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Renko trading using proven strategy

  • #421
  • Edited 5:08pm Nov 21, 2020 2:36am | Edited 5:08pm
The second tool, I think is for sure an old acquaintance for some.
Used mainly for the 00 level strategy, it is also excellent for Renko and has several possible uses.

- to view the exact level of each past and future candle and
- as in this case for the XAUUSD, for the subdivision into eighths of the full price

Attached Image (click to enlarge)
Click to Enlarge Name: divisione prezzo per ottavi.png Size: 45 KB

- for the subdivision into quarters and
- identification/response at the main levels

Attached Image (click to enlarge)
Click to Enlarge Name: divisione prezzo per quarti.png Size: 31 KB

- decimal subdivision (greater precision and level control around the full price .90 and .10)

Attached Image (click to enlarge)
Click to Enlarge Name: divisione decimale.png Size: 53 KB



Play with colors (more visible - less visible) and division%. Adapt everything to the instrument you want to work on.
At least 5 possible uses for the "price" of 1.
Maybe you can find others.

Attached Image


Attached File(s)
File Type: ex4 Indy EOS SweetSpots v 3.0.ex4   16 KB | 518 downloads
I've seen things you people wouldn't believe
  • #422
  • Nov 22, 2020 9:25am Nov 22, 2020 9:25am
I am starting to really like renko now,has anyone got any Take profit levels/targets they can recommend ? thank you in advance
  • #423
  • Nov 22, 2020 2:01pm Nov 22, 2020 2:01pm
Im interested, is this inspired by the "heiken ashi" guy with the renko/macd combo for entry exits?
  • #424
  • Nov 27, 2020 2:21am Nov 27, 2020 2:21am
Not really a big fan of Heiken Ashi, however, I'm a huge fan of combining Mean Renko bars and a Super Guppy setup.
For me, the trade entries and exits are loud and clear.
BTW.
Love all the information being provided here... thanks, everyone.
  • #425
  • Nov 27, 2020 6:32am Nov 27, 2020 6:32am
Help!!!!
Just discovered today that if the STS Renko is set to Mean Renko, the chart will freeze after a trade has closed.
Has anyone else has had this problem? if so, I may invest in the OVO MeanRenk indicator instead..
  • #426
  • Nov 27, 2020 7:23am Nov 27, 2020 7:23am
Quoting EquinoxFX
Help!!!! Just discovered today that if the STS Renko is set to Mean Renko, the chart will freeze after a trade has closed. Has anyone else has had this problem? if so, I may invest in the OVO MeanRenk indicator instead..
Hello EquinoxFX. In the last few pages, something like this has been reported and there is also a response from the OP.
I've seen things you people wouldn't believe
  • #427
  • Nov 27, 2020 8:50am Nov 27, 2020 8:50am
Quoting EquinoxFX
Help!!!! Just discovered today that if the STS Renko is set to Mean Renko, the chart will freeze after a trade has closed. Has anyone else has had this problem? if so, I may invest in the OVO MeanRenk indicator instead..
I have used OVO for years. Never had any problems at all.
MetaTrader 4 - so many advantages.
  • #428
  • Nov 27, 2020 9:37am Nov 27, 2020 9:37am
Thanks, both. Will buy OVO next week
  • #429
  • Nov 27, 2020 5:44pm Nov 27, 2020 5:44pm
Quoting EquinoxFX
Help!!!! Just discovered today that if the STS Renko is set to Mean Renko, the chart will freeze after a trade has closed. Has anyone else has had this problem? if so, I may invest in the OVO MeanRenk indicator instead..
You have the choice between Standard and Mean Renko in the "Type of Renko Chart" in the input tab of the indicator.
  • #430
  • Nov 27, 2020 6:37pm Nov 27, 2020 6:37pm
Quoting Hutch
{quote} You have the choice between Standard and Mean Renko in the "Type of Renko Chart" in the input tab of the indicator.

Temporary test.
Do you mind if I copy your style?

Attached Image (click to enlarge)
Click to Enlarge Name: c36e1ca29fd30d18dfae4dfdf8319539.png Size: 320 KB
I've seen things you people wouldn't believe
  • #431
  • Nov 28, 2020 1:45am Nov 28, 2020 1:45am
Quoting Hutch
{quote} You have the choice between Standard and Mean Renko in the "Type of Renko Chart" in the input tab of the indicator.
Thanks, Hutch, but I was already aware of that. I prefer to use Mean Renkos
  • #432
  • Nov 28, 2020 2:08am Nov 28, 2020 2:08am
Quoting Trader-IT
{quote} Temporary test. Do you mind if I copy your style? {image}
No probs
For the EU pairs, I use a 20 brick size Mean Renko, then overlay with the Guppy GMMA indicator. In my case, I have complied a Super Guppy setup.
  • #433
  • Nov 28, 2020 2:08am Nov 28, 2020 2:08am
However, I'm always open to new ideas...
  • #434
  • Nov 28, 2020 8:08am Nov 28, 2020 8:08am
EquinoxFX ... the question was related to Hutch (I quoted his post on purpose)

However not a problem, if you have explained your setup.
I've seen things you people wouldn't believe
  • #435
  • Nov 28, 2020 9:07am Nov 28, 2020 9:07am
Quoting tgdrela1
...
Thanks for the update.
I've seen things you people wouldn't believe
  • #436
  • Nov 28, 2020 2:27pm Nov 28, 2020 2:27pm
Sorry, Trader-IT my mistake.

Another strategy I really like to share with you guys which I use with the Mean Renkos is with two 5 period MA's channel.
One 1st applied to High and the 2nd applied to low. I also like a 5,3,3, Stochastic as seen in the screenshot
Trade entries, as shown with blue vertical line.

Hopefully, the rest will be self-explanatory
Attached Image (click to enlarge)
Click to Enlarge Name: Renko_Channel.png Size: 78 KB
  • #437
  • Nov 30, 2020 7:32pm Nov 30, 2020 7:32pm
Hello trader
I made expert working on Renko Chart and I want to try it live
I rent VPS from MQL5 but it doesn't allow to run renko chart because it isnot allowed to import dll.
Any advise for VPS so I can run renko chart on it.(trusted)

Thanks in advance
  • #438
  • Dec 2, 2020 6:37am Dec 2, 2020 6:37am
Nice generator, thank u!!
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 39 KB
  • #439
  • Dec 2, 2020 2:25pm Dec 2, 2020 2:25pm
If one is viewing only the Renko chart, one might want to know:

- from which brick the day or week or month starts
- see the minimum/maximum of the day, of the week, or of the month
- for direction, I also look if the price is above or below 50% of the move. Now I can see it
- other options.

Attached Image (click to enlarge)
Click to Enlarge Name: Immagine 2020-12-02 211837.png Size: 21 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Immagine 2020-12-02 211934.png Size: 62 KB

Thanks @cja
Attached Image


Attached File(s)
File Type: ex4 Candle % MTF v1 nmc.ex4   76 KB | 493 downloads
I've seen things you people wouldn't believe
  • #440
  • Dec 8, 2020 4:13pm Dec 8, 2020 4:13pm
Hi Hutch
Does this qualify as 'interesting' for your Daily strategy which you've posted here? Indis color change...blue > red ?
( please pardon that this is not a renko chart ) :-) Billy
Attached Image (click to enlarge)
Click to Enlarge Name: Gbp Usd daily strategy.png Size: 48 KB
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