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Renko + Logic = £££££

  • #21
  • Jan 28, 2012 4:45am Jan 28, 2012 4:45am
Ready for Monday, when data flows, however I will be in hospital all week, so no chance to see these charts in action for awhile.

I made template for the Base chart, with Renko EA, so I can apply quickly to any pair, 1 minute chart, and then open the M2 Offline chart, have a template for that also.

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MAY THE TREND BE WITH YOU
  • #22
  • Jan 28, 2012 4:55am Jan 28, 2012 4:55am
Quoting Erebus
Ready for Monday, when data flows, however I will be in hospital all week, so no chance to see these charts in action for awhile.

I made template for the Base chart, with Renko EA, so I can apply quickly to any pair, 1 minute chart, and then open the M2 Offline chart, have a template for that also.

The indicator version seems to be working fine for me, I will have to compare against the EA on another broker and see if there is a difference.

Maybe if you have the charts open while the prices move then it works ok but the history paints differently?

Thanks for bringing the issue to attention.
  • #23
  • Jan 28, 2012 10:53am Jan 28, 2012 10:53am
I didn't try renko charts so far but your journal made me research a bit more on them. Unfortunately the markets are closed so I can't see yet the charts on my comp. I will do some more research this week on those.
  • #24
  • Jan 28, 2012 11:16am Jan 28, 2012 11:16am
Quoting KMidas
I didn't try renko charts so far but your journal made me research a bit more on them. Unfortunately the markets are closed so I can't see yet the charts on my comp. I will do some more research this week on those.
If you try the indicator version you should be able to produce a chart despite the market being closed. I have found it to work ok and I have compared it to the EA and script and found it to be the same.

More testing of this needs to be done to make sure that everyone is using correct charts. I am happy to continue using the indicator until it is proven to me that the bricks I am trading are incorrect.

One option is to use a charting package that includes renko charts but I could not get on with ninjatrader and a few others and so I am still using mt4 renko charts.
  • #25
  • Jan 29, 2012 5:32am Jan 29, 2012 5:32am
I've added a new trade type to the first post so the examples that follow are numbered incorrectly. The posts are over 24 hours old now so I can't change them.

Basically I now have sr breaks with the trend, sr holds with the trend, sr breaks out of a range, sr holds into a range, tl holds and tl breaks.
  • #26
  • Jan 29, 2012 5:07pm Jan 29, 2012 5:07pm
Market open so I have added some pending orders for breakouts in case anything happens overnight. I will review this in the morning.

Not much of a gap over the weekend so the usdchf trade still going ok.
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  • #27
  • Jan 29, 2012 5:24pm Jan 29, 2012 5:24pm
I found all the stuff my buddy coded for Renko bars and charts. When I have a chance to go over it all and remember how it works on a chart I will pass it on to you. It may be a while though, but I am glad I found it.

Hope you have a nice week of trading.

Dust
"Keep your eyes on the helpers" - Mr. Rogers
  • #28
  • Jan 30, 2012 12:32am Jan 30, 2012 12:32am
Quoting damonl
I found all the stuff my buddy coded for Renko bars and charts. When I have a chance to go over it all and remember how it works on a chart I will pass it on to you. It may be a while though, but I am glad I found it.

Hope you have a nice week of trading.

Dust
Hey, that would be great, I'd really appreciate that.

Nothing triggered overnight and in fact usdchf pulled back 30 pips or so. I've moved it to break even now and I'm going to leave the pending orders in place for now. If anything breaks out I'll be in the trade but it looks like everything may be about to start heading the other way for a while. I'm not that surprised, usd strength was more or less bound to return at some stage.

