Renko Matrix | Forex Factory

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Renko Matrix

  • #1
  • First Post: Jun 21, 2018 5:05am Jun 21, 2018 5:05am
A brand new start for me, an attempt to be a "System Follower", buy when the system says "Buy", sell when the system says "Sell".

I am carrying forward some of the indicators I had been using and want to see which approach would be best to pursue and adhere to.

Approach 1, Follow the Median Chart bias and take signals from the P O Chart in that direction.
Approach 2, Just take every signal from the P O Chart.

No back-testing results, I just want to forward test and see how it works out.

Most trades are taken from the "FO"
The Momentum indicator on the 10 pips Median Renko chart gives the bias.
All the indies on the P O Chart MUST ALIGN for a valid signal. (Safety in numbers?)
SL 3 bricks
TP 6 bricks or obvious targets
Attached Image(s) (click to enlarge)
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Let it turn and find your entry.
  • #2
  • Jun 21, 2018 5:35am Jun 21, 2018 5:35am
I would like to relieve some of the indicators off the POChart but I'd hate to add more.

Took this trade while putting the "System" together.
Attached Image(s) (click to enlarge)
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Let it turn and find your entry.
  • #3
  • Jun 21, 2018 5:36am Jun 21, 2018 5:36am
I wish I had these filters in place yesterday.
Attached Image (click to enlarge)
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Let it turn and find your entry.
  • #4
  • Jun 21, 2018 5:41am Jun 21, 2018 5:41am
I like this.

https://www.forexfactory.com/showthr...7#post11176367
Let it turn and find your entry.
  • #5
  • Jun 21, 2018 3:27pm Jun 21, 2018 3:27pm
I should be choosing my pairs this way.

https://www.forexfactory.com/showthr...1#post11143751
https://www.forexfactory.com/showthr...9#post11161699

For some days more than one pair will meet the criteria, so the lower the average spread the better.
On days when they none meets, then it would be either EURUSD or GBPUSD.

Today 4 pairs made the cut, but I came up short of milking the cash cow.
Attached Image(s) (click to enlarge)
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Let it turn and find your entry.
  • #6
  • Jun 21, 2018 3:36pm Jun 21, 2018 3:36pm
Any special reason why you use Renko on the main chart and what look like range bars on the other?
  • #7
  • Jun 21, 2018 3:41pm Jun 21, 2018 3:41pm
After the news spike I didn't think there;d be much movement afterwards with Cable breaking it's ADR high and Euro tanking (it seemed so then) so I went out only to find....
Attached Image(s) (click to enlarge)
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Let it turn and find your entry.
  • #8
  • Jun 21, 2018 3:54pm Jun 21, 2018 3:54pm
Quoting handy148
Any special reason why you use Renko on the main chart and what look like range bars on the other?

I just wanted to get rid of following MAs (if I can ever do that) I see that most indicators are Moving Average based so let the Indicators give the bias on the sub window.
The Median Renko is so cool to the eyes and smooths out the noise of time frames so you can be uni-directional in your trading.

The range bar looking charts are Renko type charts (Point O Chart) which shows every move that price makes unlike the regular Renko Charts.

This combination is supposed to enable you find entries in the POC when a move has already started on the Median charts like in this post https://www.forexfactory.com/showthr...2#post11188622

Moreover entering with the POC gives you better (cheaper) entries.
Let it turn and find your entry.
  • #9
  • Jun 21, 2018 4:11pm Jun 21, 2018 4:11pm
I had to take out the BB MACD -too slow.
Attached Image (click to enlarge)
Click to Enlarge Name: RM 12.png Size: 61 KB
Let it turn and find your entry.
  • #10
  • Jun 22, 2018 3:13pm Jun 22, 2018 3:13pm
Quoting Intrepidpips
I should be choosing my pairs this way. https://www.forexfactory.com/showthr...1#post11143751 https://www.forexfactory.com/showthr...9#post11161699 For some days more than one pair will meet the criteria, so the lower the average spread the better. On days when they none meets, then it would be either EURUSD or GBPUSD. Today 4 pairs made the cut, but I came up short of milking the cash cow. {image} {image} {image} {image}

Several pairs met the criteria for suitability among them EURO and CABLE
Attached Image(s) (click to enlarge)
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Let it turn and find your entry.
  • #11
  • Jun 22, 2018 3:41pm Jun 22, 2018 3:41pm
Euro would have been my choice.
Attached Image(s) (click to enlarge)
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Let it turn and find your entry.
  • #12
  • Jun 22, 2018 9:29pm Jun 22, 2018 9:29pm
from 40h ago to now, how many order submit and profit, lost ? I really like this system
  • #13
  • Jun 23, 2018 5:53am Jun 23, 2018 5:53am
Quoting ichimoker
from 40h ago to now, how many order submit and profit, lost ? I really like this system

I have some limitations, majorly power and sometimes errands to run for the family and then I have to work sometimes so I miss out sometimes. When I have consistently traded this system and proven it, I might automate or go full time.
Let it turn and find your entry.
  • #14
  • Jun 23, 2018 6:00am Jun 23, 2018 6:00am
I've been talking about a "Line in the sand" thinking it was some MA and have been working on that for a long time now but I'm realizing that it just has to be the Floor or Center Pivot and Daily open line.

When these too are in tandem trading away from these lines is of higher probability at least 8 out of 10 days.
Attached Image(s) (click to enlarge)
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Let it turn and find your entry.
  • #15
  • Jun 23, 2018 6:45am Jun 23, 2018 6:45am
[quote=Intrepidpips;11188533 TP 6 bricks or obvious targets {image} {image}[/quote]

Obvious targets can really be subjective, I have found that most days, following the Pivots direction, price visits S78 & R 78 so often however there are days when price fails to reach these points.
Levels such as previous days high/low, ADR high/low Psychological levels are very helpful for TP areas.
Like GBPCAD yesterday.

Attached Image (click to enlarge)
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The pair was already "Pivot compliant"
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And the Median Renko chart captured the bias well.
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Let it turn and find your entry.
  • #16
  • Jun 29, 2018 5:28pm Jun 29, 2018 5:28pm
Quoting Intrepidpips
I would like to relieve some of the indicators off the POChart but I'd hate to add more. Took this trade while putting the "System" together. {image} {image}
Some give and take.

Got rid of the Mom Histo, changed the candle bars and added the SDL.

Still have to let go of the unwillingness to loose.
Attached Image (click to enlarge)
Click to Enlarge Name: RM 44.png Size: 68 KB
Let it turn and find your entry.
  • #17
  • Jun 30, 2018 5:38am Jun 30, 2018 5:38am
hi

how big is win/loss ratio for this system?
[email protected] om
  • #18
  • Jul 3, 2018 5:14pm Jul 3, 2018 5:14pm
Quoting Profess
hi how big is win/loss ratio for this system?

Not established.
Let it turn and find your entry.
  • #19
  • Jul 3, 2018 6:18pm Jul 3, 2018 6:18pm
Some post-Morten of my losing trades is leading me to discard the Median Renko chart Momentum indicator and keep just the Powerfuse indicator.
Attached Image(s) (click to enlarge)
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Let it turn and find your entry.
  • #20
  • Jul 5, 2018 11:13am Jul 5, 2018 11:13am
Hello, would you be prepared to upload and template file and all the indicators for this system, it looks interesting? Thanks if you do!
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