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Renko channel + Fast EMA = simple and profitable

  • #761
  • Sep 13, 2020 10:54am Sep 13, 2020 10:54am
Quoting Hutch
{quote} Well you made your statement but did not offer any proof. Here is proof that the repainting indicator I use for my day trading is a lot better than three non-repainting indicators of the same category. Please show me a HalfTrend non-repainting indicator that is as good as the one I use in my daily trading. All the HalfTrend indicators shown in the pictures have an amplitude of 2 that I use to trade the DAX using Renko (last hour of trading Friday). HalfTrend TT [x5v4] repaints but gives excellent signals of trend reversal and rarely repaints....
Less than a month ago you didnt even know your indi repaints after a candle close so it may take you again a bit of time to realize that a repainting indi has no predictive value over its NRP version.
On your first hindsight chart, you see all those early signals ? Nice, do you also see the late signals ? No ? Because its the job of your repainting indi to hide all the late/bad entries and make it look cuter than it really is. Thats why the only proof you can bring, is a repainting indi on an hindsight chart with early signals everywhere. If your repainting indi also got some late signals, please post some screenshots of those.
  • #762
  • Sep 13, 2020 3:00pm Sep 13, 2020 3:00pm
Quoting wansiman
{quote} So you buy when it goes from red to green and sell when it goes from green to red ? You don't need an indicator at all
Please take a look at the second sell arrow (22:52) on the HalfTrend TT chart again. Between that sell arrow and the buy arrow at the bottom of the chart there were 2 instances of 2 green bars when the HalfTrend TT indicator did not trigger a buy signal. If I exclusively bought/sold every time there was a color change I would not need the HalfTrend TT indicator. Please note that, in both cases, the 2 instances of 2 green bars would have produced 2 losing trades. Good enough reason for me not to trigger a trade every time there is a color change.
  • #763
  • Sep 13, 2020 3:24pm Sep 13, 2020 3:24pm
Quoting metta87
{quote} Less than a month ago you didnt even know your indi repaints after a candle close so it may take you again a bit of time to realize that a repainting indi has no predictive value over its NRP version. On your first hindsight chart, you see all those early signals ? Nice, do you also see the late signals ? No ? Because its the job of your repainting indi to hide all the late/bad entries and make it look cuter than it really is. Thats why the only proof you can bring, is a repainting indi on an hindsight chart with early signals everywhere....
You are right stating that I did not know that the HalfTrend TT repainted because it had never happened to me but a trader showed me that it did repaint. The reason I had not seen it repaint on me is that I don't use low value Renko bars that traders must use to get any good trade on low ATR pairs. Ok I will post screenshots of late HalfTrend TT signals if I see them but it's highly unlikely on high ATR pairs traded with decent size Renko bars. You can also post screenshots of late HalfTrend TT signals if you want. Please note that there is nothing wrong with the late signals of the Half-Trend NRP_Mladen, HalfTrend 2 and the Half-Trend-buy-sell-indicator since they were probably designed to give signals only after the trend had been confirmed while the HalfTrend TT doesn't wait for further confirmation of the trend.
  • #764
  • Sep 15, 2020 1:56am Sep 15, 2020 1:56am
Quoting Hutch
{quote} Ok I will post screenshots of late HalfTrend TT signals if I see them but it's highly unlikely on high ATR pairs traded with decent size Renko bars.
Im absolutely waiting for this.
  • #765
  • Sep 22, 2020 4:35pm Sep 22, 2020 4:35pm
Quoting metta87
{quote} Im absolutely waiting for this.
I did not get a late signal from HalfTrend TT but I received a bad sell signal at 21:48 today as shown by the "x". This is rare but it happens. No indicator is perfect so I'm still waiting for a late signal.
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  • #766
  • Sep 23, 2020 4:16am Sep 23, 2020 4:16am
Quoting Hutch
{quote} I did not get a late signal from HalfTrend TT but I received a bad sell signal at 21:48 today as shown by the "x". This is rare but it happens. No indicator is perfect so I'm still waiting for a late signal. {image}
Actually you could consider the signal at 21:48 a late signal since there were two red bricks prior to these at 21:02 and 21:22 that didn't generate a signal.
  • #767
  • Sep 24, 2020 3:34am Sep 24, 2020 3:34am
Ho Hutch, trading DAX30 10 pips bricks do you use default input settings with Half Trend Indicator or could you suggest another set up?

