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Quoting NgoTrader
{quote} Thank you for replying to me. For a while of testing, it shows that the STANDARD RENKO is perfect, the price movement in both Online and Offline Chart is the same, very nice to use. I have used the MEAN Renko but it seems like whenever the current bar is finished, it causes some delay to create the Next ones while the price keeps moving away. I've screenshotted that moment of lagging on the MEAN RENKO chart, it has the current bar finished, and the price keeps moving down in the Online chart, but the Mean Renko chart seems slow to create...
Now I understand... must say that I have never used mean renko. Therefore it is more likely to contain fundamental errors. Sorry. Will check it out sometime in the future.
Otherwise use the OVO product. Very good and stable. ps: no, I am not OVO.
Quoting tgdrela1
{quote} Now I understand... must say that I have never used mean renko. Therefore it is more likely to contain fundamental errors. Sorry. Will check it out sometime in the future. Otherwise use the OVO product. Very good and stable. ps: no, I am not OVO.
What you are doing is awesome, I just give some feedback to make it better and better. Admire the great contribution to the community from you ^^
  • Post #403
  • Quote
  • Edited Nov 3, 2020 2:59am Nov 2, 2020 9:31am | Edited Nov 3, 2020 2:59am
So this is a reversal trade... even so I hate them.
Indicators
HMA 81 ,HMA 9, Envelop bands, OsMA, TDI
Why reversal - Strong uptrend during the day, touch the 50 line, 9 HMA entering back into the 81, end of London coming up,
risking 60 USD and could make 190 USD
Attached Image (click to enlarge)
Click to Enlarge Name: dafd210eb853541c3162f07ff773f5e1.png Size: 237 KB

And on the 1 MIN it is not moving.... bastard
Attached Image (click to enlarge)
Click to Enlarge Name: 4acd3cc52c98b093e63d94ee03e92f37.png Size: 192 KB

And the result was a loss......
Attached Image
Quoting tgdrela1
So this is a reversal trade... even so I hate them. Indicators HMA 81 ,HMA 9, Envelop bands, OsMA, TDI Why reversal - Strong uptrend during the day, touch the 50 line, 9 HMA entering back into the 81, end of London coming up, risking 60 USD and could make 190 USD {image} And on the 1 MIN it is not moving.... bastard {image}
Reversal trades are alright since, as traders, we all need to swing both ways
For all last 3 post:

https://www.forexfactory.com/thread/...erator-for-mt4
I've seen things you people wouldn't believe
[quote = Trader-IT; 13269779] Für alle letzten 3 Beiträge: https://www.forexfactory.com/thread/...erator-for-mt4 [/ quote]

Thank you - i asked Because i read that @hutch sometimes uses a different builder for indices...
Quoting dr.butze
[quote = Trader-IT; 13269779] Für alle letzten 3 Beiträge: https://www.forexfactory.com/thread/...erator-for-mt4 [/ quote] Thank you - i asked Because i read that @hutch sometimes uses a different builder for indices...
No problem.
Renko maker tested and used (in the past) also on de30 - us500 - us2000 - hk50 - jp225.
Also great on XAUUSD (not an index, I know ).

I don't know specifically, but I believe @hutch mostly uses this.
After all, it is truly the most reliable

Quoting Trader-IT
{quote} Thanks Lawrence for your work and the time you have devoted to helping. Perfect tool. It made my life easier, because it allowed me first, to get close and then to use the Renko charts on the MT4, with a certainty of the displayed result. I can say it, after having dedicated a few hundred hours to the study of Renko charts and tests on all indicators and EAs available on the Internet, for its creation. Your tool was and remains - currently - the most reliable.... Thanks anyway.
I've seen things you people wouldn't believe
[quote = Trader-IT; 13270274] {quote} Kein Problem. Renko Hersteller getestet und verwendet (in der Vergangenheit) auch auf de30 - us500 - us2000 - hk50 - jp225. Auch toll auf XAUUSD (kein Index, ich weiß ). Ich weiß es nicht genau, aber ich glaube, @hutch verwendet dies meistens. Immerhin ist es wirklich das zuverlässigste {quote} [/ quote]

thank you
for the indizes a brick size of 200 is recommended
What size should be used for gold?
Quoting dr.butze
[quote = Trader-IT; 13270274] {quote} Kein Problem. Renko Hersteller getestet und verwendet (in der Vergangenheit) auch auf de30 - us500 - us2000 - hk50 - jp225. Auch toll auf XAUUSD (kein Index, ich weiß ). Ich weiß es nicht genau, aber ich glaube, @hutch verwendet dies meistens. Immerhin ist es wirklich das zuverlässigste {quote} [/ quote] thank you for the indizes a brick size of 200 is recommended What size should be used for gold?
I was quite comfortable with 125, which are pips on xauusd. 1 lot= 125$
I've seen things you people wouldn't believe
Quoting Trader-IT
{quote} I was quite comfortable with 125, which are pips on xauusd. 1 lot= 125$
PS:
Remember that what you set in the STS are pips for xauusd
I've seen things you people wouldn't believe
[quote = Trader-IT; 13270490] {quote} PS: Denken Sie daran, dass das, war Sie im STS gehört haben, Pips für xauusd sind [/ quote]

vielen Dank

tomorrow I’ll Start on Demo
Quoting Trader-IT
{quote} PS: Remember that what you set in the STS are pips for xauusd
Actually STS works in points not pips. Please take a look at the source chart and the Renko chart. 100 points = 10 pips.
Attached Images (click to enlarge)
Click to Enlarge Name: XAUUSDH1.png Size: 27 KB Click to Enlarge Name: XAUUSDM67.png Size: 33 KB
VALUE OF THE PIP IN XAUUSD.
This post is very long, but I ask everyone to read it and (above all) to reread it well, so that it is correctly understood.
Please, do not extrapolate a word or phrase from the total context as usual. Try to have an open mind.
I have around 950 hours of trading done exclusively with XAUUSD, in manual mode ... with my eyes constantly on the chart. I believe I can speak with some certainty on this issue.

