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  #21 (permalink)  
Old 08-17-2008, 01:31 AM
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Quote:
Originally Posted by fxadvisory View Post
Hi Rick,

You would buy/sell when the first color change would occur. At least that is how I do it. The previous position is closed when the new position is opened.

happy trading.
Thanks for your answer.
When I look at a chart with this...Do the bricks underneath the price line up wih the price on the chart?

I have this on a 1 min. chart and i see different color changes under the price but not enough movement to warrant those changes
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  #22 (permalink)  
Old 08-17-2008, 11:05 PM
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Renko Indicator and Chart are not linked vertically

Hi Rick,

The indicator is completely independent of the horizontal time axis of the chart. Therefore, you will not see any vertical correlation at all between the 1 min chart and the Renko indicator. If you are using a 75 pip box and you can catch a 75 pip move within your screen view, you should see a new Renko Box appear.
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  #23 (permalink)  
Old 08-17-2008, 11:09 PM
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Optimal Renko Box Size

I use about 70% of the Average Daily range. I have chosen a fixed 75 pips based on visual comparisons with various box sizes. I also focus on EURUSD because of the low spread offerings and decent volatility.
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  #24 (permalink)  
Old 10-04-2008, 02:48 PM
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Renko on chart

Is thier any renko that shows on chart and not indicator window



Quote:
Originally Posted by MrM View Post
Hi,

has anyone ever tried to make renko charts (candles that are based on number of pips in one direction: candles close after e.g. 20 pips up or down, and don't close after a certain period of time e.g. 15min)? I have found a custom indicator that displays a renko indicator at the bottom of the chart, but I need the actual candles in my chart to be "renko candles".

thx
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  #25 (permalink)  
Old 10-07-2008, 11:31 PM
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I use Renko charts on another platform, it is great tool.
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  #26 (permalink)  
Old 10-07-2008, 11:49 PM
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Quote:
Originally Posted by Kenny Rogers View Post
I use Renko charts on another platform, it is great tool.
How do you trade using that renko Kenny?
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  #27 (permalink)  
Old 08-20-2009, 01:53 AM
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Can anyone advise on how to reference this using iCustom

I get this error written to the journal
RENKO_2 EURUSD,H1: unknown subwindow number -1 for ObjectCreate function

I'm using this as the reference
iCustom(NULL, 0, "RENKO_2",20,1,1);
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  #28 (permalink)  
Old 08-21-2009, 01:37 AM
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That looks more like an error with the Renko indicator. Try just putting that on a chart and look at the log. I'm guessing you'll see the same error.

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  #29 (permalink)  
Old 08-21-2009, 06:42 AM
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Renko scripts

Was kinda messing around with C5 scalping from another forum and found these Renko scripts there, seem to work pretty well but seems have to refresh the chart once awhile, to use put it on any timeframe chart on the top of chart it will tell you which off line chart to open so open that chart and use whatever template or indi's you desire.
Attached Images
File Type: gif renko.gif (40.1 KB, 523 views)
Attached Files
File Type: mq4 renko_live_scr.mq4 (7.3 KB, 240 views)
File Type: mq4 RenkoLiveChart.mq4 (6.2 KB, 239 views)
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  #30 (permalink)  
Old 08-23-2009, 01:27 PM
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or do your own

See my post with binary tick writer. You could prob use this or modify it to create tick based range/renko etc bars for mt4. I use it for this purpose but I am not using mt4 as MB do not have a reliable version running yet. I poll the files every 1/2 sec to create my bars and it all works fine. So you are halfway there. Write a poller and create your own barfile that is as close to perfect as you can be. Run your indicators over that lot and see what you get. My advice is to keep it very simple and just use good money management. I let my bars have gaps. Do not fill them in with data that never happened. This is not just my opinion I have tested this on large amounts of futures tick data. I also run two of these EAs, renamed of course, to split the task of writing the data over two threads, five files for each one. I do not think much of the script based alternatives as they are using one minute data to build the bars on startup.
Cheers
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