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Quoting Kiads
Actually, in those type of broker you can do it with other similar pair, you can 'protect' your GBPJPY south retracement by open Sell at EURJPY that actually go south faster than GBPJPY at this moment. but maybe for right now it is little bit too late. I think all JPY pair only 'in retrace' since that Japanese government so desperately wanna make their Yen more cheaper whatever it takes..
Believe me, I know all the hedging other currency pair tricks, but NONE of them move with the volatility that Grumpy Granny has. If I Hedge with GbpUsd, I need to triple the lots used to stand a chance of catching up. Specially if UsdJpy and GbpJpy are both going same direction opposite my open position.

But yes, I do not stress too much since I too see it as a retrace, not a reversal. Not only because of Japanese wish for weak Yen, but also from what I see on charts. But as you know, I would much rather have caught 100 or 150 pips in a short position (and catch it as well on the way back up) than to sit and wait out the retrace...

That leaves me with making pennies on other pairs. EurUsd moves so little the snails overtake it. I am a speed freak. AudUsd is usually a pretty good 'stable' one as well, but you wait 4 hours to reach 30 pips usually, before a retrace. If you want more than that, you have to wait.

Yes, it is too late now to Hedge elsewhere. If I really get bored I will scalp on other pairs, and long scalps on GY as well.
  • Kiads
    Joined May 2012
For EU with my template so far so good 'synchronizing' between double bands in main chart and BMI mod in sub windows at standard candlestick chart or renko chart.

as we predict before EU 'touchdown' the previously 'showed' support level of double lower BB and 'bounced' there..(picture 1)

Attached Image (click to enlarge)
Click to Enlarge Name: 72 EMA HLBB BMI EUM15 2013_01_03_1255.png Size: 70 KB


after this it could be similar price movement/action that will happened just like example in this picture 2

Attached Image (click to enlarge)
Click to Enlarge Name: 72 EMA HLBB BMI EUM15 2013_01_03_1255b.png Size: 346 KB
  • Kiads
    Joined May 2012
Quoting BlueMental
Kiads (and others)

What are your thoughts about this. So far untested, but I did check the idea backwards through the chart. It has good possibilities. I will test it further on demo before using it though.

Your thoughts Kiads?
<edit> Oops, I moved the forst circle to check something. It was in the bigger one to it's right and had an upward 'breakout' happening, But it would have hit SL (assuming I set one) and made a small loss (+- 20 or so pips). Remember, this is 'theoretical trading so far. </edit>
For geometrical charting using fibo arch and other object tools stuff and implemented to 'renko' (do you already try 'my renko' my friend ?).
I will 'show' you example of what is so called FACT (Fibonacci Arch Contrarian Triangle) is..
let we take GBPJPY for example..
first I will create FibArch with a lot of level with standard range step (similar to Fibonacci ratios but this is from quarter theory). the step range from 0% to 200% with increment of 12.5% ( how often you see this number from me.. lol). so the level will be 0% 12.5% 25% (which close enough with 23.6 % of fib ratio), 37.5% (near 38.2% fib) 50% , 62.5% (near 61.8% fib), 75% (near 76.4% fib) and so on until 200%.

In my renko for GBPJPY using 12.5 point brick and with my monitor resolution, I use Fib Arch scale of 33 (of course this 'scale' matter could be debatable..lol).

In this picture example,

01. I put this 'fib arch' at first retrace after uptrend , put the 'center' of Fib Arch at low (point A) and 100% level at previous high.(Point B).

02. I put 'triangle' (red color) at point A, B, and C . The Point C is where 'price' previously enter to the Fib Arch circle at 200% level.

03. the triangle will give us its center at point D.

