MTF Stochastics into MTF Stoch Histogram 8 replies
MTF Trix Meter 1.1d help! 0 replies
5 digits fro trix and mtf trix 2 replies
Anyone heard of the TRIX indicator ? 4 replies
Trix indicator 2 replies
DislikedThat is an interesting use of ATR to get stops and targets, Indrek. What criteria did you use to close the EURUSD trade once you decided it was going the wrong way?Ignored
DislikedWell today was almost a non event. I could not trade for interuptions all day!
My trading day was nearly over (18:00) CET, when I recognized the chance of a small C wave trade.
In terms of the guidelines of this thread I jumped the gun, not waiting for the 5 Min Trix to cross.
Even so I would have been better to wait until the PA pulled back for the minor 2 Wave of the C wave.
Also if it had been earlier in the day I would have hung onto the trade a little longer. But I did not want what I knew was going to be my only trade going wrong.
Result...Ignored
DislikedHi Indrek,
The answer is very simple.
If we use the chart just posted:-
Totally ignore the relationship of the Renko to the Candles.
Just be interested in the last minor pivot on both methods.
On my posted chart the last minor pivot was at 17:25 CET according to the candles.
Although they will not match now, at that time the Renko and the Candles made their respective lows at the same time.
So once a new candle rally is in place we can then use the Renko to keep us in this move cutting out the chance of a whipsaw. Just as you would...Ignored
DislikedOne further thought.
If you count the Renko bars in the last rally on my chart you will see that they match the true price movement. Renko = 4 pips per brick.
Anthony
GlanfxIgnored
DislikedI do not have access to "real" Renko charts.
But surely when you place the real Renko and candles on the same window they also can not appear to be in the same time scale? Or maybe you can as they are not on the same chart scale. In other words "stretch" the Renkos to fit the pivots of the candles.
If I were to go back, as I have done, over a period of time with many rallys and falls in the price action, these pivots would all appear in the same sequence. That is both the Renko and candles. But not in the same time time scale.
If you get...Ignored
DislikedOK, First, thank you for the PM. I will act upon it for my own interest.
Not much chance of dispute here. Only want to open up as much information as possible for the benefit of all.
I can of course see the difference in our two charts. However, I think that most of the difference is in the brick size.
I am no computer wiz, but I have put together your chart and mine but with a 2 pip brick. They now look much closer in form.
I believe that the starting time for a Renko chart detrmines the pattern to some extent. If we take that and the difference...Ignored