All about Renko - page 4

New comment
 
Hermo:
Good evening to everyone:

mrtools

Renko repints?? The same case that if you don't wait to close of candlestick. Renko does NOT repint.

I always said that for this system must wait to close the candle. You can check it in the prevoius posts https://www.mql5.com/en/forum/183258 I remark it on red color!

There are solutions to test a strategy in renko without wait months.

Renko & Tick Chart plug-in for Metatrader 4 � Forex Trading Tools | Metatrader tools & plug-ins

I don't want sell it, but it only costs $50, per 2 licenses!

The people who works in renko, have to have the best tools for do it (as I have).

Thank you anyway, but I think it is not a serious excuse.

Bye bye

And I say goodbye forever, thank you anyway for all helps that I can did along time. I don't doubt anytime about your capacity of programming but anyway, bye.

Hermo, try restarting any renko chart on any renko indicator or EA and the chart will be different every time, its not an excuse it's a fact. Wish you the best!!

 

Hermo

Since renko depends on the starting time, and since it is changed all the time (depending on the starting bar that is taken into calculation), renko repaints. You can check it in a simple way : let it work one day, then generate new renko chart tomorrow and compare it to what you had yesterday

You can find some more information on that issue at this thread : https://www.mql5.com/en/forum/181271 . That is an issue that prevents it from being used in a normal way as far as EAs are concerned. I did my share of EAs based on repainting stuff and all that I can say is that it is impossible to code a reasonable EA based on repainting stuff, let alone on data (renko data) that can not be back tested and is changing values in the hindsight for each newly generated data set

______________________________

As of the rest (that obviously made you angry) : it was told repeatedly that we need forward testing of some system (with strict rules applied) for at least a couple of months before an expert advisor is built based on that system. Why is it difficult to understand that there must be a 2 way street as far as systems are concerned otherwise one side would be in a constant danger of losing tremendous amount of time? And where on TSD was ever stated that TSD is a place for coding services? It is a place where ideas and code are shared and where we eventually work together on ideas, but it never was a "coding service place" nor will it ever be anything similar. That is a whole different idea all together

______________________________

all the best

 

I do not want to open a dispute it is useless

You have decided to make a certain decision.

Have a good night

i will seek help else were

 
dasssi:
I do not want to open a dispute it is useless

You have decided to make a certain decision.

Have a good night

i will seek help else were

Well hopefully you and Hermo will find someone to code it for you, Wish you the best as well!

 
mladen:
Hermo

Since renko depends on the starting time, and since it is changed all the time (depending on the starting bar that is taken into calculation), renko repaints. You can check it in a simple way : let it work one day, then generate new renko chart tomorrow and compare it to what you had yesterday

You can find some more information on that issue at this thread : https://www.mql5.com/en/forum/181271 . That is an issue that prevents it from being used in a normal way as far as EAs are concerned. I did my share of EAs based on repainting stuff and all that I can say is that it is impossible to code a reasonable EA based on repainting stuff, let alone on data (renko data) that can not be back tested and is changing values in the hindsight for each newly generated data set

______________________________

...

______________________________

all the best

Hi mladen,

I would like to disagree to your statement of "repainting Renko Charts".

I am using amongst others the tick data based Renko charts of AZinvest. The developer recently wrote a very good blog article mentioning the repainting issue.

The AZ offline Renko charts are built using 1min regular charts. When I am offline over night and reactivate and update the Renko charts in the morning I only receive variations over the past 10-30 bars. From the Renko generation principle the closed bars in a steadily updated Renko chart are not repainting, meaning if a Renko bar is closed it remains closed.

You focussed the repainting issue for closed bars to varying starting points of the starting bar. This "repainting" issue can be easily overcome with a proper implementation by defining a fixed starting date for the Renko generation (ref. blog article above). Even if you are not defining the starting date, the repainting issue remains small if the Renko charts are generated from regular 1min charts.

If you are trading with Renko charts that are steadily updated and which can react in realtime also in spike situations you have an very exciting chart eliminating the time(frame) dimension and reducing the chart to a pure price/action tool. It is a great environment for indicators like

- the centered non-lag MA you once developed. Because it is centered it repaints a bit as well but it is highly reduced in a Renko environment.

- Fractals indi based on the Absolute Non-Lag MA

- Fractal Dimension Index indi based on the Absolute Non-Lag MA or

- The Goertzel-Browser based on your Absolute Non-Lag MA or the Hodrick Prescott filter

 
Boxter:
Hi mladen,

I would like to disagree to your statement of "repainting Renko Charts".

I am using amongst others the tick data based Renko charts of AZinvest. The developer recently wrote a very good blog article mentioning the repainting issue.