04. then using 'Equidistant Channel (EC)' tools with ray option active, I start to connecting point D to point A with 'source line' of this Equidistant Channel and
put its 'result line' at point B (light salmon)
05. I put second EC also with light salmon color from Point D to Point B as 'source line' and put the 'result line' at the bottom area of Fib Arch where I put
the vertical line (point E with aqua color) that overlay the Fib Arch circle at level 100% this vertical line will also cross the 200% level of Fib Arch circle.
so I put the 'result line' of second EC there.
06. By doing this, the first EC result line and the second EC result line will pin pointing 'where and when' the price will going out from the Fib Arch Circle.
(Point F).
07. That is the one way to 'working out' with Fib Arch and Contrarian Triangle. If you notice the third EC (Bold Yellow Color) that its Source Line connected from
Point C to Point A of the Contrarian Triangle, and its Result line put at cross between the 200% level of Fib Arch and vertical line of Point A. This line , or
should we called 'channel' . it will show you 'next' high and low... lol. that happened at point G and 'perhaps' at point H. Of course this is only the basic of FACT geometrical charting.

Hope it help

Attached Image (click to enlarge)
Click to Enlarge Name: FACT GBPJPY M2 RC 12.5p brick 2013_01_03 example.png Size: 411 KB
  • Kiads
    Joined May 2012
Quoting Kiads
07. That is the one way to 'working out' with Fib Arch and Contrarian Triangle. If you notice the third EC (Bold Yellow Color) that its Source Line connected from
Point C to Point A of the Contrarian Triangle, and its Result line put at cross between the 200% level of Fib Arch and vertical line of Point A. This line , or
should we called 'channel' . it will show you 'next' high and low... lol. that happened at point G and 'perhaps' at point H. Of course this is only the basic of FACT geometrical charting.

Attachment 1109165...
And Yes... she 'touching' at point H...lol

Attached Image (click to enlarge)
Click to Enlarge Name: FACT GBPJPY M2 RC 12.5p brick 2013_01_03 example_next_touch.png Size: 409 KB
Quoting Kiads
For geometrical charting using fibo arch and other object tools stuff and implemented to 'renko' (do you already try 'my renko' my friend ?).
I will 'show' you example of what is so called FACT (Fibonacci Arch Contrarian Triangle) is..
let we take GBPJPY for example..
...
...
A. This line , or
should we called 'channel' . it will show you 'next' high and low... lol. that happened at point G and 'perhaps' at point H. Of course this is only the basic of FACT geometrical charting.

Hope it help
Yes my friend, I have used your Rengo, It is the 'right' Version. Thank you. I was busy typing up several posts about Gann Grids on selym_co's thread. Hence my 'delay' in response this side.

Ok, I followed all you said and I can copy/do it all, but I do not understand what to use the Salmon EC's for. They appear to show the angle of the trends, but the up is predominantly 'straight up'/ In other words no down spots. I hope that the H mark IS the end of the downward retracement, otherwise I am going to have to cut my losses on my bad trade <Grin>.

Thank you for your explanation, I am going to do it on some other parts of the chart to see that I get it right a few times.

As far as using the scale of 33 for the FibArcs, I will use it the same since scale is different with Rengo than Candle Sticks anyway. Since you are familiar with this, I will use what you use.
Kiads my friend, this is insane.

I now fully understand what you have told me about FACT! This is a gift of note. I wish you and yours good fortune and I offer you my thanks. I must have done something right in a previous life to build up good karma to get your two gifts. The Rengo and How to use it.

And you say this is just the basic of FACT. I would very much like to learn more if you are willing to share your knowledge.

Our chart history differs a bit, but the basics remain the same. This means that the FACT 'prediction' or 'projection would probably be a better word, can be set up with the blocks ending at the centre of the circle. All the data thereafter comes after and the trade entry point starts just after (in this case) the price action leaves the right hand side of the 200% arc.

Ignore my question in the previous post about what the salmon EC's do. I missed point 6, but figured it out while re-doing the setup.

My version:-


Thank You!
<edit> What I did NOT put in the post was that this is a 300 pip up trade and a 190 pip down trade. </edit>
BlueMental & Kiads:

First off, thanks for what you've shared with us. Secondly, permit me to share with you the SynBar indicator that I ran across a few months ago while researching Range Bars. Presently I've put it on 15 minute charts and created the corresponding offline charts to trade the results. The attached RangeBarTime indicator illustrates the speed of bar creation as follows: Yellow=1 minute or less / Orange=5 minutes or less / DarkGray=more than 5 minutes. Hope you find one or both of these useful. Take care.

