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?
Automated Trading
- Andrew MultiCharts
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Re: Automated Trading
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:
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:
Re: Automated Trading
I got a PM about this.
Orders MUST be executed at the close of the block! Also make sure that this setting:
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.
Orders MUST be executed at the close of the block! Also make sure that this setting:
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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Re: Automated Trading
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!
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!