03.freeman

Renko Strategy Open_Close

Simple Renko strategy, very profitable. Thanks to vacalo69 for the idea.
Rules when the strategy opens order at market as follows:
- Buy when previous brick (-1) was bearish and previous brick (-2) was bearish too and actual brick close is bullish
- Sell when previous brick (-1) was bullish and previous brick (-2) was bullish too and actual brick close is bearish
Rules when the strategy send stop order are the same but this time a stop buy or stop sell is placed (better overall results).
Note that strategy open an order only after that condition is met, at the beginning of next candle, so the actual close is not the actual price.
Only input is the brick size multiplier for stop loss and take profit: SL and TP are placed at (brick size)x(multiplier) Or put it very high if you want startegy to close order on opposite signal.
Adjust brick size considering:
- Strategy works well if there are three or more consecutive bricks of same "color"
- Expected Profit
- Drawdown
- Time on trade
This strategy uses Renko charts with TRADITIONAL bricks, so no repaint.
Study with alerts, MT4 expert advisor and jforex automatic strategy are available at request.

Please use comment section for any feedback.

Oct 14
Release Notes: Major update: now it works on standard candles too.
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I really like this strategy and have a few questions. In following the activity I notice that the bricks don't close at the time the price target to close the brick have triggered. Sometimes it takes a number of minutes before the trade displays on the screen. I have also noticed a few incidents where a trade should have triggered and seems to be ignored by the strategy. Also is there a way to export the trade data to Excel or a csv file? Thanks so much! Phil Brann (937) 218-1600.
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