TWO RENKO STRATEGIES
Budget: $30 – $100 USD
STRATEGY #1 ..IN THIS STRATEGY WHEN I DROP THE EA ON A CHART FROM THE NAVIGATOR WINDOW OR FROM A TEMPLATE, THE EA OPENS A POSITION AS SOON AS THE CURRENT CANDLE CLOSES.. BUY OR SELL DEPENDING ON IF THE LAST BRICK/CANDLE CLOSED AS A BULLISH OR BEARISH CANDLE. IF THE CANDLE CLOSED AS A BULL CANDLE, A BUY IS OPENED ON THE NEXT CANDLE, IF IT CLOSED AS A BEAR CANDLE, A SHORT IS OPENED, AND SO ON. A POSITION IS OPENED ON EVERY CANDLE WITH A HIDDEN TP AND SL.( A CANDLE MUST HAVE CLOSED BEFORE ANOTHER POSITION IS OPENED). IF A CANDLE CLOSED IN A LOSS, THE LOT SIZE IS DOUBLED ON THE NEXT OPENED POSITION/BUY/SELL. FOR EXAMPLE, IF MY DEFAULT LOT SIZE IS 0.01 AND THE CANDLE CLOSED IN A LOSS, THE NEXT POSITION WILL BE OPENED WITH 0.02. IF THE NEW POSITION THAT WAS OPENED WITH A 0.02 LOT SIZE HITS THE TP OR CLOSED IN PROFIT, THE EA GOES BACK TO 0.01 LOT ON THE NEXT CANDLE..IF IT CLOSED IN A LOSS, THE NEXT POSITION WILL STILL BE 0.02 UNTIL IT CLOSED IN PROFIT. ONLY IF A CANDLE CLOSED IN A LOSS THAT THE NEXT POSITION WILL BE DOUBLED. NOTE THAT IF A CANDLE HITS THE TP BEFORE IT IS CLOSED, THE EA WILL STILL HAVE TO WAIT FOR THE CANDLE TO CLOSE BEFORE THE NEXT POSITION IS OPENED.
STRATEGY 2. WITH THIS STRATEGY, WHEN I DROP THE EA ON A CHART, EA WILL WAIT FOR THE CLOSE OF 2 CONSECUTIVE BULL CANDLES OR BEAR CANDLES BEFORE IT OPENS A POSITION. AFTER THE CLOSE OF 2 SAME-COLOR BULLISH BRICKS, EA OPENS BUY, AFTER THE CLOSE OF 2 CONSECUTIVE BEARISH CANDLES, EA OPENS SELL. JUST LIKE THE FIRST STRATEGY, EVERYTHING ELSE IS THE SAME. A VIRTUAL TP AND SL ARE SET ON EVERY POSITION, IF A POSITION CLOSE IN A LOSS, THE LOT SIZE IS DOUBLED ON THE NEXT BUY OR SELL POSITION THAT OPENED ETC. I THINK THAT IS ALL THERE IS. I HAVE OTHER INDICATORS WANT TO ADD BUT I WILL WAIT FOR THIS TO GET DONE FIRST. I AM ON A TIGHT BUDGET SO IF U CANNOT WORK WITH THE PRICE DO NOT TRY AND BID HIGHER. PLEASE WATCH THE VIDEO. THE EA USES NO INDICATOR SO IF U BID MORE THAN THE FIXED AMOUNT, DON'T WASTE YOUR TIME BIDDING.
MAGIC # xxx
DEFAULT LOT SIZE 0.01
DEFAULT HIDDEN TP 10PIPS
DEFAULT HIDDEN SL 30 PIPS
THE MULTIPLIER FACTOR DEFAULT IS 2.0 THIS IS THE VALUE FOR WHICH THE LOT SIZE WILL BE DOUBLED IF A CANDLE CLOSED IN A LOSS. FOR EXAMPLE, IF A CANDLE STARTED WITH A DEFAULT LOT SIZE OF 0.02 IT CLOSED IN A LOSS AND 2.0 IS IMPUTED AS THE MULTIPLIER FACTOR, THE NEXT POSITION OPENED WILL USE A LOT SIZE OF 0.04 TO TRY AND MAKE UP FOR THAT LOSS. IF THE NEW POSITION OF 0.04 CLOSED IN PROFIT, THE NEXT CANDLE THAT OPENS WILL GO BACK TO THE ORIGINAL LOT SIZE OF 0.02. IF THE 0.04 LOT ENDS IN A LOSS, EA WILL CONTINUE TO OPEN POSITIONS WITH 0.04 UNTIL THE CANDLE END IN A PROFIT
IF YOU HAVE NOT DONE ANY SIMILAR PROJECTS, DON'T WASTE YOUR TIME BIDDING, I'M TIRED OF EXPLAINING MYSELF. THE STG RENKO MAKER IS AN INDICATOR, THE RENKOLIVE CHART IS AN EA, SO IF YOU HAVE DONE RENKO PROJECTS BEFORE YOU SHOULD KNOW HOW TO USE THEM .
