Thread: Renko EA

Originally Posted by funyoo

Hi candrick,

Yes, you will find this script in the mql programming section (Max trade per bar).

Hello Funyoo,

Thank you for your prompt replies. But I was unable to add this part to the code:

Originally Posted by funyoo

Before each OrderSend function :

Code:

if(Time0!=Time[0]){

After each OrderSend function :

Code:

Time0=Time[0];if(ticket>0)TradePerBar++;

Don't forget the } at the end.

if it should be something like that, metaeditor gives a "ticket - variable not defined" error.

//open position
if((AddP()&&AddPositions&&OP<=MaxOrders)||(OP==0&& !AddPositions)){
if(OS==1){if(TP==0)TPI=0;else TPI=Bid-TP*Point;if(SL==0)SLI=0;else SLI=Bid+SL*Point;
if(Time0!=Time[0]){
TK=OrderSend(Symbol(),OP_SELL,Lots,Bid,Slip,SLI,TP I,EAName,Magic,0,Red);OS=0;return(0);}
Time0=Time[0];if(ticket>0)TradePerBar++;
}

Can you help to correct this? Thx...

OK, corrected this error. But now EA does not seem to be reversing the action. For example, when the trend reverses it does not change the trade from buy to sell or vice versa. I got confused...

Originally Posted by funyoo

Here is the Renko v1 Expert Advisor.

Hi funyoo,

I backtested last few weeks in 5-pips renko charts and the results were promising. All of the backtests ended without deficit. But, when I was forward testing the EAv1, I encountered a problem. The EA was too slow to close an order and open a new one when the price was moving a little fast. For that reason, some trades ended with little profit or no profit at all.

In order to overcome this, I think the EA should place pending orders for both closing the open order (like SL or trailing step stop) and opening a new one. The logic might be something like that: EA opens a trade at the beginning and places two pending orders, one as the stop loss for closing the current order. The price should be the opening price of the previous candle. And another order for the new trade at the same level. Surely, spread should be taken into consideration. As the graphics are drawn according to the bid price, short orders should not be placed before the current candle closes and a new one forms. With a formula the spread may be calculated and added to bid price, and keeping in mind that it may take a long time to form a candle in renko charts, this formula may check the spread periodically, i.e. every half an hour, an hour, or so. And, the pending orders should be moved after a new bar is formed.

If you have any ideas about that I would be pleased to contribute as much as I can. This method may not be the holy grail, but surely a profitable one in my opinion.

P.S.: Adding one trade per bar will surely improve the profitability, however I was unable to add the required parameters to the code. I just don't understand the coding part unfortunately...