So, I have been trying to NOT address this topic for years. Now I think I can have my say.
I know ... it's a losing battle. Another of the many.
It is difficult for a person who has a conviction to admit that he is wrong, and here I speak in general without referring to anyone in particular.

There is always a lot of confusion about the spread size, daily range and pip value in XAUUSD.
Confusion mainly caused by an unregulated market and some brokers who:
- or they don't know the difference (I've seen this too)
- or provide incorrect information for their own benefit.

In many cases, the gold (xauusd) is (wrongly) associated with Forex. This happens - often - when the Broker offers the classic 28 currency pairs + XAUUSD. In order not to scare and distract traders from this 29th asset, they prefer to say for example "xausd has a spread of 2 pips", instead of 20 as it actually is.

On the other hand, to think that an instrument like XAUUSD - which is HIGHLY VOLATILE, more than any other pair - has a 10 day ADR of 364 pips, with a value of over $ 1872, is absurd and not comparable (GBPJPY, a of the most volatile Forex pairs, has a 10 day ADR of 119 and a value of 137).

XAUUSD has ONLY 2 decimal places and must be calculated differently from Forex. There are no fractions of pips. It's like in Futures.

As a result of this general confusion, pip calculators are also set up differently. Attached two in my favor. Of course there are others against me, but so much is.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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This - as I said - is an endless discussion. Also because there is no official source that defines the standard.
But that the Broker has 4 or 5 decimal digits ..... that has fixed or variable spreads .... that it is MM or ECN etc. etc. etc. -for me- does not change the substance. The last decimal place (in a two-decimal instrument) is not the fraction of a pip. It is the pip.

Currently - Asian Market open for an hour and a half - I have a 10 day ADR of 3643 pips ..... a current daily range of 563 pips and a spread of 18 pips (latest data post attached image).

I conclude with this note:
you, whoever you are, who ask yourself or have asked yourself this info in the past, you have only two possibilities. And now you know them both. Whatever your idea/decision is, I respect it. You respect mine. And let's not stray this thread too far from the main theme

Ps:
@hutch, I'm serious. You are one of my teachers. I think I have read all your FF posts on trading with the Renko. Thanks for your past and future interventions.

Pss:
in the image there are all the data you need ... and even more.
Attached Image (click to enlarge)
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Psss:
Attached Image (click to enlarge)
Click to Enlarge Name: Immagine 2020-11-19 014440.png Size: 56 KB
I've seen things you people wouldn't believe
Quoting Trader-IT
{quote} I was quite comfortable with 125, which are pips on xauusd. 1 lot= 125$
I specify further:
for example, a move from 1870 to 1871.25 (125 whatever you call them), they are worth $125 minus commission (if any) and spread.

On the other hand in case of a move of 100 (whatever you define them) they will be $100 minus commission (if any) and that's it.
I've seen things you people wouldn't believe
Quoting Trader-IT
VALUE OF THE PIP IN XAUUSD. This post is very long, but I ask everyone to read it and (above all) to reread it well, so that it is correctly understood. Please, do not extrapolate a word or phrase from the total context as usual. Try to have an open mind. I have around 950 hours of trading done exclusively with XAUUSD, in manual mode ... with my eyes constantly on the chart. I believe I can speak with some certainty on this issue. So, I have been trying to NOT address this topic for years. Now I think I can have my say. I know ... it's a losing...
You are 100% correct the value of a XAUUSD pip is $1 but some forex dealers use 3 digits instead of 2. For me the third digit is useless.
Attached Images
Quoting Hutch
{quote} You are 100% correct the value of a XAUUSD pip is $1 but some forex dealers use 3 digits instead of 2. For me the third digit is useless. {image} {image}
Thanks for the information.
When I started in Forex (2012) after a period on equities (2003) I had been looking for a (reliable) Broker with 3 decimal places on XAUUSD, but I had not found it.
At that time I was younger and an "extreme" scalper.
For me, the more decimal places there are, the more detailed and accurate I find the chart. However, I understand that for a non-scalper trader, this can only mean more "noise" and can be annoying.
Over the years (and with the search for less stress) I have progressively switched to looking for trades with more pips.
The road is still long, but being able to work with the Renko helped me for sure.

I wish you a good job.
I've seen things you people wouldn't believe
I know I know....
the simpler, the better .....
The naked graph is clearer.

For those who do not think so, some tools that can be useful.
This is almost impossible to find and (I think) very little usable.

Attached Image (click to enlarge)
Click to Enlarge Name: renko counter.png Size: 13 KB


But it is also a very flexible and complete tool. The choice is yours whether to use it and how.

Attached Image


Attached File
File Type: ex4 Indy EOS Renko Counter.ex4   17 KB | 241 downloads
I've seen things you people wouldn't believe
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