Non-gap Renko Chart Creator EA

Hello, can you tell me the difference between RenkoLiveChart_v3.2 and your MathTrader7_RenkoChartCreator?

Hello,

I haven't used RenkoLiveChart_v3.2, but as far as I know, it creates standard Renko charts and it cannot represent Renko bricks as accurate as possible from the history data.

Mine creates non-gap version (see Post 1) which is necessary for backtesting Renko charts, and it also reconstructs Renko bricks as accurate as possible from the history data.

Best,
Math

I would like to try out renko.

I have a few questions about it
1 what bricksize is recommended
2 and for the second chart wich renko expert is the best to use.

Hello MathTrader7

MathTrader7_RenkoChartCreator it good.

But when i use OfflineTestHelper.ex4 for backtest on RenkoChartCreator chart. It error "Unsupported hst version"

Help me please.

for new version. test it ok.

// write hst file header
int HstUnused[13];
FileWriteInteger(HstHandle, 401, LONG_VALUE); // Version
FileWriteString(HstHandle, "", 64); // Copyright
FileWriteString(HstHandle, SymbName, 12); // Symbol
FileWriteInteger(HstHandle, RenkoTimeFrame, LONG_VALUE); // Period
FileWriteInteger(HstHandle, Digits, LONG_VALUE); // Digits
FileWriteInteger(HstHandle, 0, LONG_VALUE); // Time Sign
FileWriteInteger(HstHandle, 0, LONG_VALUE); // Last Sync
FileWriteArray(HstHandle, HstUnused, 0, 13); // Unused
//

MqlRates rates;
rates.time = PrevTime;
rates.open = PrevOpen;
rates.low = PrevLow;
if(ShowWicks && UpWick > PrevHigh)
rates.high = UpWick;
else rates.high = PrevHigh;
rates.close = PrevClose;
rates.real_volume = (long)CurVolume;
rates.tick_volume = (long)CurVolume;
FileWriteStruct(HstHandle,rates);



Sorry my bad english.

Hi MathTrader7

Have you found a way to back test your Non-Gap and Rail to Rail Renko's. The OffLineTestHelper works fine with my OVO Omnia bars, however with your Non-Gap and Rail-To-Rail I get the "Unsupported legacy hst version. Use b509-compatible script" error. I set up the portable MT4 version as well, still same error.

Any bypass for this with your RenkoCreator?

btw. love ur work!

Hi MathTrader7
Thank you for your EA. I wanted to read nongapRenko bars to put my written EA on that to have a good entrance. I am reading M1 bars now( Reference Chart). Is it any way to do that? I do not want the source code, just pass iOpen and iClose.
I think this Nongap can give the best entrance, what is your idea?
Thanks

Sorry, l found what to do

Hi Math, this is the best way to sow the real price move congratulations for the expert.
Can you please include function that allows to include the spread into drawing the chart in real time, this will help us to see what is happened exactly, when we trade on the market with SL=TP=Renko Brick Size, and this will change the chat?
Is it possible to ignore the gaps from Friday evening to Monday?
Thanks.

Hi! Mt7!
Just wanna thank you for building this great ea! I was looking for a good renko chart and now I've found it! One question. Would you program a simple strategy for the renko chart? Like when it repaints, then Buy/sell with 3 briks for SL and exit when repaints, and going to the other direktion. BE when 2 briks in profit, and when SL hits,going oposite direction with 2brick SL. BE when 2brick in profit. Simple strategy but I think it would be profitable overall. Thx I've attached a snip from yesterday U/Y with WIN!

With M1, can backtest renko ? it's repaint if reopen mt4 ?

Hi MT7

Just a small idea to make an indicator that gonna use your renko charts (if you have time )
The idea is as follow :
This indicator schould paint a renko bar (rectangle ) on regular chart if the renko bar has reached a specific value of tick volume
This would show very nice ranging and slow market...

