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I am clueless about how to build a strategy. Tried many times but the result is the same. Need your kind help creating one simple strategy which is: Enter SHORT as soon as 3rd consecutive Renko brick appears below 21 EMA. Enter LONG when the 3rd consecutive Renko brick appears above 21 EMA.
Appreciate any help.
Kiril
Can you help answer these questions from other members on NexusFi?
Try building a simple long and figure how it works, it can able to use a Close above your indicatora nd use a n bars indicator to tell when you have a up trend where there was pass down trend.
I do the strategies by code. I'll take a stab at this and report back. I was working on a trend reversal renko strategy awhile back I was wanting to checkout again that I believe does better in volatile markets...hence the past two days I'm interested in checking back into this
Probably won't be until later this weekend that I get a chance to look at this, stay tuned!
I too have tried many times. It depends where you plan to put your stop after 3 consecutive Renko bricks. Just because there is a high sell imbalance doesn't mean it's going to continue in short. If we are in a trading range then it may reverse back up. This is why I am not a fan of writing a simple program. There are too many variables to take into consideration.
I was assuming the strategy always had a position either long or short depending on which way the trend was going. In a sideways market this could be dangerous. That's why I like to use the market replay on all different types of days to see how things work in reality. I agree there are many variables and there is no holy grail and folks spend a lifetime searching for it.
Regardless, I'll give this a shot and we'll see what it yields. The exit can be made configurable by signal or a set profit target.
Well, it depends what you are trading. The strategy will work better for certain instruments, such as gold, oil, treasuries, nasdaq, etc. In my experience, there is no all in 1 strategy that works for everything.
Thank you so much. I got it done by paid services and it isn't profitable but I will appreciate all the inputs from you and the others who would like to give it a go. Let see if we all tweak it so it becomes profitable.
I have the code for the Renko strategy. I downloaded an indicator that gives buy or sell signals based on a MA crossover. How difficult is it to change the code from the first strategy to enter the signals from the new indicator? I can send you the strategy code if you like.
You can PM me and I can take a stab. Was going to toy with Renko & RSI next. I was testing a renko sniping method based on rapidly closed renko bars being closed (e.g. 250 ms between bars) and triggering a quick order in the same direction to scalp a few ticks...it has mixed results from some initial market replay testing.
