Renko indicator / automated trading

[Mike77]

I'm very new to IB

Is it possible for me to set up automated trading on IB for stocks using a renko indicator/strategy as an entry and exit?

Thanks in advance

 

[guru]

Brokers don’t run automated strategies and do not perform automated trading. All they do is send your orders to an exchange to be executed.
You’d need trading software for automated trading:
https://www.elitetrader.com/et/forums/trading-software.3/

 

[ZBZB]

You can program to the API. Maybe a third party program can do automated Renko to IB. Look at www.motivewave.com www.ninjatrader.com www.multicharts.com www.sierrachart.com www.medvedtrader.com

 

[El OchoCinco]

You can do it on NinjaTrader with their basic renko or simply go to a 3rd party and download a renko indicator. then load it in and run the strategy tester to see the results.

 

[HobbyTrading]

All what IB provides is prices (historical and live). It is up to you to construct whatever you need, such as Renko, indicators, and whatnot. Based on the outcome of whatever you coded will you send buy/sell orders to IB which are then executed.

 

[Minypeterson]

Yes, you can definitely go for automated trading and handle your trading attempts through it. This will make trading easier for you, even when you are not capable of devoting hours of the day on it. But make sure the rules you enter should be appropriate and prove to be profitable and with low risk.