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Renko Method
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Author:  maahome [ Thu Oct 31, 2013 6:48 am ]
Post subject:  Renko Method
First,

Hello to everyone! I am pleased to have joined this community. First, if this post is in the wrong area I humbly apologise. Second, please note that I am not a coder but I am a full time trader. I have been reading this forum and note there are quite a few posts about renko bars.

I have traded renko bars successfully on a manual basis for a while and I would like to try and get an ea coded to do the same. Before I waste anyone's time, I need to state that I use a custom TEMA indicator on the actual offline renko chart. This gives entry and exits for the strategy. I use it 2 ways, one using the indicator crosses to enter or exit and the second is just a hard stop loss take profit for exit (usually when I am going to bed I use the second method). This often causes a miss of reasonable profits and that is why I want to see if it is possible to use an indicator of this type on an offline chart.

I have a friend who does Empty4 coding but he really knows very little about renko and offline charts so he could not help me in that respect. If there is someone here who would like to consider the idea please let me know. many thanks and good trading to all.

John
Author:  phil_trade [ Thu Oct 31, 2013 11:05 am ]
Post subject:  Re: Renko Method
maahome wrote:First,

Hello to everyone! I am pleased to have joined this community. First, if this post is in the wrong area I humbly apologise. Second, please note that I am not a coder but I am a full time trader. I have been reading this forum and note there are quite a few posts about renko bars.

I have traded renko bars successfully on a manual basis for a while and I would like to try and get an ea coded to do the same. Before I waste anyone's time, I need to state that I use a custom TEMA indicator on the actual offline renko chart. This gives entry and exits for the strategy. I use it 2 ways, one using the indicator crosses to enter or exit and the second is just a hard stop loss take profit for exit (usually when I am going to bed I use the second method). This often causes a miss of reasonable profits and that is why I want to see if it is possible to use an indicator of this type on an offline chart.

I have a friend who does Empty4 coding but he really knows very little about renko and offline charts so he could not help me in that respect. If there is someone here who would like to consider the idea please let me know. many thanks and good trading to all.

John
Hi John and Welcome !

Sure you will find someone here to help you. May be you should post some graph example and your TEMA code indi.

cheers

Philippe
Author:  maahome [ Thu Oct 31, 2013 8:37 pm ]
Post subject:  Re: Renko Method
Hello Phillipe,

Thank you for the kind welcome. I will put together a document outlining the strategy I use and upload with the indicator as soon as I can put the rules into a sensible order for anyone to understand :) . Again, nice to be here.

John
Author:  maahome [ Thu Oct 31, 2013 10:36 pm ]
Post subject:  Re: Renko Method
Hello Everyone,

Here is the relevant information and files to consider this idea. I have put a full description document in that explains the method in detail. For all you experienced traders and coders please forgive me for the very simplified explanation I have included on how I work with renko's (and how I handle their ranges). Many of you probably have far more experience than I in trading. There is also a chart graphic showing the sequences of trades, these are also described in the overview document.

Thanks
John
Renko EA Project_Hopwood.pdf
EUR_Renko_20Capture.pdf
renko_3_14.tpl
TEMA.mq4
TickingAllCharts_1.mq4
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