DislikedNeither... that's the indi Chris used and changed and was an indexed momentum indicator.
Chris_B knows more about this one... just tried to use it to filter the TrixIgnored
Now I'll try to track down Chris too. lol
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DislikedNeither... that's the indi Chris used and changed and was an indexed momentum indicator.
Chris_B knows more about this one... just tried to use it to filter the TrixIgnored
DislikedHi...
that indy was SMI (Stochastic Momentum Index) but this file contains a bug
so you can use IndexedMomentumK...it's the same but it works..
My indy was just calling this indy to put the arrows..
Hope this helpsIgnored
DislikedThanks for the quick reply Chris!
Just goes to show everyone, no such thing as a dumb question esp if it gets...Ignored
DislikedI will try to recode the Indi... just give me some time.
If I remember right the SMI is coded in my indi... but not sure anymore.
I just remember that I let the smi away later as it didn't help anything in getting better signals.
Bricks are 10 PipsIgnored
DislikedProbably you don't know...but Tudorgirl was a fake...and her results were a fake too...and I have serious doubts that Edgetrader's Nitro was reality...
FxFish repaints the past...is totally useless..but if you want to try it you can do it...
Trust me...no indy can filter renko fakes..find an indy that can "predict a 10pips move" and I will pay you to have itIgnored
DislikedNo hurry, as you know someone else brought up the original question on the comparison of your two indis which on the surface they look identical, and if one has a bug in it that needs to be fixed probably wouldn't be a bad idea to do so since a lot of new trades maybe trying to use it.
PS: Below is another copy of message I sent you via PM.
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You must already know this since you made the indicator, but...Ignored
DislikedOK guys, I have a question: why not keep it simple? By that I mean, if you look at any Renko (10) chart, it shows that you could buy anytime you have a blue bar, and sell any time you have a red bar, and make a killing. No other indicators needed, no multiple time-frames, just the renko bars.
Now because it looks so simple that usually means I'm missing something. So what am I missing?
If you open a 1H GBP/USD and put "RenkoFX" custom indicator on the chart, you see perfect trends (with a few mixed bars) that would net you hundreds and thousands...Ignored
Disliked
PS:
DxTrade your saying ATR stays the same for any two different periods on renko charts right, & thus has no real value on renko charts whatsoever?
later,
45
Ignored
DislikedOK guys, I have a question: why not keep it simple? By that I mean, if you look at any Renko (10) chart, it shows that you could buy anytime you have a blue bar, and sell any time you have a red bar, and make a killing. No other indicators needed, no multiple time-frames, just the renko bars.
Now because it looks so simple that usually means I'm missing something. So what am I missing?
If you open a 1H GBP/USD and put "RenkoFX" custom indicator on the chart, you see perfect trends (with a few mixed bars) that would net you hundreds and thousands...Ignored
Disliked[color=#000000][font=Times New Roman][font=verdana]
Hey Dreamliner,
I'm not trying to complicate trading on renko charts, I know it can be as simple of trading off of every 2.5 to 3 renko brick if your not trying to scalp, or right after a renko turning point as you said....Ignored
DislikedDreamliner, you are quite riight, all the indicators do in renko is confirm what the blocks are telling you, As an exercise try playing with all the indicators on 1 chart, eg indexed momentum, stochastic, macd, etc, play with the settings and they will all tell show you in the 1 block that the direction has changed and give an entry signal.
The key with renko is to confirm that their is intensity ( or momentum) in the direction of the movement. Otherwise you can get lots of false and expensive signals and getting onto the trends is not easy if...Ignored
DislikedI still don't get it, because looking at the Renko charts you don't need any indicators at all, ever. Buy blue, sell red. Obviously there is more to it than this, I just haven't had a chance to watch them live. Will do that Monday and I'm sure will have a whole different understanding of Renko charts.Ignored
DislikedATR is "Average True Range" = the candle size of the last x candles.
That is to measure the market speed and activity.
A Renko candle has always the range you give it... 10 pips in my case.
So the range is always 10 whatever period you choose.
To measure ATR on a Renko chart you need a different calculation of bricks per 5 minutes or so while calculating the renko brick formation time.
Useless in my opinion as you can then use directly normal candles.Ignored
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I see some aspect of what your saying ATR is in this definition of ATR, but when I put two totally different ATR indi periods, I'm not seeing getting the current brick size value back on either one, & both show different numbers.
Could you look at ATR with two different periods on renko charts again?
This screen shot shows what the current ATR value is marked by the red horizontal lines. This is on 15 pip renko brick charts and neither ATR value is 15. If I'm missing something, please let me know DXTrade.
Disliked----------------------------------
This is how ATR works per MT4 help files:
Average True Range
Average True Range Technical Indicator (ATR) is an...Ignored
Disliked
True Range is the greatest of the following three values:
- difference between the current maximum and minimum (high and low);
- difference between the previous closing price and the current maximum;
- difference between the previous closing price and the current minimum.
Ignored
DislikedWhat Renko do you use?
On a "real" renko there is obviously the high-close and low-close always 10 pips on a 10 pip brick!
See pic... atr(14) and atr(21) have both the same values of 14... and this value does never change.Ignored
DislikedWonder if ATR can be used to trade on renko charts this way?
I know it looks kinda messy though.
But maybe one of your DxTrade info indis could help clean up the chart quite a bit though, if it works.Ignored
DislikedWell... I put my version 1.7 on the Renko... using a commercial Renko chart.
And the values are always the same.
Just trust me... ATR on real Renkos doesn't work... ever.Ignored