Steve
Attached Files
File Type: mq4 SynBar.mq4   6 KB | 83 downloads
File Type: mq4 RangeBarTime.mq4   3 KB | 78 downloads
  • Kiads
    Joined May 2012
Quoting BlueMental
Kiads my friend, this is insane.

I now fully understand what you have told me about FACT! This is a gift of note. I wish you and yours good fortune and I offer you my thanks. I must have done something right in a previous life to build up good karma to get your two gifts. The Rengo and How to use it.

And you say this is just the basic of FACT. I would very much like to learn more if you are willing to share your knowledge.

Our chart history differs a bit, but the basics remain the same. This means that the FACT 'prediction' or 'projection...
Yes, My Friend BlueMental, what I show you in FACT example is only the begining of the whole concept of FACT 'projection'. Actually the first EC and the second EC both in light salmon color is only one of the way to know where the price 'probably' will go outside the Fib Arch 200% circle level.

The 'real deal' was the third yellow EC line that taken from point C to point A in the previous FACT example, this is the 'real 'projection' and also this only 'halfway' of it, since the channel only 'projecting' the 'where' question and didn't completely answered 'where and when' question.

Now allow me to continue, but forgive me if I must put a lot of picture to show you step by step about it.

01. I will re-drawing again from first Fib Arch from previous example and I will reduce the level to only the main quarter percentages. like 25% , 50% etc.
I will not explained yet about the importance of this percentages ratio, later if we learn more further we will discuss about it.

02. Here we go at picture 01 same fib arch like previous example, but only one EC line (the third one) and I change the color so it similar to the fib arch color.
because we will put another fib arch and also another EC. As we see in this first EC line give us 'channel' of future 'range' of price movement. probability of
next high and next low that answered the 'where' question. but not answered the 'when' question.

Attached Image (click to enlarge)
Click to Enlarge Name: FACT GJ RC 12.5 20130104 picture 01 first FibArch.png Size: 245 KB


03. Now we will add the second Fib Arch at the same place just in reverse position with Gold color. So the first Fib Arch center at low, and this second Fib Arch
center at high. We will notice at this picture 02. that the position of price when entering 200% circle level of second Fib Arch should be different and this is
the fundamental of FACT system. and of course the second triangle will put at this position (yellow triangle without background). We notice the new 'center
of this yellow triangle, that will become our 'reference point' for next EC line.

Attached Image (click to enlarge)
Click to Enlarge Name: FACT GJ RC 12.5 20130104 picture 02 second FibArch.png Size: 309 KB


04. Next step is the answered of the 'when' question... lol.
As we already 'see it' first EC line (previously yellow, and now light green) show the 'probability line' of high and low of the next price movement. and now
the second EC line (yellow color) will show you 'when' the 'low' will touch the first EC. Just Connecting the 'center point of 2nd triangle (X) to
point A (center of first Fib Arch - the low price fib arch). with the EC source line. and put the EC result line at the cross between 200% circle level of
First Fib Arch and 200% circle level of Second Fib Arch. (marking with Z) and 'voila' the second EC result line will pointing to when the next low will
'show up' ... in the first EC line channel. (marking with LC - Low Cross, at previous example I mark it with H ?).

Attached Image (click to enlarge)
Click to Enlarge Name: FACT GJ RC 12.5 20130104 picture 03 when low channel.png Size: 323 KB


05. And now, the third EC line that will answer the 'when high' question. the third EC line with Aqua color.
for this EC line, we will connecting point Y of second triangle to point B (center of second Fib Arch) with source line of third EC, and lets put the result line at
point marking with X2 which is the cross of source line of second EC line ( the low pointer in yellow color) and the 200% circle level of second Fib Arch
(the high fib arch), and again.. now you will 'see' when 'high' probably happened and I marking it with HC ( High Cross).

Attached Image (click to enlarge)
Click to Enlarge Name: FACT GJ RC 12.5 20130104 picture 04 when high channel.png Size: 344 KB


06. Well, that's it one of the complete set of FACT, of course it will not always happened 'like that'. there will be 'several' variations according to the previous
market shape and conditions.. we will learning further about that, and also I should get some permission from my group for posting this system in public.
But I think this basic part is okey.. for them.. lol.

Ok then all my friends here, I hope you can understand my explanations and forgive me about my bad uneducated English language...
Hopefully it help you all more or less.,,
Happy trading and best regards.
  • Kiads
    Joined May 2012
Quoting SMScom
BlueMental & Kiads:

First off, thanks for what you've shared with us. Secondly, permit me to share with you the SynBar indicator that I ran across a few months ago while researching Range Bars. Presently I've put it on 15 minute charts and created the corresponding offline charts to trade the results. The attached RangeBarTime indicator illustrates the speed of bar creation as follows: Yellow=1 minute or less / Orange=5 minutes or less / DarkGray=more than 5 minutes. Hope you find one or both of these useful. Take care.

Steve
Hi My Friend Steve, nice to meet you and thank you for your help.
the SynBar (Synthetic Bar ?) is also price base chart builder and create emulating offline chart. for me I consider it as 'in between' standard renko and standard candlestick. It will be helpful for 'breakout lover' since it's still 'showing' sideways moment with more 'precise' range. in 'linear box shape'. the different between this one and standard renko maybe about the term of fixed size this SynBar has 'fixed' size in high/low and the renko (if wick activated) has 'fixed' size in open/close body.
also the RangeBarTime Indicator definitely useful for renko chart since it will 'represent' momentum of brick building in time. maybe we can try to create more colors to make it like 'heat map'. I wiil try it in my spare time..

Once again thank you... n best regards.
Quoting Kiads
Yes, My Friend BlueMental, what I show you in FACT example is only the begining of the whole concept of FACT 'projection'...
Great Stuff Kiads. What you are showing us is stuff that I have thought of (some parts at least) and explored as best I could, but this is light years ahead of where I have reached.

As far as the half. quarter, eigth, sixteenth etc. I have a reasonable understanding of it. The 'Halving the halves'. I actually was explaining a bit about it on selym_co's 'Circular Trend Wave' thread, with this post :-
http://www.forexfactory.com/showthre...21#post6327221

I actually get frustrated with what I call the 'metric mindset', where everything is based on 100's but in reality, when we make and build things, the simplest way of design and making is by halving the halves. That is how the Inch infrastructure is based. It is simple to comprehend how an angle was reached if shown on paper as (90/2)+(45/2)+(11.25/4*3) =75.9375°
The final number on a technical drawing (or design sketch) does not give the viewer the 'how we reached this angle', which is also relevant to other parts and concepts in the design. The metric mindset ends up with 'random numbers' all singular and 'unconnected' parts that do not make up a whole.

It is the basis for a lack of harmony of design, which flows into the disharmony of parts and the disharmony of the whole. It brings to mind the military rule of "No marching on any bridge" because the rhythmic 'counter-rhythm' will destroy the huge structure with a few hundred (or thousand) men. This intrinsic disharmony flows ever outward and creeps into the (if it did not actually already exist there to start with) mindset of the people using it. Like a virus it causes disharmony wherever it goes which later leads to collapse.

To me, I feel insulted when I see a machine that is built/designed 'backwards'. I think to myself. how can someone spend years to get a degree and then use it to design something that works against itself, against the tradesman that must maintain and constantly repair, it as if it were a weak boned child. The Metric Mindset.

I have explored other areas of my Rengo Charts, trying out different block heights and different scales, and I find that this pattern (the FACT pattern you show us) is not always easy to find. Obviously it is still very new to me and an untrained eye often can not see the elephant that is standing on his foot.

I find the scale issue in particular to be something of primary importance. It seems (I use the word because I do not have enough experience to know if it is true or false) that as the block height increases, so too must the scale. I am trying to find a testable/measurable method of calculating a scale ratio that 'fits' regardless of the block height. This so far is the only source for disharmony within the FACT geometry you have showed us.

Since the pattern does not fit every situation, I feel it is important that we do not have a scalar 'weak point',
What I am trying to say is easiest described in a hypothetical situation.
Assume I find a situation where the pattern fits and the beginning phases of the price leaving the 200% all 'fit' but as it goes forward, it misses the 'when' and also the 'where' on the primary EC. It could be because I used the wrong scale for the FibArcs, or it could be that my scale is 'correct' and the price action has deviated from the pattern to follow some other pattern unknown to me. This makes it difficult to find out the true source for my failed geometry. Is it a "I did something wrong, or did not see the elephant" or is this situation something that falls outside the given parameters of what 'this' version of FACT is capable of projecting.

I will now study what you have offered us and try to get it to sink into my brain as quickly as possible. I will do my best to lose my first 100 games as quickly as possible.

Thank You.
Quoting SMScom
BlueMental & Kiads:

First off, thanks for what you've shared with us...

Steve
Thank you Steve. I have downloaded the Indicators but have not yet had time to give them the attention they deserve. When I get a chance I will do so.
  • Kiads
    Joined May 2012
Hello All Friends,

Thank You for all PM that I received, mostly asking about renko chart builder program code..
please forgive me that I can't share it in public for some reason. You can always searching similar type of program code for that..,
I believe it will not so different, the point is not 'which tools you should use' but 'which tools you understand most' and it could be only 'single line in the sand'..

About all renko and Fib Arch stuff is only my 'side talk' with my friend BlueMental. This is not main 'topic' of this thread. The main topic of my friend BlueMental Thread here should be MaCD and any related calculations and probabilities to understand the averaging Convergence and Divergence of Price Movement.

So once again please forgive me, but if you interested about that stuffs in general term, feel free to ask here, and I believe that my friend BlueMental has 'open wide' heart and mind to welcome your questions
Happy Trading and Wish You All The Best
  • Kiads
    Joined May 2012
Quoting BlueMental
I find the scale issue in particular to be something of primary importance. It seems (I use the word because I do not have enough experience to know if it is true or false) that as the block height increases, so too must the scale. I am trying to find a testable/measurable method of calculating a scale ratio that 'fits' regardless of the block height. This so far is the only source for disharmony within the FACT geometry you have showed us.

Since the pattern does not fit every situation, I feel it is important that we do not have a scalar 'weak...
Hi, Sir...

About this 'scale' matter, in my personal experience it won't fit with standard candlestick at all since in every candle in any time frame, the size was unpredictable.

Well, personally I found my 'own calculation' to handle this 'scale' matter and one of the 'key' is using the price base chart to take the advantage of their constant candle size as building block of price movement.

Let's thinking little bit out of the box.. lol. The question of 'how big is our playing field' ? In soccer game of course you can answered that easily, but in our trading game ? well, for me our field size was 1 lot standard contract of $100.000 or 10.000 pips. That is our 'field range' in my point of view.

So, what is the relation about this 10.000 pips with the 'scale' ? then this is all about the 'resolution' . My graphic card resolution was 1920 x 1080 per monitor or in 'ratio' was 16:9 . In this 'funny' calculation then 10.000 pips with that ratio become 10.000 : 5625 but if we talk about circle than we need just half of it (you are so true about 'halving the halves'...) so actually our 'circle' ratio was 5000 : 5625 and in reverse we get constant number 5625/5000 = 1.125.

In my previous example about FACT, I give my renko brick size = 12.5 point / brick. actually this is 'halving the halves' process from 10.000 pips until smallest 'range' size that still convenience to trade for GBPJPY that hv spread range about 5 to 8 pip.

Since my renko chart was 'median axis' then we should double the size so 12.5 x 2 = 25 point.
Multiple this 25 with our constant number of 1.125 = 28.125 this is actually our 'scale'.
but I added that 25 point with 5 point average spread = 30 point x 1.125 = 33.75 and rounded down to become 33. and this is the Fib Arch scale for renko
brick size 12.5 point. in that FACT example.

Anyway this is only 'general calculation' that I use in my personal point of view about the 'scale' in MT4.
may not definitely right but so far I'am convenience with it.

Now, about the 'field'... lol.

Actually, we can 'select' our field according to 'last condition' so, for our 'brick' as a building block of price movement can be very flexible as needed.

let's take an example of your favorite pair GBPJPY, and we will 'select' our 'field range' from standard candlestick chart TF H1 in example picture 01 bellow.

Attached Image (click to enlarge)
Click to Enlarge Name: Field calculation example - Pict01.png Size: 145 KB


the 'range' was 663.8 point and let's die hard 'halving it' until 32 parts with size of 20.74375 point this is our building block 'brick' of renko.

so, set the renko starting point for GBPJPY from 135.865 and set the renko size with 20.74375 block size.. lol.

and for the 'scale' of Fib Arch, we will use that 'funny' calculation above, that 20.74375 x 2 x 1.125 = 46.6734375 or just 46.67 as our scale for this renko chart size Fib Arch.

I put Fib Arch center at low 135.865 and put the 100% level straight up at 137.524 (25% of the range). (aqua Fib Arch)
and put dotted horiz line at 200% level fib arch and dotted vertical line at right side of Fib Arch also at 200% level circle, and then put diagonal up trend line (Solid Aqua color). so, it is look like 45 degree for me... lol.
here we go similar range of above H1 standard chart in renko version..at picture 02.

Attached Image (click to enlarge)
Click to Enlarge Name: Field calculation example - Pict02 renko.png Size: 291 KB



Changing the zoom ratio will change the shape of Fib Arch, but will not change her 'line' relation with 'candle' in the next picture 03, I Zoom in the chart with same level as standard candlestick chart at example picture-01, and add dotted horizontal and vertical line at 100% level circle of fib arch.. and add Mr. Andrew 'pitchfork' at cross point with same result as ordinary diagonal trendlines pointing 45 degree in 'calculation' not in 'visual' convenience..

Attached Image (click to enlarge)
Click to Enlarge Name: Field calculation example - Pict03 renko mr andrew pitchfork.png Size: 276 KB


With the example above, I hope we can simply have 'funny calculation formula' for dealing with 'scale' in MT4..
hope it help
Wish You All The Best
T. Kiads
  • Kiads
    Joined May 2012
Hi Again, one of our friend here PM me and asking 'is there any pattern in price base chart like renko that similar to standard candlestick chart ?'

Yes, of course and the reason why it called 'Simplified Median Axis Renko Trading' is for the purpose to simplify the problem of memorizing that hundreds candle configuration in standard candlestick chart.

As you know, to become 'master' in standard candlestick chart at least you must memorize and understand 'whats going on behind that pattern' for says 25 to 50 candles configuration, and according to Japanese Candlestick master there approximately more than 400 pattern/configuration known until today..lol.

For example..this popular 'Doji' what kind of Doji ? at where this doji 'show up' is there any similar doji before etc.etc.. or uptrend configuration like 'three white soldiers' how come if the 'fourth' soldier show up next.. ? and the 'fifth' and so on.. then this configuration become 'white soldiers parade' and you will 'in doubt' waiting for 'three black crow' to 'appear' after that parade.. lol.

In 'Median Axis Renko' the basic was emulating 'fractal' for any turning point. As we know the simplest fractal consist of 3 candles, and normal fractal for 5 candles as pattern of reversal just like our 'hand' shape so sometime 'fractal' also called 'Buddha Palm'.

Attached Image (click to enlarge)
Click to Enlarge Name: SMART Fractal example.png Size: 118 KB



Hope it helps..
T.Kiads
Quoting Kiads
Hello All Friends,

...
About all renko and Fib Arch stuff is only my 'side talk' with my friend BlueMental. This is not main 'topic' of this thread. The main topic of my friend BlueMental Thread here should be MaCD and any related calculations and probabilities to understand the averaging Convergence and Divergence of Price Movement.
...
Fundamentals influence the price action. The public perception of 'We are in a recession" or "We are in a Boom" is a 'readable' or 'measurable' reflection of how and what the core movement of the fundamentals are at any given point in time.

Indicators (as you say, a line drawn in the sand is an indicator, as is that 'feeling' that business is bad/good is an indicator) are just another way of 'seeing' part of the whole.

To me, there is actually no difference between MacD, Renko, Kagi (assuming I understood it enough to use), fundamentals or the sudden price rise at my local store. All of these things are relevant to the whole and all in their way are 'broadcasters' of the actual patterns of life and energy. The only valid differences between any and all these things/ideas/viewpoints, is how well I as an individual understand them enough to use for better trading (and living, which are in the end just different sides of the same coin).

So, though this might seem somewhat strange to any who think strictly along lateral viewpoints, to me (There are many reasons that 'mental' is part of both my user name and my given name) I see connections in discussing how to make a pizza that is relevant to better living/trading.

In a way the Mayan phrase "In Lakesh" is a way of trying to say what can not be said. It means in a 'simple' sense that We Are One. Like all fingers but of the same hand. In a deeper sense, All Is One. From your house, to the sand on the beach to the radio and light waves. The pattern in all things is one and the same. MacD, Renko, Stochastics, Random guessing.

You might enjoy another way of saying it which I wrote here :-
http://www.google.co.za/url?sa=t&rct...,d.d2k&cad=rja
Quoting Kiads
Hi, Sir...
I am not a Sir, I have never reached Knighthood. I doubt (if ever some queen or king decided that I should be knighted) that I would agree to stand on that pedestal.

Quote
About this 'scale' matter...
I followed how you calculated it etc. but that is not what I mean when I say the scale in particular is important. The picture I posted earlier was done with Renko on data from MBT's mt4 demo server. I decided to download the M1 history for more exploration. Some strange 'bug' happened and I ended up with 2006 to December 2012, then a gap (no bars) til January 2013.

This led me to use another Mt4 brokers data that I have which is FXCM. My m1 data in with that broker runs from 1999 till now.

The geometry you showed me, did not work on the FXCM 'correctly' because of the varience in prices, the main EC, along with the triangle are at a totally different angle and the channel, (Yellow EC) does not touch the high OR the low as it did with your chart and my MBT chart.

There is also a slight but noticible difference between my MBT chart and your ones explaining FACT.

This led me to wondering... Does pattern vary, or is it the 'noise' created by different broker (or areas of the world) that causes these 'aberrations' in the data. I think that each 'local' region/broker/group trading/viewing/participating with 'local' data is different from other areas and regions and that is part of a bigger pattern.

So, in having this different data, I found that using the scale of 33, which 'almost' fitted perfectly with MNT data, did not fit at all well with FXCM data.



Using the first 'retrace', which as you can see in the FXCM data it is actually a Higher Low followed by the second Higher Low. In your data (and MBT) it was a Lower Low.



While the 'pointer' EC's do show where price will leave the circle, the 'main EC (Supposed to be Yellow) is not the 'right' size or angle on either picture.

I did not do the other way round FibArc and Hi/Lo pointers on these pics (for clarity and more truthfully because I am feeling lazy), but they do not point correctly. (I did them before).

So this brings to mind several points of interest.

My primary issue is finding the right scale that fits with the pattern, NOT how many pips of price movement happens or does not happen on my screen. Yes, I obviously would prefer precise projections that can get me 1000 pip minimum risk projections, and if I can find a scale that DOES fit with the pattern and can and does do it consistently, then obviously I will use it. But the other issue is the variances in data. These differences as are clearly visible if you compare your chart pictures with mine, are not noticeable at all on a Candlestick chart. They stick out like a sore thumb on the Renko chart though.

Is there any 'underhanded price alterations' going on? I think the answer is no, not at all. It is that one broker is ecn which is driven by Banks and large institutions trades, while the other is 'small fish' traders trading amongst themselves, with 'some' big fish that pop in for a snack every now and then.

Since MBT is my live account broker, obviously it suits me to find the right scale that works with their data (If I can solve the missing parts bit) but it still makes one think....

The pattern fits everything and everyone. I seek the 'global' pattern as opposed to the 'local' one.
  • Kiads
    Joined May 2012
Quoting BlueMental
The geometry you showed me, did not work on the FXCM 'correctly' because of the varience in prices, the main EC, along with the triangle are at a totally different angle and the channel, (Yellow EC) does not touch the high OR the low as it did with your chart and my MBT chart.

There is also a slight but noticible difference between my MBT chart and your ones explaining FACT.

This led me to wondering... Does pattern vary, or is it the 'noise' created by different broker (or areas of the world) that causes these 'aberrations' in the data. I...
Hi, my friend
Maybe you can check first, in standard candlestick chart TF M1 for both broker FXCM and MBT at 'that different high/low time' so you can 'assure' that the difference came from the source HST files.

in the 'builder' indicator, try to use nearest starting point from that area of 'differences' occur. let say if the FXCM has 'higher' price at same time with MBT than use that FXCM price as starting price for both brokers.. and 'see' if builder give similar 'slicing' after that point..

But I'm so sure that 'understanding' will lead us to make anything in harmony regardless 'what tools we use'...
keep exploring my friend
T. Kiads
Quoting Kiads
Hi Again, one of our friend here PM me and asking 'is there any pattern in price base chart like renko that similar to standard candlestick chart ?'

Yes, of course and the reason why it called 'Simplified Median Axis Renko Trading' is for the purpose to simplify the problem of memorizing that hundreds candle configuration in standard candlestick chart.

As you know, to become 'master' in standard candlestick.....
I only know some of the basic patterns, I do not even bother with the names (names of things has never been one of my strong points), like the pin, hanged man, morning star, or the one selym_co posted recently on his thread, which I called Bear have baby in reverse (No idea what it is ACTUALLY called).

The point is that to me, all those doji's and other 'patterns' are not really very useful. They have three thousand six hundred and eighty two point zero three five nine (on average - plus minus) if/then issues that go with them. The stochastics being in oversell and and and...

The more 'reliable' ones, like the head and shoulders or the (I call it sunken head and shoulders) on your picture, are more useful to me, but I do not base opening or closing a position on them. I just do not have enough time or energy to 'store' all those things in my head. I look for simple stuff.

For example, ignoring that it is bouncing off a sweetspot .25, and ignoring that the second low (which equals all the following ones) is a Highe Low than the first 1 Block 'dip', and also ignoring that the price breaks above the HH and reaches the next .25 sweet spot.....
Those are all easy to see in a chart that holds them as history. In the live edge of the screen, they are still there as and when they form, but not as visible.

What to me seems most important of all on that picture are the wicks, on the first up part before the 1st '1 block dip' there are 3 wicks. this shows that the Bear is getting heavy and the Bulls can't push up as much as they would like to.

Then the 2 wicks (both the up Block and down) show a 'tug of war' which = doji.

3,4,5 and 6 I see as (depending on which is the ]mother]) Bear having baby in reverse. The wicks of the second block in each case are higher than the 'baby' and the 'mother' drops below. In other words the High and Low are both Higher and Lower than the baby.

2,5,6 and 7, although the wixks are higher (or lower) they are very close to equal. Meaning they are hitting a wall. Testing, but not breaking through.

A general view of the wicks show that the downs have more wicks above them than the ups. So the Bulls are pushing them more than they are pushing the bulls.

Wicks with Renko (as is Renko itself) is still pretty new to me, but that is what I perceive at the moment.

This brings to mind that the Renko blocks should not be TOO small in height, otherwise they just look like candlesticks. That is what makes the wick have more meaning. This is not something that I ever considered until your mention of wicks.

Thank you.
I wonder about the historical data myself too. I've downloaded daily data from my charts and listed them in a spreadsheet and have found many days where there is no data. I was doing this to determine the silver gold ratio. On some days there would be a silver price and no gold price and the reverse on other days. So, the market was open but data was missing for some reason. The best I could do to correct the missing data was to use the previous days closing price.

You should check your data for missing days. That can change the slope of lines, etc.
  • Kiads
    Joined May 2012
Quoting BlackStack
I wonder about the historical data myself too. I've downloaded daily data from my charts and listed them in a spreadsheet and have found many days where there is no data. I was doing this to determine the silver gold ratio. On some days there would be a silver price and no gold price and the reverse on other days. So, the market was open but data was missing for some reason. The best I could do to correct the missing data was to use the previous days closing price.

You should check your data for missing days. That can change the slope...
Yes, my Friend.., that's the common problem in MetaTrader Platform. If You download History data via History Center Tools then what you have is 'history data' from metaquotes not from your broker history data.
Day by day history data came from your broker and sometime it also 'mismatch' fot some reasons like 'server connection' bla..bla. bla. Maybe better if you ask your broker CS to send you History data files. Sometime right click on chart and refresh it will help too..
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