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Renko Trading Discussion

  • #1,601
  • Feb 25, 2021 6:14am Feb 25, 2021 6:14am
Script working on live account, DAX +2 long from 13935:
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Everything should be made as simple as possible, but no simpler - Einstein
  • #1,602
  • Feb 25, 2021 6:17am Feb 25, 2021 6:17am
Quoting Davidh061
Script working on live account, DAX +2 long from 13935: {image} {image}
You trade 5 lots!
Trading is the hardest way to make easy money...
  • #1,603
  • Feb 26, 2021 3:16am Feb 26, 2021 3:16am
Hi Matt, just taken a DAX trade long for +9 on one of my live MT4 accounts. I've noticed that overnight the script has been deleted from the account. Is it necessary to reload the script at the start of each day? If so that could also account for my confusion yesterday when I restarted MT4 and wondered why the script hadn't worked! Cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #1,604
  • Feb 26, 2021 3:28am Feb 26, 2021 3:28am
Earlier trade long from 13850, expecting it to bounce off the double top bricks so +9 pips. 5 pip bricks
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Everything should be made as simple as possible, but no simpler - Einstein
  • #1,605
  • Feb 26, 2021 5:39am Feb 26, 2021 5:39am
Quoting Davidh061
Hi Matt, just taken a DAX trade long for +9 on one of my live MT4 accounts. I've noticed that overnight the script has been deleted from the account. Is it necessary to reload the script at the start of each day? If so that could also account for my confusion yesterday when I restarted MT4 and wondered why the script hadn't worked! Cheers, Dave
Hi Dave,

If you close the chart that the script is attached to, or restart MT4 you have to attach the script to the target chart again. However, the script shall not remove itself.

/Matt
Trading is the hardest way to make easy money...
  • #1,606
  • Feb 26, 2021 6:01am Feb 26, 2021 6:01am
Quoting MathTrader7
{quote} Hi Dave, If you close the chart that the script is attached to, or restart MT4 you have to attach the script to the target chart again. However, the script shall not remove itself. /Matt
Many thanks Matt
Everything should be made as simple as possible, but no simpler - Einstein
  • #1,607
  • Feb 26, 2021 6:05am Feb 26, 2021 6:05am
DAX long BE+2 from 13780. Didn't quite make the 20 pip target at 13800. 5 pip bricks
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Everything should be made as simple as possible, but no simpler - Einstein
  • #1,608
  • Feb 26, 2021 6:08am Feb 26, 2021 6:08am
I should have posted the entry!
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Everything should be made as simple as possible, but no simpler - Einstein
  • #1,609
  • Feb 26, 2021 3:20pm Feb 26, 2021 3:20pm
Quoting Davidh061
I should have posted the entry! {image}
Hi David, can you tell me where to get your EA " Auto SL and TS ". Im trying to get someone EA that put Trailing Stop in all my open orders, and yours seems good. Thanks if you can tell me some information.

Ahh, nice entries xD. Good pips
  • #1,610
  • Edited 9:27pm Feb 26, 2021 8:32pm | Edited 9:27pm
Quoting Davidh061
{quote} Hi Hercs, Sometimes it can be difficult to record a live trade on the DAX because it moves so quickly, and also dealing in relatively small market movements. Much easier if you are trading on H1 or H4 charts. I took a trade later in the day today when the market was getting more volatile. I wasn't quite sure how it would go so I closed it for +1. I shouldn't have worried, it went short as predicted for +30 before retracing I wont bother posting the +1 trade! Yes the price revisted the 13940 line and found support,...
Amazing account of your encounter with Dax.
Practice makes a person perfect
  • #1,611
  • Feb 28, 2021 4:37am Feb 28, 2021 4:37am
Quoting ancore
{quote} Hi David, can you tell me where to get your EA " Auto SL and TS ". Im trying to get someone EA that put Trailing Stop in all my open orders, and yours seems good. Thanks if you can tell me some information. Ahh, nice entries xD. Good pips
Hi Ancore,

It is a very simple SL, TP and TS EA, but because I prefer to trade manually it is good to have this so that I don't need to think about my SL and TP too much. I am sure there are more sophisticated EAs that do this in different ways, but I like this because it is simple! The only thing I don't like about it is the colours can't be changed. When a trade is opened an arrow is produced which marks your SL etc, but it is dark blue which isn't very good on a black background. I contacted the author of the EA asking if it was possible to change it, but he/she never got back to me.

Anyway here it is, good luck with it and your trading! Thank you for your comment on my DAX trades, they are going very well with the help of this Renko EA

Cheers, Dave
Attached File(s)
File Type: ex4 Auto SL and TS.ex4   9 KB | 357 downloads
Everything should be made as simple as possible, but no simpler - Einstein
  • #1,612
  • Feb 28, 2021 4:46am Feb 28, 2021 4:46am
Quoting simnz
{quote} Amazing account of your encounter with Dax.
Hi Simnz, thank you for your comments. I don't usually take big trades on the DAX, just good consistency! There's something to take most days on the DAX even if it is only 5-10 pips. I don't need to look at multiple instruments to take a profit each day. Cheers, Dave.
Everything should be made as simple as possible, but no simpler - Einstein
  • #1,613
  • Feb 28, 2021 6:26am Feb 28, 2021 6:26am
Quoting Davidh061
{quote} Hi Simnz, thank you for your comments. I don't usually take big trades on the DAX, just good consistency! There's something to take most days on the DAX even if it is only 5-10 pips. I don't need to look at multiple instruments to take a profit each day. Cheers, Dave.
I look at only two symbols DAX and WS30 . My trading style of locating the birth of momentum needs this comparision. "What you see on the screen is what you will get" is the approach . So pre-analysis is never done. Only when trading starts heating up, the mind starts looking for what could be momentum triggers.
Thankfully, FF member Brixen does an admirable job. I feed this input to my brain which looks for trades that could be entered and exited in a matter of 15 minutes to 1 hour. No overnight positions for me. If stuck with loss, I take the loss and look for next day to recover it. So far so good.
Practice makes a person perfect
  • #1,614
  • Feb 28, 2021 6:33am Feb 28, 2021 6:33am
Quoting simnz
{quote} I look at only two symbols DAX and WS30 . My trading style of locating the birth of momentum needs this comparision. "What you see on the screen is what you will get" is the approach . So pre-analysis is never done. Only when trading starts heating up, the mind starts looking for what could be momentum triggers. Thankfully, FF member Brixen does an admirable job. I feed this input to my brain which looks for trades that could be entered and exited in a matter of 15 minutes to 1 hour. No overnight positions for me. If stuck with loss, I take...
By the way, I use another form of renko trading coded by a commercial member.
I found the indicator here:
https://www.forexfactory.com/attachm...6&d=1592570564

Mathtrader7 may find it interesting.
Practice makes a person perfect
  • #1,615
  • Feb 28, 2021 8:15am Feb 28, 2021 8:15am
Quoting simnz
{quote} I look at only two symbols DAX and WS30 . My trading style of locating the birth of momentum needs this comparision. "What you see on the screen is what you will get" is the approach . So pre-analysis is never done. Only when trading starts heating up, the mind starts looking for what could be momentum triggers. Thankfully, FF member Brixen does an admirable job. I feed this input to my brain which looks for trades that could be entered and exited in a matter of 15 minutes to 1 hour. No overnight positions for me. If stuck with loss, I take...
I completely agree with you Simnz, I trade in the same way. My approach is to look for specific triggers in two sizes of Renko bricks. I have been onto Brixen's thread, he is very impressive! I had to stop visiting his thread because it was unsettling me - I don't have the skills to repeat what he does, I am happy to be successful at building my account slowly with only the occasional loss! Cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #1,616
  • Feb 28, 2021 8:21am Feb 28, 2021 8:21am
Quoting simnz
{quote} By the way, I use another form of renko trading coded by a commercial member. I found the indicator here: https://www.forexfactory.com/attachm...6&d=1592570564 Mathtrader7 may find it interesting.
You know I think I have looked at a variety of Renko forms, I have bought commercial indicators, used web platforms where Renko is a default charting method, and used indicators and EAs available on FF including MT7's which is now my default Renko EA. I am getting so many good results using MT7's EA in the way that I do that I would find it difficult to change, but thank you anyway, I will take a look! Cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #1,617
  • Feb 28, 2021 9:23am Feb 28, 2021 9:23am
Quoting Davidh061
{quote} You know I think I have looked at a variety of Renko forms, I have bought commercial indicators, used web platforms where Renko is a default charting method, and used indicators and EAs available on FF including MT7's which is now my default Renko EA. I am getting so many good results using MT7's EA in the way that I do that I would find it difficult to change, but thank you anyway, I will take a look! Cheers, Dave
For your information, I did not attach any EA.
Yes, I agree MT7 is a terrific programmer.
Unfortunately, I have no use for any EA.
Practice makes a person perfect
  • #1,618
  • Feb 28, 2021 1:18pm Feb 28, 2021 1:18pm
Quoting simnz
{quote} For your information, I did not attach any EA. Yes, I agree MT7 is a terrific programmer. Unfortunately, I have no use for any EA.
Hi Simnz, my apologies I think there has been a misunderstanding. I wasn't suggesting you are using any EA for any of your trading, my comment was about why I have defaulted to using MT7's EA rather than some other Renko format. Although you kindly posted the link, it unlikely I will change Renko formats now although I will give it a look as I said. I hope that clarifies what I meant. Cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #1,619
  • Feb 28, 2021 10:09pm Feb 28, 2021 10:09pm
Quoting Davidh061
{quote} Hi Simnz, my apologies I think there has been a misunderstanding. I wasn't suggesting you are using any EA for any of your trading, my comment was about why I have defaulted to using MT7's EA rather than some other Renko format. Although you kindly posted the link, it unlikely I will change Renko formats now although I will give it a look as I said. I hope that clarifies what I meant. Cheers, Dave
Honestly, your post on the indicator was uncalled for.
Whether you use it or not, do you really have to tell by way of a post?

You have a way with words. Please use it wisely.
Please don't waste your words on such frivolous things.

Anyway, trading will teach you how not to be impulsive.

Good luck to you.
Practice makes a person perfect
  • #1,620
  • Mar 3, 2021 2:32am Mar 3, 2021 2:32am
Back at it today, DAX short, definitely against the trend, +2.3
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Everything should be made as simple as possible, but no simpler - Einstein
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