Renko - ma/momentum trend catcher | Forex Factory

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Renko - ma/momentum trend catcher

  • #1
  • First Post: Edited 6:08pm May 21, 2018 12:04am | Edited 6:08pm
Hi folks!

Fist of all, sorry for my bad english!

Im starting this thread to share the system that Im working on.

Use 2 MA and Momentum indicator

The rules for sell are in the pic.

To buy is the opposite.

This momentum settings is for 10 Pips Renko box and EURUSD.

Other pair or Renko Box, we need to test the momentum settings.


NOTE: If you wanna post in this thread, USE MY TAMPLATE AND MY TAMPLETE ONLY, LETS KEEP IT CLEAN!
Attached Image (click to enlarge)
Click to Enlarge Name: TC.png Size: 58 KB
Attached File(s)
File Type: tpl RENKO_TC.tpl   4 KB | 864 downloads
Think before you trade!
  • #2
  • May 21, 2018 12:13am May 21, 2018 12:13am
Buy setup:


Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 50 KB
Think before you trade!
  • #3
  • May 21, 2018 12:35am May 21, 2018 12:35am
What is the size of the bricks?
  • #4
  • May 21, 2018 12:37am May 21, 2018 12:37am
Quoting alllivemind
What is the size of the bricks?
10 PIPS
Think before you trade!
  • #5
  • May 21, 2018 12:53am May 21, 2018 12:53am
Quoting RodrigoM
{quote} 10 PIPS
ok, thanks!
  • #6
  • May 21, 2018 2:45am May 21, 2018 2:45am
You can't trade renko in real time, so forget it.
  • #7
  • May 21, 2018 3:06am May 21, 2018 3:06am
Quoting Rammstein73
You can't trade renko in real time, so forget it.
what is this "real time" you speak of? can't you just enter a trade once a new brick has been printed?
  • #8
  • May 21, 2018 4:22am May 21, 2018 4:22am
Quoting BubaYaga
{quote} what is this "real time" you speak of? can't you just enter a trade once a new brick has been printed?
I have digged all of existing Renko-builders and all of them hang your terminal when fast and large move of price occures. When you get control back, all new bricks are printed by pack, so you just can look at them :-) Price move is over to this moment. And all Renko-builders miss tops and bottoms of price when they work live.
And you never know - WHEN new brick will be built, when price move is slow. You have to sit in front of monitor and stupidly stare on it. That is not real to do.
Pretty history picture - is only thing that we can get from Renko-builders.
  • #9
  • May 21, 2018 4:40am May 21, 2018 4:40am
Quoting Rammstein73
{quote} I have digged all of existing Renko-builders and all of them hang your terminal when fast and large move of price occures. When you get control back, all new bricks are printed by pack, so you just can look at them :-) Price move is over to this moment. And all Renko-builders miss tops and bottoms of price when they work live. And you never know - WHEN new brick will be built, when price move is slow. You have to sit in front of monitor and stupidly stare on it. That is not real to do. Pretty history picture - is only thing that we can get...
how about tradingview renko bars? the renko chart comes with terminal.
  • #10
  • May 21, 2018 7:37am May 21, 2018 7:37am
and if you're a serious renko trader there's always OVO.
  • #11
  • May 21, 2018 8:32am May 21, 2018 8:32am
I have been using OVO for many months and most happy with the Renko EA that I am using.......I have tried most Renko EA's in the last 15 years.
R







