Automated Trading

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kinkeadfx
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Automated Trading

Postby kinkeadfx » 25 Apr 2014

I am looking into automated trading with renko charts.
What are the pros and cons of this type of trading?
My concerns are with the order entry and exits.
Does anybody have any success with automated trading with renko bars?

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MAtricks
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Re: Automated Trading

Postby MAtricks » 28 Apr 2014

They're reliable if you:

-Execute at the CLOSE of the bar with all orders
-No floating orders at all unless correctly measured
-1 tick basis only
-ensure that your tick data is reliable

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Andrew MultiCharts
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Re: Automated Trading

Postby Andrew MultiCharts » 28 Apr 2014

Hello kinkeadfx,

Some customers use Renko chart for auto-trading in MultiCharts. I strongly recommend you to read the following articles + test on demo account before going live:

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MAtricks
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Re: Automated Trading

Postby MAtricks » 02 May 2014

I got a PM about this.

Orders MUST be executed at the close of the block! Also make sure that this setting:

Image

Is set to 1 tick resolution. The platform does not calculate any other resolution in a reliable form.

-Resolution set to 1 tick
-Show wick doesn't show the whole wick
-Show real open shows the real open some of the time
-Show Phantom bars creates fake bars which fill in gaps

Do NOT start automation with renko bars unless you're at an advanced level of automated trading.. You'll waste tons of time chasing phantom equity curves while dealing with the platform flaws.
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kinkeadfx
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Re: Automated Trading

Postby kinkeadfx » 11 Jun 2014

Can you also help automated trading with renko charts by using renko bar indicator?
I have been seeing different post on other forums where other people have found different ways to overcome this problem.
Just wanting to post to see what anybody can share on this subject.

Thanks!

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MAtricks
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Re: Automated Trading

Postby MAtricks » 11 Jun 2014

Creating a reliable renko bar indicator is a very complex project and one that will calculate extremely slowly once built. Not fun...


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