https://www.forexfactory.com/thread/post/13010678#post13010678
Renko trading using proven strategy
- #301
- Edited 3:55pm Aug 12, 2020 3:21pm | Edited 3:55pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
- #302
- Aug 12, 2020 3:33pm Aug 12, 2020 3:33pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
- #303
- Aug 12, 2020 3:49pm Aug 12, 2020 3:49pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
Dear @Hutch senpai, I only start learning FX for more than 2 months, but i spent a lot of time reading and testing things out, thanks @Hutch for always helping newbie, @Jarfx05 for mysterious knowledge, @Interpidpips for your passion, and @havo maybe you know he is famous for the love of renko, i don't know why he is not participate in this thread. I read previous posts from you @Hutch, and i know you don't like people who complaining about repaint indicator instead of trying to make them work for you. But out of other people, you always stick to...
I don't mind about traders complaining about repainting indicators since all posts add value even if they are negative. This is the reason why I don't have anyone on my ignore list. We must all respect other traders no matter what. Best is to know your indicators and adapt to repainting indicators. I must admit that when I started trading forex in 2005 I was as confused and lost as you are. Whether you win or lose a trade you are learning and gaining experience and this will make you a better trader. I don't like EAs so even if someone produce one for my system I would not use it. The reason I say this is that I don't trust EAs and sometime their logic are flawed. Mr. Tea in post #299 above is totally right stating that "keep the light on, at the End its your personal decision and not the arrow ones...".
- #304
- Aug 12, 2020 6:40pm Aug 12, 2020 6:40pm
- Joined Sep 2014 | Status: FF is a waste of time | 1,361 Posts
{quote} Look at these two pictures and you will understand I still prefer Half Trend TT. First picture Half Trend TT. Second picture Half Trend 2. {image} {image}
if you're doing we all have results with all
- #305
- Aug 13, 2020 2:00pm Aug 13, 2020 2:00pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
{quote} HT TT can repaint even after 2 bricks. There are no perfect indicators. We don't trade arrows so it's not a problem. {image}{image}
- #306
- Aug 14, 2020 5:52pm Aug 14, 2020 5:52pm
- Joined Sep 2014 | Status: FF is a waste of time | 1,361 Posts
if you're doing we all have results with all
Ahoi jarfx
Would you like to explain your currency dashboard?
At the Moment im observing 3-4 pairs and set my alerts to them.
In the near future i would like get an better Overview about more currencys to catch possible trends on other pairs.
Did someone tried two diffrent renko size for Trend/ Entry (12/3 Brick) ?
Would you like to explain your currency dashboard?
At the Moment im observing 3-4 pairs and set my alerts to them.
In the near future i would like get an better Overview about more currencys to catch possible trends on other pairs.
Did someone tried two diffrent renko size for Trend/ Entry (12/3 Brick) ?
- #309
- Aug 15, 2020 6:09am Aug 15, 2020 6:09am
- Joined Sep 2014 | Status: FF is a waste of time | 1,361 Posts
if you're doing we all have results with all
- #310
- Edited 6:34am Aug 15, 2020 6:17am | Edited 6:34am
- Joined Sep 2014 | Status: FF is a waste of time | 1,361 Posts
Ahoi jarfx Would you like to explain your currency dashboard?
PS
Looking at your chart I think the donchian chanel will be helpful for you. Read about the Turtle Way strategy
if you're doing we all have results with all
These are my 3 Pairs and 1 on/off Pair most of the Time Gold or BTC.
In combination with supply/demand zones, Price detection and Open/Close im fine with it.
I dont know if i want to use indicators, i still struggle with it. I love to have a clean view on Price.
RMI is nice to get some Momentum information or some EMA to ride along. I will test Donchian chanel on one pair, thx for advice.
Exit/Greed Faktor is still something i need to handle with. (There are some things i need to adjust on my rules to build up a healthy wealth balance)
There is still a lot of Homework to do, i get some Turtle Way books here and will take a closer look into them.
Happy Weekend to all
In combination with supply/demand zones, Price detection and Open/Close im fine with it.
I dont know if i want to use indicators, i still struggle with it. I love to have a clean view on Price.
RMI is nice to get some Momentum information or some EMA to ride along. I will test Donchian chanel on one pair, thx for advice.
Exit/Greed Faktor is still something i need to handle with. (There are some things i need to adjust on my rules to build up a healthy wealth balance)
There is still a lot of Homework to do, i get some Turtle Way books here and will take a closer look into them.
Happy Weekend to all
- #312
- Edited 11:09pm Aug 16, 2020 4:43am | Edited 11:09pm
- Joined Dec 2018 | Status: Trader | 1,271 Posts
Ced74 your screen looks like a van Gogh painting
1/ what is it you use in the lower window?
2/ In Renko you dont apply TL, and expect change in renko's trend when TL is broken?
3/ Could you apply rule like using DOW 3 point principle, similar the quest in determine trend: find Initial new structure INS then when price broken last swing high/low we have new structure high/low (NSH/NSL) and confirm price direction change
4/ could we apply rule of fibo retracement/extension on renko
5/ if fibo is applicable, pullback seems rarely follow rule (not going to the expect 38.2%, 50%, 70%) how do we explain?
6/ in your renko chart, do you always apply renko brick builder script on base chart M1, or you apply it also on base chart higher TF( and which high TF)
7/ if I use keltner channel together with renko and argue each time renko breaks out of channel line and channel direction changed, I expect renko chart will move to the opposite channel line. what your opinion on it... Nonsense and what argument?
8/ MA/EMA often used in normal chart as dynamic S and R zone, if use EMA50 with renko and follow rule like stay in the price until EMA broken again; trend is up/down if EMA12 cross up/down EMA36; or renko trend up/down if it is above/under EMA200 etc. would it be safe, or just coincident?
9/ if I draw up a rule: Use MA price band length 50 apply on close and on open on renko chart and setup rule, when cross up and STOCH heads to OB area, I buy and stay until broken; if renko cross down and STOCH points down to OS area until broken, SL is one brick.... would you say it is sane? or phantasie?
10/ what are you using to create your offline chart? I just found a bug in the commercial MeanRenkoBar.ex4 renko chart generator: Generated Brick size is double what you want in the setup!... Very shocking to the bone.
Dank schoene fuer deiner Zeit you take fuer die antworten (Thank you for your time to reply)
PS:
You publish your analyses, ideas on tradingview under Mt_T_ for the public view?
- #313
- Edited 6:31am Aug 16, 2020 5:16am | Edited 6:31am
- Joined Dec 2018 | Status: Trader | 1,271 Posts
- #314
- Aug 16, 2020 11:04pm Aug 16, 2020 11:04pm
- Joined Dec 2018 | Status: Trader | 1,271 Posts
{quote} Trading is a boring job. I like to test everything that belongs to the Renko family.
When I use meanrenkobar.ex4 as an indicator to generate offline chart, on the offline chart I measure the brick size, it is double the value in the setup box, in the box 100 (100 points=10pips), brick size on chart =200 points or 200pips, Is it mean to be so!
I download the meanrenkobar.ex4 from the Vdubrenko.zip the meanrenkobar.ex4 was compile 14/5/2020 so quite recent
- #317
- Aug 17, 2020 2:53pm Aug 17, 2020 2:53pm
- Joined Apr 2010 | Status: Lazy trader on D1 charts | 5,901 Posts
@Hutch
Thank you for all your input, as well as all members here. I am an experienced price action trader but am new to renko and boy is it cool to me! I have a couple of questions for you particularly if you don't mind:
1. why is it important to have a m67 TF if renko doesn't take into account time at all?
2. to be more clear on your entry requirements, do you wait for all three to occur before you enter (arrow, half trend color change, and zero cross), or just one to?
3. I am having the same problem as a previous post with not enough bricks when the chart is initially set up (see below). Your solution mentioned clicking "home" but I'm not sure what you are referencing
Thank you very much. Trying to trade as similarly as an experienced renko trader such as yourself for now until I get the hang of it
Thank you for all your input, as well as all members here. I am an experienced price action trader but am new to renko and boy is it cool to me! I have a couple of questions for you particularly if you don't mind:
1. why is it important to have a m67 TF if renko doesn't take into account time at all?
2. to be more clear on your entry requirements, do you wait for all three to occur before you enter (arrow, half trend color change, and zero cross), or just one to?
3. I am having the same problem as a previous post with not enough bricks when the chart is initially set up (see below). Your solution mentioned clicking "home" but I'm not sure what you are referencing
Thank you very much. Trying to trade as similarly as an experienced renko trader such as yourself for now until I get the hang of it
- #319
- Edited 3:25am Aug 18, 2020 2:41am | Edited 3:25am
{quote} if Mr_T_ could not reply, it is possible that any other members could help me shed light on the points I ask, I think it would be useful for newbies to improve or learning or avoiding mistake while using RENKO chart. I am grateful for any opinion when it helps to clear the cloud of uncertainty
It looks like you are sitting on a table and want that i have to serve you dish by dish and you are only eating.
There is no afford to read the hole thread or look for some other renko threads, otherwise you would know how to set up Renko. Im old and i teached a lot of people in other things but i was only teaching guys who wants to get knowledge.
Im new to MT4,i spend one week to check how everything works and even how to creat Renko. So if you can play with a Smartphone i would mind you will get into MT4 too.
Again this is maybe a bad Answer to all your questions but for me it feels like you dont have done your Homework and this is subjektiv.
To your Questions
1: read the howl thread, i explained what it is.
2: i use TL for other reasons but i think it should work with it, need some test.
3: -
4+5: cant tell you im not using it.
6: read about Renko
7: i use most most of the time clean clean charts
8: i dont use ema cross, testing Something else
9: i dont use stoch
10: there are a few nice Renko offline builder in this Forum, Hutch give you a hint.
Would be nice if you setup your MT4 and test your questions and give us some advice if it work or not
that would be nice, keep it up!No, i dont publish my work.
Do you follow a Strategy?
Mr.T
