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Setup: 2 Tick Renko with Donchian set at 21. I remove the Don Upper/Lower since I don't use them to find entry.
Entry: once the bars cross the Donchian Mean line, I look for it to pass through and close 8 ticks. Once this happens, I place an entry order 1 tick above the Mean line and modify the order along the Mean line until the trend retraces back and fills the order.
The purpose of this scalping system is to catch those short runners that move 5-8 points, which happens a few times each morning. Typically, I'll catch one before the morning session is over and call it a day. I do use some discretion when I come into Support and Resistance lines and manually tighten my stop or close out my profit to insure I don't get stopped out on an obvious retrace on my second contract. My pain threshold is about -$300. If I get close to this, I call it a day. If a runner looks to be consolidating, I take my profits and call it a day. I'm looking to take about $500 each day, which I will normally close any profitable trades once my daily profit gets close. If the runner looks strong and there isn't any S/R, I'll let it run it's course. Based on the results, it seems to be working!
Take a look at this to make sure I've interpreted your rules properly. Import the strategy. Then put it on a chart and enable it. It only displays the Long entries so far. You will see a white arrow marking the entries. I will proceed with the short entries and other capabilities after you approve what I've done so far.
I added it to my charts, but the arrows are off. Look at my results for today and notice how I took a short at 9:55 once it retraced back to the Dom line. The order is placed once the renko crosses short 8 tick close at 9:36
Here is what a typical day would look like if I was trading from market open till lunch hours. Your long entry signals look right. However, I obviously wouldn't take one of them since I was already in a trade. I went back and replayed today and took +50 ticks for today based on the below image. I missed the morning and stopped trading live as showed in my previous post.. but this is a normal day outlay.
Revised:
I wouldn't have taken the last winner since I would have already met my $500 mark for the day. I closed my last trade early instead of letting the ATM trail it, which would have cost me several points on the second contract ( if I let it run). Then again, I could have taken 2 more points if I just let it run... the discretion part.
After looking at your chart and reading your posts, I'm wondering why you want a strategy. You obviously apply discretion. A strategy will just get in your way.
Also, if I get the whole part on the renko bars correct, I think it is very unusual reasoning not to fix a bug on the basis that the unfixed version exhibits better results. Another point which MWinfrey stated in the last page that I absolutely agree with is that automated trading does not imply unattended trading.
