Renko Price Action Idea

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traderduke
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Re: Renko Price Action Idea

Post by traderduke »

I have been using or trying to use Renko for quite some with limited success, may be somebody here can spot the problem. The indicator works well on its own and signels when to enter & the ea of course backtest GREAT but not forward.

When you remove the timprev (line 243)or newbar it losses some of its backtest lustor.

the ea is set up for eurusd Renko 15 pip brick w timeprev ON.

I know the set up is inefficent but until I get it to forward test WELL, we can fix it later.

One of the best backtest, LIEs, is a 15 pip Renko with a 12 pip takeprofit especially with trend2 removed

Any suggestions???

PS: added renko ea for full disclosuer.

Ray
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Alpenkorps
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Re: Renko Price Action Idea

Post by Alpenkorps »

Hi Guys,
I am working on a similar strategy for 3 months now, did a lots of backtesting on this.

Practically, it has nothing to do with Renko, its a grid trading system with anti-martingale recovery method. And believe me, no matter what Grid size you use, it will blow your account sooner than you expected. Until that day, it will produce awesome result. Eventually, you will reach level 8-9-10 and the death trade will come.

I got best result with 15 pip grid on EU. Based on my calculation, till level 8 its all good, but from level 9 it becomes pretty ugly. I got level 9 trade many times on a visual backtest of 2011. Probably some of you did visual backtest too, and the reason it looks pretty great, because you are using renko, it hides all the ranging inside it. Try the indicator I have attached below, its a combination of renko and rangebars. You will see what I am talking about.

So far, I got only one idea that can turn this system into Holly Grail. We must develop a strategy that will give 1 winner out of 4 trades, so maximum looser trade in a sequence is 3. Then we can use Trade 1-4 normally, when trade 4 fails, use trade 5-8 on the strategy that will produce a winner. What do you think?
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SSL
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Re: Renko Price Action Idea

Post by SSL »

"traderduke"]I have been using or trying to use Renko for quite some ......................................


Lot of potential here at SH forum. Fantastic brains at work here. been lurking and following SH, JW, GVC, TD/RK at FF. found ya here Steve. Kudos to ya for a Brilliant forum Steve.

Hi TD/RK,
Nice contributions from you on FF. have been following ya lately. Am a fan of HAMA indi. I have been working on HAMA, and see that it works better than VQzz and a lot of other indies... and the great little add-on in HAMA indi is the STEP feature, its gud at greatly minimizing the whipsaws.
I have been testing HAMA on Baskets Off-charts and single pair regular charts, renko charts as well, from 8 weeks, trying diff MA method & Period, and STEP, for diff pairs and TFs and diff Renko Pip boxes... the STEP is highly useful in minimizing the whipsaws.
Testing still on.
I dont have enough time to test, take all the trades using HAMA manually as I spend 10 hrs at work+commuting time. An EA based on HAMA signals would put us on fast-track to arrive at winning settings.
If you could get some time to code the HAMA to HAMA-EA (a very simple EA, which only trades on BUY/SELL signals, with min. RM features like SL, TP, BE, TS for eqt. protection) to trade HAMA signals with MA Method, MA Period & STEP only.
HAMA has a lot of potential, better than any other indie IMHO as I ve tested 100s of indies. HAMA is gud at detecting trends, and with STEP we can minimize losses due to whipsaws. no need of any filters. just trade HAMA signals.
TD/RK, lets arrive at a winner.
Thank you.
Mony
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traderduke
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Re: Renko Price Action Idea

Post by traderduke »

SSL
Here is an EA with HAMA, its just something quick and should be refined. Test it and let me know your opinion.


SSL wrote:"traderduke"]I have been using or trying to use Renko for quite some ......................................


Lot of potential here at SH forum. Fantastic brains at work here. been lurking and following SH, JW, GVC, TD/RK at FF. found ya here Steve. Kudos to ya for a Brilliant forum Steve.

