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new renko

C

christiaan

So i tried out a renko system.I did not like it.But i dug up this amatuer system i say amatuer because it is not sold commercailly and i think it has a lot of potential.

Cannot seem to find a manaul but i think it does not need one really.Have a look at the chart and if you are intrested you can download the indicators and template
 

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saivenkat

Member
Nice work..

Nice work..

I am also looking for some tweaks in the Renko template.. This one is good.. i checked it with my Crude oil charts now.. as long as the market is trending.. the Chaos money line indicator is fine.. but then as the market turns in to whip saw mode.. this Chaos money indicator REPAINTS..

Secondly the Chaos oscillator, i my opinion is lagging a bit.. IMO further tweaks are needed..by replacing these two indicators with some non-lag ones?

How about using HMA (20) instead of Chaos money line indicator..

PS: This one repaints the last bar formed.. Please share your views..

Regards
Saivenkat..:)
 

saivenkat

Member
Pls clarify

Pls clarify

Why the renko charts look different AS I RESTART MY METATRADER?

I attach here the two thumbnails.. If you look at the first one.. you could see the Renko bricks some what distorted..( the one which i have marked)

When i restart the mt4 platform.. the Renko bricks have re-oriented in to more or less in a straight line.. ( see thumb nail 2 attached)

What could be the reason for this? Can anyone clarify it. Thanks

PS :I think this problem is not there when i used RANGE BARS?

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Regards
Saivenkat:)
 

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C

christiaan

Why the renko charts look different AS I RESTART MY METATRADER?

I attach here the two thumbnails.. If you look at the first one.. you could see the Renko bricks some what distorted..( the one which i have marked)

When i restart the mt4 platform.. the Renko bricks have re-oriented in to more or less in a straight line.. ( see thumb nail 2 attached)

What could be the reason for this? Can anyone clarify it. Thanks

PS :I think this problem is not there when i used RANGE BARS?

You must be registered for see images
[/URL] Uploaded with [/IMG]

You must be registered for see images
[/URL] Uploaded with [/IMG]


Regards
Saivenkat:)


When you restart meta trader with a renko chart already loaded all it says is price where here and now it is there.Remember renko has no time.In order to see what really happened you need to reload the 1m frame and open a new renko chart.

It is also easy to spot you will get a huge move with no retracements at all.So do not restart meta trader with a renko chart already loaded.Close the renko chart and open a new one.This is a problem with renko itself

In hindsight the system i posted has to repaint because it is too accurate.Do not think there is any use in it.
 
C

christiaan

well at least the arrows does not repaint though the oscillator does still figuring that one out.I see now that looking at past data with this system is not going to give you potential trades.Will start testing it live starting tomorrow i think this one can be profitable
 
C

christiaan

what the hell is going on here.I'm completly confused.I tried running it with a 1 pip boxsize to see how these indicators come together because everything seems to repaint and worse with a 1 pip boxsize it does not seem to work properly or perhaps it does

I think this is a load of crap.Will take my time to try to figure it out tomorrow
 

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