MeanRenko

User avatar
traderduke
Trader
Posts: 306
Joined: Mon Nov 28, 2011 7:30 pm
Location: East Coast USA

MeanRenko

Post by traderduke »

Traders, I tried regular renko and found the ranging could kill an account rather fast, then I came across "meanrenko(MR)". Its cleaner and provides longer runs of the trend, even short ones. The Keltner channel can be adjusted to operate on the first reversal candle or more depending on the settings. I am not a programmer but I can copy & paste so check out the pasted KC EA. I can't backtest this MR so thats where you guys come in.

The meanrenko EA steps are;
1. open a 1m chart any currency with some data(home, home & so on)
2. load the meanrenko EA onto the chart ; chose the size of renko brick and the non standard chart number i.e. 2-3-4-6-7-8 etc.
3. "Open Offline chart for the above selection.
4. Load KC EA onto #3 chart selection.
5. load the Indicator onto the same chart for visual clarity.

I believe that MPTM can help this strategy but IT seems to exit on it own?? I have a Renko script that allows for backtesting regular renko but I don't know how to copy & paste that MC animal onto it.
My KC EA is crappy compared to this forums EA's, any improvements would be appreciated! I seem to generate MANY errors.

See the attached chart and let the games begin.
I only just started this EA yesterday at 13:00 EST closed 7 orders 3winners, 4 lossers up +14 but +226 on line SEE Chart. I believe good MM would help a lot. Load MC & KC EA into the experts folder & the kc indicator into the indicator folder.

Ray
You do not have the required permissions to view the files attached to this post.
trader689
Trader
Posts: 644
Joined: Thu Nov 17, 2011 12:53 am

Re: MeanRenko

Post by trader689 »

nice results, traderduke, do you have settings for the size of the renko brick you use, also any other settings? thanks
OldTrader
Trader
Posts: 71
Joined: Wed Nov 16, 2011 10:19 pm

Re: MeanRenko

Post by OldTrader »

i see 'renko pips = 20' on his charts, possibly this is his brick size?

Looks like quite a few of those pairs would have chewed you up pretty badly had you taken all of the past trades shown on the charts? Unless I am missing a key ingredient (which is likely). You caught the nice runs right now, but how badly would the chop previously have hurt?
User avatar
traderduke
Trader
Posts: 306
Joined: Mon Nov 28, 2011 7:30 pm
Location: East Coast USA

Re: MeanRenko

Post by traderduke »

OldTrader,
Your correct about the reversals or head fakes, that is what I experienced with the regular renko. today is day3 of my testing "meanrenko" and it looks great but the time is of course too short for a real analogy. I believe the :meanrenko" will allow for a more consistent number of bricks. We just need the magical number between the size and the KC.

I will attach the indicator I use to determine the brick size, it should be self explainitory. ye right! It makes a difference! Then you can set the KC to ignore 1 or 2 brick reversals.

The options are vast which is why I asked for help. yes the brick is 20 pips. The ea is OOTB.

I changed the exit option to CLOSE instead of trend and it seems to work better " lines 208 & 219. It protects your profit but gets you out during ranging which is both good and bad.

test the 208 // them in and out.
if ( ExitMode ==0 && (OrderType()==OP_BUY) && //208
// trend1 == -1
Close[1] < upper && Close[0] < middle

Ray
OldTrader wrote:i see 'renko pips = 20' on his charts, possibly this is his brick size? Looks like quite a few of those pairs would have chewed you up pretty badly had you taken all of the past trades shown on the charts? Unless I am missing a key ingredient (which is likely). You caught the nice runs right now, but how badly would the chop previously have hurt?
You do not have the required permissions to view the files attached to this post.
gt2525
Trader
Posts: 11
Joined: Wed Jan 23, 2013 9:49 pm

Re: MeanRenko

Post by gt2525 »

Is anyone still exploring with mean renko? I wanted to start a new thread or possibly build this into a more active one...
User avatar
traderduke
Trader
Posts: 306
Joined: Mon Nov 28, 2011 7:30 pm
Location: East Coast USA

Re: MeanRenko

Post by traderduke »

gt I'm still useing Meanrenko. OLDTRADER is correct, Breaking even is the best I can do at this time. I'm in search of a "flat indicator" to offset the reversals. The MeanRenko gives off a much better signal then regular renko! Renko doesn't seem to be of interest in this forum.
ewazzu
Posts: 1
Joined: Fri Apr 12, 2013 8:27 am

Re: MeanRenko

Post by ewazzu »

I'm up for this if anyone else is interested... Renko seems a decent system, just needs a little tweaking
User avatar
Freedom787
Trader
Posts: 30
Joined: Wed Mar 13, 2013 3:46 pm
Location: United States

Re: MeanRenko

Post by Freedom787 »

Just started testing it to see what it's doing.
nald50
Posts: 5
Joined: Sat Dec 17, 2011 10:36 am
Location: Melbourne.Australia

Re: MeanRenko

Post by nald50 »

Hi,
I interested if there are any updates re Mean Renko .I have been using Renko for a long time and have just changed over to Mean Renko to trial.
viclun2
Posts: 6
Joined: Mon Jul 29, 2013 9:21 pm
Location: Sweden

Re: MeanRenko

Post by viclun2 »

Thanks for the meanrenko, much appreciated, anyone using/testing?
Post Reply

Return to “Automated trading systems”