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Renko Simple System

#1
Hi Guys, hope this might be of some use to someone. It's a Renko chart based manual system seen here on a 3 point Renko bar Dax chart. It's based on a strategy found online called Mr Nims Forex Renko Chart Strategy (free).

Arrow entry trigger when matched with colour candles, sloping colour MA and slope of MACD.

The arrows are a simple lwma cross and don't appear to repaint on a live run but of course the Renko chart itself repaints on restart so backtesting is difficult.
The black dotted MA is a standard 20 period smoothed and the MACD is standard minus the histo.

Place the .dll file in the mt4 Libraries folder (File > Open Data Folder > MQL4) then place the Range bar chart ex4 file as an indicator on a 1 minute chart, then open the corresponding M2 Offline chart and load the additional indicators onto the M2 chart.

As with all systems of this type price needs to be trending and so if the MAs are horizontal there will be many false triggers. Rectangle off any sideways price action and wait for price to breakout before looking for trade entries.

What I like about this system is it encourages you to get in even if you miss the break and to add on when price runs.

Most mt4 Renko and Range bar charts will not show bars that occurred while mt4 was shut down but if you start mt4 and wait a minute then close and restart all the missing bars will load.
Renko1.png
Range bar chart.ex4
(15.69 KiB) Downloaded 474 times
RangeBars2.dll
(84 KiB) Downloaded 432 times
IINWMARROWS.mq4
(7.04 KiB) Downloaded 406 times
MA in Color_wAppliedPrice.mq4
(4.7 KiB) Downloaded 387 times
smC4Scalper Candles_v3.1.ex4
(8.24 KiB) Downloaded 388 times


Re: Renko Simple System

#2
looks good
does that arrow indicator repaint?


Ogee wrote:
Sun Dec 01, 2019 12:40 am
Hi Guys, hope this might be of some use to someone. It's a Renko chart based manual system seen here on a 3 point Renko bar Dax chart. It's based on a strategy found online called Mr Nims Forex Renko Chart Strategy (free).

Arrow entry trigger when matched with colour candles, sloping colour MA and slope of MACD.

The arrows are a simple lwma cross and don't appear to repaint on a live run but of course the Renko chart itself repaints on restart so backtesting is difficult.
The black dotted MA is a standard 20 period smoothed and the MACD is standard minus the histo.

Place the .dll file in the mt4 Libraries folder (File > Open Data Folder > MQL4) then place the Range bar chart ex4 file as an indicator on a 1 minute chart, then open the corresponding M2 Offline chart and load the additional indicators onto the M2 chart.

As with all systems of this type price needs to be trending and so if the MAs are horizontal there will be many false triggers. Rectangle off any sideways price action and wait for price to breakout before looking for trade entries.

What I like about this system is it encourages you to get in even if you miss the break and to add on when price runs.

Most mt4 Renko and Range bar charts will not show bars that occurred while mt4 was shut down but if you start mt4 and wait a minute then close and restart all the missing bars will load.

Re: Renko Simple System

#3
mosape wrote: looks good
does that arrow indicator repaint?


Ogee wrote:
Sun Dec 01, 2019 12:40 am
Hi Guys, hope this might be of some use to someone. It's a Renko chart based manual system seen here on a 3 point Renko bar Dax chart. It's based on a strategy found online called Mr Nims Forex Renko Chart Strategy (free).

Arrow entry trigger when matched with colour candles, sloping colour MA and slope of MACD.

The arrows are a simple lwma cross and don't appear to repaint on a live run but of course the Renko chart itself repaints on restart so backtesting is difficult.
The black dotted MA is a standard 20 period smoothed and the MACD is standard minus the histo.

Place the .dll file in the mt4 Libraries folder (File > Open Data Folder > MQL4) then place the Range bar chart ex4 file as an indicator on a 1 minute chart, then open the corresponding M2 Offline chart and load the additional indicators onto the M2 chart.

