Reducing losses in Renko trades

#1
Hi,

I am getting an AFL coded with Renko and Supertrend. However , I am observing the trend at time toggles when the trend is changing resulting in a few false trades.

I am trying to research an additional indicator with this setup that will avoid the toggling/ false trades. Been looking at Donchian channel and Bollinger bands but havent decided as yet.

Can someone ple suggest which is a good indicator to use with Renko and Supertrend to reduce the number of false trades?

Experts, can you pls suggest ? Thanks a lot.
 

bashasm

Well-Known Member
#2
Hi,

I am getting an AFL coded with Renko and Supertrend. However , I am observing the trend at time toggles when the trend is changing resulting in a few false trades.

I am trying to research an additional indicator with this setup that will avoid the toggling/ false trades. Been looking at Donchian channel and Bollinger bands but havent decided as yet.

Can someone ple suggest which is a good indicator to use with Renko and Supertrend to reduce the number of false trades?

Experts, can you pls suggest ? Thanks a lot.
I'm not sure adding more indicators will help you, it will just increase your confusion
 

bashasm

Well-Known Member
#4
I think I should add just one more indicator to reduce the false trades.....any thoughts on what that could be?
Bro, I am no expert, but that depends on you. For example, you can add an oscillator like RSI/Stoch
 

monkeybusiness

Well-Known Member
#9
Nah....just trying to reduce a few false trades..
Also check the Renko charts on NT or some other platform with same point size with your customized AFL.
Very few top notched AFL coders have successfully done renko AFL's, none of them are available in public domain( one AFL done by Graham Cavanah is available in ami website). Tomasz recommends range bars, for that you need accurate tick data. GDFL/TD provides 1sec data
 

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