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Renko trading using proven strategy

  • #221
  • Jul 24, 2020 1:07pm Jul 24, 2020 1:07pm
Quoting Mr.Tea
Morning I testet both half trend nrp mladen and halftrend MTF, i think at this point we should say there are no essential differents between those half trend indicators. amplitude setting 1 {image}
You are right they are the same. Here are two charts with half trend TT amplitude 2 and yellow arrows. The first chart also has half trend nrp mladen amplitude 1 and the second chart with half trend nrp mladen amplitude 2. Half trend nrp mladen amplitude 1 gives too many signals. Half trend nrp mladen amplitude 2 gives good signals but 2 bricks after the half trend TT. Conclusion half trend TT amplitude 2 is better
Attached Image(s) (click to enlarge)
Click to Enlarge Name: half trend nrp mladen 1.png Size: 41 KB
Click to Enlarge Name: half trend nrp mladen 2.png Size: 38 KB
  • #222
  • Jul 26, 2020 9:00am Jul 26, 2020 9:00am
Quoting Hutch
{quote} You are right they are the same. Here are two charts with half trend TT amplitude 2 and yellow arrows. The first chart also has half trend nrp mladen amplitude 1 and the second chart with half trend nrp mladen amplitude 2. Half trend nrp mladen amplitude 1 gives too many signals. Half trend nrp mladen amplitude 2 gives good signals but 2 bricks after the half trend TT. Conclusion half trend TT amplitude 2 is better {image} {image}
Hey Hutch,

I noticed you put up half trend compiled version i do have the source (attached) I'm sure there would be someone perhaps yourself, who would like push notifications and alert on bar close rather than when the renko candle is still forming, I'm no coder but its here for some one to add the code.
Attached File(s)
File Type: mq4 HalfTrend TT [x5v4]source.mq4   11 KB | 1,066 downloads
  • #223
  • Jul 26, 2020 2:46pm Jul 26, 2020 2:46pm
Quoting leweg1
{quote} Hey Hutch, I noticed you put up half trend compiled version i do have the source (attached) I'm sure there would be someone perhaps yourself, who would like push notifications and alert on bar close rather than when the renko candle is still forming, I'm no coder but its here for some one to add the code. {file}
Sorry Lewis but I'm not a programmer either. In any case you have the choice to put the alert on current bar or not. If you want changes to the indicator please request it using this thread

https://www.forexfactory.com/thread/...?goto=lastpost
Attached Image
  • #224
  • Jul 26, 2020 3:00pm Jul 26, 2020 3:00pm
Quoting Hutch
{quote} Sorry Lewis but I'm not a programmer either. In any case you have the choice to put the alert on current bar or not. If you want changes to the indicator please request it using this thread https://www.forexfactory.com/thread/...?goto=lastpost {image}
Hey no worries mate, thought i would put it up if no use to you bud someone will find use for it, i use half trend nrp mladen with renko as it had the push notification when im out and about. Good trading mate
  • #225
  • Jul 27, 2020 1:48am Jul 27, 2020 1:48am
Hey Hutch
Thank you for your comparison!
It looks like TT gives less noise and is more accurate, i will try it.
How do you handle your Exit?
Right now im trying to take x2 from my stopp to locate my Exit (temporary) and start trailing if Price moves in higher Trend direction.
  • #226
  • Jul 27, 2020 2:41pm Jul 27, 2020 2:41pm
Quoting Mr.Tea
Hey Hutch Thank you for your comparison! It looks like TT gives less noise and is more accurate, i will try it. How do you handle your Exit? Right now im trying to take x2 from my stopp to locate my Exit (temporary) and start trailing if Price moves in higher Trend direction.
I normally exit the trade when:
1. On the first opposite half trend arrow;
2. Wait until the Fx Bay MACD crosses the zero line;
3. After a number of Renko bricks (I normally use a Stop Loss of 3 bricks).
  • #227
  • Jul 27, 2020 3:23pm Jul 27, 2020 3:23pm
Quoting Hutch
{quote} I normally exit the trade when: 1. On the first opposite half trend arrow; 2. Wait until the Fx Bay MACD crosses the zero line; 3. After a number of Renko bricks (I normally use a Stop Loss of 3 bricks).
Thankyou! may ask you to show some trade in live position here ? it is beter if it was eurusd!
  • #228
  • Jul 28, 2020 1:59pm Jul 28, 2020 1:59pm
Quoting arya.aryaee
{quote} Thankyou! may ask you to show some trade in live position here ? it is beter if it was eurusd!
Sorry but I don't trade EURUSD because of the low ATR (less than 100) that requires low Renko bricks. I will try tomorrow
  • #229
  • Jul 29, 2020 3:56am Jul 29, 2020 3:56am
Quoting arya.aryaee
{quote} Thankyou! may ask you to show some trade in live position here ? it is beter if it was eurusd!
EURUSD is crap but I made one trade buying on retracement (first chart) and closing after the first opposite half trend arrow (second chart) making a fantastic profit of $63
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Bought on Retracement.png Size: 31 KB
Click to Enlarge Name: EURUSDM67-63.png Size: 32 KB
  • #230
  • Jul 29, 2020 8:35am Jul 29, 2020 8:35am
Quoting Hutch
{quote} EURUSD is crap but I made one trade buying on retracement (first chart) and closing after the first opposite half trend arrow (second chart) making a fantastic profit of $63 {image} {image}
Good result.
I see you entered mid brick (4 pips size) based on the half trend arrow that are would have disappeared had the instrument gone South with you on a long position, what would you normally do in such situations?
Let it turn and find your entry.
  • #231
  • Jul 29, 2020 11:04am Jul 29, 2020 11:04am
Quoting Intrepidpips
{quote} Good result. I see you entered mid brick (4 pips size) based on the half trend arrow that are would have disappeared had the instrument gone South with you on a long position, what would you normally do in such situations?
My biggest problem is that I'm not a EURUSD trader so I have little experience trading that pair. The only reason I initiated that trade was to answer arya.aryaee. With a small Renko brick size it's best to close the trade on the first opposite arrow. If the bricks had been 10 pips and I would already have made a substantial profit I would have left the trade run until I would have had 3 opposite side bricks (Trailing stop of 30 pips). Unfortunately this is totally impossible with trading EURUSD because of the very low ATR. This was my first EURUSD trade this year and probably the last
  • #232
  • Jul 30, 2020 6:14am Jul 30, 2020 6:14am
Hi @Hutch,

