Renko bars
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Hi,
I'm looking for some help with an ea based on Renko bars.
It's hard to find a good exit point with these bars, as every indicator gives a late signal, when there is already a finished reverse Renko bar. With 10 pips bricks this is a 20 pips + spread loss.
As mostly I could manage to have at least 1 good bar, I'd like to exit at the end of current bar, where I've placed the order. Or, I'd like to place example 0.3 lot on first bar, at the end of this bar reduce the volume to 0.1 and keep this trade for longer. The profit made on first bar could serve as some protection or - in good case - a higher profit.My problem is (apart of improving my entry /exit signals...), to define the ending of current or next bar. My tries doesn't works well.
Many thanks in advance!
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Unfortunately I don't have working Renko bars here, this was always a bit confusing for me, but as I remember offline chart is used. Can you confirm that the EA is working at all on these charts? Once I added options to work with offline charts (Options->Project Options), but I have to refresh my mind about how this worked... Now, is the EA working actually?
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Hi,
Thank you for reply!
Yes, the EA works "mostly well" on renko, without to modify anything in the project options. However sometimes it does funny things, like placing orders shifted with 5-10 bars in the future (the vertical position is kind of good), or entry and exit points bit different than how it should be. These happens mostly after a restart of Metatrader (to try new setups) or when it takes too short (about seconds) or too long time (about hours) to form a bar.
I'm using free Renko chart EAs (RenkoLiveChart_v3.3 or RenkoMeanLiveChart_v1.0) placed on 1 minute timeframe chart. Probably I should try the script or the commercial version. Hard to find the correct answer, I'm not too skilled for... -
Hello,
I have a demo account with Trader's Way. This is for ECN trading. The offline chart shows the renko pattern and the price bar is fluctuating up and down as it should, but no trades in my EA are taken. My block after "no trade running, day and time" is "indicator is visible". I have the block looking back to the previous candle. I'm kind of at a loss for what I'm doing wrong. The symbols from the demo account are shown on MT4 as GBPUSDi for example. My parameters in the blocks are set to market "current".Any help would be greatly appreciated!
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Always check if the EA works on the normal Tester first. If the problem is in the indicator, then why even thinking about the renko chart. If the problem is not in the indicator, then it can be something else. Do you know what is the problem?
Recently I did some update so all MQL4 EAs can detect if the chart is offline, but I think this works on the latest 2-3 MT4 builds. These days checked this and it worked.
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__Hi,
Thank you for reply!
Yes, the EA works "mostly well" on renko, without to modify anything in the project options. However sometimes it does funny things, like placing orders shifted with 5-10 bars in the future (the vertical position is kind of good), or entry and exit points bit different than how it should be. These happens mostly after a restart of Metatrader (to try new setups) or when it takes too short (about seconds) or too long time (about hours) to form a bar.
I'm using free Renko chart EAs (RenkoLiveChart_v3.3 or RenkoMeanLiveChart_v1.0) placed on 1 minute timeframe chart. Probably I should try the script or the commercial version. Hard to find the correct answer, I'm not too skilled for...[/quote:kp1qcuwr]Hello
Maybe i can help you. For renko chart i use commercial indicator http://www.az-invest.eu/renko-tick-char ... etatrader4.
Also look very carefull on backtest problem and you will see what exatlly hapens with renko http://www.az-invest.eu/how-to-properly ... -tick-data.i hope i help you.
