RENKO system with Mihailo! | Forex Factory

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RENKO system with Mihailo!

  • #1
  • First Post: Edited Mar 23, 2012 3:31pm Oct 28, 2011 2:27pm | Edited Mar 23, 2012 3:31pm
Hi to everyone!

My name is Mihailo and I'm dealing with the FOREX more than 3 years!

During that time i tried to find a system that suits me best. I spend a lot of time trading with the Thv system and earn a good money with it. When I first heard about RENKO candles, I came to the fantastic conclusion that time is not the most important factor for trading.

I think that there is no mater if price goes 20 pips in any direction in 3, 5 or 25 minutes.
Only thing that is important is that PA GOES 20 pips in whatever direction and I want to catch it!

RENKO system shows you THE MOVE on the market - who cares in what time!

In this thread I will try to explain, to everyone who wants to know, all what I know!

WELCOME!!!


*********** Renko Thv 5! ***********

*THIS SYSTEM REQUIRES BASIC KNOWLEDGE AND SKILLS IN TRADING OF AT LEAST SIX MONTHS!*


*** HOW TO INSTALL! *** or you can download the installation manual here


1. Extract "Paket 5!"

2. Install Stratman font in your Windows+Fonts folder

3. Copy RenkoLiveChart_v3.3.ex4 from Experts folder to your experts folder of your Mt4

4. Copy all indicators from the Indicators folder to your experts+indicators folder of your mt4.

5. Copy profiles "5!!!" and "Renko thv 5" from Profiles to your Profiles folder of Mt4.

6. Copy all templates from Templates folder to templates folder of your Mt4.

7. Start your Mt4 platform!

8. Chose from File+profiles "5!!!" or "Renko thv 5"

9. If you don't see the last two indicators on the bottom of your chart, just refresh chart using template for that pair.

10 If you want to trade GOLD click here!

Если вы хотите, руководство по эксплуатации на русском, нажмите здесь!

PLEASE CHECK EXPERT ADVISORS IN THE UPPER BAR TO BE GREEN

DO NOT ERASE ANY CHART FROM SETUP!

USE ONLY M3 OFFLINE CHARTS FOR TRADING!


****** READ MANUAL! ******



One of the setups have to looks like on this two pictures!

************************* VERY IMPORTANT THING FOR NEWBEES WITH RENKO : *************************

If you are using RENKO for a first time, after you install my system, you will find missing candles and your chart will not looks like on this pictures.

That is why you don't have a history for M2 and M3 candles.

To download history, open m1 chart of a pair that you want to trade, uncheck automatic scroll on the upper bar of Mt4 and pres and hold "Page Up" or "Home" button on your keyboard. After that restart your platform and history will appear.


Update Jan. 25th 2012. Before this update there was over 5.860 downloads of this system!

People who use micro accounts please click here!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: RenkoThv template.gif Size: 72 KB
Click to Enlarge Name: 51 template.gif Size: 61 KB
Attached File(s)
File Type: doc Manual - Verzija na Srpskom jeziku.doc   357 KB | 5,205 downloads | Uploaded Nov 4, 2011 12:27pm
File Type: doc Manual Espaņol.doc   369 KB | 5,952 downloads | Uploaded Nov 6, 2011 5:23am
File Type: rar Paket 5!.rar   567 KB | 28,434 downloads | Uploaded Jan 25, 2012 2:54am
File Type: pdf Manual.pdf   290 KB | 18,735 downloads | Uploaded Jan 25, 2012 3:02am
File Type: pdf INSTALLATION MANUAL.pdf   1.8 MB | 21,022 downloads | Uploaded Jan 25, 2012 3:02am
  • #2
  • Oct 28, 2011 2:42pm Oct 28, 2011 2:42pm
Glad to be here, hope to learn alot so I can improve in my trading
Look at something long enough, you will eventually get it.
  • #3
  • Oct 28, 2011 2:45pm Oct 28, 2011 2:45pm
Looking forward to the manual and seeing how you interpet the market.
Look at something long enough, you will eventually get it.
  • #4
  • Oct 28, 2011 2:50pm Oct 28, 2011 2:50pm
Count me in!

cheers
  • #5
  • Oct 28, 2011 3:00pm Oct 28, 2011 3:00pm
Looking forward to this!

Thanks!

Diego
  • #6
  • Oct 28, 2011 3:46pm Oct 28, 2011 3:46pm
sounds interesting!

i have range bar charts, not too much different from renko! good luck with the thread, i'll follow it!

cheers
  • #7
  • Oct 29, 2011 5:16am Oct 29, 2011 5:16am
look forward to your system...
  • #8
  • Oct 29, 2011 1:57pm Oct 29, 2011 1:57pm
Hi Mihailo.

I have a problem with the m2 and m3 charts - only showing "waiting for update" ?
  • #9
  • Edited 4:04am Oct 30, 2011 2:10am | Edited 4:04am
Quoting tremil
Hi Mihailo.

I have a problem with the m2 and m3 charts - only showing "waiting for update" ?
Just wait for tonight market to be open!
  • #10
  • Oct 30, 2011 3:16am Oct 30, 2011 3:16am
***************** Renko Chart **************************


Renko charts are price charts with rising and falling diagonal lines of boxes that are either red or blue (in my system). Renko charts are "time independent" charts that do not have constantly spaced time axes. Down is an example of a Renko chart

The word "Renko" comes from "Renga", the Japanese word for "brick". The filled and hollow squares that make up a Renko chart are often referred to as "bricks." Renko charts were popularized by Steve Nison in his book Beyond Candlesticks.

