Renko is great but I am having one small issue...!
I have the normal chart open with the renko ea and the off line chart for the renko bars chart.
But it sometimes needs refreshing to see what is happening with the bars. and I see it repainting quite often...!
Is this common problem or is there a fix for this?
Before I begin, let me state I am no expert at
Renko of trading. But here is what I have found and some of it is
from my personal experience. For auto-refreshing your charts, you can
try the attached indicator, I am not its
author; but it works nicely for me. A
Renko candle keeps repainting, until it is fully formed, so
wait for the next candle, before making a decision.
I have also found that at times, the whole
chart repaints, that is because as has been mentioned elsewhere in
this forum, the starting point of the chart shifts, In India, the
data providers give backfill for a fixed number of days, this must
be changing daily; as the last date is moved forward. To get over
this problem, I build my Renko chart at the start of the trading day,
then it does not repaint. Lastly, in one 1m chart, you are going to
use to build renko, first go to chart properties and uncheck chart
autoscroll, and then repeatedly press the Home key so that this chart
loads the maximum amount of data, you can get. Only after this attach
the Renko EA. Best wishes.
Please only attach the mq4 file.
I have one trading system which I'd like to have as EA. This system is based on renko charts and mindhero indicator.
Why am I using renko charts? The reason is simple. Renko simply filters choppy market. Also it is very useful during news (I'll show you what I mean in example below). The most important reason is that renko ignores time, just movement/pips are important.
Why am I using mindhero? Honestly, I hate mindhero on normal candle charts, simply on any chart based on time not on pips. However mindhero works fantastically on renko charts.
What setting am I using?
For renko I am using 5 pips per brick/candle (in setting it is 50). Mindhero is in the basic setting as you can download it from mql4.com (https://www.mql5.com/en/code/8299).
In my system I also have EMA 5 and SMA 21. SMA has to same effect as 15 minut pivot point on M1 chart.
How do I imagine the EA?
It should be very simple EA where you can set TP, SL and trailing SL, pips per candle. Those averages or not as important I just use them for manual trading.
I have very recent example of GY 14:30cet 6/8/2010, during news. I think it is kind of impossible to catch this candle for more than 20%.
HOWEVER, with renko and mindhero you can catch almost 80% of the movement. It is because the candle from M1 is divided it 16 candles
It looks great and it is great, also for manual trading but as you 10 candles were in one minute. it is almost impossible to open short.
The solution for this prom should be EA.
So please help if you can.
If you have any questions do not hesitate and ask me. If you have any direct questions about the system you can write me at thomasfr05(at)gmail(dot)com
Dear forum members
I downloaded this EAWhen i load this into MT4 i get a sad smiley all the time Do i need to load this into a specific chart?
I have live trading enabled
Hope to hear from someone
I downloaded your EA for buy and sell I have a happy smile in MT4 and loaded this EA on top of the renko live chart
It does not buy nor sellCan you help me out to get this EA to work?
thanks in advanceKind regards