Does renko chart work?

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Have a look at this.
 

Hi Jake,

I can't open your file so can't see what you've attached, but Renko is very hard to simulate or back test.

Renko has two main advantages - it allows for very tight stops and gives plenty of opportunities to re-load.

I use Renko by drawing a 'line in the sand' - Long above and Short below. I use very tight stops and small entry lots as I will often have to re-enter when stopped out. When a trade moves in my direction I re-load frequently and keep my stops where they are until I hit my profit target or the market moves against me through my next 'line in the sand'. I personally believe that moving stops to breakeven is a bad idea, if the risk is worth taking in the first place, why change your mind? If your points of entry are correct it is possible to catch every decent move the market makes - but it does require a lot of patience, discipline and resolve.

 
ohboy:

Hi Jake,

I can't open your file so can't see what you've attached, but Renko is very hard to simulate or back test.

Renko has two main advantages - it allows for very tight stops and gives plenty of opportunities to re-load.

I use Renko by drawing a 'line in the sand' - Long above and Short below. I use very tight stops and small entry lots as I will often have to re-enter when stopped out. When a trade moves in my direction I re-load frequently and keep my stops where they are until I hit my profit target or the market moves against me through my next 'line in the sand'. I personally believe that moving stops to breakeven is a bad idea, if the risk is worth taking in the first place, why change your mind? If your points of entry are correct it is possible to catch every decent move the market makes - but it does require a lot of patience, discipline and resolve.

Its just html file compressed into rar, you shouldn't have problems viewing it.

I have resolved renko backtesting methods,and I use in my EA renko parallel where candles can be parallel to each other (if the price doesn't past 2 renko boxes you get parallel candles up and down). Backtesting is using recorded ticks,-first few weeks from demo, then from real account.

There is backtest results with last week included.




 

Original renko with fixed opens and closes-impossible in real life


Renko parallel as it is in real life.

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