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Programmer needed for Renko Chart strategy
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Programmer needed for Renko Chart strategy

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Programmer needed for Renko Chart strategy

Hi,

I have a renko chart strategy that I would like to be automated. I have tried a couple of resources pointed on the Sierra Chart website but both had trouble implementing it. Basically, I count a certain number of renko bars to indicate a trend reversal and then use a certain number of reversal bars to exit the trade. Also, at all times I monitor the total volume and perform an exit if the volume goes below a certain threshold. Are there any programmers who could code this for me in ASCIL?

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  #3 (permalink)
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ashtheace View Post
Hi,

I have a renko chart strategy that I would like to be automated. I have tried a couple of resources pointed on the Sierra Chart website but both had trouble implementing it. Basically, I count a certain number of renko bars to indicate a trend reversal and then use a certain number of reversal bars to exit the trade. Also, at all times I monitor the total volume and perform an exit if the volume goes below a certain threshold. Are there any programmers who could code this for me in ASCIL?

Being a beginner and trying to implement an automated Renko strategy sounds to me like financial suicide. It is already difficult to make it work on a simulation account, but if you trade it with real money, it will deplete your account faster than you can watch. No wonder that the guys had difficulties implementing it. I strongly advise against it.

That said Renko strategies may work under certain conditions, but wouldn't it be better to get some training first?

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Market Wizard
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the moral of strategy using renko is don't believe in what you see.

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  #5 (permalink)
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Cory,

Would you care to elaborate? I have seen a few renko charts and I understand what the chart means, but perhaps you can share the experience that caused you to exercise caution while observing renko charts?

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ashtheace View Post
Cory,

Would you care to elaborate? I have seen a few renko charts and I understand what the chart means, but perhaps you can share the experience that caused you to exercise caution while observing renko charts?

Observing renko charts is fine as matter of fact I maintain a set of renko charts myself. But you can't translate what you see into computer executable strategy. Plenty of thread about others tried backtesting renko and found out it didn't work.

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ashtheace View Post
Hi,

I have a renko chart strategy that I would like to be automated. I have tried a couple of resources pointed on the Sierra Chart website but both had trouble implementing it. Basically, I count a certain number of renko bars to indicate a trend reversal and then use a certain number of reversal bars to exit the trade. Also, at all times I monitor the total volume and perform an exit if the volume goes below a certain threshold. Are there any programmers who could code this for me in ASCIL?

renko is drawn in hindsight.

you won't know when does a bar end until a new one is started.

if you refresh your data during the day, all your bars would look different from real time bars.

it would be impossible to back test your strategy.

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Bimi/others:

I wrote some code to backtest my strategy and apart from some glitches, the code works and I see results. Despite all my efforts I can't seem to remove these random glitches, which is why I am looking for a professional opinion...

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Bimi View Post
renko is drawn in hindsight.

you won't know when does a bar end until a new one is started.

if you refresh your data during the day, all your bars would look different from real time bars.

it would be impossible to back test your strategy.

@Bimi

I keep hearing what you posted. If you are correct, and I have no reason to think otherwise since I don't use Renko bars... how can anyone trade with them? You can't go back and make determinations about trades you took if the bars change after the trade.

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #10 (permalink)
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No Sierra Chart coders around who have any experience with Renko Charts??

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