Thank you
  • #768
  • Sep 24, 2020 3:53pm Sep 24, 2020 3:53pm
Quoting Alberto_Jazz
Ho Hutch, trading DAX30 10 pips bricks do you use default input settings with Half Trend Indicator or could you suggest another set up? Thank you
No matter what I trade I use a factor of 2 for the HalfTrend TT since it gives good signals on Renko. The default factor of 1 probably works best on time based charts but I don't trade them except for D1 but I don't use any HalfTrend on those.
  • #769
  • Oct 12, 2020 2:25pm Oct 12, 2020 2:25pm
Quoting metta87
{quote} Im absolutely waiting for this.
I did not get a late signal from HalfTrend TT but I received a bad sell signal at 21:48 today as shown by the "x". This is rare but it happens. No indicator is perfect so I'm still waiting for a late signal.

I already posted the late signals now I'm posting what I thought was nearly impossible, repainting on Renko brick size of 20. The first chart shows a down arrow but it disappeared in the second chart after the new Renko brick is positive. The redeeming feature is that at the time the down arrow appeared the FxBay MACD was still positive as it had not yet crossed the zero line so I should not have closed the trade. However, the wick convinced me that it was a reversal and it was time to close the trade.
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  • #770
  • Oct 13, 2020 11:06pm Oct 13, 2020 11:06pm
Quoting Hutch
{quote} I did not get a late signal from HalfTrend TT but I received a bad sell signal at 21:48 today as shown by the "x". This is rare but it happens. No indicator is perfect so I'm still waiting for a late signal. {image}
Actually this x should be your holy grail signal, if you sold at the next up bar, this is garanteed 20 pips. Vice versa for buy. If you check your history, you ll see that it never fails not even once. Very easy to spot especially when you have that much experience with your repainting indi. Now go make your millions.
  • #771
  • Oct 13, 2020 11:10pm Oct 13, 2020 11:10pm
Quoting Hutch
{quote} now I'm posting what I thought was nearly impossible, repainting on Renko brick size of 20.
Nothing new for me nor you, so why do you fool yourself and/or others with those hindsight arrows on your charts ?
  • #772
  • Oct 14, 2020 11:18am Oct 14, 2020 11:18am
Hi Guys.
Wanna say hi to you all and I am new to Renko chart. Happened to learn about this Jap chart type. Seems Renko is very simple to read and able to apply very simple rules to create a profitable system.

I use strategies involving Price Actions and S/R, and running a few EAs on MT4 to auto open/close trades. May I ask for your experience on whether a EA bot can work well on an offline Renko chart and open/close trades?

On the other hand I was experimenting mixing Renko bars with normal candles (Or Renko-like price segments), and found something interesting. Seems a good setup in Renko supported by Engulfing Candles on normal candles [0]-[2] would turn out to be a higher chance winner. Haven't tested it yet but will let you guys know when I have time to look into it.

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  • #773
  • Oct 14, 2020 2:13pm Oct 14, 2020 2:13pm
Quoting metta87
{quote} Nothing new for me nor you, so why do you fool yourself and/or others with those hindsight arrows on your charts ?
I'm not fooling myself or anybody else the HalfTrend TT probably repaints one time a month on a Renko 20 pips chart and many times a day on Renko 2 to 5 pips charts. Don't you think that the HalfTrend TT is way better than non-repainting HalfTrend indicators that always provide a signal one brick after the HalfTrend TT and quite often when the trend is almost over?
  • #774
  • Oct 19, 2020 11:47am Oct 19, 2020 11:47am
Quoting metta87
{quote} Nothing new for me nor you, so why do you fool yourself and/or others with those hindsight arrows on your charts ?
Thank you for putting me on your ignore list I guess you can't handle the truth

