How can I integrate Renko charts?
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How can I integrate Renko charts in FXDREEMA, which are also optimizable in the optimizer? Can you give an example?
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renko charts are mostly offline charts (in MT4) and they have some name, like EURUSDM2 ... M2 means timeframe 2, so in fxdreema blocks change timeframe to 2 (with variable or constant value)
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@miro1360
I will implement it by overlaying the MT4 chart with an indicator corresponding to the Renko signals (and so that the MT4 optimizer does not torture for weeks). This is not visually beautiful but gives the correct signals. The signals are to be created over several higher-level time windows. Traded in the M5 time window. A test is worthwhile. The problems then come by themselves - one after the other
For me, the eurusd is rarely a pair for renko. Too many bridges/tails. rather audcad. Renko in connection with formatioen, MA, Pivot, and multitimeframe, rounding no .., Renko is not a enty signal but bevor that starts I have some other projects. Renko-charts are for the out-of-range-trading!!!
A professional trader has written a book about range trading with the renko chart. Very low RRR ratio on H1 or H4. I trade as well but as always: without a big account ......Example Formation:
