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Simple Renko System

Put it manually. Here the images of the configuration. DO NOT FORGET THE WINDOW BOX. IF YOU PUT IN 0 I will depart El Grafico, BUT NOT BECAUSE VE LEVELS ARE NOT AGREE, IF YOU PUT IN 1 SALE IN THE FIRST WINDOW, if you put two in the second window and so on.
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Hi ES,

I am new to this thread... Can you point me in a direction as to how to build the offline Renko charts...?

Thanks,

JM
Quoting jmwilk
Hi ES,

I am new to this thread... Can you point me in a direction as to how to build the offline Renko charts...?

Thanks,

JM
Read First post
Thanks,

When my offline chart was brought up, it was defaulting to bar chart instead of candle... That took care of the problem...

JM
Hi Es;
Please, what is the setting for the indicator SIXTHS SCREEN 50 or 120 ?
Regards
Attached Image
Quoting chaveznqoos
Hi Es;
Please, what is the setting for the indicator SIXTHS SCREEN 50 or 120 ?
Regards
I left it at 120. It really does not seem to make much difference since renko is not time based bars
Thanks ES;
But, I think there is much difference, the first image is 50 (buy signal) and the second with 120 (no signal)
Regards.
Attached Images (click to enlarge)
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Quoting chaveznqoos
Thanks ES;
But, I think there is much difference, the first image is 50 (buy signal) and the second with 120 (no signal)
Regards.
It depends on how long back you want to look to evaluate oversold/overbought conditions etc..

Remember, sixth's is just a visible stochastics.

So if you move it from 50 to 120 or vice versa, you are just saying you want to evaluate less/more bars for the evaluation of the trend.

I use 260 on the 4HR charts. I know, a lot, but it works great for me and keeps me out of really bad moves. 260 bars = 43.3 days or 2 months

Usually, most trends that don't reverse last max 6 weeks.

120 bars = 20 days = or 1 month. I see too many trends for 1 month that will cost you.

I would use what you feel is good and safe.
We are our own best indicator.
Thanks bluemele
ES Trader,

I was thinking exactly the same system you have got here. but i have a question.
i noticed that you are using a 50 pip renko block, i think that might be too big for you are starting to trade at about a 100 pip lose already.

just a thought

JTH
Quoting chaveznqoos
Thanks ES;
But, I think there is much difference, the first image is 50 (buy signal) and the second with 120 (no signal)
Regards.

Thanks for posting the system. What have your results been like?
Hi;
this is my first entry, and only demo testing this system so far are 141 pips in profit in profit.
Luck
Quoting FXtraderr
Thanks for posting the system. What have your results been like?
Here is my results from 8/30 to 9/1.
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Quoting ES Trader
Here is my results from 8/30 to 9/1.
Pretty decent MM I'd say!

Can you post your set file for the Trade Manager?

cheers
Quoting ES Trader
Here is my results from 8/30 to 9/1.
Hi ES Trader, i am curious are you particular on the pairs you trade?
Quoting pcguy007
Hi ES Trader, i am curious are you particular on the pairs you trade?
No
Quoting goldsurfer
Pretty decent MM I'd say!

Can you post your set file for the Trade Manager?

cheers
Not sure what you mean?
Your using MPTM ea to manage your trades, yes?
I see FerruFX looking at this thread.... perhaps he is thinking of making it into an EA....
  • FerruFx
    Joined May 2007
Quoting Invisible
I see FerruFX looking at this thread.... perhaps he is thinking of making it into an EA....
Arghhh ... I am not invisible

Sorry but actually I am very busy with my clients ... 1 project of 3 is specially designed for Renko charts !

BTW, renko charting is certainly the most straight way to trade. I would suggest to beginners to use renko as it avoid most of the "noise" and can be used with any standard and custom indicators.

All the best ES with your thread ...

FerruFx
MT4 EAs/Indicators/Alerts coder
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