quote=handy148;11081380]and if you're a serious renko trader there's always OVO.[/quote]
Ronnie Renko
  • #12
  • May 21, 2018 8:58am May 21, 2018 8:58am
Quoting Rammstein73
{quote} I have digged all of existing Renko-builders and all of them hang your terminal when fast and large move of price occures. When you get control back, all new bricks are printed by pack, so you just can look at them :-) Price move is over to this moment. And all Renko-builders miss tops and bottoms of price when they work live. And you never know - WHEN new brick will be built, when price move is slow. You have to sit in front of monitor and stupidly stare on it. That is not real to do. Pretty history picture - is only thing that we can get...
Renkos are not so bad as you write. I have been trading with Renko's for 8 years. Mostly when the price moves fast, there are some news and you should avoid them anyway, unless you are a newstrader. With small box sizes, it can happen that the boxes get stuck in fast movements of the price as you has written. For larger boxes from 10 pips is rarely the case. If the price moves so fast you also have problems with entering or exiting a position on the candlestick chart. There are only a few Renko EA's that are good, but they exist. In a German forum, there is even a free one, or you buy one, as @ Handy148 has written above.
I already had 56 Renkocharts open and in times when there was no news it worked perfectly. You just have to know that you should not have a long history in Mt4 and there are some other tricks you can find on youtube to optimize the MT4..
Good Renko EA's show the top or bottom if you turn on the wicks.
But we are not here to talk about the sense or nonsense of renko charts , we want to know what @RodrigoM would like to introduce us here.
So sorry RodrigoM for this digress.
  • #13
  • May 22, 2018 3:04am May 22, 2018 3:04am
Hi all.
Just read the post. Just one question: which are the emas? I dont use metatrade, so i cant use the template.
thanks and lots of pips to all.
gonso
  • #14
  • May 22, 2018 6:15am May 22, 2018 6:15am
Quoting RodrigoM
Buy setup: {image}
Thanks for sharing your set-up, I've got some questions for you.
1, How do you detect the range period ahead of time? This is because price can pass the buy or sell criteria and go on into a range period.
2, Why must we wait for opposite color to appear and close before taking a trade a lot of times price must have traveled far before we take a position?
Let it turn and find your entry.
  • #15
  • May 22, 2018 6:21am May 22, 2018 6:21am
Quoting Rammstein73
{quote} I have digged all of existing Renko-builders and all of them hang your terminal when fast and large move of price occures. When you get control back, all new bricks are printed by pack, so you just can look at them :-) Price move is over to this moment. And all Renko-builders miss tops and bottoms of price when they work live. And you never know - WHEN new brick will be built, when price move is slow. You have to sit in front of monitor and stupidly stare on it. That is not real to do. Pretty history picture - is only thing that we can get...
I have experienced hanging of my computer terminal while using Renko charts, however from experience I have come tofind out ways to use Renko chart builders stress-free.

1, Your CPU should have a high processor speed, like 2.1 ghz and above,
2, It should have a high memory from 4gb Ram and above,
3, Limit the number of the Renko bars in your history when you are trading live
4, The higher the brick size the better.
Let it turn and find your entry.
  • #16
  • May 22, 2018 6:40am May 22, 2018 6:40am
Quoting RodrigoM
the system that Im working on. NOTE: If you wanna post in this thread, USE MY TAMPLATE AND MY TAMPLETE ONLY, LETS KEEP IT CLEAN! {file} {image}
I am working on the Momentum indicator as well but will not clutter your thread with my charts, you may like to explore the Momentum indicator found here.

https://www.forexfactory.com/showthr...7#post10944607
Let it turn and find your entry.
  • #17
  • May 22, 2018 6:47am May 22, 2018 6:47am
Quoting gonso
Hi all. Just read the post. Just one question: which are the emas? I dont use metatrade, so i cant use the template. thanks and lots of pips to all. gonso
Here are the sttings from the Indis.
Attached Images
  • #18
  • May 22, 2018 8:11am May 22, 2018 8:11am
Quoting Intrepidpips
{quote} I am working on the Momentum indicator as well but will not clutter your thread with my charts, you may like to explore the Momentum indicator found here. https://www.forexfactory.com/showthr...7#post10944607
Oh btw I should have mentioned it works best with Median/Mean Renko charts.
Let it turn and find your entry.
  • #19
  • Jun 14, 2018 3:53pm Jun 14, 2018 3:53pm
This won't work, renko bricks repaint and you show past actions which you could not have predicted.

Don't want to be a pessimist.

Wish you the best anyways!
  • #20
  • Sep 21, 2018 7:22pm Sep 21, 2018 7:22pm
Has anyone been using this system with any success? Some initial visual back tests I did on the EUR/USD look promising.
Nothing in life is to be feared, it is only to be understood.
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