Renko Martingale Scalper

[konorti]

@konorti I can't do that. It was made with an EA generator. Are you saying it doesn't open any orders ? But the error is quite clear- your broker doesnt support the lot size used. If no orders are opened at all it means for some weird reason your broker doesnt support 0.1 lots, if it does that after a few losses i have no clue what that means cause it should support 0.3 0.9 and 2.7 lot orders as well. Anyway it's clearly a problem with your broker. Ask them about supported lot sizes.

for a server invalid trades size also if the lot is 0.100000 and not 0.1. This can be programmed easily. I dont know why one or the other server not accept it, but I would say it is easier to reprogram the EA than changing a broker. If you send the code in a PM I will do it

And about the chart- it doesn't look like renko- looks like constant range bars- which for one thing means that if a bar closes in the other direction it will close with a 10/12 pip loss instead of 22 as it should, quite likely resulting in more losses in a row and blowing the account.

I run the EA on the offline chart generated by RenkoLiveChart_v3.2.(no change in settings) Maybe it is not visible on the chart but the wicks are the ones that makes the bars overlaping.

Other question:

Why is there an algorhytm to open a second buy or sell trade after the first ones with different parameters than the original?

Edited June 13, 2011 by konorti

[mograst]

@SpacyTrader --- do you have a way to add indicators what EA generator are you using? .. just curiouse as i am testing some indicators with renko i may testing with renko EA.

[mograst]

Tks. :D About the description- I thought it was clear enough. The EA opens (or tries to) orders on every new brick (if price is lower or equal to the close of the last brick) in the direction of the last brick filtered mostly with the 13 SMA as trend filter. The TP and SL are made for 10 pip renko bricks (you can use RenkoLiveChart_v3.2 for that) 11 TP 22 SL. Btw- did some more calculations and realized a 3x multiplier instead of 2.8 doesn't add any additional risk considering 500:1 leverage and starting at 1:1 leverage. So here's a version with 3x lot multiplier (or you can modify yourself the previous version's defaults): http://www.multiupload.com/IYBD0GH5TI

 

Also RenkoLiveChart_v3.2 while I'm at it: http://www.multiupload.com/SPO7TE7FZB

 

It should work with 22 pip TP/SL too, but perhaps it would need a modification for that to ensure new orders are not added every brick but every 2 bricks. It should work as it is but maybe with a bit more losses (and profit too obviously being martingale)

 

For demo test results: https://www.myfxbook.com/portfolio/renko-martingale-ea/116091 I see nobody else reported results. :| The first day or 2 there were plenty of bugs and wrong multiplier.

 

you may have to double check your trading logic.

Edited June 13, 2011 by mograst