Trade the pa -"for renko lovers"

Hai to all,

there will be no lot discussion about who i am? what is my trading history ? Blah, Blah,Blah. We are all here for doing some business, lets get into it straight.

Why we are using renko charts, because it eliminates the noise of the time based charts. those who love the trading with PA. sure they will love renko . Because IMHO none other than renko chart will show you the PA.

we will use
1] Stupid.BS7.TURBO- my own proprietary indicator as a trigger.
2] Signal Support indicator as trigger thorougher- my own proprietary indicator as a trigger.
3] Trend Support indicator for identify ranging, trending market- my own proprietary indicator as a trigger.

some one will ask as it is based on renko chart how many hours i have to stare down on computer? my trigger indicator has the ability to alert via instant alerts and email. you just have to configure your mt4 email setup at the options tab, and turn on the alert == true in trigger indicator.

how it will work.

please copy the indicators in the indicator folder of your mt4 and the library into the library folder and template at the template folder.then open your renko chart and load the template, thats it.

LIBRARY [dll] file is more than 10 mb i cant upload it here, please download it in the below link. without the library file the trigger indi will not work
http://www.mediafire.com/download/ca...Turbo_rev1.dll

creating renko.......
there are so many threads in ff describe this well so i will not go to in this subject. there are many ea and indicators in ff available for free to create renko please find it.

these indicators will work very good in five pip renko box, chart. may be at 3 pip box size also, but the best is 5 pip renko box.

how many pairs and what pairs ......
it will be depend on you.......
i usually prefer, EUR/USD, EUR/AUD, EUR/JPY, GBP/USD, GBP/AUD, GBP/JPY, AUD/USD, USD/JPY, NZD/USD, XAUUSD. Please note these pairs are session oriented.

ho to enter:-

1]buy or sell:-
the trigger indicator must be appear, for buy green and for sell red.

2]Signal validation:-
Signal support must be in green for buy and Red for sell.

3] trend validation:-
here comes the major part of the trading. we have to identify whether it is in range or it is in correction or it is in trend change using Trend Support indi.

correction:-
basically it has three colors, 1] green for bull trend, 2] red for bear trend, 3] yellow for correction or trend change.

trend change or correction,
when a existing trend in bull[green] bars, and the yellow bars appear. if the yellow color changed to existing green with in 3 to 5 bars [shortly after changing into yellow]. then it is a little correction and the existing trend will continue. same for red color[bear trend].

but when a existing trend in bull[green] bars , and the yellow bar appear. if the yellow color changed to opposite trend color to red[bear trend] the it is a trend change. basically the if a trend change occurs the Trend Support indicator will remain long period in yellow before changing in to opposite color.

is all three indicators must align in same direction for taking trade?

frankly my answer is NO, but no indicator will not be on the opposite side of the trade. the Trigger and Signal Support will align on the same side every time, but we have to look for the Trend Support indicator for not in the opposite side trade, it must be align in same side of the trade or it may be in the trend change mode. if you are bold enough you can even take trade at correction mode. if you learned PA you will combine my Trend Support to identify the correction and trend change.

Dont take trade in ranging mode,

how to know about the ranging time, simple see the picture below, the Trend Support indi is in the correction period, The Support Indi is changing simultaneously, so we should avoid in these conditions.

take profit and stop loss,

basically i have created these indis for scalping pips , better option is 1:1 ratio 15 pip stop and a 15 pip take profit. just a day a trade per ten pairs 10*15= 150 pips bingo. but here comes the sad part we will not win all the trades. but end of the day pips matters.

or you can trail the stop by 15 pips, once price moves on our favor 15 pips move your stop to BE, like wise trail it, as we are dealing with PA we can get more than 70 pips from a pair.

Conclusion:-

this is no holy grail , there are some draw backs in this system it will give you the signal at the end of the trend, so basically the older the signal the more chance to fail. it will work 90% in our way if we maintain best stops and profit level. there is also other way of profit taking, i will discuss later in following posts.

LOAD IT AND TEST. I am sure this strategy will bring some fortune to you, and it will not be one of many threads in ff which discuss the same thing.

i will put these indis in my terminal which is running in vps, and take the snapshots of daily signals and post it here.

ADIOS partners,
BEST OF LUCK.


LIBRARY [dll] file is more than 10 mb i cant upload it here, please download it in the below link. without the library file the trigger indi will not work
http://www.mediafire.com/download/ca...Turbo_rev1.dll


Update- 12/10/2014:-

new indicator "PRICE_FLUCTUATE" had been posted, please find the indicator and how to use it instructions in the following post link

http://www.forexfactory.com/showthre...50#post7797650

hai,

STAGE IS SET, BELOW IS THE TERMINAL RUNNING IN VPS SERVICE. When first time loading the template, the system will freeze for just 10 to 20 seconds, because the trigger indi will be authorized after that it will be load as usual.

Very, very, VERY glad to see a new Renko thread here.

Keep it up, brotha! Subscribed

hai to all,

today not much fuel for movement but still we got our signals,

AUD/USD- as i mentioned we got our signal at the end of the trend, but still we able to get pips.

GBP/USD- it is not Asian session pair, but the speeches from fed and boe members moved the market, we profited today

EUR/USD- like above post the market moved and we profited

EUR/AUD- here comes the Asian session pair, we got good signals,

GBP/AUD- another Asian session pair

XAUUSD- it is always volatile pair

thankyou for you reply, green pips to you.

hai to all,

some people ask question via PM, that trigger indicator is not working , as i stated in my first post, you need the Library Dll file which is available in the link in my first post. without the dll file it will not going to work.

hai to all,

this is the EA under development for this system, but it is in developing process. it opens position and making pips very well but , this ea does not closes the position exactly so it is loosing some pips which earned by it, so i am trying to make the ea to exit at the exact point, still manual interception needed , lets see how it is building.

happy green pips for you all

Scalper is their an ea portion that actually triggers the trades?

http://www.forexfactory.com/showthre...57#post7796257

I entered and closed trade manually. Just downloaded indis and attached to my charts It shows entry where I entered.

Hi scalper.exp
correct me if I am wrong. file below is to protect indicator codes and sytem going to be commercial soon
MQLLock_5027_Stupid_BS7_Turbo_rev1

It is protected because, I dont want anyone to misuse my code, just simple

I am developing ea, to analayze the situation, and take the trade, when we are out from the screen, but my main problem is to cut short or trail it, if I cut short, I will be profit, I am missing huge part of profit. But if I trail it , I am making huge , but some times big blows happening, may be a BE function should be implemented, but here also a question arises, how many pips to breathe. I am just trying to find the best one, I have another method of tp , but it should be manually done.if the last method implemented, we will be profit side more than 95 percent, but ultimately it has to be done by manual. I will send you a pm about the last method , lets analayze and work it out.

hi scalper ive downloaded the renko but i cant get it opened.

Hi scalper.exp,

Does the alert in the indi have a pop up to show the signal together with sound?

is this possible to convert it to java as I am also using jforex platform from Dukascopy and they have renko in their platform.

thxs.

Bill

suscribed! Liking the Renko Approach to tradingm defintiely cuts outs noise and showns clear price action movement, will hopefully get this up and running tomorrow!

It looks nice. Thanks for sharing. If I can ask, does any of the indis repaint after a bar is formed? Thanks

Hi Scalper,
What is your Renko box size please.
Regards,
Ronald

Hi Scalper,
Just found the box size..Needed to clean my glasses.
Ronald

thanks for your reply.....

no indicator will repaint after bar formed and if the signal appear it will not repaint...

happy trading