vacalo69

Renko Magic - Strategy

(reposting as i did a mistake and posted it as ''Idea''and not as ''Script'')

$$$$ ridiculously good $$$$ strategy based on my previously published ''Renko Magic''alerts

HOW WORKS:
- ENTER a trade JUST AFTER 1 renko brick is printed.
- EXIT that trade, and open a new reverse position, just after 1 renko brick is printed in the opposite direction.
Simple!

HOW TO USE:
- Add script in favorites using the button on this page
- Click on the top the button 'Índicators'' & go to favorites folder and add in graph.
- Now you can see the buy/sell arrows in the graph.
- In the ''strategy tester'' window on the bottom, click on the cog(Settings icon) on the bottom left. There see the tabs:
- ''Inputs'' Default date set from 19 March 2018 - 19 June 2018. Change it to whatever you want
- ''Properties'' 100% of equity. Commission=0.075% (bitmex)

RESULTS: Ridiculous! With timeframe = 1minute & Renko brick = $12, in 3 months it gives 5486% ?!?!

PLAY AROUND with:
- Renko brick size: using the traditional method and see what gives better % for your date range.
- Timeframe: I always use 1minute as the way TradingView Renko works it will 1minute before printing the brick. Any time bigger than this could result in a delayed printing of the brick and delayed entry. What are your thoughts on this?
- You can use https://autoview.with.pink/ to create a bot using this strategy :) $$$ while snoring!
- On the code you can change it from ''just after 1 brick''to ''just after 2 bricks''

SHARE YOUR THOUGHTS:
- on this strategy
- on the impact (good/bad) to the % gain that the different TimeFrames (5minute, 1 hour, etc) can have.
- automation using https://autoview.with.pink. Its a good solution but bitmex gives a few ''System failures'' via the API due to overload. Any ideas how to overcome this? or any platform that also has shorts&longs and leverage, and decent fees like bitmex?
- how reduce number of trades opened/closed? For example combine with other indicators like Stoch RSI , RSI , etc.
הסר מסקריפטים מועדפים הוסף לסקריפטים מועדפים

תגובות

Unfortunately I lost everything with this script. How can you help me?
+11 השב
thanks you,the strategy looking good i will try it
question
is it possible to write alert for buying and selling ?
+8 השב
hi can some one help me adding the function to close the trades ate the end of the day like a day trading script ?
+7 השב
You have to be careful the backtest results are complete useless using Renko! You never get the prices the backtest tells you it gets. That's why the return is that extreme. Most of the time what seems too good to be true is often not true.
+4 השב
Is this just an update of the Renko MAGIC Alert or different?
+3 השב
The problem with this backtest is when there is quick change between bull and bear brick. Then the entry price is taken as open of new brick, but it should be close of current brick. Like in this screenshot
+2 השב
Script does not work
+2 השב
Good JOB!
+1 השב
Please explain this again little bit confusing how to enter and exit """""HOW WORKS:
- ENTER a trade JUST AFTER 1 renko brick is printed.
- EXIT that trade, and open a new reverse position, just after 1 renko brick is printed in the opposite direction.
Simple! """""
+1 השב
vacalo69 Rohit_Shinde
@Rohit_Shinde, Enter just after the formation of the 1st brick (in any direction). Exit the same way (and enter a new position on the opposite direction).
Have a look at the graph above from 2018-06-18 at 17:45 (enter buy) and 2018-06-18 19:30.
Let me know if it is still unclear
השב
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