I use renko for years, if you want to see PA in real, ideally you should use 1 point block renko. But, its consume MT4 resources and sometime make MT4 crash.
I'm not use 'fractal' but 123 pattern indicator it's same concept I think..
and combine it with divergence..
keep up the good work, you are in the right track..
- mahanxiong Joined Apr 2012 | 61 Posts | Status: Member
here is the SS of my RC
Hi, Some friends here PM me.. about renko chart builder EA/Indicator and also divergence indicator so here we go..
for divMACD indicator be careful that it will 'crash' your MT4 if your MT4 memory/resource not big enough.. my suggestion you can use it with renko chart with 5 point up renko brick size..
I Use EA type for create renko chart with capability to create 2 renko chart with different offline TF (exp: M2 and M3) so you can create 2 different brick size renko chart using only 1 M1 standard chart for data feed.
for divMACD, you can select alot of choices for data feed calculation, you can see that in bellow part of setting window of indicator.
also there is 123 breakout indicator if you need it..
Hope it help.
for divMACD indicator be careful that it will 'crash' your MT4 if your MT4 memory/resource not big enough.. my suggestion you can use it with renko chart with 5 point up renko brick size..
I Use EA type for create renko chart with capability to create 2 renko chart with different offline TF (exp: M2 and M3) so you can create 2 different brick size renko chart using only 1 M1 standard chart for data feed.
for divMACD, you can select alot of choices for data feed calculation, you can see that in bellow part of setting window of indicator.
also there is 123 breakout indicator if you need it..
Hope it help.
Attached Files
-
- rukmesh123 Joined Sep 2012 | 7 Posts | Status: Member
sorry for my english,
Thx, that SS is 5 point renko brick/block. but ideally the real Price Action Renko is 1 point brick so you can really 'see' what's going on with 'price movement' that sometimes even 1 minutes standard TF can't show you.
With 1 pont renko brick, almost all indicators that use OHLC data feed will work 'better' than in standard TF..
and yes, I use 123 breakout concept for my 'renko trading' that similar to this thread concept especially at trending market.
A lot of people complaining about 'renko' as unreliable chart type..lol.
But,...
Thanks Kiads for letting us know your way of trading. I am a newbie just started with practicing on demo and learning renko last couple of weeks. I am not sure if i am seeing the things as you. Below is my chart of 1 point Renko of EU with ichi and 123 indi. Have marked then entry points in blue. Please help in understanding.
best regards
-
- starlimit03 Joined Feb 2009 | 39 Posts | Status: Member
Hi my friend, sorry not to explained more clearly
here is the picture only 1 point brick renko with ichimoku 5.25.50 without Chinkou span
hope it help
Hi Kiads,
can you pls post your template?. and i belive the renko should be in the expert folder? kindly explain how to install it.
It takes the Mind to Make Money.............
| Thread Tools | Search this Thread |
| |