Renko Charts Trader

**lordorly** · 12-28-2009 11:09

Originally Posted by bulkbiz

Hello, I am using renko for the pass one year and have great success with it. Mind to share an EA based on this:

1)every new block/bar=125pips(point)
2)change to opposite color when there are 250pips(point) moving opposite.
3)Using daily chart only.
4)I will determine the lot size by myself.

Example:

I buy EUR/USD@ 14000, price move to 14125, one blue bar appear, price move to 14250, another blue bar appear, now price move back to 14000, red bar appear, close my existing buy position and sell it instead. Same goes for opposite direction.

No need SL or TP. SL is basically the 250pips moving opposite.

Hello,

4 digits or 5 digits?

renko use the indicator of post # 1?

Regards
Lordorly

**bulkbiz** · 12-29-2009 01:35

Originally Posted by lordorly

Hello,

4 digits or 5 digits?

renko use the indicator of post # 1?

Regards
Lordorly

Hello,

use 4 digits

use the renko indicator from here: Renko Charts - MQL4 Code Base

Thanks a lot ya

**dados77** · 01-05-2010 23:08

Originally Posted by bulkbiz

Hello, I am using renko for the pass one year and have great success with it. Mind to share an EA based on this:

1)every new block/bar=125pips(point)
2)change to opposite color when there are 250pips(point) moving opposite.
3)Using daily chart only.
4)I will determine the lot size by myself.

Example:

I buy EUR/USD@ 14000, price move to 14125, one blue bar appear, price move to 14250, another blue bar appear, now price move back to 14000, red bar appear, close my existing buy position and sell it instead. Same goes for opposite direction.

No need SL or TP. SL is basically the 250pips moving opposite.

What's 125 pips waiting for new bars ??
Do u know that u waiting 1 or even 2 days for new bars before open an order and other 1 or 2 days or maybe more to close the position ?
I wonder how u can keep in gain for all this time .
i like renko system but for me i prefer intraday trading.

David.

**bulkbiz** · 01-06-2010 12:39

Originally Posted by dados77

What's 125 pips waiting for new bars ??
Do u know that u waiting 1 or even 2 days for new bars before open an order and other 1 or 2 days or maybe more to close the position ?
I wonder how u can keep in gain for all this time .
i like renko system but for me i prefer intraday trading.

David.

Hi David,

Yes 125pips.

My current open trades:

short usd/cad@10551 ----------------floating +173pips
short gbp/usd@16584 ----------------floating +610pips
short eur/aud@16214----------------- floating +520pips
long usd/chf@10277------------------- floating +53pips
short gbp/chf@16586 ------------------floating +74pips
long eur/jpy@13281 --------------------floating -18pips

total floating pips = +1412pips

I am a position trader, and this method can give me ROI of > 50% per year depends on how trending is the market.

**knighton** · 01-22-2010 08:45

HI, I am exploring renko chart trading can you let me know where I can down load the renko indicator. I have one from forexroma which the setting is prong 40. Do I have to change as I see some time it goes the opp way . I like the way you trade which is long term and I want to do day trading so hope you can be my mentor. thanks alot

**zoop** · 01-25-2010 15:25

Originally Posted by knighton

HI, I am exploring renko chart trading can you let me know where I can down load the renko indicator. I have one from forexroma which the setting is prong 40. Do I have to change as I see some time it goes the opp way . I like the way you trade which is long term and I want to do day trading so hope you can be my mentor. thanks alot

indicator is in first post

**zoop** · 01-25-2010 15:27

hi funyoo, would it be possible to add ECN and 5 digit mode on this so takeprofit and stoploss work properly

much much thanks

**knighton** · 01-28-2010 01:20

thanks zoop .

**knighton** · 02-09-2010 18:28

do you enter you trade at 8 am whren the candle change colour or at about 3.45pm . I have observe that the renko block st times change colour in the afternoon. so I am confuse . can any one give me a link on how to trade using renko