Renko charts have a pre-determined "Brick Size" that is used to determine when new bricks are added to the chart. If prices move more than the Brick Size above the top (or below the bottom) of the last brick on the chart, a new brick is added in the next chart column. Blue bricks are added if prices are rising. Red bricks are added if prices are falling. Only one type of brick can be added per time period. Bricks are always with their corners touching and no more than one brick may occupy each chart column.

It's important to note that prices may exceed the top (or bottom) of the current brick. Again, new bricks are only added when prices completely "fill" the brick. For example, for a 5-point chart, if prices rise from 98 to 102, the blue brick that goes from 95 to 100 is added to the chart BUT the blue brick that goes from 100 to 105 is NOT DRAWN. The Renko chart will give the impression that prices stopped at 100.

It's also important to remember that Renko charts may not change for several time periods. Prices have to rise or fall "significantly" in order for bricks to be added.

Interpretation

Blue bricks are bullish, red bricks are bearish - that's the simplest interpretation of Renko charts. Renko charts may be most useful in identifying trends and trend direction. Because they screen out moves that are less than the Brick size, trends are much easier to spot and follow.
Attached Image (click to enlarge)
Click to Enlarge Name: renko.gif Size: 11 KB
  • #11
  • Oct 30, 2011 4:41am Oct 30, 2011 4:41am
Attached File(s)
File Type: ex4 SimulateTick.ex4   2 KB | 5,979 downloads


Here is a Simulated Tick , Put in your script folder , attach to chart after you install your ea, It should help out when it;s the weekend and the markets are closed.

Mihailo, thank you for shareing your system, I have always like renko trading systems because of taking out the market noise, Looks like you have mastered this one. Many pip to you.

fishman356
  • #12
  • Oct 30, 2011 6:54am Oct 30, 2011 6:54am
Quoting fishman356
Attachment

Here is a Simulated Tick , Put in your script folder , attach to chart after you install your ea, It should help out when it;s the weekend and the markets are closed.

Mihailo, thank you for shareing your system, I have always like renko trading systems because of taking out the market noise, Looks like you have mastered this one. Many pip to you.

fishman356
Thank you man!
  • #13
  • Edited 11:44am Oct 30, 2011 9:24am | Edited 11:44am
Quoting Mihailo
Thank you man!
Hi Mihailo !

Congratulations for the new thread, a very good idea !

Could you please write the rules for enter / exit ?
The most important thing, how you make your technical analyse on the superior tf's ?
I don't see a SL, what is your stop loss ?

Thank you
  • #14
  • Oct 30, 2011 10:42am Oct 30, 2011 10:42am
Quoting fishman356
Attachment

Here is a Simulated Tick , Put in your script folder , attach to chart after you install your ea, It should help out when it;s the weekend and the markets are closed.
Thanks Fishman356. I attached the tick simulator to the 1m charts. Works like a charm.

And a big thanks to Mihailo for sharing.
  • #15
  • Oct 30, 2011 11:31am Oct 30, 2011 11:31am
[quote=Mihailo;5084169]***************** Renko Chart **************************
......For example, for a 5-point chart, if prices rise from 98 to 102, the blue brick that goes from 95 to 100 is added to the chart BUT the blue brick that goes from 100 to 105 is NOT DRAWN. The Renko chart will give the impression that prices stopped at 100. .....
quote]

Hi Mihailo

How do we vary the point ? Eg from a 5-point chart to a 3-point chart.
Thank
  • #16
  • Oct 30, 2011 11:44am Oct 30, 2011 11:44am
[quote=CowLee;5084650]
Quoting Mihailo
***************** Renko Chart **************************
......For example, for a 5-point chart, if prices rise from 98 to 102, the blue brick that goes from 95 to 100 is added to the chart BUT the blue brick that goes from 100 to 105 is NOT DRAWN. The Renko chart will give the impression that prices stopped at 100. .....
quote]

Hi Mihailo

How do we vary the point ? Eg from a 5-point chart to a 3-point chart.
Thank
Go to RenkoLiveChart 3.3 properties on M1 chart by clicking left click on smile in the right upper corner and change RenkoBoxSize from 5 to 3.
  • #17
  • Oct 30, 2011 11:54am Oct 30, 2011 11:54am
[quote=Mihailo;5084671]
Quoting CowLee

Go to RenkoLiveChart 3.3 properties on M1 chart by clicking left click on smile in the right upper corner and change RenkoBoxSize from 5 to 3.
Thank
  • #18
  • Oct 30, 2011 11:54am Oct 30, 2011 11:54am
Quoting vasi
Hi Mihailo !

Congratulations for the new thread, a very good idea !

Could you please write the rules for enter / exit ?
The most important thing, how you make your technical analyse on the superior tf's ?
I don't see a SL, what is your stop loss ?

Thank you
Hi vasi!

I'm preparing detail manual so all your questions will be answered!

Thanks for good wishes!
  • #19
  • Oct 31, 2011 4:12am Oct 31, 2011 4:12am
Mihailo Hello, I am fan of yours ....... for some time has been 1 year without knowing anything about you ............... this morning to see your post ... oooaaauuu .........!!

Please do not disappear again for so long.

................................... I read that going to say when Start and closed their traders.

I am following your system since long time ... 13 Complex, etc. .....

I see a new version of it.


For my part I welcome ................... and pending the new manual.

  • #20
  • Oct 31, 2011 4:16am Oct 31, 2011 4:16am
Quoting fcesc73
Mihailo Hello, I am fan of yours ....... for some time has been 1 year without knowing anything about you ............... this morning to see your post ... oooaaauuu .........!!

Please do not disappear again for so long.

................................... I read that going to say when Start and closed their traders.

I am following your system since long time ... 13 Complex, etc. .....

I see a new version of it.


For my part I welcome ................... and pending the new manual.

Nice to see you here!

I didn't have anything clever to say in the past period, so it's better to be silent!
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