Extreme analysis system (Renko charts + Candlestick charts)

The downtrend is fluctuating and weak.

Yes I've been using the same strategy just using a Ichi at the candle chart for trend confirmation

Just try it mate before judging it. Welcome to the thread.

Hi Hamdy,
Thanks for the reply. GBPJPY stopped out. I saw that mac d and dss weren't according to rules after i entered. next time, ill pay more attention.

just went through the whole thread a couple of times and im going to dedicate the whole of November to it. Kudos to HS for this gift

So as promised, i had planned to start the system this month but i've been having problems with the renko chart not loading on some currencies or the dss not appearing on some charts. After some frustrating tries i took a break cleared my head and came up with my personal solution this morning. I discovered in my stash of indi's that i had an indicator which prints renko boxes on the online charts so i just decided to merge both the ext jc template and ext renko into 1, and added the renko indi. to remove some noise on the charts i added another indicator which is a Heiken Ashi which produces arrows instead. the mini charts printed H1,H4 and D1 so that i can also see any resistance levels. the last indicator was also the round number for s/r purposes. My Chart ended up looking like this...

so i decided to take it for a run today took 4 trades and made 60 pips in total in 3hrs by just targeting the R1 level, most trades ened up hitting R3 when i was out so i guess i should work on letting them run. I using the same rules,instead here i was waiting for a renko bar to print above the 3 moving averages or atleast 3/4of the bar be above the averages the check the other confirmation and get in. here are some before and after screen shots. This was the EurUsd, R2 was pretty close...

Ended up settling for 15pips..


This was the currency strengths as i entered the trade, the Eur was at the extreme and the Dollar was at the lowest. il this info next time to stay in a trade

another trade AusUsd i waited for price to be above R1 and was targeting R2 which was pretty close


My T.p at R2 was hit at 12pips but it also rallied up to R3


took AudJpy again R1 was close


It eventually closed at 14 pips by R1


my last trade was GbpJpy


the R1 level was way above 30 pips which was an attractive target compared to the others


But i noticed on the minichart that there was a resistance level which looked strong


so took 15 pips when it reached that level at the top band of the Donchian channel and it retraced down and came back up to the exact spot and got stuck again. Maybe it will break eventually i dont know

Thats all for today will post again tommorow. And NO i didnt change strategy lol just having technical issues so improvised, still same rules. Thanks again Hamdy Salah

today first checked the currency strengths and decided to take Aus and Nzd aginst Cad and Jpy which were pretty low

first trade was AudJpy ...


it reached R1 for 15 pips and started lingering there upto now


2nd trade was NzdCad took a trade only to find out there was a resistance area right above


Lost that trade, like Hamady said to someone in the thread, wait for london to open first then take the trade. If i dd that the conditions wouldn't be allowing a trade. lesson learnt, was just trigger happy lol


3rd trade was NzdJpy


10 hours later had to close it at break even


4th trade was AudCad


It rose close to R1 when i was out and came back down, was lingering at entry level 3hrs in US session and closed it at break even.



Will now start working on my exits and also drawing S/R levels from the 4hr and daily with confluences before trading time to help with targets and also potential loses if they are close to the entry. And also the discipline of taking a trade during London session not before no matter how tempting the trade is before. Wish i was around when the thread was in its active stages but i just wanted to do my part and share my experiences to help others aswell.
Cheers!

today 3 trades, targeting nearest pivots , 45pips total

1st trade EurUsd


t.p at S1 hit


2nd trade UsdCad


t.p at R1 hit


3rd trade Gold


was aiming for S2 but noticed on the Daily minichart (the 3rd minichart on the screen) that we were hitting a moving average so closed halfway

I trade from the beginning of London session and the first 3 hours of New York session. Traded 5 trades today, 3 won, 1 lost and closed the other one due to lack of movement at break-even. 45 pips collected today. The white lines are S/R confluence levels at 4hr/daily tf.

first trade EurUsd


target was S3 closed for 15pips


second trade was GbpUsd


target was between the round number and S/R level. 15pips


third trade was UsdCad


closed the trade at breakeven when my closing time reached


fourth trade was UsdJpy


my stoploss got hit at -10 pips. Not sure what went wrong guess it was just a bad trade.


fifth trade was Gold.


Closed at 25pips

only 1 trade today. Gold for 40 pips. Eur and Gpy had news so was avoiding them.


target was S1 for 40pips

What's the indi that prints renko on online chart? Doing offline chart has always been a big discouragement to use Renko.

i know right, its called the Tipu-renko, check the updated version here https://www.mql5.com/en/code/15563

Thanks man am grateful.

Some users from their raised concerns that:
"it is repainting. especially when close chart and open again. it shows different values. can you solve this?"
"It does not draw the most recent box on the chart because it redraws and gives false signals"
Have you notice such during usage or not or solve it?

Also what's the import that it shows different colour within thesame range of time in different timeframe.


Remain pipsful.

Anytime man hey