Hi TD/RK,
Nice contributions from you on FF. have been following ya lately. Am a fan of HAMA indi. I have been working on HAMA, and see that it works better than VQzz and a lot of other indies... and the great little add-on in HAMA indi is the STEP feature, its gud at greatly minimizing the whipsaws.
I have been testing HAMA on Baskets Off-charts and single pair regular charts, renko charts as well, from 8 weeks, trying diff MA method & Period, and STEP, for diff pairs and TFs and diff Renko Pip boxes... the STEP is highly useful in minimizing the whipsaws.
Testing still on.
I dont have enough time to test, take all the trades using HAMA manually as I spend 10 hrs at work+commuting time. An EA based on HAMA signals would put us on fast-track to arrive at winning settings.
If you could get some time to code the HAMA to HAMA-EA (a very simple EA, which only trades on BUY/SELL signals, with min. RM features like SL, TP, BE, TS for eqt. protection) to trade HAMA signals with MA Method, MA Period & STEP only.
HAMA has a lot of potential, better than any other indie IMHO as I ve tested 100s of indies. HAMA is gud at detecting trends, and with STEP we can minimize losses due to whipsaws. no need of any filters. just trade HAMA signals.
TD/RK, lets arrive at a winner.
Thank you.
Mony
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SSL
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Re: Renko Price Action Idea

Post by SSL »

[quote="traderduke"]SSL
Here is an EA with HAMA, its just something quick and should be refined. Test it and let me know your opinion.
......................................

Hi TD

Brilliant piece of work as usual from you. A very nice EA. I cannot Thank You enough. :D :D :D
Started Testing RK-HAMA-T3_EA-wtrendwdayw8.5TrlS from yesterday.
I tested it on GOLD since it happens to be very volatile and fast moving and to know how sensitive & vulnerable the EA is to faster movement & high volatility, so that once we can optimize it on XAU we would be able to trade it on any currency pair with ease. I tested it on M1 & M5.

The Pic1 shows the EA is trading as expected taking the MAmethod, Period and Step settings & BetterFormula of the HAMA indi perfectly. This with Signals Exits is ON & MM is OFF.
1.gif
EDIT:
One more finding: If I close a buy/sell order manually (before the next signal exit & Rev. entry), then the EA places an order again in the same direction. The EA shud not have to place an order again in the same direction until next Buy/Sell signal if we manually close an order.
EDIT:
One more finding: If an order is stopped out by Trailing Stop, the EA places an order again in the same direction.The EA shud not have to place an order again in the same direction until next Buy/Sell signal if an order is manually closed or stopped out by TP/SL/Trailing Stop. ;)

The Pic2 shows that the EA did not trade at all when Signals Exits is OFF & MM is ON.
( This is the same issue that I noticed when using the EA - RK-T101 Basket Trader v2-HAMA on regular chart single pairs, even this EA would not trade when using SL or TP or TS)
This issue needs to be fixed with the EA since Signal-Exits would give back lot of pips due to delayed exits; and any TS method would help us with trailing the trends to the maximum extent possible.
2.gif
Pic3- The EA was tested on Renko offline charts, and pretty much the EA had gone berserk trading on Renko Offline chart :roll:. I understand it was not made to trade on Renko offline. ;)
(This can be completely ignored as trading the EA on Renko is not a priority now because of lot of inherent glitches with Renko charts themselves).
3.gif
All in all, This EA is a fantastic piece of work with great TS options :ugeek: . Kodus to ya RK.
I luv this EA. It only needs some refinements; and considering your exceptional coding skills I am sure it would perform wonderfully if its fixed and fine tuned. :!:

Thanks again for your fantastic contributions and time.
Eagerly Awaiting Your Response.

Best Regards,
Mony
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SSL
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Re: Renko Price Action Idea

Post by SSL »

Hi TD,

Still eagerly waiting for your response.
Thanks a lot.

Best Regards,
Mony
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traderduke
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Re: Renko Price Action Idea

Post by traderduke »

Alpen
Can you tell me why your Renko conversion is so different , see attached both are 10 pip , from the FF version "renkolivechart_v3.2", which is on page 2 of this blog. The top chart also shows your spider EA which is working very well on the EURUSD but won't trade on anything else.

I believe that we can win 3 out of 5 trades and if we set up the martingale correctly Yahaha. My thoughts;
1. Set up renko charts, need different brick sizes for most pairs due to activity.
2. use the KC indicator and EA; need separate values for each pair.
3 use martingale after losses.

PS: just found out if I load the Spider onto the chart then close platform and then reopen the platform Spider goes to work immediatly!
Alpenkorps wrote:Hi Guys,
I am working on a similar strategy for 3 months now, did a lots of backtesting on this.

