Backtesting on Renko Charts

July 30th, 2011, 04:06 AM

Jura

Is it correct that this strategy generates roughly one trade per day in EUR/USD?

I get approximately 6 to 10 trades per day, I set the daily max profit target to 100 pips and Profit Target to 100 instead of the 20 defaults.

Cheers,

Daniel

July 30th, 2011, 10:20 AM

So I have made some progress with the Strategy, getting it converted in a very basic way to use a 5R on chart 1 and 5Renko on Chart 2.

Here are the entries identified on the original strategy:

whilst here is the same period using the revised strategy:

As you can see, I have included both data series on the one chart, which helps me identify how price moves against the Renko bars.

Entries are approximately the same, however I need to do some more on the exits...

August 2nd, 2011, 07:49 AM

For those interested in automated trading with MultiCharts, there will be a webinar this Thursday @ 4:30PM Eastern with a demonstration of how a hedge fund uses MultiCharts in their systematic trading approach.

Trading Webinars, Trading Videos - [AUTOLINK]Big Mike Trading[/AUTOLINK] Forum

Mike

December 23rd, 2011, 09:40 AM

diverdan

I get approximately 6 to 10 trades per day, I set the daily max profit target to 100 pips and Profit Target to 100 instead of the 20 defaults.

Cheers,

Daniel

Hi Daniel, I'm from Singapore too .. If you could help me with Multicharts as i'm trying to learn how to use it .. migrating from MT4 .. could you PM me your email address so that I can contact you personal if you are alright with it.

I can't PM you as i've just joined the forum.

Look forward to your reply. A Merry Christmas and Happy New Year to everyone!

October 29th, 2017, 11:54 AM

Big Mike

You can backtest with IOG.

The problem with Renko bars, on MultiCharts or NinjaTrader, is a design problem. The open of the bar is not "true" in relation to the prior bar close.

You can get around this problem by adding a second dataseries to your strategy. 'data1' is the execution dataseries, like a 1-range bar for example, and 'data2' is your renko series for generating signals.

Send orders to data1 for fills, and data2 is just for signal generation.

It is not too difficult to implement this in MultiCharts. Just be prepared that your magic money-making renko strategy will be less magical after a more accurate test

Mike

I read elsewhere that the recent versions of MC have corrected this. Is it true?

Sorry for bringing up such an old topic, but I want to develop a strategy based on Renko and I don't know if I should choose MC or NT for that.

Thank you.

October 29th, 2017, 06:12 PM

DudaoRJ: MC now has the "true" Open option for Renko bars AND now they include "Flex Renko bars", with many options to customize to taste. I haven't had time to do any system testing with them though, I'm a discretionary trader.
Try to get a free trial for both MC and NT and see which "feels" most natural for your trading-programming style.

Backtesting on Renko Charts

Discussion in MultiCharts

Backtesting on Renko Charts