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js497 Apr 19, 2019 2:13pm | Post# 81

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@bamboopips
AD & OBV like this one ?
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bamboopips Apr 19, 2019 2:49pm | Post# 82

@bamboopips AD & OBV like this one ? {image}
Yes, just like that!
You will notice that sometimes only the OBV show the divergence and its enough to a good trade, and some times only A/D show the divergence and its also good for a trade.

But when the two agree its a really good setup.

note: The only difference between the 2 indicators is that A/D account for the candle lengh, and OBV only if the Candle is positive or negative. So if you use a renko chart where the candles always have the same lengh, you will notice that the two indicators show exactly the same.

Merka Apr 19, 2019 2:58pm | Post# 83

{quote} Yes, just like that! You will notice that sometimes only the OBV show the divergence and its enough to a good trade, and some times only A/D show the divergence and its also good for a trade. But when the two agree its a really good setup. note: The only difference between the 2 indicators is that A/D account for the candle lengh, and OBV only if the Candle is positive or negative. So if you use a renko chart where the candles always have the same lengh, you will notice that the two indicators show exactly the same.
So we need a good Renko generator for MT5.
Who is the Renko expert that can suggest a free indicator for MT5 Renko generator?
Thanks

js497 Apr 19, 2019 3:31pm | Post# 84

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{quote} So if you use a renko chart where the candles always have the same lengh, you will notice that the two indicators show exactly the same.
Almost yes
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Mr.Trader123 Apr 19, 2019 4:40pm | Post# 85

{quote} Almost yes {image}
If you use renko chart you dont need your A/D in you chart because the will be exactly the same

bamboopips Apr 19, 2019 7:31pm | Post# 86

Here i send the Trades there where possible today (18.04.19) with my Broker (JFD Brokers) {image} {image} {image} {image}
Hi Mt.Trader123!
What you are using to decide the take profit?
Just a fix Risk:Reward?

Mr.Trader123 Apr 19, 2019 8:42pm | Post# 87

{quote} Hi Mt.Trader123! What you are using to decide the take profit? Just a fix Risk:Reward?
Right now just a normal fix risk:Reward but with two take profits.

but with 3 take profits 1:1 30% out 1:2 50% out and the rest 20% i let it run with tiny money mangement

heispark Apr 20, 2019 3:10am | Post# 88

Dear, Bamboopips
Thank you very much sharing your system. It's one of the simplest systems I've ever seen......
It looks good, feels good.....
Thanks,

heispark Apr 20, 2019 3:19am | Post# 89

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By the way, if price didn't penetrate EMAs but OVB DID penetrate EMAs, do you also take it a valid divergence signal?
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Thanks,

aid171 Apr 20, 2019 5:12am | Post# 90

Can you share the template with us?

bamboopips Apr 20, 2019 5:58am | Post# 91

By the way, if price didn't penetrate EMAs but OVB DID penetrate EMAs, do you also take it a valid divergence signal? {image} Thanks,
Hi!
Thanks for the reply.
In reallity this kind of signal is what someone suggest some post ago as a hidden divergence, but as I see its not a so good signal, because indicate that the volume in the retrace was big. In this example it work out, but often it will not. And with the dashboard create by Crodzila you will get many regular signals a week and can even select the best ones according to market structure.
Good trades!

zorro4e Apr 20, 2019 8:53am | Post# 92

Thank u for this .. really smart and great way to trade
i want ask u can use it on phone without hekin candle .. ?
how can i add it on mt5 app on phone

thanks

chaveznqoos Apr 20, 2019 12:05pm | Post# 93

{quote} Hi! Thanks for the reply. In reallity this kind of signal is what someone suggest some post ago as a hidden divergence, but as I see its not a so good signal, because indicate that the volume in the retrace was big. In this example it work out, but often it will not. And with the dashboard create by Crodzila you will get many regular signals a week and can even select the best ones according to market structure. Good trades!
Hi bamboopips;

What is your block size for your Renko charts?

Regards

bamboopips Apr 20, 2019 12:41pm | Post# 94

Thank u for this .. really smart and great way to trade i want ask u can use it on phone without hekin candle .. ? how can i add it on mt5 app on phone thanks
Thanks!
I use the template in my cell using MT4 and i think its the same to MT5.
Just add the OBV indicator and the EMA's to price and to OBV window.
Should work!

bamboopips Apr 20, 2019 12:43pm | Post# 95

Can you share the template with us?
It's already in the first post!

bamboopips Apr 20, 2019 12:49pm | Post# 96

{quote} Hi bamboopips; What is your block size for your Renko charts? Regards
You can use any size you want that the logic will still be the same.
In Brazilian index that move from 5 to 5 points I use 10, 20 and a 30 renko charts to look for signals, but the 10 its very hard to take all signals and I use more to monitor the health and force of the moves. The other two its easier to spot the signals.
The smaller the size you use in renko will give more signals a day, but more weak signals and the bigger the renko value you will get less signal but more stronger one.
So you have to adapt to the instrument you will use.

Mr.Trader123 Apr 20, 2019 1:14pm | Post# 97

I trade renko and range bars now for 3 year a little tip how you get in every chart the same renko size.

Because the problem is that people changing from on renkosize to the other to get a signal.

for me to get the right Volatilitšt renko is.
You take the Daily ATR from 22 divide that by 5 now you get a renk size which is 20% of the ATR and then i divide that size again by 5.

Why i divide by 5 becausei use a rangebreak system where i look at the first 5 renkos.

Thats how i use the renko but there will be more ways.

zorro4e Apr 20, 2019 2:29pm | Post# 98

Thank u very much with reply ... so because i want understand good .. add 3,21,50 EMA in chart and OBV .. and hide line of OBV ... right ??

zorro4e Apr 20, 2019 2:33pm | Post# 99

And EMA this mean moving average Expedition .. right

bamboopips Apr 21, 2019 8:04am | Post# 100

Thank u very much with reply ... so because i want understand good .. add 3,21,50 EMA in chart and OBV .. and hide line of OBV ... right ??
That's right. EMA is Exponential Moving Average.
I add the template in first post if you need to check!


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