Forex Factory (https://www.forexfactory.com/forum.php)
-   Trading Systems (https://www.forexfactory.com/forumdisplay.php?f=71)
-   -   More simple is impossible (https://www.forexfactory.com/showthread.php?t=513860)

kette Nov 10, 2018 8:55am | Post# 10021

Hi guys, here a chart from yesterday, i think is intresting for the Head & Shoulders pattern, that is not so usual with renko charts. The correct entry for this pattern is at the breakout of the neck line Stop Loss is over the shoulder and the Tp is egual to the distance from the Head and the Neckline. In this case 28 / 30 pips. I was no confident with the BRN and a Pivot (not shown) on the way, so i made two trade for a total of 19 pips. At the end it made something more 30 pips... have a nice week end Cheers {image}
Hello,
great system, what time frame you can recommend

matmomo Nov 10, 2018 10:58am | Post# 10022

{quote} Hello, great system, what time frame you can recommend
Hi Kette,

this system is based on Renko charts.
Renko (a Japanese word that mean Bricks) is based on bricks with a prefixed value (in pips) and not as candlestick chart that shows the price movement over a period of time.

I suggest you to start from the beginning of this thread with posts by Jaquemate.

Enjoy,
cheers

J1mm Nov 10, 2018 2:29pm | Post# 10023

I must be retarded but I'm not able to setup the Renko Charts... It only shows just a couple of bars... :/

matmomo Nov 10, 2018 2:39pm | Post# 10024

I must be retarded but I'm not able to setup the Renko Charts... It only shows just a couple of bars... :/
Hi J1mm,
Please let me know what renko creator you use.

J1mm Nov 10, 2018 2:59pm | Post# 10025

Hello boss,

I'm using RenkoLiveChart v.3.4, It correctly attaches to chart, however, when I go to offline charts I cannot see Renko Blocks, I also tried yours, It shows Renko Block but just small portion, seems is not loading history.

Maybe because markets are closed? don't know.

matmomo Nov 10, 2018 3:08pm | Post# 10026

Hello boss, I'm using RenkoLiveChart v.3.4, It correctly attaches to chart, however, when I go to offline charts I cannot see Renko Blocks, I also tried yours, It shows Renko Block but just small portion, seems is not loading history. Maybe because markets are closed? don't know.
We'll do so,
Now i can't but tomorrow (in next 12 hrs) i'll post some screenshots e we'll try to solve the problem


J1mm Nov 10, 2018 3:19pm | Post# 10027

{quote} We'll do so, Now i can't but tomorrow (in next 12 hrs) i'll post some screenshots e we'll try to solve the problem
Also, wanted to ask you question...

I guess using Renko instead of normal candles requires a lot of screentime, right? I mean, is not like you are trading H1 candles, so you can be checking for a setup each hour, with Renko you can miss the setup in a matter of minutes, am I wrong?

matmomo Nov 11, 2018 1:46am | Post# 10028

Hello boss, I'm using RenkoLiveChart v.3.4, It correctly attaches to chart, however, when I go to offline charts I cannot see Renko Blocks, I also tried yours, It shows Renko Block but just small portion, seems is not loading history. Maybe because markets are closed? don't know.
Hi J1mm,
i'm not at pc for the screenshots,
but at this link you'll find all help to set up your renko charts:
https://www.forexfactory.com/showthread.php?t=684131

Let me know

Cheers

matmomo Nov 11, 2018 1:47am | Post# 10029

{quote} Also, wanted to ask you question... I guess using Renko instead of normal candles requires a lot of screentime, right? I mean, is not like you are trading H1 candles, so you can be checking for a setup each hour, with Renko you can miss the setup in a matter of minutes, am I wrong?
Sorry but i don't understand...

handy148 Nov 11, 2018 6:48am | Post# 10030

@J1mm - if I understand the question correctly the answer is make the brick size larger.

