Move stop by number of RENKO bricks

[Sheera123]

Hello,

Could you please create a strategy that moves the stop by x number of completed Renko bricks based on the "Renko Chart New" view.

Thanks in Advance,

Shawn H.

[Apprentice]

Sure.
Will you use it for a certain logic,
or will you apply it to the individual position, opened by the user or another strategy.

[Sheera123]

I will be using it on individual positions. This is to avoid having to move it manually every time a new brick is created and lock in profits as the trade moves in my favour since my strategy is manual.

I have a simple manual strategy where I use a 10pip renko brick size with a 6 period MVA and I use it as follows on a 1 minute "Renko Chart New" view:

LONG ENTRY / EXIT
1. Go long when the 1st complete brick has formed above the MVA (both, open and close of the brick must be above the MVA).
2. Exit (don't enter a new position) when the 1st opposing brick has formed above the MVA or anywhere on the MVA line without closing completely below it (both open and close must NOT be below the MVA).
3. Re-enter the long position if and when step 1 repeats.

SHORT ENTRY / EXIT
Repeat the long entry steps, but in the opposite direction.

I tried tried using the "RENKO MA STRATEGY" to do something similar, but the strategy itself doesn't seem to work, it doesn't trigger any signals or trades.

If you can create a strategy to automate my manual strategy, that would be fantastic and it can be used for smaller brick sizes. But since 10pip bricks can take a long time to form I can manage trades manually, but having the stop move automatically by x number of bricks (as I won't be watching it all the time) would help lock in profits if the trade is moving in my favour.

Thanks again,
Shawn H

[Apprentice]

Your request is added to the development list.
Development reference 259.

[Apprentice]

Already coded:
viewtopic.php?f=31&t=66935
viewtopic.php?f=17&t=62223

[Sheera123]

Thanks Apprentice, but neither of the two already coded strategies will move the stop the way I would like it. What I need is, after I enter a trade I want to trail the stop by a selected number of completed bricks on the "Renko New view" chart. It would be similar to the "PIPTRAILING" strategy, but instead of trailing the by a selected number of pips, it would trail by a selected number of completed bricks.

"PIPTRAILING" strategy
viewtopic.php?f=31&t=67007&p=122342&hilit=piptrailing#p122342

Thanks,

Shawn H

[Apprentice]

Try this version.
viewtopic.php?f=31&t=69100

[Sheera123]

Thanks Apprentice, but it doesn't seem to work. I tried it in simulation and real mode, but it both cases the stop doesn't advance as new bricks are formed. Can you please have a look at as this would be vital for my Renko strategy.

Shawn H

[Apprentice]

Have you tested it on Demo / Real?
Or Backtester and Simulation?

[Sheera123]

I tested it a real trade and it ran for several hours, and 4 new consecutive long bricks were created, but the stop didn't move from it's original position. I also tried it in simulation mode and saw the same issue.