is there an alert for when a brick closes?
In It To Win
  • #233
  • Jul 30, 2020 8:50am Jul 30, 2020 8:50am
Quoting Waih
Hi @Hutch, is there an alert for when a brick closes?
I don't have an indicator that provides an alert when a brick closes but you might want to try these
Attached File(s)
File Type: ex4 RenkoColorChangeAlarm.ex4   3 KB | 580 downloads
File Type: mq4 RenkoColorChangeAlarm.mq4   2 KB | 712 downloads
File Type: ex4 New_Candle_Alarm.ex4   7 KB | 521 downloads
File Type: mq4 New_Candle_Alarm.mq4   2 KB | 653 downloads
  • #234
  • Jul 30, 2020 9:23am Jul 30, 2020 9:23am
Quoting Hutch
{quote} I don't have an indicator that provides an alert when a brick closes but you might want to try these {file} {file} {file} {file}
Oooooh yes! this will do sir. Very much appreciated.

Thanks a bunch
In It To Win
  • #235
  • Jul 31, 2020 5:07am Jul 31, 2020 5:07am
Hi @Hutch, thank you for sharing knowledge.

I tried your system but it was repainted so badly, could you give some advice how to handle the trade, especially when the arrow keep appear and disappear all the time.

Looking forward to hear your advice.
Many thanks.
CB .
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 83 KB
On my way!
  • #236
  • Jul 31, 2020 1:03pm Jul 31, 2020 1:03pm
Quoting CoolBuddy
Hi @Hutch, thank you for sharing knowledge. I tried your system but it was repainted so badly, could you give some advice how to handle the trade, especially when the arrow keep appear and disappear all the time. Looking forward to hear your advice. Many thanks. CB . {image}
The half trend TT does repaint but only on the current candle not after it has closed. Also I don't use the MA crossover. Unless you have a VPS it is best to refresh he Renko chart by changing the candle size then go back to the size you want to trade with. Here is the result for EURJPY.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM67.png Size: 24 KB
  • #237
  • Edited 11:07pm Jul 31, 2020 10:49pm | Edited 11:07pm
Different Brokers feed can give different results but I guess every one knows this......There are many ways to Skin a Cat so I guess one must find what suits them best.....Congratulations to Hutch for taking the time to present and explain his Renko chart......I trade 4Hr and Renko and usually use a larger brick size...Just a personal preference.
R
Ronnie Renko
  • #238
  • Jul 31, 2020 10:50pm Jul 31, 2020 10:50pm
Quoting Ced74
Different Brokers feed can give different results but I guess every one knows this......There are many ways to Skin a Cat so I guess one must find what suits them best.....Congratulations to Hutch for taking the time to present and explain his Renko chart......I trade 4Hr and Renko and usually use a larger brick size...Just a personal preference. R Here are two 10 pip charts from different Brokers. R {image} {image}
Where are your wicks ?
  • #239
  • Jul 31, 2020 10:56pm Jul 31, 2020 10:56pm
I use a commercial Renko EA which does not have wicks....Just suits me fine....Again just my preference after 19 years using Renko....What works for one person may not work for another.
R
Ronnie Renko
  • #240
  • Jul 31, 2020 10:59pm Jul 31, 2020 10:59pm
Quoting Ced74
I use a commercial Renko EA which does not have wicks....Just suits me fine....Again just my preference after 19 years using Renko....What works for one person may not work for another. R
I know a few like you but I wonder what edge does it have over " wicked" renko, how do you know the high or low of each bars etc...
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