Ok, well lets give it a try, maybe someone here can help me with programming.
I would like an indicator where its possible to adjust the code here and there. And where its possible to do a backtest over the 100k bars..
A possible trade idea is that we should try to get ridd of the time.., the timefactor make all the graphs and indicators confusing with eachother. So what’s next? Let’s try to make an indicator/system purely on the move a graph is making independent of the factor time.. Therefore i use Renko as a basis.
Renko-tradingsystem (lets try this for example on the emini Dow), who can help me here with the programming?
Setup:
– RenkoBlocks on the high and low of the Dow, so we have set the Renkobricks defined on the intra-block movement of the Dow on the high and low.
– lets do a 1% brick value on the dow (would be nice if its adjustible) as a renkobricksize of the dow.
– lets use daily bricks, but preferably it must work on intraday data as well with the same setup below:
Setup:
– Intraday position: only if the week-renko and the day-renko are aligned with the intraday position, only then we take a intraday position.. For example, lets say we want to go long on an intraday renko chart? it must having a weekly long renko signal (1%/ highlow bricks) and a daily long renko signal (1% / high low bricks). When going short it’s the way around.
Signals Renko Long and Short:
– Longsignal renko: IF the renko-brick is above the 40-brick exponential moving average (40-ema) of that timeframe . THEN Open longtrade at the opening of the next normal graphbar after 2 successive renko longbricks (here I take 2)
– Shortsignal renko: IF the renko-brick is below the 40-brick exponential moving average (40-ema) of that timeframe. THEN Open shorttrade at the opening next normal graphbar after 3 soccesssive renko shortsbricks (here I take not 2 but 3)
Exit’s Renko:
Exit Long Renko: After 3 successive renko shortbricks have formed (against the renko long trend of that timeframe), close at the opening of the next normal graphbar as soon as possible. OR close as soon as possible if a renko brick closes below the renko ema-40
Exit Short Renko: After 2 successive renko longbricks have formed (against the renko short trend of that timeframe), close at the opening of the next normal graphbar as soon as possible. OR close as soon as possible if a renko brick closes above the renko ema-40
Re- enter Renko:
Re-enter Long Renko: IF the renkobrick closes above the ema-40 renko, AND have 2 new successive renko longbricks THEN Re-enter long at the opening of the new bar of normal graph as soon as possible
Re-enter Short Renko: IF the renkobrick is below the ema-40 renko, AND have 3 new successive renko shortbricks.. THEN Re-enter short at the opening of the new bar of normal graph as soon as possible
Looking forward to see if someone here make this indicator/system visually to see as arrows long and short in prorealcode and show the results of the backtest of this indicator/system.. 🙂
.
