Renko and Pivot point strategy

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Renko and Pivot point strategy

Postby eijicrown » Fri Nov 29, 2019 7:08 am

Dear Apprentice,

I would like to develop a strategy based on Renko and Pivot points which very successful for me. I m using Future_renko view and the Pivot indicator

to set:
the number of lots per position - 1 position at the time.
Renko size brick:
Time frame:
Close on the opposite
The pivot point setting: the period of calculation (can be set: H1, H2, H4, etc ...)

Open/Close a position of x contract: Renko bar +1 after Renko bar cross the Pivot Point (Cf Graphic).

Take profit: every time the price hit a New Resistance or Support, R1, R2, or S1,S2, etc ...
Take profit of x%: every time the price hit resistance or support.

Example - Percentage profit set at 30%. Opened position of 100 contracts.
Take Profit R1: 30% of 100 contracts
Take profit R2: 30% of the remaining 70 contracts
Take profit R3: 30% of the remaining 49 contracts
Closing on Renko bar +1 on the other side of Pivot point (P)

Stop value: when opening: x pips
Trailing:
Price cross R1: Stop loss moved to Pivot point (P)
Price cross R2: stop loss moved to R1
Price cross R1 of a new Pivot point period: stop loss stays at previous stop loss level or moved to the new pivot point (if this one is higher than previous stop).

Thanks for your help and support.
Attachments
REnko PP strategy.JPG
eijicrown
 
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Re: Renko and Pivot point strategy

Postby Apprentice » Sat Nov 30, 2019 6:26 am

Your request is added to the development list.
Development reference 383.
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Re: Renko and Pivot point strategy

Postby Apprentice » Tue Dec 03, 2019 6:23 am

Strategy backtesting is NOT available.
Renko_candles_New.lua if available here.
viewtopic.php?f=17&t=60748
Renko_and_Pivot_strategy.lua
(139.89 KiB) Downloaded 276 times
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Re: Renko and Pivot point strategy

Postby eijicrown » Tue Dec 03, 2019 2:42 pm

Amazing, thanks.
Gonna test straight away.

Cheers :P
eijicrown
 
Posts: 52
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Re: Renko and Pivot point strategy

Postby eijicrown » Wed Dec 04, 2019 12:39 pm

The strategy seems to work, but unfortunately it doesnt seems to take multiple trade.

Cf photo. The robot missed the entry and then a take profit at 25, 60, 125, 210 pips :(
Attachments
Renko pivot test.JPG
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Re: Renko and Pivot point strategy

Postby Apprentice » Thu Dec 05, 2019 6:59 am

Can't repeat. But fixed a possible bug.
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Re: Renko and Pivot point strategy

Postby eijicrown » Thu Dec 05, 2019 1:31 pm

Is there any settings I have to adjust as the robot seems to work but randomly.


The signal should be Renko +1 cross over Pivot point. Opening or closing a position
(same idea as the Renko + Moving average strategy you developed).

thank you
Attachments
REnko PP2.JPG
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Re: Renko and Pivot point strategy

Postby Apprentice » Fri Dec 06, 2019 2:16 pm

Your request is added to the development list.
Development reference 407.
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Re: Renko and Pivot point strategy

Postby eijicrown » Tue Dec 10, 2019 1:43 pm

Thank you, I tried but few steps to adjust.

As per attached photo.
Entry should be
When pivot point is created - the first free Renko bar give the signal (free = not touching the pivot point line)
Option A: the Renko bar is free from the pivot point (number 1 on the photo)
Option B: Renko bar cross the pivot point then the signal is the next bar (number 2 and 3 on the photo - not touching the pivot point line)

the Stop seems to be working properly.

Closing if not by the stop loss, it should be on the opposite free Renko bar.
By example, on the photo if a position is open on number 2 and let's say that no stop is hitted the closing position should be number 3.

At the moment, it is closing on number 4 - then opening a new position buy in number 4

Thank you apprentice
eijicrown
 
Posts: 52
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