Trading with renko. - page 2
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It's a visualization technique.
Suppose a brick is 25 pips and you enter at two bricks in the same direction then that's a buy or sell signal 50 pips from your starting point.
It will draw two nice same size and same color bricks, but 50 pips is 50 pips with or without Renko so you do not need the bricks in an EA the bricks are for the eye only to make it look good.
You can stick a formula one sticker on your car to make it look fast but in reality it won't be any faster it will be the same as before but it could look faster.
It's kinda deceptive because there will be people who will think that it is faster due too the looks of it, and that same principle goes for the nice Renko charts, some believe it could magically generate unlimited profits from those perfect looking trends.
So you only need to apply the calculations you do not need the bricks or even a chart, at all.
Sorry but if it was that easy everyone would do it.
Things i think you are wrong (sorry if it sounds bad because of the lenguage barrier):
- You can't just apply the brick thing you are saying on your first line because it uses time and that is the main purpose of renko, eliminate it.
- If you take just the surface of a completly different charting sistem and just supose it only is for make it look good you and me have a completly different way to see things.
- Renko it's not faster, nor slower. It goes in a completely different flow.
- If Renko was that easily and taking all the trends was easy as looking and counting how many bricks there are in a direction i would be out of buisness and my degree would be less than toilet paper.
- And last, why should i do something that a machine can make for me and let me think on the more important things?
BTW i'm not idolizing renko, i'm not saying it's perfect or even good, i'm just a young technical analyst that loves to try everything to make the best EA possible, just for fun, and if money comes along it's very welcome.
You can drop that script from ovo to your already generated offline/renko chart.
This will add a new "fake mt4 server" and convert your renko data to a "M1 timeframe" - you open that "fake mt4 server" and do your Strategy Tester/Backtest there with that "fake M1 data" which represents your renko chart.
https://ovo.cz/products/free-mt4-utilities/offline-test-helper/ (OfflineTestHelper.ex4)
Sorry but if it was that easy everyone would do it.
Things i think you are wrong (sorry if it sounds bad because of the lenguage barrier):
- You can't just apply the brick thing you are saying on your first line because it uses time and that is the main purpose of renko, eliminate it.
50 pips is 50 pips regardless of time.
It's the same.
But you can believe whatever you want to believe, that is fine with me.
Sorry but if it was that easy everyone would do it.
Things i think you are wrong (sorry if it sounds bad because of the lenguage barrier):
- You can't just apply the brick thing you are saying on your first line because it uses time and that is the main purpose of renko, eliminate it.
- If you take just the surface of a completly different charting sistem and just supose it only is for make it look good you and me have a completly different way to see things.
- Renko it's not faster, nor slower. It goes in a completely different flow.
- If Renko was that easily and taking all the trends was easy as looking and counting how many bricks there are in a direction i would be out of buisness and my degree would be less than toilet paper.
- And last, why should i do something that a machine can make for me and let me think on the more important things?
BTW i'm not idolizing renko, i'm not saying it's perfect or even good, i'm just a young technical analyst that loves to try everything to make the best EA possible, just for fun, and if money comes along it's very welcome.
yeah most renko generators look at CANDLES :
they see a bullish candle of 250 pips, they will draw 5 bullish bricks of 50 pips
but in reality this doesn't happen that way, there is movement inside a candle.
otherwise as you said it would be really easy.
to get accurate renko charts, use MT5 because it can read ticks inside a candle