WHEN YOU TEST THIS EA PLEASE TEST USING RENKOS WITH "WICKS". THE BRICK SIZE WILL BE IN THE RENKO MAKER, AND PLEASE TRY AND MAKE IT POSSIBLE TO SAVE THE EA ON A TEMPLATE SO I CAN JUST DROP THE EA ON A CHART.
https://youtu.be/QSR2NX8UQOg
STRATEGY 2. WITH THIS STRATEGY, WHEN I DROP THE EA ON A CHART, EA WILL WAIT FOR THE CLOSE OF 2 CONSECUTIVE BULL CANDLES OR BEAR CANDLES BEFORE IT OPENS A POSITION. AFTER THE CLOSE OF 2 SAME-COLOR BULLISH BRICKS, EA OPENS BUY, AFTER THE CLOSE OF 2 CONSECUTIVE BEARISH CANDLES, EA OPENS SELL. JUST LIKE THE FIRST STRATEGY, EVERYTHING ELSE IS THE SAME. A VIRTUAL TP AND SL ARE SET ON EVERY POSITION, IF A POSITION CLOSE IN A LOSS, THE LOT SIZE IS DOUBLED ON THE NEXT BUY OR SELL POSITION THAT OPENED ETC. I THINK THAT IS ALL THERE IS. I HAVE OTHER INDICATORS WANT TO ADD BUT I WILL WAIT FOR THIS TO GET DONE FIRST. I AM ON A TIGHT BUDGET SO IF U CANNOT WORK WITH THE PRICE DO NOT TRY AND BID HIGHER. PLEASE WATCH THE VIDEO. THE EA USES NO INDICATOR SO IF U BID MORE THAN THE FIXED AMOUNT, DON'T WASTE YOUR TIME BIDDING.
MAGIC # xxx
DEFAULT LOT SIZE 0.01
DEFAULT HIDDEN TP 10PIPS
DEFAULT HIDDEN SL 30 PIPS
THE MULTIPLIER FACTOR DEFAULT IS 2.0 THIS IS THE VALUE FOR WHICH THE LOT SIZE WILL BE DOUBLED IF A CANDLE CLOSED IN A LOSS. FOR EXAMPLE, IF A CANDLE STARTED WITH A DEFAULT LOT SIZE OF 0.02 IT CLOSED IN A LOSS AND 2.0 IS IMPUTED AS THE MULTIPLIER FACTOR, THE NEXT POSITION OPENED WILL USE A LOT SIZE OF 0.04 TO TRY AND MAKE UP FOR THAT LOSS. IF THE NEW POSITION OF 0.04 CLOSED IN PROFIT, THE NEXT CANDLE THAT OPENS WILL GO BACK TO THE ORIGINAL LOT SIZE OF 0.02. IF THE 0.04 LOT ENDS IN A LOSS, EA WILL CONTINUE TO OPEN POSITIONS WITH 0.04 UNTIL THE CANDLE END IN A PROFIT
IF YOU HAVE NOT DONE ANY SIMILAR PROJECTS, DON'T WASTE YOUR TIME BIDDING, I'M TIRED OF EXPLAINING MYSELF. THE STG RENKO MAKER IS AN INDICATOR, THE RENKOLIVE CHART IS AN EA, SO IF YOU HAVE DONE RENKO PROJECTS BEFORE YOU SHOULD KNOW HOW TO USE THEM .
WHEN YOU TEST THIS EA PLEASE TEST USING RENKOS WITH "WICKS". THE BRICK SIZE WILL BE IN THE RENKO MAKER, AND PLEASE TRY AND MAKE IT POSSIBLE TO SAVE THE EA ON A TEMPLATE SO I CAN JUST DROP THE EA ON A CHART.
https://youtu.be/QSR2NX8UQOg