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.
Remove from Favorite Scripts Add to Favorite Scripts
Good JOB!
Reply
hi can some one help me adding the function to close the trades ate the end of the day like a day trading script ?
+2 Reply
thanks you,the strategy looking good i will try it
question
is it possible to write alert for buying and selling ?
Reply
Script does not work
+1 Reply
Hi. I don't really understand coding so when I apply this code in pine editor it doesn't show anything. Does anyone have the working/updated code?
Reply
Unfortunately I lost everything with this script. How can you help me?
+2 Reply
when i post here the bracket not showing in post
Reply
just update buy_entry and sell_entry

code line no. 5 and 6

Reply
snbalar snbalar
@snbalar,

//@version=2
study("RENKO MAGIC ALERT") // Credit to CryptoJoncis for reusing some of his code
buy_entry = close > open and open < open
sell_entry = close < open and open > open
plot(sell_entry, 'sell', color=red, linewidth=1)
plot(buy_entry, 'long', color=blue, linewidth=1)
Reply
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