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Renko Bars Chart fo MT4


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Re: Renko Bars Chart fo MT4

 

This version seems to be an earlier version (at least longer than a week ago) since the last version shows wicks on the historical Renko bars as well. This is good to gauge if your StopLoss would have been hit since otherwise Renko does not show the true historical bar ranges.

Regards

 

Where are you viewing this newer version at???

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Re: Renko Bars Chart fo MT4

 

Edgetrader who started the C4 thread at FF highly recommended using 10 pip renko bars with a 5 pip TP and 20 pip SL. Yes I know this sounds like a poor risk/return and you need to get 80% wins just to break even. But Edge is an experienced trader who trades for a living and this is what he says is long term profitable following his rules.

 

You are probably thinking why not change to 10pip TP/SL or 15pip TP/SL so that the RR is at least 1:1. Or maybe use 5 pip renko bars so that price action is more clearly shown than 10 pip renko bars. Many forum members at FF have tried variations like this but so far none has proven to be consistently successful.

 

DxTrade who wrote and posted an EA for everyone later removed it because it was not profitable. The conclusion was that it had to be manually traded because it required a trader's discretion when to make a trade.

 

Edgetrader has said it takes a lot of practice. Every loss you can avoid means you save 4 wins needed to offset it.

 

So that is why I am still hoping Mr. ppc123 can find and tell us how some traders are getting the 50:1 win ratio. If we can find out what they are doing differently it can help us tremendously.

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Re: Renko Bars Chart fo MT4

 

? you get the chart with renko bars when the market is closed, you just need to have m1 data, the market can be closed, the unique difference is that the chart is stopped, because the market is stopped too, the same with ea's and backtests and all the things that dont need foward test.

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Re: Renko Bars Chart fo MT4

 

? you get the chart with renko bars when the market is closed, you just need to have m1 data, the market can be closed, the unique difference is that the chart is stopped, because the market is stopped too, the same with ea's and backtests and all the things that dont need foward test.

 

With NO ticks comin in from the broker the Renko SCRIPT cant create the offline M2 chart data.. Each M1 BROKER tick causes the SCRIPT to generate the tick data for the M2 chart..

 

Question for Hacker, clovis_trix is probably same as smTrix one, right? Did you play with 10 brick renko's?

 

TIA,

Altoronto

 

Actually I gave up on the TRIX indi... I didnt like some of the calcs being done in it (and the way they were doing it, backwards instead forward like it should be).. So I started from scratch and have wrote a new one Clovis_Trigger.. Just about got it finished.. I was working on it when I went to read some threads..

 

 

When I add the Clovis prefix it means I have added Global Variables to the indi/ea.. I use global variables to pass data to an EA that way when I make live chages to the indi it actually will be reflected in the EA performance.. If you create an EA using the icustom() way of getting an indi's data then MT4 actually loads a seperate COPY of the inid and its hidden from view and cant be seen or modified except by the the EA itself.. But you still cant see the hidden indi on the chart.. I use live indi's and transmit data thru global variables.. Also greatly LOWERS overall CPU overhead requirements.. I have most of my stuff down to where you can hardly see it on the Windows Task Manager.. Ive seen some EA's that will almost kill a CPU due to just bad coding..

 

I sure do like the Renko way.. SO far I have been runnin 5 pip bricks.. Be tomorrow I think I will run several charts using different size bricks to get the feel... I know on OIL I really like it...

 

 

http://i27.tinypic.com/33mlfl5.jpg

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Re: Renko Bars Chart fo MT4

 

Thanks for info .. I wrote EA (icustom) based on smRenko signals but have some weird problem, it should trade on every buy/sell signal, but sometimes trade on it sometime don't, strange, maybe renko chart issue, not sure. Don't you think that there is more noise in 5brick renko then 10 ones?

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Re: Renko Bars Chart fo MT4

 

Thanks for info .. I wrote EA (icustom) based on smRenko signals but have some weird problem, it should trade on every buy/sell signal, but sometimes trade on it sometime don't, strange, maybe renko chart issue, not sure. Don't you think that there is more noise in 5brick renko then 10 ones?

 

Dont know.. Couldnt tell you.. As I said I have ONLY been runnin 5 brick... What does your testing tell you???

 

here the same basic chart with 10 pip bricks... Just as a quick glance it apears to be more noise on 10 than 5 but without testing it; its just a guess..

 

http://i26.tinypic.com/bhwsgz.jpg

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Re: Renko Bars Chart fo MT4

 

I think I found out why my EA is not making trades all the time, looks like there is clashing between infinity loops in EA with Renko chart script. About Rubberband, I guess you can enter or exit on higher dots (red or green) with Trix confirmation, right? And most important question, is it your ver. of Trix for share? :-bd

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Re: Renko Bars Chart fo MT4

 

I think I found out why my EA is not making trades all the time, looks like there is clashing between infinity loops in EA with Renko chart script. About Rubberband, I guess you can enter or exit on higher dots (red or green) with Trix confirmation, right? And most important question, is it your ver. of Trix for share? :-bd

 

sure.. I honestly cant remember where I left it.. But give it a shot...

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Re: Renko Bars Chart fo MT4

 

I see this thread has slowed down some. Nice work Hacker on the Clovis_Trix! I am experimenting some with my own version of a Nitro EA and I was wondering if someone got the latest update of the S-Renko script. I read on the FF C4 forum that a new version is out with Anchor capability. If someone would share that would be greatly appreciated.

 

Cheers

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Re: Renko Bars Chart fo MT4

 

I see this thread has slowed down some. Nice work Hacker on the Clovis_Trix! I am experimenting some with my own version of a Nitro EA and I was wondering if someone got the latest update of the S-Renko script. I read on the FF C4 forum that a new version is out with Anchor capability. If someone would share that would be greatly appreciated.

 

Cheers

 

By anchoring do you mean the not having to execute the script every time upon start? If so, you can just put the script into the ea director and attach it as ea, this always keeps my settings and don't have to reattach every time.

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Re: Renko Bars Chart fo MT4

 

Would you mind sharing your clovis_trigger indi?

Thx!

 

Actually I gave up on the TRIX indi... I didnt like some of the calcs being done in it (and the way they were doing it, backwards instead forward like it should be).. So I started from scratch and have wrote a new one Clovis_Trigger.. Just about got it finished.. I was working on it when I went to read some threads..
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