Profits from Renko - page 2

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uedgk:
I am going to test the system and post the results when I will be able to do so (restriction by admins)

Uedgk, you are not under any restriction by admins so you can post the results anytime.

 

Hi,

I have realized that the system "01 RenkoLiveChart_v3.303" indicator doesn't work anymore after the MT4 update.

It seems to have migrated MQL5 into the system.

With kind regards,

Thomas

 

Hello PrinceWahaj,

Respecting SR, Pivots, Fibo's are key of many systems. I also tried to keep track of the respected pricelevels. In the end i decided to give some pairs more room to move (larger Renko's) instead of looking the charts many times a day. This way the main signal gives less false signals. Mostly, it gives signals when there is a break-out or a trend-continuation after the battle on the respected pricelevels.

Hello uedgk,

Please give it a try but please test it on a demo first! Try to find your best Renko size and best indicator settings (period, multiplier, smoothing). For Cad/Jpy you could start with Renko size 15, period 10 multiplier 2.0 and smoothing 0.

Give us an update how it works out for you!

Hello Thomas,

Programming an EA with system could only work when the best settings for each pair. As i described, each pair needs to be studied and results in different Renko sizes and indicator values. I've tried a levelstop reverse EA and it works pretty good. The thing is that it disregards the fast movements/spike's. That way it could be dangerous. If you try to automate this system, you need to include the RenkoAM and think of a solid exitmethod. If you think you can manage to develop an EA with the exact rules as given in post1, maybe it could be something great. If you have questions, please don't hesitate to ask them. At this time, i do not have issues with the RenkoLiveChart v3.303.

Greets,

Angela.

 

If you can tie in your exits to the ADR it would be more profitable. Renko (as well as range) stops are accurate so as long as a trailing stop has a target, then I am sure you can get meaningful profits from the system.

I'll watch this thread.

Regards

TEAMTRADER

 

Eager to learn more about your system! How long have you been trading it? Which Pairs?

 

Hi TEAMTRADER and richterzoo,

@richterzoo

Thanks for your enthusiasm! I've been trading this system for over a half year now. Still succesfull. I trade a lots of pairs now and also Xau, Xag, Dax30, Nasdaq. Mostly trading the majors and some minor crossings. But on the more range bound pairs i use smaller Renko sizes like the triangulars EurChf, EurAud, AudChf and EurGbp, GbpChf, EurChf. The most important thing is not to panic and stick by the rules. Don't interfere the trades.

If you have any questions, please let me know how i can help.

Good luck!

@TEAMTRADER

Yes, i once used ADR, but more to determine the volatility of a pair to find the best Renko barsize. I think in your context you mean to find the potential daily exhausting zone's. I also tried that earlier icw Fibo's, Pivots and main SR-levels. Since Renko isn't time related, i had a hard time to keep monitoring several pairs on all critical area's. Therefore i decided to use better Renko barsizes and proper LevelStop breakout settings. This way it makes it more easier to trade more pairs without monitoring m trades constantly. But i thank you very much for your suggestion! I do agree that respecting a pairs ADR can be a safer method when you have the patience to keep track of less pairs.

Greets,

Angela.

 

Well, well Angela thanks for restoring my faith in Renko (lol)

your charts gave me some ideas that I have been tinkering with

Posting my chart only the 3 rd day very gingerish with the trades but 3 wins only really during european session

the red vertical lines are just me marking the chart as renko has no time stamp it lets me know where the price was when i was watching the charts so i can get i jist of movement

please note I don't answer privates

Files:
eurusdrenko.png  137 kb
 

Hi Angela how is your trading going and have you modified ur system?

 

hi..renko ea v3.2 is not working in my mt4 ..plz advice m using win8 mt4 build 711..

m2 offline data won't show..ea is running on 1 min chart and it scrolled back to two month..

sometimes it show m2 offline chart..but dollar sign in not in golden colour...

and renkolivechat v3.303 is not loading at all..on m1 chart..its an ea right..what m doing wrong ..

m using fxopen ecn demo account..is this because of ecn account..

 
Angela1985:
Hello PrinceWahaj,

Thanks, you have also a good weekend!

I'm very curious about combining powerfull systems! Please keep me updated

Hello hermes,

I noticed your experiences as well. I try to let it run on the vps and never reboot it

Combining EA's and several indi's are sometimes killing in combination with Renko & the current MT4 build

For some of you who have pm'ed me regarding any screenshots of live trades for example, see the picture below.

Some of you questioned my entry/exit method. Sure, i have tried PC, JS, L2L etc but the above works for me. In the screenshot you can see another exit approach. I will explain it:

You can see 5 trades i've made on the EUR/JPY, Renko barsize 15.

I use 3 lot for the standard TP: 1 Renko and SL: 2 Renko (EUR/JPY can be very fluctuant on reversals)

I use a second 1 lot and let it run until a reversed signal appeared or when it (almost)hits the upper red/ lower blue band. As you can see and calculate, i had 4 (60 pips) winners and 1 (30 pips) loser with my biggest lot. Regarding the small lots... well, just count the bars

REMEMBER, i'm still testing this method! Until now it is very profitable but i am more certain when i tested something for ~ 4 months.

I really hope that we can manage to improve this system/entry/exit -rules or to program an EA for it.

Please notice once again that the MM and entry/exit -rules are more important than this system.

Have a nice weekend guys!

Greets,

Angela.

hi..will u post the indicators and the template file..in this system..i can't find band and wave indicator in the diagram..

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