The AZ offline Renko charts are built using 1min regular charts. When I am offline over night and reactivate and update the Renko charts in the morning I only receive variations over the past 10-30 bars. From the Renko generation principle the closed bars in a steadily updated Renko chart are not repainting, meaning if a Renko bar is closed it remains closed.

You focussed the repainting issue for closed bars to varying starting points of the starting bar. This "repainting" issue can be easily overcome with a proper implementation by defining a fixed starting date for the Renko generation (ref. blog article above). Even if you are not defining the starting date, the repainting issue remains small if the Renko charts are generated from regular 1min charts.

If you are trading with Renko charts that are steadily updated and which can react in realtime also in spike situations you have an very exciting chart eliminating the time(frame) dimension and reducing the chart to a pure price/action tool. It is a great environment for indicators like

- the centered non-lag MA you once developed. Because it is centered it repaints a bit as well but it is highly reduced in a Renko environment.

- Fractals indi based on the Absolute Non-Lag MA

- Fractal Dimension Index indi based on the Absolute Non-Lag MA or

- The Goertzel-Browser based on your Absolute Non-Lag MA or the Hodrick Prescott filter

Boxter

After all we can agree that we agree

Renko does depend on the starting point and depending on that starting point the rest of the values can differ too. And that is the part that you, me, the authors of azinvest renko chart or any other renko implementation will agree simply because it is a truth. But also, please read the post that caused my response about the renko charts too and why I was talking about that part (the "repainting" part) of the renko charts

Also, one addition : renko is anything butt a standard type of charting (it highly depends on the implementation used and on the principles used in code to generate renko offline data). So, what works one way in one set of data created by one implementation will most probably not look the same on another set of data that is generated by another implementation of renko offline data "generator"

________________________

But let this subject (about renko) go. Please read only the posts on the 1st page of this thread and see how meany times on that page alone the trading rules were changed. I will repeat once more : guys, please, if there are no trading results for at least of couple of months of forward trading (not drawing lines where one supposes the trades should have happened, but real opened and closed orders) please do not consider that as a trading system that should be automated. Idea of a trading system and a real trading system are not the same and will never be the same.

Frankly, when I see that rules are changed on the fly I simply turn around and never look back at a system like that as anybody would do when someone else does that (due to my 25 years of coding experience, when rules are changed on the fly it usually means that strict rules actually do not exist at all and a system without strict rules is impossible to code - computers are laging behind our feble miinds and are lacking our imagination, and they do just what they are told, and when the set of rules is not defined to the last letter, then the results are not going to be what our mind imagined). Good trading systems are very hard to invent. So, please, let us all be serious and don't assume that anything that comes to mind is a trading system without actually testing at and checking in our manual trading routine

 

TSV renko (probably XO but I found with this name) tsv__renkofx.mq4

Files:
tsv_renko.gif  24 kb
tsv__renkofx.mq4  3 kb
 

EA BB.DNJ_Renko

Good morning everyone:

First of all, sorry for my english.

Mladen or mrtools, could you build an EA that I explain here?

We'll use 2 indicators:

- BB Macd nrp - mtf & alerts & labels 1.01, we will use to define the trend.

- directional normalized juice, to execute the orders.

Always when the bars closes.

Rules for buy:

When the value of BB Macd cross up from bottom to up of the middle line, we enter in uptrend, the order will be activated by the indicator directional normalized juice, which first must be positive, going to negative and when go again to positive, confirming the trend, we enter the buy order at candle closes, always looking that the BB Macd never be negative.

I attach a picture to clarify the concept:

Rules for sell:

When the value of BB Macd crossing up to down the middle line, we enter in downtrend, the order will be actived by the indicator directional normalized juice, which first must be negative, going to positive and when go again to negative, confirming the trend, we eter a sell order at the candle closes, always looking that the BB Macd never be positive.

I attach a picture to clarify the concept:

The EA must have the following parameters:

Parameters of indicator BB Macd nrp - mtf & alerts & labels 1.01.

Parameters of indicator directional normalized juice.

Take Profit=x pips.

Stop Loss=x pips.

Move.To.BreakEven.at.pips= x (When the price will be in x pips on profit)

Move.To.BreakEven.Lock.pips =x (we move to breakeven on 0. If we put different number, e.g. 3, it will move to breakeven +3 pips of profit)

Number of consecutive trades per direction = x (How many trades are allowed in the same direction, I mean, once the conditions of BB Macd are right, if the directional normalized indicator gives us 4 signals but we only put on this param the number 2, it will operates 2 times until the macd indicator changes of trend).

I attach a picture to clarify the concept:

Please, any questions you have about the EA, let me know.

I will waiting for your notices.

Thanks in advance.

Hermo.

1234
New comment
Reason: