New Renko System

• 03/24/2018 at 10:38 PM #66286
  verdi55

  If you want to see how this system works in a Renko chart and whether it works correctly, open a Renko chart of your choice first and set the brick size there to your desired value. Then set BS in line 5 to this value, too. Then, set “4000” in line 9 to an exact arbitrary upper value of a Renko brick in the Renko chart. xx must be zero, then.

  Finally, open a second chart of the instrument showing normal bars and run the backtest there. Then you should be able to compare the backtest showing all the buy and sell signals to the Renko chart.

  The system buys or sells short after at least 2 Renko bricks have appeared in the opposite direction of the current Renko trend.

   

  1 user thanked author for this post.

  Real Pro

  

  verdi55

  Participant

  Topics: 2

  Replies: 311

  Been thanked: 84 times
  03/25/2018 at 10:01 AM #66303
  Nicolas

  Thanks professor Verdi for enlightening the community 😉

  Your system is a nice proof of concept about how to get the most from a fixed renko brick size.

  What about using renko size adjusted automatically on ATR value then?

  

  Nicolas

  Keymaster

  Topics: 81

  Replies: 20863

  Been thanked: 4773 times
  03/25/2018 at 10:25 AM #66304
  verdi55

  I don’t know. You can set “boxsize” in line 5 to ATR * factor, for example in order to try. I remember having tried ATR long ago, but to no avail.

  I now tried percent of price as boxsize instead (boxsize = close * factor), but the results do not improve, you get only more positions and less gain per position.

  This is a problem in any case : 6 points average gain per position is not a good value when you take slippage and higher night spreads into account.

  You need quite some capital to run a Renko grid system with, say, 20 variations, because you need to be able to sustain a drawdown of maybe 2000 points in all of them, which would be 40.000 €.

  

  verdi55

  Participant

  Topics: 2

  Replies: 311

  Been thanked: 84 times
  03/25/2018 at 10:28 AM #66307
  verdi55

  @nicolas : Is there a way to get (export) the equity curve of a single Renko system to Excel and then to sum up the equity curves of all of the 99 different systems to a cumulated curve ? I suppose, not.

  It would be interesting to see what this looks like, whether it will be smoothed compared to the single curves and what average drawdowns there are.

  

  verdi55

  Participant

  Topics: 2

  Replies: 311

  Been thanked: 84 times
  03/25/2018 at 10:36 AM #66311
  Nicolas

  Apart from exporting all the backtests results with drag and drop to Excel and build your own equity curve from there, no 😐

  ATR bricks size would be more sensitive to whipsaws I believe. Even if the SMA I added to the renko code could be assimilated to a ‘step moving average’, it could also interesting to adapt its period to market behavior, like the way we do with many other adaptive MA. Not so confident to improve something though..

  

  Nicolas

  Keymaster

  Topics: 81

  Replies: 20863

  Been thanked: 4773 times
  04/09/2018 at 10:49 AM #67660
  Lord Soth

  Hi guys! I find the “Renko bricks Volumes” indicator very usefull (thanks Nicolas!) and i would create a simple trading system that opens long positions when renko bricks are green and close when red and viceversa. Can you help me?

  

  Lord Soth

  Participant

  Topics: 0

  Replies: 1

  Been thanked: 0 times
  01/02/2021 at 2:11 PM #155962
  eckaw

  Nicolas wrote:

  Please find attached the breakout indicator in its current state. You can choose the quantity of same renko boxes to allow or not the peaks or troughs detection with the ‘breakoutLength’ setting.

  
  @Nicolas I assume there is no way to apply this indicator directly on top of the price chart?  It seems to appear below the price, as also indicated on your screenshot. Thanks.

  

  eckaw

  Participant

  Topics: 13

  Replies: 118

  Been thanked: 61 times
  01/03/2021 at 7:17 PM #156117
  ullle73

  anyone using renko?

  

  ullle73

  Participant

  Topics: 51

  Replies: 178

  Been thanked: 7 times
  01/04/2021 at 8:57 AM #156147
  Nicolas

  @eckaw if you add the indicator on the price, then it should appear on the price (main window)! 😉

  

  Nicolas

  Keymaster

  Topics: 81

  Replies: 20863

  Been thanked: 4773 times
  01/19/2021 at 8:42 PM #158573
  eckaw

  @Nicolas – thanks, I tried that but it doesn’t appear on the chart. The chart seems to ‘zoom out’ when I apply the indicator but it doesn’t appear on the chart. I seem to remember I have had a similar problem with a custom indicator I bought but can’t figure out how to fix it.

  An help would be appreciated.

   

  

  eckaw

  Participant

  Topics: 13

  Replies: 118

  Been thanked: 61 times
  01/20/2021 at 9:48 AM #158631
  Nicolas

  verticale scale: use the price only.

  

  Nicolas

  Keymaster

  Topics: 81

  Replies: 20863

  Been thanked: 4773 times
• Author
  Posts