Trade on Renko / Range / Equivolume charts (MT5 only)?
Let's improve CP to allow trade on Renko charts?
Here is article (only in Russian at the moment) — https://www.mql5.com/ru/articles/8226
I think, it might be interesting!
Duplicates 1
SourceTransformer
Replies 5
Good Idea, it would be helpful when in the setting the brick size of renko could be choosen. Depending on the used EA included indikator e.g. Trendindifier the renko reduce the fail breakouts.
Will be the renko implemented on the code of the EA? Or will be the EA attached to a renko chart and this chart will be generated by an external renko builder?
Supertrend on renko?! Nice!
btw, I just found this
https://github.com/9nix6/Median-and-Turbo-Renko-indicator-bundle
Hannes, thanks for your suggestions!
I merged your topic (SourceTransformer) into this one.
To make possible optimization of the type of the transformer, we need to rewrite the entire EA. It will not be easy to use (no visualization, no standard indicators on chart, etc.) and will be very hard to develop. It is not an option with MT, unfortunately...
All other ideas are real. We should make custom symbols (MT5) with history like Renko (or any other transform type) and run EA on it.
Hi all,
given the fact, that there a quite a few successful approaches using renko, heikin-ashi, directional-change approaches
I would like to suggest a SourceTransformer, which is working on the raw candles or raw ticker data. It outputs then also something like a candle data type and it's output is used by all other filter as if it were original candle item.
why?
- we could apply the same macd filter on renko or heikin ashi the same way.
- the change could have tremendous effect on the strategies
* renko combined with macd: https://protrader.org/blog/trading-with-turbo-renko-chart
* DC: https://en.wikipedia.org/wiki/Directional-change_intrinsic_time
- The type of the transformer (raw, renko, heikin-ashi, xyz) could be modified by the optimization process.