Topic: Renko Charts
Hi.
Is there any plans to include renko charts in the software?
Thanks.
Create and Test Forex Strategies
You are not logged in. Please login or register.
Forex Software → Forex Strategy Builder Professional → Renko Charts
Hi.
Is there any plans to include renko charts in the software?
Thanks.
Based on the complexity of forming Renko bars, I would think that might be very low on the To-Do list.
It is most difficult to create a reliable expert for Renko, many have tried.
Popov has made FSBPro a precision machine and Renko would not conform to that precision.
Thank you. I believe it would be a great help for building trends.
Yeah i wanted to write it too, please please please add support for Renko/Mean Renko & Range Renko bars!, this will increase the working environment, im very interested!, here is how they are built: i got a few scripts from AZ-INVEST.eu, they have more info about those stuff..
Mean Renko bars =
Range Renko Bars =
Hi I'm very interested from renko charts in FSB too.
Do you have any progress adding renko charts?
I'm working on other tasks right now. The Renko charts are not a priority at the moment.
Interesting article about the backtesting of renko charts: http://mechanicalforex.com/2010/07/dont … range.html
There have been very few , if any, successful Renko ea's developed.
They all look great in backtests, and then fail in forward testing.
I have coded a couple for entries, those have worked ok, I have used a trade manager for the exits.... but I found that I missed a lot of profits.
There have been very few , if any, successful Renko ea's developed.
They all look great in backtests, and then fail in forward testing.
I have coded a couple for entries, those have worked ok, I have used a trade manager for the exits.... but I found that I missed a lot of profits.
Thats because you did not use 99.00% tickdata from ducascopy converted into Renko charts...,
i have a commercial Renko builder script that converts ducascopy tickdata into renko charts,
so that is possible i wish FSB as a machine learning software could manage to work with renko charts that would be awesome!
hoping to see it somewhere in 2016.
Back in the day I worked with range and renko bars in FSB extensively. I even had trading sessions for some time with FST. I dig up some old renko file, even though it is not particularly well built, it stills proves my point that Pro can work with this. Please don't be offended what I'm going to say, take it as a more hard-lined motivation speech: every person with a firing braincell or two and with a strong will to use it/them can start experimenting with custom timeframes. It won't happen at the flick of a switch, some troubleshooting will be needed, a few workarounds, but I believe it is still possible like my experience was back in the day.
Dear Footon
1> I think to create Renko charts for the past is not a reliable procedure.
What do you think on that?
As we know, we have only OHLC prices for different TFs in MT4.
Then why to trust parameters received by EAs used to fit Renko data made by past OHLC prices?
2> What is the best way to select the Size of Renko bars per TF?
a) I could prefer to have a script to filter "RAW" data in MT4 TFs (I mean OHLC prices) and then apply to received data, indicators in FSB pro against Renko Charts
b) It could be nice to have an indicator to memorize such kind of filter data in FSB Pro TFs and apply to these data FSB indicators i.e.by creating an indirect FSB Pro data file (with new OHLC prices) from initial FSB Pro Data file. This is a more reliable situation but it needs time to be programmed by M.P. (plus new graphs) and also it needs special way of writing the script in Cs at special Directory etc. I am not sure if MP will decide to do it.
For the moment FSB pro permits to use such files made by special scripts in MT4 data at different TFs!
Just my oppinion
The thing is, if you want to backtest or use renko to build an EA, it is going to be done only in one way on my opinion and it is by using NON-GAP Renko bars form,
that way MT4 recognize the OHLC prices and the backtest can be up to 99.90% accurate.
this is how it looks like, and it would be much easier to implement into FSB by Mr. Popov on my opinion then the regular Renko bars form
1. Certainly, given the nature of underlying data there can be reliability problems that the formed renko chart is not very well corresponding to the actual data, but in this case we can use the bar interpolation concept from FSB, for instance. Secondly, the are more variables to be noted, like ATR and its "reacting" speed, which underline the need for properly assessing the bar/brick size. Thirdly, aforementioned problems are present in "standard" chart trading as well, essentially this is boiling down to the quality of backtest and brokerage service.
2. ATR is one thing to look out for when determing the size, I don't have a clear procedure for that, it is more trial/error and dependent on what I'm trying to achieve conceptually.
I don't understand you - do you say Pro is accepting the custom data files or not? In the post above I have a screenshot from using custom renko chart, it is possible!
Dear Footon
1> I think to create Renko charts for the past is not a reliable procedure.
What do you think on that?As we know, we have only OHLC prices for different TFs in MT4.
Then why to trust parameters received by EAs used to fit Renko data made by past OHLC prices?2> What is the best way to select the Size of Renko bars per TF?
a) I could prefer to have a script to filter "RAW" data in MT4 TFs (I mean OHLC prices) and then apply to received data, indicators in FSB pro against Renko Charts
b) It could be nice to have an indicator to memorize such kind of filter data in FSB Pro TFs and apply to these data FSB indicators i.e.by creating an indirect FSB Pro data file (with new OHLC prices) from initial FSB Pro Data file. This is a more reliable situation but it needs time to be programmed by M.P. (plus new graphs) and also it needs special way of writing the script in Cs at special Directory etc. I am not sure if MP will decide to do it.
For the moment FSB pro permits to use such files made by special scripts in MT4 data at different TFs!
Just my oppinion
Dear Footon
I will explain it more
As you know we have O,H, L, C prices and as you agree with Renko things need some human personal action (it means you use parameters according your own decision, which it is not sure they are the best)
1) In MT4 we can have a script which can produce Renko charts which can be used in FSB PRO in data made by different TFs of MT4. So for each time frame to have different Renko charts.
Suppose something like "Renko EURUSD 10pips M1.CSV", "Renko EURUSD 10pips M5.CSV" etc.
Am I correct?
2) I was thinking 2 other possibilities
a) to have scripts to create Renko inside FSB i.e by creating a second file from FSB pro, from data already inside FSB pro.
b) the possibility to create for different TFs (in MT4 it is possible but not available) or use the previous way (in FSB Pro) special filters to decrease i.e. noise in O H L C curve prices or other things suggested by Mr Popov and others.
I do not believe in Renko but others like it, so even that it can be a possibility.
This suggestion needs a lot of job by Mr. Popov which I am not sure he likes to do as it will take time.
For those who do not believe in renko, lets put it that way..,
if you have a strategy based on renko charts and as we all know the bars stays the same size unlike standard charts..,
imagine you build a strategy that have no SL based in pips but rather based on some kind of indicator, same for TP, TS, BE...,
now tell me if thats gonna break somehow at the upcoming future?, yeah thats what i thought..
the bars at the charts are FIXED and not random like m1,m5,m15,m30,h1,h4,d1,w1 etc....,
so.... an algorithm based on those conditions and renko bars would have greater robustness then standard charts..
for those who understand what im trying to explain here, and understand in algo trading, im sure you dig it .
so please Mr. Popov if that would be implemented new opportunities would come with it, thanks.
Forex Software → Forex Strategy Builder Professional → Renko Charts
Powered by PunBB, supported by Informer Technologies, Inc.