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What are the best trading rules using Renkos
Started:December 30th, 2010 (07:17 PM) by JohnPS Views / Replies:2,294 / 14
Last Reply:December 31st, 2010 (10:16 PM) Attachments:0

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What are the best trading rules using Renkos

Old December 30th, 2010, 07:17 PM   #1 (permalink)
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Dewitt Mi
 
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What are the best trading rules using Renkos

What are the best trading rules using Renkos, including time of day, tick size, stop placement and what ever else.
Many Thanks


Last edited by JohnPS; December 30th, 2010 at 08:22 PM.
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Old December 30th, 2010, 07:17 PM   #2 (permalink)
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Old December 30th, 2010, 07:20 PM   #3 (permalink)
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Your question is very, very broad and is worded as if there is a quick and easy response. Can you be more specific? What are you really looking for?

Have you searched the forum for "Renko?

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Old December 30th, 2010, 07:43 PM   #4 (permalink)
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I did a ton of backtesting w/ RENKO a while back, but it is all flawed as Ninja doesn't work w/ RENKO properly on Auto Strat's and there is a bit about that just search for it if you could.

I have yet to see anyone have a profitable system using it. Seems like everyone right now is on Range bars.

I spent probably 6 months playing with it on MT4, NT7 and TS. Using that with SuperTrend was an interesting toy, but you get chewed up again upon a sideways market. Plus, you have to make sure you are seeing all the price like BetterRenko does vice just the default RENKO.

Sorry I can''t help more.

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Old December 30th, 2010, 07:49 PM   #5 (permalink)
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Answer
This post has been selected as an answer to the original posters question Answer

Renko and automated strategies are like drinking and driving.

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Old December 30th, 2010, 08:27 PM   #6 (permalink)
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Dewitt Mi
 
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bluemele View Post
I did a ton of backtesting w/ RENKO a while back, but it is all flawed as Ninja doesn't work w/ RENKO properly on Auto Strat's and there is a bit about that just search for it if you could.

I have yet to see anyone have a profitable system using it. Seems like everyone right now is on Range bars.

I spent probably 6 months playing with it on MT4, NT7 and TS. Using that with SuperTrend was an interesting toy, but you get chewed up again upon a sideways market. Plus, you have to make sure you are seeing all the price like BetterRenko does vice just the default RENKO.

Sorry I can''t help more.

What I have seen in this forum is that, yes, the Ninja Renko's are flawed. I have done some studying using MedianRenko and Aslans WickedRenko, so far The WickedRenko looks the best but the Median is good as well. I plan on NOT using the NT Renko's.

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Old December 30th, 2010, 08:36 PM   #7 (permalink)
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Dewitt Mi
 
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Tundi View Post
Your question is very, very broad and is worded as if there is a quick and easy response. Can you be more specific? What are you really looking for?

Have you searched the forum for "Renko?

Thank you,
Over simplified? Yes, you are right. I would like a simplified explanation, build on that and add nuances and refinements.
My big concern is stop placement.

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Old December 30th, 2010, 09:49 PM   #8 (permalink)
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JohnPS View Post
Thank you,
Over simplified? Yes, you are right. I would like a simplified explanation, build on that and add nuances and refinements.
My big concern is stop placement.

The simplified answer, as far as I'm concerned, is there is no edge in using Renko and I advise staying away from it. It is a grade C- indicator at best.

Place your stop at a point where you don't want to lose any more money.

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Old December 30th, 2010, 10:16 PM   #9 (permalink)
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I might suggests this thread:

https://www.bigmiketrading.com/traders-hideout/6819-ode-renko.html

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Old December 30th, 2010, 11:33 PM   #10 (permalink)
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Dewitt Mi
 
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MainStream, I like your style! And the connection to the better Renko thread. That will be my home work for the week end.
Thank you

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