Mr.Nims, Renko Ashi Scalping System. - page 25
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To ALL:
I have been doing extensive work/programming on Renko Bars for about 3 months. Ran across this thread and was quite impressed. Here is where I would love to hear from others if you have thoughts on my approach.
1. I love the idea of HA/T3 smoothing on R bars. BUT - it is where the smoothing occurs that I question.
2. Have observed that on small R Bars (3-5pips) that a single 1M bar can create multiple R Bars that are not tradable. I.E. you may see three R Bars that show a reversal, but you can not trade between these bars to end the trade that you are in and this is never obvious from the chart. I have found this to be a an issue with small bars that can have big negative impacts. Much oof this is gapping that I can filter out later assuming NEWS or weekend gaps.
3. So -- I have been investigating using HA and T3 on the 1M bars, before creating the Renko Bars.
4. Although the new RenkoChartsLive 3.0 EA uses LOW and HIGH from the 1M bars to generate Renko Bars, I find that this creates a lot of noisey R Bars. BTW - all of the literature/articles on Renko assume using the CLOSE of the 1M Bar.
5. Alternatively, I have written a revised RenkoChartsLive indi that smooths the 1 M bars using a rather high smoothing period ( 17 ) and then applying the Heinen Ashi smoothing on top of T3 AND THEN create the R Bars. I store the ACTUAL CLOSE of each Renko Bar in the History File for each R Bar.
I also build MultiSized R Bars that represent 1M bar movements that are bigger than a 3 pip RBar - say 6-9-12-15pips - whatever size it is. Then I can see and use actual info to generate trade signals.
6. SoOOO - when I calculate P & L on a trade, I am using the PreSmoothed R Bars for trade signal generation and the Actual Close Price to calculate pip wins and losses.
7. I have my own Renko Bar Tester for back testing and my results are quite impressive. BTW - I use an "always in" strategy.
Any thoughts on what I am doing??? This is probably gibberish to most, but I am guessing that other programmers might find this interesting.
KingHighNothing you said seemed gibberish for one. Your absolutely right about r-bars smaller than 10pips like 3-5pip bars... a 1minuter candle of 10-20pips could show a trend where in reality it could have been a missed or actually not a trade opportunity.
Sharing is caring, so please share your renko inventions and the renko bactester, because the only way i am backtesting at the moment is visually.
I really know that sooner or later from the collective minds of this forums and the people who are interested in this... we will finally find the Holy Grail system that will work on renko, ive managed to make pips, but in a rather crude manner. I am still doing R&D trying to find ways to have proper entry/exit/no-trade rules for this system.
Anyways the moment i come up with something concrete enough with rules and that is rock solid from this i will post it here.
But whatever has happened ever since i stumbled onto this tread has only been good for my trading, actually its brought new hope to me that this could end up being my permanent system as a trader for the rest of my life!
Renko indicator for metatrader
Hi guys, I have found also this renko indicator for metatrader. I was testing it and it seems very good. It represents price action very smoothly, I think even more smoothly than the script but I have notice that the last bricks will flicker and some of them will even disappear until the normal candle on the time frame you attach this indicator, get closed. For example, if you attach it to a 5 min chart, you might see blocks flickering until the 5 min candle get closed.
I don't know if this is something that can be fixed or not or it is just the way it have to be. I leave it to the programmers to take a look at it if they wish.
Also if someone here knows a little about programming and would like to add an alert to this indicator when blocks change colors will be great, because that way you can trade just basically following the direction of the trend without need of too many indicators.
Here is the picture and the indicator file.
?
Hi guys, I have found also this renko indicator for metatrader. I was testing it and it seems very good. It represents price action very smoothly, I think even more smoothly than the script but I have notice that the last bricks will flicker and some of them will even disappear until the normal candle on the time frame you attach this indicator, get closed. For example, if you attach it to a 5 min chart, you might see blocks flickering until the 5 min candle get closed.
I don't know if this is something that can be fixed or not or it is just the way it have to be. I leave it to the programmers to take a look at it if they wish.
Also if someone here knows a little about programming and would like to add an alert to this indicator when blocks change colors will be great, because that way you can trade just basically following the direction of the trend without need of too many indicators.
Here is the picture and the indicator file.I don't understand how to trade it...?...
I am still working trying find a good strategy for this indicator. I am testing different indicators trying to get the best ones we can apply to filter that flickering. If this can be done will be very easy to identify when to enter and exit the trades as the same block's color will tell you the price direction.
I will be posting something soon.
Well, I was playing a bit with the RenkoFx indicator trying to filter those flickering and is giving me good results in 1 hr chart with 1 pip brick size. I am filtering the entries with bollinger bands and MA applied to this indicator. Sell when renko bar close below BB and MA and opposite for buying. Place stoploss one pip below lower brick when buying, one pip above higher brick when selling. I am exiting using trailing stop of 10 pips a time or when I get an opposite signal if I haven't been stop out.
I have attached the template for those who want to give a try.
This is my chart
EA testing result
Have been testing the EA on VPS for several days, the result is not good. Screen shot attached.
?
Well, I was playing a bit with the RenkoFx indicator trying to filter those flickering and is giving me good results in 1 hr chart with 1 pip brick size. I am filtering the entries with bollinger bands and MA applied to this indicator. Sell when renko bar close below BB and MA and opposite for buying. Place stoploss one pip below lower brick when buying, one pip above higher brick when selling. I am exiting using trailing stop of 10 pips a time or when I get an opposite signal if I haven't been stop out.
I have attached the template for those who want to give a try.
This is my chartWhere is the template?
Well, I was playing a bit with the RenkoFx indicator trying to filter those flickering and is giving me good results in 1 hr chart with 1 pip brick size. I am filtering the entries with bollinger bands and MA applied to this indicator. Sell when renko bar close below BB and MA and opposite for buying. Place stoploss one pip below lower brick when buying, one pip above higher brick when selling. I am exiting using trailing stop of 10 pips a time or when I get an opposite signal if I haven't been stop out.
I have attached the template for those who want to give a try.
This is my chartIt's repaint? How do you shoot the signal and entry trade because the 1pip renko bar indi move to left and right all the time
Thanks
Time distorts the perception of supply and demand
Hello my trader friends, I want to thank LordFx for all his contribution to the thread. Please pay attention to what Flamenco has to say, he is an experienced FX warrior. This thread is special and should be treated seriously. As requested I'm posting xpma with Email Alerts... Enjoy!
. Also Lord Fx please, please clarify for the last time. If Xpma is already in a "buy" mode will you wait for a change in Heiken_Ashi (counter trend) and re-enter for a quick scapl if the Heiken_Ashi turns back to resume the original "long" trend. I mean it might take a long time to see an opposite signal with Xpma. Thank you!
Note: You must have MetaTrader setup correctly (ie Tools/Options/Email) to get the xmpa email alerts.
Who's Flamenco?
Hello my trader friends, I want to thank LordFx for all his contribution to the thread. Please pay attention to what Flamenco has to say, he is an experienced FX warrior. This thread is special and should be treated seriously. As requested I'm posting xpma with Email Alerts... Enjoy!
Who's Flamenco?