I am a futures trader and have been looking to venture into forex. I've read most of the C4 thread with a special interest in the use of renko and you guys are definitely on the right track. I just wanted to offer a thought that I hope can be helpful. It seems that you have maximized the utility of indicators within this system, and any more time spent tweaking them or looking for new ones would probably be better spent elsewhere--especially when it comes to renko.
Your system relies heavily on a high hit rate to make up for the R:R. Looking at the 4 pairs and the overall momentum of the markets (not the momentum indicator) is a great way to increase the hit rate. The focus should now be on finding high probability setups or patterns within the blocks that will increase your hit rate even more. This is true price action. I took Edgetrader's last chart and marked it to show some examples.
Long story short: indicators will not get you to where you want to go and in my opinion, the day you get rid of them is the day your trading takes off (that's just opinion however as I know many like to use them). Your time and community effort would be best spent in trying to achieve the high hit rate by looking at price action alone--or more specifically how and WHY the renko blocks form the way they do. Study and track these formations with statistics/probabilities and you will be successful. That's where the efforts of a community could be put to good use. The devil is now in the details and hard work really will pay off--literally. Keep up the good work. Hope this helps.
(I was going to post this in the other Nitro thread but thought it may be more appropriate here, though it would certainly apply there as well.)
Your system relies heavily on a high hit rate to make up for the R:R. Looking at the 4 pairs and the overall momentum of the markets (not the momentum indicator) is a great way to increase the hit rate. The focus should now be on finding high probability setups or patterns within the blocks that will increase your hit rate even more. This is true price action. I took Edgetrader's last chart and marked it to show some examples.
Long story short: indicators will not get you to where you want to go and in my opinion, the day you get rid of them is the day your trading takes off (that's just opinion however as I know many like to use them). Your time and community effort would be best spent in trying to achieve the high hit rate by looking at price action alone--or more specifically how and WHY the renko blocks form the way they do. Study and track these formations with statistics/probabilities and you will be successful. That's where the efforts of a community could be put to good use. The devil is now in the details and hard work really will pay off--literally. Keep up the good work. Hope this helps.
(I was going to post this in the other Nitro thread but thought it may be more appropriate here, though it would certainly apply there as well.)