Hello MT7, i have a small idea/request as well if you dont mind. I think someone else mentioned it in this thread, basically it is an indicator which would spot consolidations blocks ( on either non gap or rail-to-rail ) ,so anytime at least 3 alternating blocks appear the indicator( which can be an oscillator like stoch ) leave 00 line and go to 100 line, and as soon as the consolidation stops , the indicator falls back to the zero line.
Thats it.
The default setting could be 3 for minimum consolidation blocks, but also user defined, meaning if i set i to 4, the indicator will spot every consolidation of at least 4 blocks.
I hope you wont mind coding this, since it could be of great help for staying out of consolidation.
Im going to post some charts to highlight what i mean by consolidations.
Thanks a lot.

Dear Masters,

I just start following Renko trading a few days ago and I need an expert to give me a hint

I saw that when I am not refreshing the chats they looks much different than after refresh. Both of the graphs are on D chart

Example: Big picture is after refresh and small one is on MT4 after a few days not refreshed. Could you please advise me how to reach the big picture graph and to reduce the intraday noise? Can I do it if I change m2 with m120 or bigger? Or if I change the ATRPeriod or ARTTimeFrame in the setting of the master chart with the expert?

RenkoLiveChart_v4.13 expert for the offline

Thank you in advance for your help and explanation

1. In this thread we only discuss the Non-gap Renko Chart builder EA. So, do not write any irrelevant post here.
2. We do attach a Renko builder EA to M1 (1 minute) charts only.
3. There is no way you can get the nice trending Renko chart in practice.

Best,
Math

MathTrader7 , do you have this kind of bars for Ninjatrader?

Andres

Sorry, I don't use Ninjatrader.

Hie MathTrader .. i must say the Renko builder EA you made is pretty impressive.
I would really love to understand it more especially the rail to rail setting.
it seems to filter my chart well and giving me an exciting new page to trade from.

Hello, I'm glad to hear it. However, please note that if you attach any Renko builder EA to any timeframe other than M1, the result would not represent the real market. I am going to publish a new version that regardless of what timeframe the user attach my Renko builder, it always uses M1 data.

Best,
Math

Version 1.49 released (I updated Post 1). In this version the EA uses M1 data regardless of what time frame the user attach the EA to.

Good Day MathTrader7,

I'm very impressed by the work you are doing for the FF community and I thank you. I have attached 3 Renko 10 pips charts as follows:
M9 shows a normal Renko chart
M10 shows a median Renko chart
M11 shows a no-gap Renko chart produced by your EA version 1.49

All charts produce Renko bricks that can be used but provide the user with different data depending on the indicators used. I exclusively trade with Renko charts using the EMA crossover of EMA 10 and EMA 21 as the trigger to enter trade and I exit the trade when I see two consecutive bricks of the opposite color.

Looking at the latest EMA crossover on the 3 attached charts:

On the normal Renko chart M9 I would have entered the trade on the candle of 19:40 on 30 January and close the trade on the opening of candle of 19:18 on 31 January with a profit of 89 pips.

On the median Renko chart M10 I would have entered the trade on the candle of 13:40 on 31 January and close the trade on the opening of candle of 17:20 on 31 January with a profit of 60 pips.

On the no-gap Renko chart M11 I would have entered the trade on the candle of 10:00 on 1 February and close the trade on the opening of candle of 10:05 on 1 February with a small loss or breaking even. Looking back on that chart it is obvious that my present strategy is not efficient using a no-gap Renko chart. The main reason for this is that a no-gap Renko chart produces a lot more candle than either a normal or median Renko chart as seen on the 3 attached charts. This is due to the railroad candles that would not be shown on the other types of Renko charts. I guess I need to modify my strategy if I want to use no-gap Renko charts.

I'm not sure if indicators work well on no-gap Renko chart but the Infoboard indicator (attached) does not work properly on my MT4 platform as it does not record the correct length of the current and the previous candle. Does anyone have problems with indicators using no-gap Renko chart?

Thank you again MathTrader7 and keep up the good work.