Mr.Nims, Renko Ashi Scalping System. - page 350
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yer basic simple system using TMA indicator
It is actually a pity that renko backtests are not reflecting the reality.
If the realtime results of my freshly developped scalping EA are only providing half of the profits as tested I am more than happy. Still have my doubts though..I tried and tried to develop an EA that I could rely on and had no luck. Renko bars are formed in such a way that an EA seems most difficult.
I know that Nick has looked into it also.
One idea may be to, withion the EA, create your own bars, similar to range bars.... then u can control the formation and layout of the bars.
Using bars created by another EA may be the cause of the problems.
I have pondered this often and come up with no great solutions.
daveM
Depending on the setting, the TMA band can be most illustrativer when a reversal is coming
I changed the setting on this one to 30 and it seems to work nicely
Add a couple MA's for trend and the chart should work well and be quite simple to manage.
Enjoy!
I tried and tried to develop an EA that I could rely on and had no luck. Renko bars are formed in such a way that an EA seems most difficult.
I know that Nick has looked into it also.
One idea may be to, withion the EA, create your own bars, similar to range bars.... then u can control the formation and layout of the bars.
Using bars created by another EA may be the cause of the problems.
I have pondered this often and come up with no great solutions.
daveMHi Dave,
not quite sure I completely got where you had the difficulties in coding an EA based on Renko bars. Let me know if I can support somehow.
David
I have never tried Renko.
But I want to try it, the problem is that it does not work.
I have followed all the instructions here.
So, 'Renkolivechart_v3.2 is in the experts folder, I load it to an empty M1 chart and then I go to 'file' to open an offline chart.
I should look for 'M2' but only 'M3' is there and when I look at the settings of the Renkolivechart expert, I see that Renko time frame is 2, so that is all right.
When I change that to 3, I do find a M2 offline chart ... strange...
So, the M2 chart is there and I change the settings of the Renkolivechart back to 2, the offline M2 chart starts updating, but that seems to last for ever ...
No matter what I do, it doesn't work.
Anyone has a solution ?
I'm a real noob in Renko, no experience at all ...
Thanks
Renko 3.4 seems to work ok
Im having the same problem as Wulong10, i followed directions but when I go to offline charts the M2 doesnt appear.
Im having the same problem as Wulong10, i followed directions but when I go to offline charts the M2 doesnt appear.
nkcoghill and wulong10
In case the renko ea you're using isnt working for you, I attached another one that should work instead. make sure you put it in your experts folder, then follow these steps:
1. open an M1 chart - use the home key on your keyboard to scroll as far back on the charts as possible. this will ensure you load as much price data history as possible.
2. attach the renkolivecharts ea to the M1 chart
3. adjust the settings for your preference. I attached a sample screenshot. RenkoBoxSize is how many pips you want your bricks to be (in this case 10). RenkoTimeFrame is the offline chart timeframe you assign your renko chart (in this case M10). You can assign any number - 2, 3, 7, 20 - whatever. Just make sure you DONT use a regular MT4 timeframe like 5, 15, 30, 60 etc.
4. after choosing your settings, wait a few moments for the M1 chart to start receiving tick data (so obviously do this when the markets are open)
5. open your renko chart from File --> Open Offline. Look for your chart in the list with the timeframe you assigned it. ex. EURUSD M10
You can now apply any template or indicators you want to this offline chart. Under the properties tab, make sure "candlesticks" is chosen to properly see the renko bricks.
Remember, you need to keep the M1 chart open at all times in order for the renko chart to work (you can minimize it) and you need to open a separate M1 chart for each currency pair you want a renko chart for.
hope that helps!
Hi Dave,
not quite sure I completely got where you had the difficulties in coding an EA based on Renko bars. Let me know if I can support somehow.
DavidHi David,
Sorry I was tied up here.
You'll never get any accurate backtest for robots on the standard mt4 strategy tester, you need to use the method as described on this website, then you'll get the reality backtest and also with the 90% quality.
Here you go.
Backtesting EAs on RangeBars, Renko, Median Renko & PointO charts using tick data on MT4 – Forex Trading Tools | Metatrader tools & plug-ins
Regs,
Nick
New Files once again.
Hi Folks who are having trouble,
I've already posted this before on this topic, Well I'll post it again.
Build 600+ files.
Over here.
https://www.mql5.com/en/forum/179557/page185
New Mt4 Build compatible Renko builder EA's
- v3.2 is the regular original one with all history.
- v3.3x2 is to build two renko charts from one m1 chart.
- v3.4 is has the customization history option, in-case you need to reduce load on your mt4 and for scalping renko charts.
new_mt4_renkobuilder_eas.rar
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To Your Success!
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Nick D'Trader (A Renko Trader of Forex, Commodities & Indices)
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Easy Renko System - Easy Renko
Next Trend Traders LLC