NexusFi: Find Your Edge


Home Menu

 





Programmer needed for Renko Chart strategy


Discussion in Sierra Chart

Updated
      Top Posters
    1. looks_one ashtheace with 4 posts (0 thanks)
    2. looks_two cory with 2 posts (1 thanks)
    3. looks_3 ThatManFromTexas with 1 posts (0 thanks)
    4. looks_4 Bimi with 1 posts (0 thanks)
    1. trending_up 6,015 views
    2. thumb_up 1 thanks given
    3. group 7 followers
    1. forum 10 posts
    2. attach_file 0 attachments




 
Search this Thread

Programmer needed for Renko Chart strategy

  #1 (permalink)
 ashtheace 
San francisco, CA
 
Experience: Beginner
Platform: NT
Trading: ES
Posts: 4 since Dec 2011
Thanks Given: 1
Thanks Received: 0

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?

Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Better Renko Gaps
The Elite Circle
NexusFi Journal Challenge - April 2024
Feedback and Announcements
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
Online prop firm The Funded Trader (TFT) going under?
Traders Hideout
 
  #3 (permalink)
 
Fat Tails's Avatar
 Fat Tails 
Berlin, Europe
Market Wizard
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,102



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?

Reply With Quote
  #4 (permalink)
 
cory's Avatar
 cory 
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
Posts: 6,098 since Jun 2009
Thanks Given: 877
Thanks Received: 8,090

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

Reply With Quote
Thanked by:
  #5 (permalink)
 ashtheace 
San francisco, CA
 
Experience: Beginner
Platform: NT
Trading: ES
Posts: 4 since Dec 2011
Thanks Given: 1
Thanks Received: 0

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?

Started this thread Reply With Quote
  #6 (permalink)
 
cory's Avatar
 cory 
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
Posts: 6,098 since Jun 2009
Thanks Given: 877
Thanks Received: 8,090


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.

Reply With Quote
  #7 (permalink)
Bimi
London
 
Posts: 118 since Mar 2010
Thanks Given: 42
Thanks Received: 58


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.

Reply With Quote
  #8 (permalink)
 ashtheace 
San francisco, CA
 
Experience: Beginner
Platform: NT
Trading: ES
Posts: 4 since Dec 2011
Thanks Given: 1
Thanks Received: 0

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...

Started this thread Reply With Quote
  #9 (permalink)
 
ThatManFromTexas's Avatar
 ThatManFromTexas 
Houston,Tx
 
Experience: Advanced
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: TF
Posts: 2,265 since Feb 2010
Thanks Given: 1,206
Thanks Received: 4,348


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!"
Reply With Quote
  #10 (permalink)
 ashtheace 
San francisco, CA
 
Experience: Beginner
Platform: NT
Trading: ES
Posts: 4 since Dec 2011
Thanks Given: 1
Thanks Received: 0


No Sierra Chart coders around who have any experience with Renko Charts??

Started this thread Reply With Quote




Last Updated on July 4, 2012


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts