90% Winning strategy with Renko Chart.(Actually works 90%..wow) - page 2

Marco Montemari
20746
Jox90:
This strategy is not profitable. I made a quick ea and saw the results: bad.

maybe you can attach a screenshot to show when it fails and near bars. otherwise people should trust your words

Renato Takahashi
3099
JonahHasArrived:

Very simple. Use the standard 8-10 pips renko bars, I prefer 8 pips.


If you wanna use bitcoin, set it at 14000 pips(which is about 10 pips).

So you wanna go to the four hour chart, and look for 3 bars and one candle reverse. After you see the price action setup, enter on the 2nd bar(in pictures). For me I put my take profit at the end of the 2nd bar, so I'm guranteed 10 pips every trade.


Also, to see if it's a legitimate 3 bar reversal switch to the 1hr back to the 4hr. If the 3 bars setup dissappear, don't TRADE! I Repeat do not take the trade. If it still shows up the setup when you switch time frames, ok then those are permanent renko bars that will stay there.




Here's how many times it worked on bitcoin. x is for lost, blue line is for win:


If you travel scroll over left more, you will see it worked pretty much all the time, even though there were losers at times




I am using Renko now and It is really 90% profitable... 
Osman Goni
15
Osman Goni  
I am new 
Stephen Place
9
Stephen Place  
Me too! I don't know what's happening here 😕 
Jonathan Mcbrine
2233
I have a friend who tells me unless someone can show you a certified earnings report, then don't believe it to be profitable.  Lot's of scammers out there claiming they are profitable.  I had to design EA's that hid the tp and sl because the brokers are corrupt.  Many EA's run good in demo, because they let you make money there, but once you go live your toast.  Before I hid my tp and sl in my EA'S, I would run mine in demo for months with amazing profits, then live was toasted.  It wasn't until I hid the tp and sl from them that I was making money in live demo. 
Sergey Golubev
Moderator
124903
Sergey Golubev  
Jonathan Mcbrine #:
I have a friend who tells me unless someone can show you a certified earnings report, then don't believe it to be profitable.  Lot's of scammers out there claiming they are profitable.  I had to design EA's that hid the tp and sl because the brokers are corrupt.  Many EA's run good in demo, because they let you make money there, but once you go live your toast.  Before I hid my tp and sl in my EA'S, I would run mine in demo for months with amazing profits, then live was toasted.  It wasn't until I hid the tp and sl from them that I was making money in live demo. 
read post for example.
Can backtest results be too good to be true?
Can backtest results be too good to be true?
  • 2021.11.28
  • www.mql5.com
Tested on nasdaq from 12th oct to 5th nov using real tick data from my own broker and low risk trades 0...
ddchbm
65
ddchbm  

A key issue here as I see it is in regards to the stop loss. Particularly at higher timeframe settings, price can do all sorts of craziness during that window of time... so how do we know where to set a stop loss based on these charts?

This as I understand it is why it's recommended to use very low timeframes with renko bricks (e.g. 1m max); i.e. so we're not waiting too long for price changes to get printed.

Correct me if I'm wrong? I'm coming from the world of TradingView so I'm used to using renkos on that platform. 😀