Practically, it has nothing to do with Renko, its a grid trading system with anti-martingale recovery method. And believe me, no matter what Grid size you use, it will blow your account sooner than you expected. Until that day, it will produce awesome result. Eventually, you will reach level 8-9-10 and the death trade will come.

I got best result with 15 pip grid on EU. Based on my calculation, till level 8 its all good, but from level 9 it becomes pretty ugly. I got level 9 trade many times on a visual backtest of 2011. Probably some of you did visual backtest too, and the reason it looks pretty great, because you are using renko, it hides all the ranging inside it. Try the indicator I have attached below, its a combination of renko and rangebars. You will see what I am talking about.

So far, I got only one idea that can turn this system into Holly Grail. We must develop a strategy that will give 1 winner out of 4 trades, so maximum looser trade in a sequence is 3. Then we can use Trade 1-4 normally, when trade 4 fails, use trade 5-8 on the strategy that will produce a winner. What do you think?
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Last edited by traderduke on Fri Mar 09, 2012 3:53 pm, edited 1 time in total.
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traderduke
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Location: East Coast USA

Re: Renko Price Action Idea

Post by traderduke »

SSL
Sorry for the delay I've been away. That HAMA EA doesn't work well with Renko it over reaches on the reversals. I couldn't find any settings that were consistent winners, sorry! If you still want it I'll fix it so it only enters on reversals.
If look at the code you will find I have "//" out the reversal criteria, just delete it .
Have you looked at my input at the top of the page? Here is another one that I've been working on which shows promise on renko.
SSL wrote:Hi TD,

Still eagerly waiting for your response.
Thanks a lot.

Best Regards,
Mony
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traderduke
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Re: Renko Price Action Idea

Post by traderduke »

Alpen
One of the indicators I use to try and determine the best size brick per pair is this sq indicator. The day and time boundries don't seem to work , if anyone cpould get them working it would be a great help. The GBPUSD chart shows a over all 29% or 246 for single bricks which are all potential loosers, but that means 71% or 601 mulitiple sequences which are winners. 71% winners more then 3 out of 5. Is that what your looking for? The 15pips brick on this chart for the GU is the best size. Some of them range up to 35% loosers.

You should know that when I put the SQ on my Renko EA for EURUSD 10pip chart I get 33% loosers but on your 10 pip chart I get 57% loosers??? I don't think you want that 1renko... pip converter!

I'm attaching the SQ. Let me know what you think?
traderduke wrote:Alpen
Can you tell me why your Renko conversion is so different , see attached both are 10 pip , from the FF version "renkolivechart_v3.2", which is on page 2 of this blog. The top chart also shows your spider EA which is working very well on the EURUSD but won't trade on anything else.

I believe that we can win 3 out of 5 trades and if we set up the martingale correctly Yahaha. My thoughts;
1. Set up renko charts, need different brick sizes for most pairs due to activity.
2. use the KC indicator and EA; need separate values for each pair.
3 use martingale after losses.

PS: just found out if I load the Spider onto the chart then close platform and then reopen the platform Spider goes to work immediatly!
Alpenkorps wrote:Hi Guys,
I am working on a similar strategy for 3 months now, did a lots of backtesting on this.

Practically, it has nothing to do with Renko, its a grid trading system with anti-martingale recovery method. And believe me, no matter what Grid size you use, it will blow your account sooner than you expected. Until that day, it will produce awesome result. Eventually, you will reach level 8-9-10 and the death trade will come.

I got best result with 15 pip grid on EU. Based on my calculation, till level 8 its all good, but from level 9 it becomes pretty ugly. I got level 9 trade many times on a visual backtest of 2011. Probably some of you did visual backtest too, and the reason it looks pretty great, because you are using renko, it hides all the ranging inside it. Try the indicator I have attached below, its a combination of renko and rangebars. You will see what I am talking about.

So far, I got only one idea that can turn this system into Holly Grail. We must develop a strategy that will give 1 winner out of 4 trades, so maximum looser trade in a sequence is 3. Then we can use Trade 1-4 normally, when trade 4 fails, use trade 5-8 on the strategy that will produce a winner. What do you think?
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lexmark
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Renko Price Action Idea

Post by lexmark »

nice
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