As with all systems of this type price needs to be trending and so if the MAs are horizontal there will be many false triggers. Rectangle off any sideways price action and wait for price to breakout before looking for trade entries.

What I like about this system is it encourages you to get in even if you miss the break and to add on when price runs.

Most mt4 Renko and Range bar charts will not show bars that occurred while mt4 was shut down but if you start mt4 and wait a minute then close and restart all the missing bars will load.
I watched it all day yesterday (Friday) and didn't notice any repainting or back painting but as with all mt4 Renko charts the renko bars themselves repaint on a restart so the arrows will shift as well. The chart pic was taken during Friday live session with no mt4 restart. If you look at the code it's very simple and though I'm no coder I can't see anything to suggest repainting arrows, it looks to be a simple MA crossover.
ps, I've forgotten how to use the quote function, sorry if I've mucked it up.

Re: Renko Simple System

#4
Another simple Renko system;

Note the MathTrader7_RenkoChartCreatorEA is version 1.63 updated October 2019 and goes in the Experts folder, then from the Navigator tab after a 'refresh' is loaded onto a M1 chart which creates and opens an offline chart (M3).

The other indicators once installed in the Indicators folder can then be loaded onto the offline chart.
Ren1.png
MathTrader7_RenkoChartCreatorEA.ex4
(64.66 KiB) Downloaded 297 times
! MTH b700+ Marked ZigZag Channel Indi.ex4
(21.31 KiB) Downloaded 289 times
RSI_TripleHull_COL.mq4
(8.38 KiB) Downloaded 279 times


Re: Renko Simple System

#7
Ogee wrote:
Sun Dec 01, 2019 12:40 am
What I like about this system is it encourages you to get in even if you miss the break and to add on when price runs.

Most mt4 Renko and Range bar charts will not show bars that occurred while mt4 was shut down but if you start mt4 and wait a minute then close and restart all the missing bars will load.
Hi, template file is missing. I would use bands or strength indicators to filter sideways of different heights.

Re: Renko Simple System

#8
friend4you wrote:
Thu Jan 09, 2020 5:04 am
Ogee wrote:
Sun Dec 01, 2019 12:40 am
What I like about this system is it encourages you to get in even if you miss the break and to add on when price runs.

Most mt4 Renko and Range bar charts will not show bars that occurred while mt4 was shut down but if you start mt4 and wait a minute then close and restart all the missing bars will load.
Hi, template file is missing. I would use bands or strength indicators to filter sideways of different heights.
Thank you yes bands are good, here is today's Dax on a 5 point Renko offline chart with the iinwmarrows and a tma non-recalc with atr bands;
ps, not sure how to make a template that would incorporate the Renko offline chart.
Rk1.png
extreme_tma_line.ex4
(14.25 KiB) Downloaded 156 times

Re: Renko Simple System

#9
This time a 5 point Renko Dax chart with a nrp WPR obos exit arrow indicator, the neat trick with this one is that it has an input 'First signal only' off/on which removes all the subsequent extra arrows though may mean the better signal is missed.
Also on the chart is a 20 and 50 ssma and a 56 centered tma (white). The 2nd window is the curious Heisenberg V2 which I've looked at off and on for some time now and still can't quite work out, some say it repaints but I've not really noticed, maybe in bar length. Here the dev period is set to 5.
ex4 files only.
wpr1.png
Heisenberg V2.ex4
(11.82 KiB) Downloaded 148 times
WPR OverBought OverSold Arrow Signals.ex4
(6.23 KiB) Downloaded 175 times

Re: Renko Simple System

#10
Ogee wrote:
Fri Jan 10, 2020 9:23 pm
This time a 5 point Renko Dax chart with a nrp WPR obos exit arrow indicator, the neat trick with this one is that it has an input 'First signal only' off/on which removes all the subsequent extra arrows though may mean the better signal is missed.
Thanks, looks good, I would prefer the wpr version of Chaos, which famous mladen made for me long ago. The mod is the old version.
What other indicators do you prefer?
chaos averages.zip
(384.97 KiB) Downloaded 127 times


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