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Curious as to whether anyone has been able to code a profitable trading bot specifically for CL or MCL futures? I have been working to accomplish this, and wanted to see if anyone else had a successful bot they were willing to share. Appreciate it!
Can you help answer these questions from other members on NexusFi?
Your Renko bars have very impressive numbers......when ever you use a renko type bar...you have to specify the entry is taken at the high of the bar(with a long and the low of the bar if Short)...not a standard entry....as you look at your chart all your entries are at the low end of the bar(on your longs and the high of the bar with your shorts) which gives you a false entry...the price may never be there...if you use Renko...and if you take the high of the bar not the Low....and you get completely different numbers ...NT does the same thing and if you are using Strategy Analyzer...you have to specify High rather than Standard Calculations....when using Renko...you may be using Multicharts but i see the same Error as with NT....Love your numbers...but don't quit your day job yet.........What you also need to know is that renko fills in bars that do not exist...where the price actually was and where it shows you could be two different things...here is an example
Thanks for that observation. So it appears I must change the market order to a stop order at the high of the wick or the high of the brick for longs ? Multicharts tech support says I need to get the signal from the Renko chart but place the order from a normal candlestick chart.
More realtime forward testing needed here for sure.
The issue is: how often does this occur ? I have to admit that "Phantom Bars" have stimied me....I'd like to know the logic of how they are formed.
So Ninja has a "BackTestMode" directive ? How does it work exactly ?
the Renko type bar just fills them in....when the price jumps two or more ticks the renko software create the phantom bar to get to the price and creates a nice and smooth set of bars as in the example I included...the Backtest ON actually show exact price movement and Backtest Off shows standard Renko bars..there are Renko bars out there that show exact price...these are from Shark Indicators....Backtest Bars...the other problem you have to over come is getting in at the correct entry.....if you use NT you can specify High rather that Standard Calculations...will give you a more true result....but it will still be incorrect when you go live....best test is go into Sim and Run it and see what you get....another thing you could do is change you bar size to 2....that way you will only be off by 1....or I used to make my slippage the size of the bar....if you have a slippage entry...with renko on a long...the entry should always be at the top of the bar and the exit at the top of the bar
Thanks much loan....you are much more knowledgeable than Multicharts tech support regarding renko bars. They act as if they are like voodoo......LOL !
Everything regarding renko has been trial-and-error for me. MC Tech support could not tell me why their regular Renko bars resulted in DRASTIC differences between backtest performance and realtime performance. However, their newer Flex Renko bars produced decent comparable results. The differences in the order execution was often related to their built-in stops.....SETTRAILING...., etc. These operate INTRABAR whereas my market orders execute END-OF-BAR.
Well, MC has a renko setting called "resolution". Perhaps I need to experiment with that. However, I think the most important setting is brick size, no ?
BTW: I'd love to know the difference between regular Renko bars, Flex Renko bars, and Uni-Renko bars.
This is the best explanation of Renko bars I could find: https://www.investopedia.com/terms/r/renkochart.asp.
