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The best renko bar generators

  • #21
  • Dec 29, 2019 12:26am Dec 29, 2019 12:26am
Learning Renko. Thanks and
Regards
  • #22
  • Dec 31, 2019 2:31pm Dec 31, 2019 2:31pm
Dears

happy new year to all

I need a piece of advice, please
I have been using renko offline chart with ATR for renko size
but I have a problem that the chart does not update the size of the box based on ATR automatically and that I have to do it manually every while
is there a way to solve this? noting that I am using MetaTrader platform and renkolivecharts_pimped_v4_13

thank you all
  • #23
  • Jan 16, 2020 5:43am Jan 16, 2020 5:43am
Quoting Hutch
{quote} I have been trading Renko for over 10 years and I've never seen it repainting. The problem traders encounter is that if you close your MT4 at night and re-open it the next day there could be many Renko bricks missing depending on the Renko generator that you are using. This problem can easily be solved by refreshing the source chart. Since the Renko generator I use is an indicator all I have to do is to open the indicator, click edit then close it and all the missing Renko bricks will be shown correctly on the Renko chart.
Just randomly tweaking and checking to see levels of repainting. Mind you I'm using the Ovo generator but that itself still repaints.
Check out these 2 screenshots and be amazed at repainting.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: RENKO PATTERNS 37.png Size: 81 KB
Click to Enlarge Name: RENKO PATTERNS 38.png Size: 101 KB
Let it turn and find your entry.
  • #24
  • Jan 16, 2020 8:20am Jan 16, 2020 8:20am
Quoting Intrepidpips
{quote} Just randomly tweaking and checking to see levels of repainting. Mind you I'm using the Ovo generator but that itself still repaints. Check out these 2 screenshots and be amazed at repainting. {image} {image}
Not amazed at all many indicators repaint and there is nothing wrong with that unless the trader doesn't know how to deal with repainting issues. Renko bricks normally don't repaint unless they are in the process of being formed. I never used the Ovo generator but it looks like there is something wrong with it. I can only suggest that you send the two charts to the company and ask them what went wrong because this is totally abnormal.
  • #25
  • Jan 17, 2020 4:32am Jan 17, 2020 4:32am
Quoting Hutch
{quote} Not amazed at all many indicators repaint and there is nothing wrong with that unless the trader doesn't know how to deal with repainting issues. Renko bricks normally don't repaint unless they are in the process of being formed. I never used the Ovo generator but it looks like there is something wrong with it. I can only suggest that you send the two charts to the company and ask them what went wrong because this is totally abnormal.
So how does one deal with repainting Indies,when you have been triggered to go long and enter a long position only for the indicator to turn back several bars later when the market is bearish to erase the long signal and plot a short signal? How does that aid back testing and system development?
Let it turn and find your entry.
  • #26
  • Feb 28, 2020 12:25pm Feb 28, 2020 12:25pm
Quoting Intrepidpips
{quote} So how does one deal with repainting Indies,when you have been triggered to go long and enter a long position only for the indicator to turn back several bars later when the market is bearish to erase the long signal and plot a short signal? How does that aid back testing and system development?
I would suggest that the best way is to take the loss immediately instead of waiting since the loss could accentuate. Of course the trade could reverse in your favor but I never risk it. I have been trading forex since 2004 and I have seen loads of bad trades triggered by repainting indicators. Back testing will not help you because repainting can be random.
  • #27
  • Feb 29, 2020 3:33am Feb 29, 2020 3:33am
Quoting Mkoma155
This is the first renko bar generator in an ea version known as evolution renko it is a non repainting ea and it can generate four different forms of renko bars. Enjoy. {file}
please i downloaded and tried to install this EA it keeps repeating alert ............found gap, please do you have any udated version as this dont seem to work anylonger
  • #28
  • Feb 29, 2020 1:14pm Feb 29, 2020 1:14pm
Quoting Samalin
{quote} please i downloaded and tried to install this EA it keeps repeating alert ............found gap, please do you have any udated version as this dont seem to work anylonger
You might wish to try this indicator. It produces normal Renko, median Renko and geometric Renko charts. This indicator can also produce two Renko charts
Attached File(s)
File Type: ex4 ! MTH Renko Chart Builder Indi Ver 01.ex4   13 KB | 2,253 downloads
  • #29
  • Feb 29, 2020 1:36pm Feb 29, 2020 1:36pm
Quoting Hutch
{quote} You might wish to try this indicator. It produces normal Renko, median Renko and geometric Renko charts. This indicator can also produce two Renko charts {file}
thanks for sharing i will do that on Monday
  • #30
  • Feb 29, 2020 1:38pm Feb 29, 2020 1:38pm
Quoting Hutch
{quote} You might wish to try this indicator. It produces normal Renko, median Renko and geometric Renko charts. This indicator can also produce two Renko charts {file}
but please which of the Renko charts would you recommend with your years of experience?
  • #31
  • Edited 9:09pm Mar 1, 2020 8:52pm | Edited 9:09pm
Quoting Hutch
{quote} You might wish to try this indicator. It produces normal Renko, median Renko and geometric Renko charts. This indicator can also produce two Renko charts {file}
thanks a lot it works i appreciate your help
  • #32
  • Mar 2, 2020 3:42pm Mar 2, 2020 3:42pm
Quoting Samalin
{quote} but please which of the Renko charts would you recommend with your years of experience?
If you trade low ATR pairs you might try a geometric Renko chart shifted 10% because you can trade without any other indicator and low ATR pairs means low risks. You can also trade with high ATR pairs or CFDs but it's more dangerous. Actually I think that median Renko is best because indicators work better than with normal Renko. It's all a matter of appreciation and preferences.
  • #33
  • Mar 2, 2020 7:33pm Mar 2, 2020 7:33pm
Quoting Hutch
{quote} If you trade low ATR pairs you might try a geometric Renko chart shifted 10% because you can trade without any other indicator and low ATR pairs means low risks. You can also trade with high ATR pairs or CFDs but it's more dangerous. Actually I think that median Renko is best because indicators work better than with normal Renko. It's all a matter of appreciation and preferences.

