Mr.Nims, Renko Ashi Scalping System. - page 36
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I know guys this thread is basically related to trading heiken ashi with renko charts but I have been doing some backtesting on renko charts using different strategies and EAs because I believe this is it. Renko charts has a lot of potential, way more than regular charts.
I did test the EA I have attached here, the Hilo breakout, using renko and it opened trades for me on a renko chart while testing it with the strategy builder on the metatrader platform with awesome results!! Just look at the picture. But I can't make it to open trades in live market on the offline renko chart. I don't know why. There are many other EAs like the same heiken ashi EA we have been talking about here that will open trades on an offline renko chart, also the macd Ea will works on an offline chart, etc,. but this one I can't make it trade.
I think if we can fix it, we'll nail it, that's it. So please, can someone take a look at the EA code to see if we can make open trades on an offline renko chart? This Ea what it does is just basically following the renko bars direction, doesn't use any indicator, just pure price action. It was design to use on a breakout of a daily candle but it works like a sharm on renko bars.
Jetsetwillyx, thaks a lot for offering your help as as programmer, that's what we need here. Would you give it a try?Working here just added code for extra digit broker!
Working here just added code for extra digit broker!
Mrtools, where did it work for you? On the "live offline" renko chart or on the strategy tester? I mean, is it opening for you live trades on renko chart?
Please if you can give more details...
Mrtools, where did it work for you? On the "live offline" renko chart or on the strategy tester? I mean, is it opening for you live trades on renko chart? Please if you can give more details...
Check out the picture live offscreem M14 chart on Alpari demo.This is the Ea with extra digit capability.
Check out the picture live offscreem M14 chart on Alpari demo.This is the Ea with extra digit capability.
It is not opening for me...!!!
I don't have Alpari installed in my computer. I am testing with fxdd. Mr.Tools may I ask you something... which version of renko script are you using to plot your renko chart? I have notice that some EAs don't open with every type of renko charts... maybe is that....
It is not opening for me...!!!
That could be the problem, to answer your question using the commercial script.
That could be the problem, to answer your question using the commercial script.
Oh, well... too bad, I don't have that one....
That could be the problem, to answer your question using the commercial script.
Well, it finally open a trade for me after a long waiting! But I don't understand the logic behind why it open it there.... I was using 1 pip renko bar in a 10 min offline renko chart so it suppose to open a trade at the break of a 1 pip bar, or not?
Well, it finally open a trade for me after a long waiting! But I don't understand the logic behind why it open it there.... I was using 1 pip renko bar in a 10 min offline renko chart so it suppose to open a trade at the break of a 1 pip bar, or not?
My understanding of the code is the Ea sets global variable"uplevel"(high) + pipsadd and "dnlevel"(low) - pipsadd when you place it on the chart then uses bid greater or less than up or down level to place an order, to check it out go to your chart Ea is on go to tools/global variables the up and downlevel should be there. IMO this Ea is good if you visually decide the trend then only allow only long trades or only short trades, or maybe >< ma or something to determine trend.It is not based on daily high or low it is based on your chart time, from what I can see.
My understanding of the code is the Ea sets global variable"uplevel"(high) + pipsadd and "dnlevel"(low) - pipsadd when you place it on the chart then uses bid greater or less than up or down level to place an order, to check it out go to your chart Ea is on go to tools/global variables the up and downlevel should be there. IMO this Ea is good if you visually decide the trend then only allow only long trades or only short trades, or maybe >< ma or something to determine trend.It is not based on daily high or low it is based on your chart time, from what I can see.
OK..ok... so it is based on up or down levels....uhmmm that's weird. I download it from some forum saying it was for trading the breaking of the daily candle but it could be used also at the breaking of any candle in any time frame. That's why I tested with renko bars and in the strategy tester was fantastic but now in real live is trading very different....
Mr.tools, can this EA be change it to open trades at the breaking of the previous renko bar instead of the breaking of the up and down levels?
Other thing for what I see those levels keep changing.... The trade that was open when I posted the pic. resulted in a +12 pips profit, another trade closed @ -6 pips and I have another open in profit at this time, but still I don't know, is opening trades different to the way I thought.
try this...
OK..ok... so it is based on up or down levels....uhmmm that's weird. I download it from some forum saying it was for trading the breaking of the daily candle but it could be used also at the breaking of any candle in any time frame. That's why I tested with renko bars and in the strategy tester was fantastic but now in real live is trading very different....
Mr.tools, can this EA be change it to open trades at the breaking of the previous renko bar instead of the breaking of the up and down levels?
Other thing for what I see those levels keep changing.... The trade that was open when I posted the pic. resulted in a +12 pips profit, another trade closed @ -6 pips and I have another open in profit at this time, but still I don't know, is opening trades different to the way I thought.Try doing this masps, use the same metatrader that you did to run the strategy tester and run it to the date the ea made the live trades. See if the trades match up in backtesting but make sure you use the same metatrader so the data is the same and not slightly off.
Should work out either the same, slightly off or totally different trades but then you'l know whether its a winner.
Happy Pips!
bh4v1k