every Saint has a past. Every Sinner has a Future
Trading with range bars ichimoku cloud & awesome oscillator
- #3,143
- Jun 11, 2018 5:38am Jun 11, 2018 5:38am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
- #3,144
- Jun 12, 2018 3:17am Jun 12, 2018 3:17am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
- #3,152
- Jun 13, 2018 2:55am Jun 13, 2018 2:55am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
- #3,153
- Jun 13, 2018 3:25am Jun 13, 2018 3:25am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
- #3,155
- Jun 13, 2018 5:07am Jun 13, 2018 5:07am
I am not very sure what this part means on the first page: use i/2 min or range bars From my understanding, I would have to use the renko bars, offline chart M2. If correct, then how many pips equals a brick? Is 5 pips correct? I'd like to have the same settings as you rockypoint. I was sadly not able to find the answer.
and just to add:use "i/2 min or range bars" means you may use 1 min time charts or 2 min time charts OR range bar charts.If you want charts that closely resemble RP's charts, yes you need to pick 5 pips per bar.
Whether you choose renko, range, time charts etc is up to you and how comfortable you are with your choice.
However, RP does not use renko bars:he uses range bars because, to quote him, "I switched to range bars because they help smooth out charts, but not too much, Renko bricks smooth too much for my taste, losing valauble insight on PA" (post 345 of this thread).
As far as i know,RP started on time charts and later favoured range bars thats why on page one he says you are free to use time charts as well.
- #3,156
- Jun 13, 2018 5:14am Jun 13, 2018 5:14am
{quote} Stopped out for +5 pips
...whichever way its an interesting level........
- #3,157
- Jun 13, 2018 5:36am Jun 13, 2018 5:36am
I just want to share something that is not new at all.I struggle a lot about staying longer in trades.Here is how i have been trying to solve this and i must say im getting better at staying in trades although i still need to improve.
Most, NOT all traders get nervous when they watch a trade.Its the retracements/pullbacks that cause the scare.So, instead of looking too much at your range bars or small time frames where small pullbacks can cause anxiety, try to look at heiken ashi candles(if you have this issue).That can help you relax.An example is the GBPNZD trade today not so long ago(didnt trade it as i was out of the office).
The pair fell some 80- 100p pips or so.If you watched the fall on small time frames or range bars, a lot of people would have exited early but using heiken ashi you are most likely to last longer in the trade as shown in the charts attached.So you can have a heiken ashi template with or without a moving average just to gauge if a trade still has momentum....I am not saying take trades from the template but if u want...thats a different method and its up to u
Most, NOT all traders get nervous when they watch a trade.Its the retracements/pullbacks that cause the scare.So, instead of looking too much at your range bars or small time frames where small pullbacks can cause anxiety, try to look at heiken ashi candles(if you have this issue).That can help you relax.An example is the GBPNZD trade today not so long ago(didnt trade it as i was out of the office).
The pair fell some 80- 100p pips or so.If you watched the fall on small time frames or range bars, a lot of people would have exited early but using heiken ashi you are most likely to last longer in the trade as shown in the charts attached.So you can have a heiken ashi template with or without a moving average just to gauge if a trade still has momentum....I am not saying take trades from the template but if u want...thats a different method and its up to u
