Renko EA

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aaronwilemon
16
aaronwilemon  
Hey everyone! I am trying to create my own Renko EA because I really like the indicator and think it would be very profitable if I could get it to trade automatically. I was wondering if you have any tips for how to create one? I have tried on meta editor but I am not 100% sure what preferences to put in. I have EA builder but I am still struggling with how to get it working. Any advice, tips, comments, concerns are much appreciated. Thank you. 
Marco vd Heijden
Moderator
8178
Marco vd Heijden  

please search codebase.

aaronwilemon
16
aaronwilemon  
Marco vd Heijden:

please search codebase.


Thank you. I have download a couple. The only thing about them is I do not know all of the conditions. I am trying to make it enter at a certain point of the candles, in addition to being above the 200MA. So, I do not know if these are too specific this is why I am trying to create my own as well. Moreover, I would like TP and SL as well. 

Marco vd Heijden
Moderator
8178
Marco vd Heijden  

Its a visualization technique.

There is no difference 200 on a renko chart is 200 on a normal chart, it just removes the time component and draws bricks to remove noise that did not go over the draw a brick level.

So if i set an entry point +200 then it will be the same entry point, with and without renko.

The question then becomes what exactly are you trying to accomplish ?

aaronwilemon
16
aaronwilemon  
Marco vd Heijden:

Its a visualization technique.

There is no difference 200 on a renko chart is 200 on a normal chart, it just removes the time component and draws bricks to remove noise that did not go over the draw a brick level.

So if i set an entry point +200 then it will be the same entry point, with and without renko.

The question then becomes what exactly are you trying to accomplish ?


I am trying to create one so that it will trade automatically. I am using a renko indicator now, but spending countless hours in a front of a screen is very time consuming. So, if I can create a EA it will benefit me greatly. 

Marco vd Heijden
Moderator
8178
Marco vd Heijden  

Okay so then you do not need the indicator.

Just write a robot that enters on +X and -X and set tp and sl values accordingly.

Michael Maggi
1854
Michael Maggi  

Marco is quite right about not needing an indicator for the EA to operate because the Renko bricks are a visualization only designed to not confuse the human eye and elimate "market noise" that confuses the human brain.  The math is simple and doesn't need bricks (a Japanese concept that predates computer trading.)

There are a lot of EAs that trade Renko strategies in MARKET and you might want to start there. before you spend money developing something that already exists.

There are Renko oneline charts and offine charts. When you look over codebase and in other forums this may not be immediately obvious.

Be sure to start with a DEMO account so you can reconcile the market with realizations of the market.

I am very pro Renko and use Renko is some markets every day, but there are aspects of Renko trading that are not immediately obvious.

Renko is just a way of trying to see the market movement but it does not mean you trade it: on the charts below I am trading the middle chart -- D1 on the short side of the daily swing.
Files:
Sergey Golubev
Moderator
106126
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

Renko EA entry based on color candle

aaronwilemon, 2017.08.07 19:54

Hi,

I'm looking for an EA that does these :

(1). Open Position - it will BUY (for bullish candle) or SELL (for bearish candles) on next open candle. E.g. , if previous candle is Bullish, open BUY on next candle open.

(2). Close Position - after candle has changed color. 


Summary :
Bullish candle -> Bullish candle (open BUY position) -> Bullish candle -> Bearish candle -> Closed position.



Vice versa for bearish candle.

(3). Repeat the above 2 steps as long as the EA is running.

(4). Entry, Add-ons and Close position parameters :
- Able to select between 0-10 candle gaps = being 0 as Disabled, and 1 being "at least 1 same color candle" before trigger Open or Close position, etc.

Does anyone has any info on this ?

Thank you! 


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