Renko Trend for MC

Package: Progster's Renko Trend 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 trend-trading style of Renko trading.

What It Is

A single strategy which goes long when an upward Renko trend begins and goes short when a downward Renko trend begins. Profit target and stop loss are expressed in #'s of Renko bricks, and the brick size itself is settable/optimizable.

Many test results from this strategy have been presented in the Renko Trend Strategy Research topic of the CFT Forum.

What It Looks Like

Here is a picture of the Renko Trend Strategy A applied to a 5m chart of the SP Mid-Cap 400:

As can be seen, the basic idea is to trade with newly established Renko trends. Beyond the basic idea, there are a number of subtle entry variations to be selected and/or optimized over.

And here is a picture of the strategy trading a 10t chart of the GOOG:

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 price movement was predictive of more movement over 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:

	a flag to indicate when a new brick is formed (and in which direction)
	the high, middle, and low value of the newly formed brick
	the age of the current brick
	the number of bricks in the current "brick trend"

and the strategy acts on this information to enter and exit trades at the beginning of new Renko trends.

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 a Renko trending technique on high timeframes (i.e. swing trading).

The strategy will trade a "since forever" Renko, or it will reset with each session to any of 3 different reset levels.

Optimization in MultiCharts is exceptionally fast when using a multi-core machine, as all the available cores will go to work crunching optimization iterations.

If you purchase the source-code option (only $125 additional), you will be able to alter the strategy or create your own custom variations of it as desired.

What You Get

The base package provides a protected .SEF file (non-disclosed source code, keyed to your CustomerID) containing the underlying functions, a closed-code version of 'Renko BrickTrend Strategy A', and Customer Support as needed to get it all running.

The source-code option, if purchased, provides a .pla file with fully disclosed code for 'Renko BrickTrend Strategy A'.

Compatibility

The non-source version of 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 the closed-code base package is $200. The source-code is available for $125 extra.

(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, or $625 with strategy source-code included.)

How You Get It

This package must be purchased at the same time as, or anytime after, purchasing Swisstrader's Renko Indicator Package. Please purchase the base package with the 'Add to Cart' button near the top left of this page.

After receiving and installing the base package, contact CFT for additional instructions if you wish to purchase the source-code option.

The package will be emailed to you after your PayPal payment is processed.

Please be aware of the caveats before you order.