Wapen's Renko auto-trading EA

[Wapen]

I have been trying to win with renko for 2 years. The backtest scores GREAT but the forward fails badly. There is another renko called spider which works off of the same principal as this EA but you double down which seems to make a big difference. My view is to use bigger bricks ,20 to 35. It gives the Ea room to win if the size provides us with enough bricks in a row which why I use the brick counter, see attached. It seems to give me a slight edge. Right now I'm using a 25 brick with your TP & SL at 1. I'll check back later.

Can Steve or you add a keltner channel to the EA?? It can help with the turns, see attached!

Hi,

Thanks for the input and indicators. One can actialy make a system on ots own with the Kelter Chanel. In the EA there are already countless trend detection goodies. You can look at the AllAverages_v2.1. lower down in the code. This indicator have big potential MA, EMA, up to 18 diverent setups.

At this stage I want to get the feel of the one bar sell/buy and will later look at adding a filter.

Wapen

[Wapen]

Hi Steve,

After a week of testing I have the Following Suggestions.

Can the TP and SL be based on the closing price of the candle [1] and not the Bid/Ask price. As currently there are some-time the SL is hit before the new candle open and then retrace, that could have been a winner.

Thanks
Wapen

[pete14]

Hi Wapen,
I see that your Myfxbook account called Forex Robot old does have very impressive results.
Which robot are you using? Is it scoobs Forex Robot? If yes, which version are you using? What are your settings?
Thanks a lot in advance
Pete

[Wapen]

Hi Wapen,
I see that your Myfxbook account called Forex Robot old does have very impressive results.
Which robot are you using? Is it scoobs Forex Robot? If yes, which version are you using? What are your settings?
Thanks a lot in advance
Pete

Just posted it in http://www.stevehopwoodforex.com/phpBB3 ... &start=160
thread, used in with 0.05 lots only trading 2 currencies when started. If change it now to 3 currencies with the same lot setting.

Wapen

[SteveHopwood]

Hi Steve,

After a week of testing I have the Following Suggestions.

Can the TP and SL be based on the closing price of the candle [1] and not the Bid/Ask price. As currently there are some-time the SL is hit before the new candle open and then retrace, that could have been a winner.

Thanks
Wapen

Set TpBricks to > 0 to use the Remko brick size multiplied by this input to produce a take profit. Ditto SlBricks. These inputs override TakeProfit and StopLoss inputs.

This should have the same effect. So, taking the tp as an example:

• - brick size = 15
  - TpBricks = 1: tp is 15 pips.
  - TpBricks = 2: tp is 30 pips, and so on.

Sing out if this is not what you mean.

[Wapen]

Hi Steve,

After a week of testing I have the Following Suggestions.

Can the TP and SL be based on the closing price of the candle [1] and not the Bid/Ask price. As currently there are some-time the SL is hit before the new candle open and then retrace, that could have been a winner.

Thanks
Wapen

Set TpBricks to > 0 to use the Remko brick size multiplied by this input to produce a take profit. Ditto SlBricks. These inputs override TakeProfit and StopLoss inputs.

This should have the same effect. So, taking the tp as an example:

• - brick size = 15
  - TpBricks = 1: tp is 15 pips.
  - TpBricks = 2: tp is 30 pips, and so on.

Sing out if this is not what you mean.

That's correct bit the TP is currently calculated on the current Bid/ask price + 15 when opening the trade. This produce a overlap at the TP and it is thus higher or lower than what the actual brick will close and thus the TP&SL are take to late or early. Thus basting the TP & SL on the closed price of the candle and not the Ask/bid when the trade was open will ensure that it will be on the predicted close of the new candle!

Hope this clarify it more.
Wapen

[SteveHopwood]

Hi Steve,

After a week of testing I have the Following Suggestions.

Can the TP and SL be based on the closing price of the candle [1] and not the Bid/Ask price. As currently there are some-time the SL is hit before the new candle open and then retrace, that could have been a winner.

Thanks
Wapen

Set TpBricks to > 0 to use the Remko brick size multiplied by this input to produce a take profit. Ditto SlBricks. These inputs override TakeProfit and StopLoss inputs.

This should have the same effect. So, taking the tp as an example:

• - brick size = 15
  - TpBricks = 1: tp is 15 pips.
  - TpBricks = 2: tp is 30 pips, and so on.

Sing out if this is not what you mean.

That's correct bit the TP is currently calculated on the current Bid/ask price + 15 when opening the trade. This produce a overlap at the TP and it is thus higher or lower than what the actual brick will close and thus the TP&SL are take to late or early. Thus basting the TP & SL on the closed price of the candle and not the Ask/bid when the trade was open will ensure that it will be on the predicted close of the new candle!

Hope this clarify it more.
Wapen

Yes it does. I will make the changes in time for next week.

[SteveHopwood]

Latest update in post 1. I have changed the base price for tp/sl calculation to the close of the previous candle.

[Wapen]

Thanks Steve,

Have restarted my test. One for 15pip bars and one for 10 pip bars. The one in MyFxbook are 15pip bars.

Now to get the best currency pairs for this strategy.

Wapen

[Nipponho]

Goodness! Everybody, please take a look at Wapen's demo on Scooby-doo's forex robot. Look at the drawdown vs return. My god.

Wapen, hope u don't mind this Have a good day!