I'll update as and when anything happens. Could take a while with renko...
  • #29
  • Jan 30, 2012 3:32am Jan 30, 2012 3:32am
Usdchf stopped out at break even. Audusd short opened on a tl break, trade type 6. TP just above next s/r at 1.0440, about 100 pips.

xxxusd falling and usdxxx rising.
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  • #30
  • Jan 30, 2012 4:20am Jan 30, 2012 4:20am
Quoting Hugh Briss
Usdchf stopped out at break even. Audusd short opened on a tl break, trade type 6. TP just above next s/r at 1.0440, about 100 pips.

xxxusd falling and usdxxx rising.
hi hugh,

trend for gu n eu still not yet change in H4 rite?
as you tell me before... if price is still above 100sma, trend is still not yet change...

any input is appreciated..

tq.
Peace Yo!
  • #31
  • Jan 30, 2012 4:49am Jan 30, 2012 4:49am
Quoting mrluckystar
hi hugh,

trend for gu n eu still not yet change in H4 rite?
as you tell me before... if price is still above 100sma, trend is still not yet change...

any input is appreciated..

tq.
Yes, the 4 hour trend is still up on those pairs. They are pulling back though. If you look at the daily chart it may be about to turn down. Who knows? Best thing to do is to wait for a clear signal.
  • #32
  • Jan 30, 2012 8:53am Jan 30, 2012 8:53am
Usdjpy broke out.
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  • #33
  • Jan 30, 2012 10:37am Jan 30, 2012 10:37am
Audusd stopped out -50. It was countertrend. I'll stick to the 6 trade types until I have enough trades to decide if they are profitable long term.
  • #34
  • Jan 30, 2012 11:10am Jan 30, 2012 11:10am
Usdjpy moved to break even +20 pips, sold usdcad, s/r hold with the trend.
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  • #35
  • Jan 30, 2012 1:07pm Jan 30, 2012 1:07pm
Can take a huge while with renko, but the runs can seem to just keep going forever.

Quoting Hugh Briss
Hey, that would be great, I'd really appreciate that.

Nothing triggered overnight and in fact usdchf pulled back 30 pips or so. I've moved it to break even now and I'm going to leave the pending orders in place for now. If anything breaks out I'll be in the trade but it looks like everything may be about to start heading the other way for a while. I'm not that surprised, usd strength was more or less bound to return at some stage.

I'll update as and when anything happens. Could take a while with renko...
"Keep your eyes on the helpers" - Mr. Rogers
  • #36
  • Jan 30, 2012 1:17pm Jan 30, 2012 1:17pm
Quoting damonl
Can take a huge while with renko, but the runs can seem to just keep going forever.
Yeah, just got to be patient and catch them. I need to work out which of these signals is going to bank the most pips and then stick with that. I'm thinking maybe either the breaks of s/r with the trend and/or holds of s/r back with the trend. Time will tell.
  • #37
  • Jan 30, 2012 5:40pm Jan 30, 2012 5:40pm
I don't remember exactly, it has been a while since we worked on it due to our health. I'll keep wathcing and maybe I will pick up on a few things again.

Quoting Hugh Briss
Yeah, just got to be patient and catch them. I need to work out which of these signals is going to bank the most pips and then stick with that. I'm thinking maybe either the breaks of s/r with the trend and/or holds of s/r back with the trend. Time will tell.
"Keep your eyes on the helpers" - Mr. Rogers
  • #38
  • Jan 30, 2012 11:21pm Jan 30, 2012 11:21pm
Usdjpy and usdcad both in profit this morning. Usdjpy doing best. I've added a pending order on eurusd, xxxusd seem to be going up and usdxxx down and I have two trades in profit so I'll be happy enough if the pending orders on gbpusd and eurusd kick in. By the way, don't forget that usdjpy is on 10 pip renko bricks, not 20.
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  • #39
  • Jan 30, 2012 11:26pm Jan 30, 2012 11:26pm
Also I will post an update at the end of the week, probably in notepad form as almost everyone will be able to read it in notepad, maybe I'll pdf it? I'll break down all of the trades taken, the trade type and the outcome. If I continue to do this weekly I can track the profitability of each type of signal properly and in 6 months time I can pick the signals that work best and just use those.

I'll update on the current trades when anything happens... zzzzz... this making money is so boring!
  • #40
  • Jan 31, 2012 5:15am Jan 31, 2012 5:15am
Gbpusd broke out, usdjpy and usdcad at break even so only one trade at risk.
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