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Renko line in the sand

  • #241
  • Jun 7, 2018 5:31am Jun 7, 2018 5:31am
Clearly not suitable
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ADR PIVOTS 6.png Size: 93 KB
Click to Enlarge Name: ADR PIVOTS 7.png Size: 92 KB
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  • #242
  • Jun 7, 2018 5:53am Jun 7, 2018 5:53am
All conformed.

The WP-Nostrom_mod is amenable to customization and can be visually back-checked.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ADR PIVOTS 4.png Size: 87 KB
Click to Enlarge Name: ADR PIVOTS 5.png Size: 82 KB
Click to Enlarge Name: ADR PIVOTS 8.png Size: 83 KB
Attached File(s)
File Type: rar ADR PIVOT.rar   337 KB | 488 downloads
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  • #243
  • Jun 7, 2018 6:31am Jun 7, 2018 6:31am
Late entries led me to thinking.
Attached Image (click to enlarge)
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  • #244
  • Jun 7, 2018 6:34am Jun 7, 2018 6:34am
Quoting Intrepidpips
Late entries led me to thinking. {image}

So it came to this.....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: RLITS 649.png Size: 66 KB
Click to Enlarge Name: RLITS 650.png Size: 82 KB
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  • #245
  • Jun 7, 2018 6:37am Jun 7, 2018 6:37am
So I wonder why I stopped using the CCI and Q Bands?
https://www.forexfactory.com/attachm...0&d=1508496993
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  • #246
  • Jun 7, 2018 1:08pm Jun 7, 2018 1:08pm
Quoting Intrepidpips
Choice of pairs This is definitely a great factor for success in trading. I am thinking that I might start using the Pivots and the ADR/ATR. The Idea is to select from the Highest ADR pairs and then choose the ones trading away from the Daily pivots and take signals from those pairs only. Any pair that does not meet these two criteria is not considered. Even if you chose to trade the M15 charts it's a guarantee of daily consistent pips. An example from today, the EURUSD. The Stoch/Mom is in my preferred Oscillator keeps you from Fake-outs unlike...

I found an article on how to trade Pivot Points and I converted it into a PDF interesting and coincidentally they chose the M15 TF like me.
Attached File(s)
File Type: pdf How to Trade with Pivot Points the right way.pdf   791 KB | 4,219 downloads
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  • #247
  • Jun 8, 2018 3:41am Jun 8, 2018 3:41am
Horrible day when you have to give back so much.

I have taken time to review and I see my failings.

First I got out of bed late and turned on my computer 3 minutes before FO. I should have decided which pair to trde like 15 minutes before.

Second I ignored my game plan of choosing from the High ADR pairs, EURUSD had dropped from both tables and was dancing around the Pivots, while EURJPY, GBPJPY, USDCAD were well aligned.
Attached Image(s) (click to enlarge)
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Let it turn and find your entry.
  • #248
  • Jun 8, 2018 3:52am Jun 8, 2018 3:52am
EURUSD did well eventually hitting S78 which would have been my ultimate target but The structure of my charts made me hesitate in pulling the trigger when I decided to trade it so I was out of a 30 pips drop and could only pick myself up to take the other signal that came in the consolidation period and I was battered.
Attached Image (click to enlarge)
Click to Enlarge Name: RLITS 656.png Size: 72 KB
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  • #249
  • Jun 8, 2018 4:20am Jun 8, 2018 4:20am
So instead of allowing for a fourth loss in a row, the "Tweak Monster" took over.
I decided to take the 10pips Median Renko chart as control chart and adjust the MAs accordingly.

I added the SM Hull MA 24 period to the POchart and took out the CCI I want to process less information.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: RLITS 657.png Size: 78 KB
Click to Enlarge Name: RLITS 658.png Size: 77 KB
Let it turn and find your entry.
  • #250
  • Jun 8, 2018 7:33am Jun 8, 2018 7:33am
Quoting Intrepidpips
Horrible day when you have to give back so much. I have taken time to review and I see my failings. First I got out of bed late and turned on my computer 3 minutes before FO. I should have decided which pair to trde like 15 minutes before. Second I ignored my game plan of choosing from the High ADR pairs, EURUSD had dropped from both tables and was dancing around the Pivots, while EURJPY, GBPJPY, USDCAD were well aligned. {image} {image} {image} {image}


Does high ADR shown at a particular point in time occurred due to the movement preceded or does it show an actual potential move which might happen? I am a bit confused with this aspect of the ADR. Could you please clear my doubt. Thanks in advance.
  • #251
  • Jun 8, 2018 10:06am Jun 8, 2018 10:06am
Quoting civilpes2001
{quote} Does high ADR shown at a particular point in time occurred due to the movement preceded or does it show an actual potential move which might happen? I am a bit confused with this aspect of the ADR. Could you please clear my doubt. Thanks in advance.
The ADR is AVERAGE DAILY RANGE
The number of pips movement in a pair from swing high to swing low in a trading day is the Daily Range.
Then the ADR is the Average for a given number of days, some prefer 5 days some prefer 15 days.
When a pair has a high ADR for the chosen number of days, it means it has volatility, there is the likelihood of big movement in that pair.

It would be better to choose a pair with higher ADR than one with lower.
On the other hand ATR is AVERAGE TRUE RANGE which is the number of pips movement from swing high to swing low as at this particular time. ATR changes per minute, but a pairs ADR is fixed within the day and only changes after the end of the days trading.

