Package: Progster's Renko BrickAge Breakout Strategy A
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 consolidation breakout style of Renko trading.
What It Is
A single strategy which
waits for Renko bricks of a specified age to form
(establishing the "consolidation"), then trades a
breakout of the brick, going long, short, or both. Profit target and stop loss are expressed in #'s of
Renko bricks (fractions allowed), and the brick size itself is settable/optimizable.
Many test results from this
strategy have been presented in the
Renko BrickAge Breakout
Strategy Research of the CFT Forum.
What It Looks Like
Here is a picture of the
Renko
Trend Strategy A applied to a 30m chart of JPM:
Note how the breakout trade
is not taken until the brick has "aged to readiness"
. This is a "gray box" strategy, so
there are a number of subtle entry variations to be
selected and/or optimized over.
And here is a picture of just the strategy trading a
50t
chart of the ER2:
The strategy optimizes easily
and quickly on any symbol or timeframe.
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 how long of a consolidation was predictive
of a subsequent successful breakout 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:
 | 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 breakout trades after
bricks of specified age 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 trending
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.
What You Get
A
protected .ELD
file (non-disclosed source code) containing 'Renko
BrickAge Breakout Strategy A'. This will
let you perform the same tests
(and more!) as shown in the public
Renko BrickAge BreakOut Strategy Research
of the CFT Forum, on whatever symbols and timeframes
you desire,
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.
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