Reducing losses in Renko 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
My renko AFL is working just fine. Its the false trades due to toggling and whipsaws that Im trying to reduce a tad bit. I did try Range bars on Amibroker before but it wasnt working too great on Ami essentially because I did not have tick data.
I suppose you are into day trading. Do you do your end of the day analysis to develop context going into the next day's trading? In other words if you get your context right, then you may not need more indicators.
Im trying to do that, but not much success yet only with Renko and Supertrend. Thinking of adding a Donchian channel to the two now.


Well-Known Member
It all depends on how you construct the Renko bricks. Depending upon the reversal brick size the Renko charts vary. I suggest you to go for lowest brick size and highest reversal setting
To avoid failure in renko , you must avoid sideways market , you can detect sideways market using bollingar bands or you can create custom indicator with multiple moving averages ...example 5,20,40,60 etc..test with different variables.

If the difference or distance between all the moving averages are small , it means price is moving in sidewaus and if difference between them is big it means price is trending ,,

So just dont during sideways.

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