Attachments: Renko trading using proven strategy

Renko trading using proven strategy

#81
May 15, 2020 6:04am May 15, 2020 6:04am

Hutch
Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts

Quoting FXsniper111

Disliked

{quote} Why are there no wicks i guess you have pullbacks also on the bricks??

Ignored

Of course there are pullbacks on the bricks and on the wicks but I don't use wicks since I like a clean chart.

#82
May 15, 2020 6:15am May 15, 2020 6:15am

fortaleza
| Joined Nov 2008 | Status: Trader | 72 Posts

hi hutch.
thanks.
can you tell me how to set 67min charts?
and how to stop/not show wicks?
which pairs you regularly trade with your macd setting 3,4,0 ?
how can switch from candlestick to renko charts?

thanks
rgds

#83
May 15, 2020 6:16am May 15, 2020 6:16am

FXsniper111
Joined Dec 2018 | Status: Trader | 881 Posts

Quoting Hutch

Disliked

{quote} Of course there are pullbacks on the bricks and on the wicks but I don't use wicks since I like a clean chart.

Ignored

less noice of course...

Insanity

oing same ting over expecting different results..Einstein

#84
May 15, 2020 8:02am May 15, 2020 8:02am

FXsniper111
Joined Dec 2018 | Status: Trader | 881 Posts

Quoting Hutch

Disliked

{quote} Of course there are pullbacks on the bricks and on the wicks but I don't use wicks since I like a clean chart.

Ignored

Here is a trade i took,but i got out to early and left a lot on the table,but a perfect setup third leg... 30 pips

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Insanity

oing same ting over expecting different results..Einstein

#85
May 15, 2020 8:15am May 15, 2020 8:15am

mag00
Joined Jul 2016 | Status: Trader | 1,453 Posts

Hi FXsniper111,

looks interesting:
double channel renko strategy ...

P.S.
could you give ,
please,
more details
(indicators, templates, settings)?

... panta rei ... (Heraclitus of Ephesus, 535-475 BC)

#86
May 15, 2020 8:40am May 15, 2020 8:40am

FXsniper111
Joined Dec 2018 | Status: Trader | 881 Posts

Quoting mag00

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Hi FXsniper111, looks interesting: double channel renko strategy ... P.S. could you give , please, more details (indicators, templates, settings)?

Ignored

Thoose are just there for some confirmation really its more abaut have two legs in nice strings one long string pointing out direction and then a small pullback and enter on second box on the third leg in direction of the first leg.....If choppy like one box one way and two another i stay out need nice whole strings with clear direction....

Insanity

oing same ting over expecting different results..Einstein

#87
May 15, 2020 11:09am May 15, 2020 11:09am

Hutch
Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts

Quoting discussion

Disliked

Hi need help my renko charts stay on the left of my screen, any reason for that. {image}

Ignored

Normally there are two main reasons:

1. Not enough M1 candles. To get more M1 candles keep pressing "Home" and you will get more M1 candles. 2-3 days of M1 candles is enough to get a good Renko chart; or/and

2. Your choice of Renko bricks is too big for the number of M1 candles that you have. I mainly trade GBP pairs using 10 pips Renko bricks.

#88
May 15, 2020 11:51am May 15, 2020 11:51am

Hutch
Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts

Quoting fortaleza

Disliked

hi hutch. thanks. can you tell me how to set 67min charts? and how to stop/not show wicks? which pairs you regularly trade with your macd setting 3,4,0 ? how can switch from candlestick to renko charts? thanks rgds

Ignored

1. On your source M1 chart put the STG Renko Chart indicator. In the input tab write 67 for "Offline Timeframe start" to get a chart named M67. Choose False for the "Show the wicks of candles" and no wicks will be shown except when a new candle is forming.

2. The Fx Bay MACD setting of 3,4,0 is good for currency pairs (I prefer GBP pairs), CFD's or stocks.

3. You can have a normal timeframe chart and a Renko chart for the same currency pair. You can use a H1 chart to produce the STG Renko charts by choosing the timeframe (last option on the input tab). You have to make sure that you choose the template for your timeframe chart before you apply the STG Renko chart.

Here is a H1 DAX chart with an Ichimoku template and the STG Renko chart indicator and the produced DAX Renko chart with a value of €5 per brick.

This example clearly shows how versatile the STG Renko indicators are. Enjoy

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#89
May 15, 2020 4:13pm May 15, 2020 4:13pm

Intrepidpips
Joined Aug 2011 | Status: Mos P from Cape to Cairo | 2,713 Posts | Online Now

Quoting discussion

Disliked

Hi need help my renko charts stay on the left of my screen, any reason for that. {image}

Ignored

Download this script and drop it on your M1 chart and all your MT4 history will be downloaded.

https://ovo.cz › free-mt4-utilities › l...
Web results
Load All History - OVO Charting Tools - ovo.cz

Let it turn and find your entry.

#90
May 17, 2020 1:43pm May 17, 2020 1:43pm

neilpryde
| Joined Dec 2009 | Status: Trader | 53 Posts

Quoting Hutch

Disliked

{quote} 1. On your source M1 chart put the STG Renko Chart indicator. In the input tab write 67 for "Offline Timeframe start" to get a chart named M67. Choose False for the "Show the wicks of candles" and no wicks will be shown except when a new candle is forming. 2. The Fx Bay MACD setting of 3,4,0 is good for currency pairs (I prefer GBP pairs), CFD's or stocks. 3. You can have a normal timeframe chart and a Renko chart for the same currency pair. You can use a H1 chart to produce the STG Renko charts by choosing the timeframe (last option on...

Ignored

Hello Hutch,
Thanks for helping so much for us. I really appreciate your efforts.
Can I ask some more?
What brick size did you use for Dow ?
When you trade the Daily time frame, do you also use Renko ? What brick size ?
Thanks
Sz

#91
May 17, 2020 2:34pm May 17, 2020 2:34pm

Hutch
Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts

Quoting neilpryde

Disliked

{quote} Hello Hutch, Thanks for helping so much for us. I really appreciate your efforts. Can I ask some more? What brick size did you use for Dow ? When you trade the Daily time frame, do you also use Renko ? What brick size ? Thanks Sz

Ignored

I made a few DOW trades but I'm not an expert. FXSniper stated in post #66 that he uses 600 points ($6) brick size so with his wealth of experience it's best to follow his advice. By definition Renko has no timeframe only price action so like other day traders I use exclusively D1 charts. Of course you could use Renko to approximate the D1 timeframe candle but I have never seen anybody recommending that.

#92
Edited 12:17pm May 18, 2020 12:04pm | Edited 12:17pm

jarfx05
Joined Sep 2014 | Status: FF is a waste of time | 1,361 Posts

GN 10p

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DAX

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if you're doing we all have results with all

#93
May 18, 2020 1:03pm May 18, 2020 1:03pm

Hutch
Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts

Quoting jarfx05

Disliked

GN 10p {image} DAX {image}

Ignored

Looking at your GN chart do you rely more on the half-trend indicator (not sure it is) or your MA strength indicator to enter/exit trades?

#94
May 18, 2020 2:34pm May 18, 2020 2:34pm

jarfx05
Joined Sep 2014 | Status: FF is a waste of time | 1,361 Posts

Quoting Hutch

Disliked

{quote} Looking at your GN chart do you rely more on the half-trend indicator (not sure it is) or your MA strength indicator to enter/exit trades?

Ignored

These two indicators work together and show the beginnings and ends of swings well. There are no perfect indicators.

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if you're doing we all have results with all

#95
May 18, 2020 3:34pm May 18, 2020 3:34pm

FXsniper111
Joined Dec 2018 | Status: Trader | 881 Posts

Quoting jarfx05

Disliked

{quote} These two indicators work together and show the beginnings and ends of swings well. There are no perfect indicators. {image}

Ignored

Looks very easy to trade buy at blue sell at pink is it that good live too???

Insanity

oing same ting over expecting different results..Einstein