thanks so much for your suggestion i prefer trading GBP pairs
  • #34
  • Mar 2, 2020 7:53pm Mar 2, 2020 7:53pm
Quoting Hutch
{quote} If you trade low ATR pairs you might try a geometric Renko chart shifted 10% because you can trade without any other indicator and low ATR pairs means low risks. You can also trade with high ATR pairs or CFDs but it's more dangerous. Actually I think that median Renko is best because indicators work better than with normal Renko. It's all a matter of appreciation and preferences.
Please am new on using Renko charts and i like it because i can remove noise from normal charts
i know there are 2 Renko Chart how can i set it to median when its not written as an option?

please i always appreciate your advise
  • #35
  • Mar 3, 2020 9:42am Mar 3, 2020 9:42am
Quoting Samalin
{quote} Please am new on using Renko charts and i like it because i can remove noise from normal charts i know there are 2 Renko Chart how can i set it to median when its not written as an option? please i always appreciate your advise
Using the ! MTH Renko Chart Builder Indi Ver 01.ex4 indicator you have to set the BoxShiftPercent1 to 50 to get a median Renko chart and 100 to get a normal Renko chart.
  • #36
  • Mar 3, 2020 10:32am Mar 3, 2020 10:32am
Quoting Hutch
{quote} Using the ! MTH Renko Chart Builder Indi Ver 01.ex4 indicator you have to set the BoxShiftPercent1 to 50 to get a median Renko chart and 100 to get a normal Renko chart.

Thanks so much i now understand
  • #37
  • May 20, 2020 5:49am May 20, 2020 5:49am
Quoting Hutch
{quote} Using the ! MTH Renko Chart Builder Indi Ver 01.ex4 indicator you have to set the BoxShiftPercent1 to 50 to get a median Renko chart and 100 to get a normal Renko chart.
Hi Hutch, do you know a version which doesn't need a lot of CPU? I've lowered the bars in the indi and also in MT4 itself but CPU is very high. Do you have an idea how to solve the problem? Thank you
  • #38
  • May 20, 2020 7:56am May 20, 2020 7:56am
Quoting LadyAmira
{quote} Hi Hutch, do you know a version which doesn't need a lot of CPU? I've lowered the bars in the indi and also in MT4 itself but CPU is very high. Do you have an idea how to solve the problem? Thank you
Sorry but I don't have a solution except to use a lower number of Renko charts. I have a 7 years old laptop with a 2.9 GHz CPU that has a better CPU than new computers with 4.0 GHz CPUs. Checking performance I have 31 Renko charts opened on 3 MT4s and they use only 15% of my CPU. Please note that often the problem is with MT4 that cannot accommodate enough charts.
Attached Image (click to enlarge)
Click to Enlarge Name: Performance.jpg Size: 66 KB
Attached Image
  • #39
  • May 28, 2020 2:24am May 28, 2020 2:24am
Quoting LadyAmira
{quote} Hi Hutch, do you know a version which doesn't need a lot of CPU? I've lowered the bars in the indi and also in MT4 itself but CPU is very high. Do you have an idea how to solve the problem? Thank you
MT4 is reliant on single core processing. So if you have a CPU with inefficient single core processing, or one with many cores such as some AMD processors, you can lack single core processing power. I myself have a 6700k, though with Hutch's example, my CPU is reported to have a 28% faster single core processing speed from consumer orientated data, and I have several instances of MT4 open at once running different strategies with little to no usage. If you're using a budget laptop or PC then you'll have to expect high CPU usage as odds are it probably doesn't excel in single core processing, especially if you like to multitask as well. What CPU do you have?
  • #40
  • Nov 28, 2020 6:21am Nov 28, 2020 6:21am
Thank you sir...
Please I want to know if you can add a range renko bars (like in the screenshot picture), because my strategy is based on ranges... and please I need your confirmation that it's not a repainting renko chart... if it repaint like all the renko charts than what's the best solution!? Please I need your answer... thank you in advance
Attached Image (click to enlarge)
Click to Enlarge Name: R chart.png Size: 382 KB
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