dee50 Nov 11, 2018 7:35am | Post# 10031

Hello boss, I'm using RenkoLiveChart v.3.4, It correctly attaches to chart, however, when I go to offline charts I cannot see Renko Blocks, I also tried yours, It shows Renko Block but just small portion, seems is not loading history. Maybe because markets are closed? don't know.
Adjust the Renko size according to the brokers digits, eg. I use Pepperstone and for a 5 pip brick/block/bar I have to put size as 50, with another broker I had to put 500.
Use a more up to date renko generator. Renkolivechart v.3.4 is old old old, you clearly have not read much of the thread yet! This E.A will not update the chart when the market is closed. Use this generator like Matmomo suggested. https://www.forexfactory.com/showthread.php?t=684131 it is the most recent and free generator and works perfectly.

I guess using Renko instead of normal candles requires a lot of screentime, right? I mean, is not like you are trading H1 candles, so you can be checking for a setup each hour, with Renko you can miss the setup in a matter of minutes, am I wrong?

Wrong! The price is exactly the same at the same time on a renko chart as it is on a 1hr chart. If you compare a 5min chart with a 1hr chart you can miss an entry by a couple of minutes also! Renko bars show swing points and certain price patterns much more clearly, if you have learnt to recognize those patterns you can simply set an audble alert at the level that that pattern triggers an entry or you can just check once an hour. Try it put up a 1hr chart beside a renko chart, there are examples of a setup https://www.forexfactory.com/showthr...3#post11643663, then change the renko bar size and compare them with the 1hr chart.

dee50 Nov 11, 2018 7:50am | Post# 10032

2 Attachment(s)
"Focus On Catching These Trades First" + "Find Your A+ Trades"
These are two lessons from Lance Beggs on his YTC Trading Newsletter.
Why not keep it really simple by being "The Master of 1 Trade" rather than going broke by being "The master of None"

"There are some trade ideas you look at with hindsight which are quite complex and which may
have been difficult to execute.
And there are others which jump out at you as being really simple."

Open and read in the order as listed

Enjoy.
Focus On Catching These Trades First.pdf
Find your A+ trades.pdf

J1mm Nov 11, 2018 2:27pm | Post# 10033

Everything setup, worker like a charm I guess for Forex best is 5 brick size as Jaquemate had it, right?

Thanks guys!

I guess the "master" TF doesn't matter right? So I could have my H1 chart linked with my 5 brick renkos?

slash89 Nov 11, 2018 2:34pm | Post# 10034

Hey,
thank You dee50, we have got a lot of good instructions how to start trading.
Thanks man.

slash89 Nov 13, 2018 10:14am | Post# 10035

1 Attachment(s)
Hey,
here my 4 fast trades, first trade shouldn't take - too close 11350,00 I think, the rest closed too fast....
The best
Click to Enlarge

Name: entries.png
Size: 36 KB

RisingSun Nov 13, 2018 2:42pm | Post# 10036

1 Attachment(s)
Hi all,
Try this indicator. See if matches with your observation of price action. Just an additional helper.
Cheers,
RS
RenkoStreet_Trend.ex4

slash89 Nov 15, 2018 4:09am | Post# 10037

1 Attachment(s)
Hey,
only a moment at computer and fast 1 trade -10 pips. I have no too much time for trading unfortunately...but I do what I can .
The best and good day
Click to Enlarge

Name: dax 5.png
Size: 44 KB

RisingSun Nov 15, 2018 2:49pm | Post# 10038

2 Attachment(s)
EURUSD
Click to Enlarge

Name: Screenshot_437.png
Size: 88 KB! Renko.tpl

RisingSun Nov 16, 2018 8:36am | Post# 10039

1 Attachment(s)
GER30
Click to Enlarge

Name: Screenshot_438.png
Size: 52 KB

slash89 Nov 16, 2018 9:49am | Post# 10040

1 Attachment(s)
Hi,
break at work...and 2 trades - 11 and 13 pips
Green for You all!
Back to work...
Click to Enlarge

Name: dax 1.png
Size: 28 KB


© Forex Factory