Package: Progster's Renko BrickBox Strategy A
for MultiCharts
There are multiple ways to
trade a market after performing a Renko analysis of
it's price action. This add-on to
Swisstrader's Renko Bricks Indicator Package
implements a range-based, trade-the-box style of Renko trading.
What It Is
A single strategy which
treats Renko bricks as tradable "boxes", going long
on closes "near" the brick bottom, or short on
closes "near" the brick top. Profit target and stop loss are expressed in #'s of
Renko bricks (fractions allowed), and the brick size itself is settable/optimizable.
The notion of "near" is
variable (and optimizable) so that the strategy can
trade either at, "just inside" or "just outside" of the
current brick boundary.
Example test results from this
strategy have been presented in the
Renko BrickBox Strategy
Research topic in the CFT Forum.
What It Looks Like
Here is a picture of the
Renko BrickBox Strategy A applied to a 5m chart of
CSCO:
Note how long entries are
taking place at the bottom of down bricks and short
entries are taking place at the top of up bricks.
A short minimum brick age is also a requirement in
the case shown. The strategy itself is open
code, so you may easily add your own subtle
variations to those which are already supplied.
And here is a picture of the strategy trading a
210t chart of the ES:
The strategy optimizes easily
and quickly on any symbol or timeframe (time-based
bar type).
You set the scale of interest
with your definition of brick size (or let the
optimizer vary it), then run the strategy to find
out how much motion was predictive
of a subsequent tradable retracement for the historical data under test.
How It Works
This strategy uses
SwissTrader's Renko function to calculate all Renko
information.
The function call makes
available to the strategy:
and the strategy acts to enter
either "inside" or "outside" after bricks of the
specified size form.
Special Features
Brick height (price range) may
be specified in ticks, or in percent (of price).
Using a brick height in ticks is ideal when daytrading
on a low timeframe chart, taking advantage of the
strategy's ability to "reset" the Renko calculation
at the start of each new session.
Using a brick height in
percent provides an "apples-to-apples" comparison of
how different symbols trade using this Renko "bet on
retracement" technique on high timeframes (i.e. swing trading).
The strategy will form bricks
using a
"since forever" Renko, or it will reset with each
session to any of 3 different reset levels.
You
will be able to perform the same tests
(and more!) as shown in the public
Renko BrickBox Strategy
Research of the CFT Forum, on
whatever symbols and timeframes you are interested
in.
Optimization in MultiCharts
is exceptionally fast when using a multi-core
machine, as all the available cores will go to work
crunching optimization iterations.
You will be able to alter
the strategy or create your own custom variations of
it as desired, as the strategy itself is delivered
as open source code.
What You Get
A
protected .SEF
file (non-disclosed source code, keyed to your
CustomerID) containing the underlying functions, an open-code .PLA file containing 'Renko
BrickBox Strategy A', and Customer
Support
as needed to get it all
running.
Compatibility
This package is
compatible ONLY with versions of MultiCharts
distributed via direct download from the TSSupport
web site. Unfortunately, for technical
reasons, this package IS NOT COMPATIBLE with
separate versions of MultiCharts distributed by
other means (e.g. other national or regional
resellers, etc.).
What It Costs
The price of this strategy is
$200.
(Note: The pre-requisite
Swisstrader's Renko Bricks
Indicator Package is $300, so
that's a total of $500 to be up-and-running with this strategy code already written for you.)
How You Get It
This package must be purchased
at the same time as, or anytime after, purchasing
Swisstrader's Renko Indicator Package.
The package will be emailed to
you after your PayPal payment is processed.
Please be aware of the
caveats
before you order.
