I just wanna ask one thing.
What about backtesting Renko on new mt4 (upgraded MQL4)?
Is someone has a script for that?
Maybe you can find a solution for that in this document : off-line_charts_faq.pdf
Good morning mladen :
Could modify this indicator to the new version of MT4.
Please, thank you very much.
Here you go (it will work in build 509 and in the new builds too)
can you give me another hint on how to trade this one?
I tried an H1 chart as a source but then I encounter heavy repainting. So I took M1 as a source...but still I don´t exactly know when to enter a trade. As soon as the signal changes? Or after 2 bars? Or another method? Second question would be, what do I enter for "Starting Price"? The current price?? I appreciate your help!
First : your only source is always 1 minute charts !
Second : it's a type of graph, apply indicators,etc ...
Find your own way, but a little advice, everybody here says they make thousands pips per day, that's bull......
Try to aim to 10 pips or 20 pips a day, do your maths, and you will see in long term.
Because people in general have a very short view, you must think in years !
I was wondering if you would be so kind as to take a look at the attached indicator and just adjust it to work in the new MT4 600 build. For some reason when i load it onto a chart the space where it should be stays blank.
Thanks a lot
Thanks Big Joe!
That already helped me a lot. I will try only the 1 minute chart as a source.
Just one more question. The Renko has an option where I can enter a number for "Starting Price". Currently it is set to 161.001. I guess that is from a JPY-Pair. Do I always have to enter the current price of the currency I am on? Or does "Starting Price" have a different meaning?
Or did you mean "Starting Price = it's a type of graph, apply indicators,etc ..." ?
Here you go
have a nice weekend
I don't touch to this setting, but for euro and gbpusd you could put a value that's more near their quotes.
And i wanted to say that RENKO is a type of chart
Hi My Friend Gfuchs,
This 'StartingPrice' input is like 'anchor point' to start slashing the price range with your brick/box size, and yes that 161.001 came from GBPJPY the .001 is slight adjustment since the calculation not to accurate with round number.
basically you can set all JPY pairs with StartingPrice = 100 (JPY parity) and for Non JPY pairs like EURUSD etc you can set with StartingPrice = 1 (generally non JPY parity). and sometimes for exotic pairs just look the quote before decimal and round it for example 9.0024 you can put StartingPrice to 10, and for XAUUSD you can put StartingPrice = 1000.
Hope it help and best regard.