Mr.Nims, Renko Ashi Scalping System. - page 338
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Hi Mr. Nims,
Thanks for your reply.
Is there any way to process history data same as live data whatever time frame we use?? Same as the OVO member's renko script.
Bcoz sometimes i notice, even I use M1 also got some different from live data.
My back test result with strategy tester (it use history data) not tally with the live.
Regards
Ong
Hi Ong,
Usually for just manual trading purposes, the m1 data is more than enough. But if your trying to backtest an EA on renko charts, you need the complete tick data suite for mt4's renko strategy tester.
Here's one link to get the tick data suite for mt4 mod.
Forex Tick Data | Birt's EA review
next to backtest renko properly with tick data suite, you can use this website.
How to properly backtest RangeBars, MedianRenko, Renko and PointO using Tick Data with 99% modeling quality – Forex Trading Tools | Metatrader tools & plug-ins
Regards,
Nick
Easy Renko
Next Trend Traders LLC
I just put together a few indicators from different systems and by surprise made a solid Renko system. This week made on demo 257 pips! Problem is, I don't have a name for it yet to kick it commercial.
Cheers Hermes
Hi Mr. Nims,
Thanks for your reply.
Is there any way to process history data same as live data whatever time frame we use?? Same as the OVO member's renko script.
Bcoz sometimes i notice, even I use M1 also got some different from live data.
My back test result with strategy tester (it use history data) not tally with the live.
Regards
OngUse as much data as you can get your hands on for BackTesting/Optimization. I am not so sure that you will get great results when you go live on a real account.....
MT4 is error prone,
Slippage,
The results that you get from MT4 tester are worth about as much as a handful of muddy water, you will need more software to do proper analysis.
I had some further thoughts regarding EA for Renko.
The tool used to form the bars is like a filter and you do not have control as to how many pips are in each bar because of the rules of bar formation.
That causes huge problems regarding entries and exits. You would have to use a moving average, I think and that will bring drawdowns due to chop, you can not get away from those drawdowns.
My thinking is that a Renko EA would be quite inefficient, perhaps better to use a couple donchian channels and be ready to reoptimize every couple hours which would be difficult.
Actually the fastest way to make money with Renko is to use the commercial chart that Nick offers, I know that he gets a few hundred pips a week off that chart with no great effort.
Hi DaveM,
I never needed an EA, the manual trading itself is sweet and I love the experience each trade gives me. (Sweat on the forehead while its floating in red and Heart pumping with Smile when its gone in the green)
What an EA can actually do is Chase the market, after a buy setup next is a sell setup, after a sell setup next is a buy setup.
And that's all the EA will do, Chase the market. Buy then sell then buy then sell.
What a Human can do is use his Judgement to see if the setup has a high probability (Example if its formed at a know support or resistance) or he can visually see its a long trend and perhaps the new setup may just be a retrace, therefore avoiding it or buying the dips or rallies. He can see there's a major news coming out and so he will stay off the market until it clears up or maybe he just wants to wait for an obvious trend and go old school trading with hit n run scalping on high lot sizes. And many more things humans CAN do that a dumb robot can't.
Don't call yourself a trader if you run an EA.
Robot is coding, science and statistics vanity. Trading is an art..
Regards,
Nick
Easy Renko
Next Trend Traders LLC
Renko trading with low brick pips you have to babysit the trades like scalping trading. That's why I trade Daily. I am too lazy trade for a few pips. Renko EA would be beneficial that we have some time to visit also our girlfriends and spend some won money with them. Ha, ha, ha...I have idea about Renko EA but nobody is capable to do it! Renko trading is the same like play in casino black & red. Bricks are bricks.
Hermes
Hi everyone,
Maybe this topic is too old but i need to ask. I've been trying for a few days to display renko bars but I can only make it to the point when the new M2 chart pops up and it says "Waiting for update". That's all
.
Sometimes it displayed well but not updating and so creating new candles... I've the M1 chart running and did everything that was in the manual. Also, I need to close metatrader before drop the EA in the M1 chart so M2 shows up on the offline list.
Soz for my bad english and thank you all in advance. I'm learning a lot.
Varo
Varo
I wonder if you have enuf data in the M1 chart
I do not like sitting at the screen either......., but for quick money, a few hours in the busy market pays quite well...
I have some daily charts.... set and forget for a few days.
We all have a different set of requirements and use different approaches to meet those.
Happy Weekend, everyone!
Renko trading with low brick pips you have to babysit the trades like scalping trading. That's why I trade Daily. I am too lazy trade for a few pips. Renko EA would be beneficial that we have some time to visit also our girlfriends and spend some won money with them. Ha, ha, ha...I have idea about Renko EA but nobody is capable to do it! Renko trading is the same like play in casino black & red. Bricks are bricks. Hermes