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Renko Candle problems
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Author:  alphakenny1 [ Mon Aug 06, 2012 9:42 pm ]
Post subject:  Renko Candle problems
hi

i need some help with a ea im writing for a renko chart

how do i program the ea to send the trades at bar open, and close them at bar close

i guess a simple Open[0] <> Close[1] would do the trick for opening segment, but how can i define the close without the EA going in to a endless loop of opening and closing orders??

would
if (Open[1] - Close[1] || Open[1] + Close[1] > RenkoCandleBody) send close. . . . . . ; work?
Author:  NeoTrader [ Mon Aug 06, 2012 10:37 pm ]
Post subject:  Re: Renko Candle problems
hi alphakenny1,
alphakenny1 wrote:i need some help with a ea im writing for a renko chart

how do i program the ea to send the trades at bar open, and close them at bar close

i guess a simple Open[0] <> Close[1] would do the trick for opening segment, but how can i define the close without the EA going in to a endless loop of opening and closing orders??

would
if (Open[1] - Close[1] || Open[1] + Close[1] > RenkoCandleBody) send close. . . . . . ; work?
The open of the current bar implicates the close of the previous bar...I'm not that much in to EA's...but from a logical standpoint this should work... just close the previous order before you open your new order at the open of the new bar.

just my two pips

happy trading,

NeoTrader

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Author:  alphakenny1 [ Tue Aug 07, 2012 1:01 am ]
Post subject:  Re: Renko Candle problems
Thank you for a quick reply and the confirming response

So i just have to implement a check for open trades before sending new orders, thank you.

I am not sure if this is the right way, but i can not see a different method of detecting bar close when working with renkos. Open for suggestions

Alpha
Author:  crashout [ Tue Aug 07, 2012 6:51 am ]
Post subject:  Re: Renko Candle problems
You know that each renko candle is X pips, so to find the open you need to find the close (hum :)).

To find the close, maybe you can make a thing like X+1 pips, or something in this style.

Or another thing, it depends of the length of your renko, here you can work with round numbers, for exemple if closes at 1.2340 so we have the renko close.

Just my 2 pips, i know nothing :D
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