If a pair has ADR of 127 and as at New York close it's ATR is 130 you don't expect much but range from that pair except if some big news figures or events happens.
Let it turn and find your entry.
  • #252
  • Jun 9, 2018 3:18am Jun 9, 2018 3:18am
Quoting Intrepidpips
I have taken time to review and I see my failings.
Then I realized that I changed the settings of the Mom from 18 to 10 so as to get faster entries (greed you could say).
Let it turn and find your entry.
  • #253
  • Jun 9, 2018 3:30am Jun 9, 2018 3:30am
Found something some time back similar to this.... https://www.forexfactory.com/showthread.php?t=454060

I could not get kiads version to work, (I wonder who has succeeded in using it on a consistent basis) I so believed that it would be the "Numero Uno" of Renko Chart builders.
My mistake all this while was placing it in the Experts folder instead of simply in the Indicators Folder.

Imagine no MAs no BBs, TDI RSI, Stochs.

I could only get the MACD to work with it for visual confirmation and if you are familiar with me, Divergence spotting.

This has not been tested in real time so I am attaching the Indicator and templates for all to try out.
I use the 10 Brick/25% option.

Let's see if we've found the pot of gold at the end of Forex Rainbow
Attached Image(s) (click to enlarge)
Click to Enlarge Name: RLITS 659.png Size: 55 KB
Click to Enlarge Name: RLITS 660.png Size: 68 KB
Attached File(s)
File Type: rar CASINO RENKO.rar   1.1 MB | 591 downloads
Let it turn and find your entry.
  • #254
  • Jun 9, 2018 3:33am Jun 9, 2018 3:33am
Quoting Intrepidpips
Found something some time back similar to this.... https://www.forexfactory.com/showthread.php?t=454060 I could not get kiads version to work, (I wonder who has succeeded in using it on a consistent basis) I so believed that it would be the "Numero Uno" of Renko Chart builders. My mistake all this while was placing it in the Experts folder instead of simply in the Indicators Folder. Imagine no MAs no BBs, TDI RSI, Stochs. I could only get the MACD to work with it for visual confirmation and if you are familiar with me, Divergence spotting....
PS

And please if anyone has any working version of Adjustable Renko chart builder please and pretty please, feel free to share
Let it turn and find your entry.
  • #255
  • Jun 12, 2018 8:26am Jun 12, 2018 8:26am
https://www.forexfactory.com/showthr...7#post11149437

This really set me thinking.
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  • #256
  • Jun 12, 2018 9:49am Jun 12, 2018 9:49am
Quoting Intrepidpips
{quote} PS And please if anyone has any working version of Adjustable Renko chart builder please and pretty please, feel free to share

I found it's called Turbo Renko, but I'd downloaded the 7 day demo of AZ Invest but could not activate it so I'm skeptical to buy the Pro version.
Let it turn and find your entry.
  • #257
  • Edited 11:08am Jun 12, 2018 10:15am | Edited 11:08am
Quoting Intrepidpips
Choice of pairs This is definitely a great factor for success in trading. I am thinking that I might start using the Pivots and the ADR/ATR. The Idea is to select from the Highest ADR pairs and then choose the ones trading away from the Daily pivots and take signals from those pairs only. Any pair that does not meet these two criteria is not considered. Even if you chose to trade the M15 charts it's a guarantee of daily consistent pips. An example from today, the EURUSD. The Stoch/Mom is in my preferred Oscillator keeps you from Fake-outs unlike...
I replaced the StochMom with the MACD and added the Daily open line as an additional filter.
If the pair is trading away from both the Central Pivot and Daily Open Line, is more suitable. Then if the MACD is above zero level that means we look for long entries and reverse for shorts.

Some days can be low volume days like today started out to be some pairs met the requirements but didn't quite get to the 78 pivot.
CHFJPY did get to R78 but was not under the high ADR radar
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ADR PIVOTS 9.png Size: 89 KB
Click to Enlarge Name: ADR PIVOTS 10.png Size: 88 KB
Click to Enlarge Name: ADR PIVOTS 11.png Size: 93 KB
Click to Enlarge Name: ADR PIVOTS 12.png Size: 79 KB
Let it turn and find your entry.
  • #258
  • Jun 12, 2018 10:32am Jun 12, 2018 10:32am
I am yet to place a trade with the Adjustable Renko but it's looking good.

EJ made the cut but didn't hit R78.

Likewise GJ
Attached Image(s) (click to enlarge)
Click to Enlarge Name: RLITS 680.png Size: 58 KB
Click to Enlarge Name: RLITS 681.png Size: 60 KB
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  • #259
  • Jun 12, 2018 10:57am Jun 12, 2018 10:57am
Here's a script I use to fetch Price history on the MT4. Place it in the scripts folder.
Attached File(s)
File Type: ex4 LoadAllHistory.ex4   102 KB | 289 downloads
Let it turn and find your entry.
  • #260
  • Jun 12, 2018 11:14am Jun 12, 2018 11:14am
Quoting Intrepidpips
{quote} CHFJPY did get to R78 but was not under the high ADR radar {image} {image} {image} {image}
With the adjustable Renko the need for a control chart is done away with especially if you follow the ADR/Pivots rule.
Attached Image (click to enlarge)
Click to Enlarge Name: RLITS 682.png Size: 54 KB
Let it turn and find your entry.
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