Hi, is there a way to create a signal/strategy that consists in:
1. buy when the second green (bullish) brick/box appears in a renko chart
2. sell/sell short when the second red (bearish) brick/box appears
I've been searching around the forum to see if its already been posted but just couldn't find anything.
anyway, any help will be appreciated.
thanks
Renko code
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Re: Renko code
This should be easy, but bricks appearing is not clear to me.
Better is maybe "has appeared", so you are sure there are two red bricks, so when the third brick appears after two red ones go short ? ( this means the two red one will stay on your chart)
Erik
Better is maybe "has appeared", so you are sure there are two red bricks, so when the third brick appears after two red ones go short ? ( this means the two red one will stay on your chart)
Erik
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- Posts: 74
- Joined: 25 Aug 2007
- Been thanked: 6 times
Re: Renko code
This does it.
Tested on the dax for 7 days in backtesting mode, with profit and stop to 200, profit 23000. See report (boxsize =2)
But i have tried this one a long time real time. it is difficult to make system on renko, because the real prices are spiking an dipping witin a bar depending on a box size.
Inputs: xProfit(200),xStoploss(200);
setprofittarget(xProfit);
setstoploss(XStoploss);
if marketposition=0 then
begin
if close < open and close [1] < open [1] then
sellshort ("SE") this bar close;
if close > open and close [1] > open [1] then
buy ("LE") this bar close;
end;
Tested on the dax for 7 days in backtesting mode, with profit and stop to 200, profit 23000. See report (boxsize =2)
But i have tried this one a long time real time. it is difficult to make system on renko, because the real prices are spiking an dipping witin a bar depending on a box size.
Inputs: xProfit(200),xStoploss(200);
setprofittarget(xProfit);
setstoploss(XStoploss);
if marketposition=0 then
begin
if close < open and close [1] < open [1] then
sellshort ("SE") this bar close;
if close > open and close [1] > open [1] then
buy ("LE") this bar close;
end;
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Re: Renko code
For testing purposes, take out the Profit Target and Stop Loss code all together. It will create false results unless done perfectly.
To buy on a green renko and sell on a red renko:
To buy on a green renko and sell on a red renko:
Code: Select all
If C=H then buy this bar ;
if C=L then sellshort this bar ;