Strategy Tester - verifying the strategy mechanics, and verifying the historical performance. For the former you may use whichever tool for sending the Renko chart to the Tester, while for the latter there are only a couple of serious tools available afaik.

About the starting point bias - IMHO the performance of a robust EA should not depend on such a starting point very much. But if you want to match the tester trades to the live ones, it is a good reason.
  • #1,977
  • Aug 13, 2016 2:46am Aug 13, 2016 2:46am
Quoting Halley
{quote} About the starting point bias - IMHO the performance of a robust EA should not depend on such a starting point very much. But if you want to match the tester trades to the live ones, it is a good reason.
Agree. That is quite the same what i wanted to say.
BR, alex
  • #1,978
  • Aug 13, 2016 7:47am Aug 13, 2016 7:47am
Quoting sevan62
{quote} FYI Renko Live Charts which are built after Renko build EA or indicator is loaded and market is active and Renko Charts build from historical M1 when reail ticks are unaveilable are two different things. You can make sure in it if you run Renko Live charts for 1-2 days without stopping MT4, make renko chart screenshot and compare it to the new renko chart after restarting MT4. That is why for proper work your Renko Framework EA has to buid Renko charts from real tick historical data.
Seven62. Yes, agreed. The framework back builds the Renko Bars from historic 1M when the chart is loaded. But then forward builds with tick data. I think this is the best you can do. Interestingly enough, since the back build of bars has very little impact on trades, you can run this in any time frame. Only problem is some of the renko bars are more narrow than a candle, so they are not "displayed". This approach seems to work well for live and back tests.

My intention was to let it behave identically to the offline chart, but without going offline. The only sacrifice I see is the Renko bar width being screwy.
  • #1,979
  • Edited 8:19pm Aug 15, 2016 2:44pm | Edited 8:19pm
Steve -- the solar wind repaints on my chart I am using mean renko by Az -- do you have the non repainting one -- I try the one here that said non repaint - but it still does
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #1,980
  • Aug 19, 2016 8:42am Aug 19, 2016 8:42am
Quoting sevan62
{quote} I appreciate your backtests but you should also take in consideration: MT4 backtesting is not 100% accurate. The most accurate results when you are testing by closed bars model and EA also has bar close control. Backtesting Renko is twice or even triple worse than usual back-tests. Why are you are using M1 TF for Renko backtesting? Or is it Renko .fxt renamed to M1? Modeling quality N/A means that historical data is poor. It must be 25% for M1. I don't want to insist that Renko Andre system and EA also profitable in long term. But it is...
Hi sevan62,

Talking about data accuracy, I'd like to get you opinion about this: I've tested an EA with pepperstone data. The data quality was 64% in the results report. In order to get this data I've loaded all data possible provided by pepperstone in all timeframes. Then to get more data ticks I've loaded data from metaquotes using the History Center. Then I run the test again and got 90% data quality. I ask you if the MT4 loads the data setting up the GMT offset of that data with of the broker. Is this result reliable?

If you have some clue about how can I get more reliable data where I can pay for it, please I'd like to know.

Thank you.
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