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  • #775
  • Oct 21, 2020 12:26pm Oct 21, 2020 12:26pm
Hello and thank you for your work. I tried to follow your terms but after 2 renko 10.0 bricks, the arrow repainted, disappeared, and I lost the trade. And when I test it in other pairs, it repeats, of course mostly occurs in 5.0 bricks. Cant add a scrrenshot right now, but saved it if you want to see
  • #776
  • Oct 21, 2020 5:20pm Oct 21, 2020 5:20pm
Quoting psynapse
Hello and thank you for your work. I tried to follow your terms but after 2 renko 10.0 bricks, the arrow repainted, disappeared, and I lost the trade. And when I test it in other pairs, it repeats, of course mostly occurs in 5.0 bricks. Cant add a scrrenshot right now, but saved it if you want to see
Last Friday a trader sent me a private message to learn more about my strategy. Here was my reply "
It's a simple system and you would think that following the arrows is all you have to do and you would be right most of the time but not always. The main component of my system is the FxBay MACD. If the MACD line just crossed the zero line on the way up it's a buy and the opposite for a sell. Although rare the Half Trend TT sometime gives a bad signal. It happened to me yesterday when it gave a sell arrow signal when the FxBay MACD had not crossed the zero line on the down side so I did not take the sell trade but I still closed my buy trade just in case the next brick would be red. The Half Trend TT repaints but this is also rare so you always need to rely more of the FxBay MACD instead of the Half Trend TT. I just posted a WTI chart with Renko 10 pips in the link
https://www.energyexch.com/thread/post/13218531#post13218531
As you can see there are 4 arrows. The first 3 are perfect trades since the FxBay MACD zero line crossed at the Renko brick after the arrow printed. The last arrow is most likely a repainter and, if this is the case, will disappear when the next brick is formed. This is because the size of the Renko brick is a big 25.2 pips as shown by the Infoboard indicator (Current Bar Hi-Lo) and looking at the FxBay MACD you can see that the MACD line is quite far from the zero line. On a bad signal the arrow stays but you can clearly see that the zero line of the FxBay MACD had not crossed or had crossed only a little before continuing in the same direction. You can say that these are tips but they are not tricks. The bottom line is that you have to learn to follow the Half Trend TT and the FxBay MACD with a third indicator which is the best that you have it's called your eyes. This system is quite good at trading anything using Renko 10 pips or bigger (best are all GBP pairs and CFDs) but but I would not recommend it for trading low ATR pairs such as EURUSD or USDCAD since you would need Renko of 5 pips or less. The more you trade that system the better you will get at discerning anomalies and detecting them will increase your profits."

The link shows Friday's chart and as I thought the arrow was a repainter and disappeared at the start of Monday's trading when the red brick became fully formed then was followed by a light blue brick. Here is Friday's and Monday's WTI chart and you will see that the arrow disappeared but you will also see that the FxBay MACD never crossed the zero line on the down side. As I said it's a good strategy but like all strategies it takes time before you learn it enough to master it.
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  • #777
  • Oct 23, 2020 9:58am Oct 23, 2020 9:58am
Quoting psynapse
Hello and thank you for your work. I tried to follow your terms but after 2 renko 10.0 bricks, the arrow repainted, disappeared, and I lost the trade. And when I test it in other pairs, it repeats, of course mostly occurs in 5.0 bricks. Cant add a scrrenshot right now, but saved it if you want to see
It is worthless like all repainting indis, save yourself some time and drop it.
  • #778
  • Oct 23, 2020 3:56pm Oct 23, 2020 3:56pm
Quoting metta87
{quote} It is worthless like all repainting indis, save yourself some time and drop it.
Of course for you it's worthless like all repainting indicators. This is because you haven't learned yet on how to use all indicators properly and especially those that repaint. Instead of complaining you need to post your strategy to prove to traders here that it's better than mine.
  • #779
  • Oct 23, 2020 6:09pm Oct 23, 2020 6:09pm
Quoting metta87
{quote} It is worthless like all repainting indis, save yourself some time and drop it.
Perhaps this will help you: https://www.forexfactory.com/thread/...4#post13219524
  • #780
  • Oct 24, 2020 2:42pm Oct 24, 2020 2:42pm
Quoting pantera1
{quote} Perhaps this will help you: https://www.forexfactory.com/thread/...4#post13219524
Bs thread, go try it first and let's see your results in a month or two.
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