Actual Renko - page 5

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Sure

painless:
Ok. My advice is that you run my tickwriter ea to collect data for the future. You cannot get it anywhere else that I know of. I wish I had done this 12 months ago then I would have the real thing to work with instead of this minute data, which is next to useless. Then we can share data if we get holes. Of course it varies depend on which bucket shop you use. The qutes on some of them are a joke. Cheers

I will start collecting data as from tomorrow.

 

20 pip Renko

Sreenshot of 20 pip Renko.

Live data fed from MB Trading Navigator, written to MT4 history file.

It does not look like a "normal" renko because I have not drawn the pretty boxes and hidden the wicks. I could do that but I trade off price so I need to see the price. Bar max and min I am now calculating as a function of the previous "box". However I am still allowing gaps.

Files:
eu20.jpg  82 kb
 
painless:
Sreenshot of 20 pip Renko.

Live data fed from MB Trading Navigator, written to MT4 history file.

It does not look like a "normal" renko because I have not drawn the pretty boxes and hidden the wicks. I could do that but I trade off price so I need to see the price. Bar max and min I am now calculating as a function of the previous "box". However I am still allowing gaps.

Nice chart, Blair. Very clean boxes. How are you calculating the min/max bars as a function of the previous box? Are you using some sort of averaging?

MB data looks tight. How are you finding your strategy working out with its data?

 

re Limstylz question

Good question!

First of all I defined a renko bar as containing n elements. Not high - low = n, so a 10 pip Renko BOX (excluding wicks) is 1.4650 to 1.4659.

I may have mentioned to you I do not chart just the bid. Who made up that stupid idea anyway? My bar is bid and ask. Suit yourself.

We have two tasks. One is to make the confining limits for this bar. Then we fill it in with whatever data we get. Thus we are following the basic Renko idea but not padding with ghost prices. The bars move in multiples of the bar size.

Once the price moves beyond the limits for the previous bar we can define the limits for the new bar. Which of course is now the current bar. We do not want to pad so we have to base our price on the prev Renko box even if that box never happened. eg it gapped! For this purpose I define these 3 variables.

renkoVal is the, rounded to box size, value that we work from, regardless of the size of the gap. The two prev# variables are just to keep it easy for me to follow. Also they could be used for drawing the pretty boxes if you want them.

if dir is up (thus I am using the ask price here)

renkoVal = (rec.ask div c_BarSize) * c_BarSize;

prevRenkoBrickHigh := renkoVal - 1;

prevRenkoBrickLow := renkoVal - c_BarSize;

if dir is down ( and here the bid)

renkoVal = ((rec.bid div c_BarSize) + 1) * c_BarSize;

prevRenkoBrickHigh = renkoVal + c_BarSize - 1;

prevRenkoBrickLow = renkoVal;

Now we can define the limits of this bar thus ..

barMax = prevRenkoBrickHigh + c_BarSize;

barMin = prevRenkoBrickLow - c_BarSize;

div is integer division

You can draw this on a grid or in a spreadsheet to follow it.

Hope this helps.

 

trading it

Dan,

Sorry I forgot to answer that part.

With regards trading. I wish to backtest it on tick data and this is a somewhat large task. I would like to use MT4 to fire the orders to my MB sdk app or wait for MB to get MT4 running. That data from Dukascopy shrunk from 4.22gb to 185mb after converting to binary, removing duplicates and rounding to 4 digits. Backtesting requires a lot of work eg create 3d graphs of any parameters to ensure robustness. It will take a long time to test one currency to my satisfaction. I will let you know if I think it is any good or a dud

cheers

 

Thanks for the detailed reply

Thanks Blair... I am still unsure if the renko/range boxes adds anything to my existing trading style. It certainly is easier to follow trends and view SR.

I look forward to your test results.

 

Free real-time Renko charts

Hi,

I was looking everywhere for a free and reliable Renko indicator to use with MT4 -- no luck.

Then I realized that I had one available on a different platform all along. I use CMC Markets (in Japan) with Markets-Pro as the trading platform. CMC is a CFD broker.

Charting is not the forte of the platform, but it provides a plethora of display options, including Renko, Kagi, Point-and-Figure and many others.

The problem is that the Renko charts take no input other than timeframe. So there is no way to even tell whether the block size is measured in pips, ATR, or the average amount of rainfall in September... Very bare-bones.

On the other hand, they provide demo accounts, and as the saying goes, "Don't look a gift horse in the mouth." CMC Japan only has the Japanese platform, so if you require a different language I would try googling for "Markets-Pro". Other indicators needed for confirmation etc. can always be checked on a separate chart in MT4 etc.

This is different from the indicators made available here for MT4 which either work on offline charts or follow the time axis on the online chart. They are "real" time-independent charts.

I, for example, use H4 Ichimoku for overall trend direction, confirmed by H1 Ichimoku pointing in the same direction or in a neutral state. I used to look for lower-timeframe entries on M15 or M5 Ichimoku, but can now supplement this with short-term Renko analysis for fine-tuning.

Just thought I'd share this.

Cheers,

jesper

PS: I just found out that outside Japan the software is called "MarketMaker". It appears to be offered for free access. The latest version is 5.3.

Files:
cmc_renko.jpg  20 kb
cmc_kagi.jpg  19 kb
 
painless:
Sreenshot of 20 pip Renko.

Live data fed from MB Trading Navigator, written to MT4 history file.

It does not look like a "normal" renko because I have not drawn the pretty boxes and hidden the wicks. I could do that but I trade off price so I need to see the price. Bar max and min I am now calculating as a function of the previous "box". However I am still allowing gaps.

hi, could you post this renko script, please?

 

Camisa request

I do not use a script as I replied to Camisa in a pm. MrTools posted a nice script/ea to build renkos. I suggest modifying that to show the real bar if you want an easier option than my solution.

Cheers

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