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WTI Crude Oil Trading

  • #9,441
  • May 15, 2021 4:52pm May 15, 2021 4:52pm
Quoting Hutch
{quote} STG Renko was made for currency pairs not for CFDs so for CFD you have to add a zero to the Renko brick size so to get 10 pips you need to input 100 so your pip number is correct. Your offline timeframe start of 12 will not produce a chart with the name M12 but something higher like M13, M14, etc. The name of the template is not relevant in the chart setup. You can also use any timeframe you want to construct the Renko chart. As you can see I use H1. {image}
After changing the INPUTS, do you click on OK, or SAVE or LOAD?
  • #9,442
  • May 15, 2021 4:55pm May 15, 2021 4:55pm
Quoting Glorybound
{quote} After changing the INPUTS, do you click on OK, or SAVE or LOAD?
Just click ok it should work.
  • #9,443
  • May 16, 2021 6:09am May 16, 2021 6:09am
Quoting Hutch
{quote} {quote} Thank you for the compliments; although not necessary it's appreciated. What you did is put the template on your M5 chart. There is nothing wrong with that except that it's unusable as a Renko chart. You should see the STG_RenkoChart indicator in the MT4 indicator panel. Just drag it to your chart or click on it. Once this is done you will see the input tab of the STG_RenkoChart indicator. First please click the "Common" tab and click "Allow DLL imports". Then go to the "Input" tab and copy the values in the picture below. Once this...
"...The name of the chart will be the same as your M5 chart except it will be M but after the number 9 since this is the one number to start with in the input tab..."
Whenever I click on file and then open offline, I do not find the exact name like M9...after several attempts, I saw one closest to 9, which is M10. That one worked
but I need explanation on that. Again, at the bottom of my chart, next to 10.0, I will M11, M12, or M13 different from M9. Now in the open offline, only M5 will be highlighted or others not related will be highlighted. I KNOW I AM VERY CLOSE - lol! But still not there yet! The one time I succeeded, I saved the new template
thinking that I can now use it permanently but it does not work!
  • #9,444
  • May 16, 2021 12:32pm May 16, 2021 12:32pm
Quoting Glorybound
{quote} "...The name of the chart will be the same as your M5 chart except it will be M but after the number 9 since this is the one number to start with in the input tab..." Whenever I click on file and then open offline, I do not find the exact name like M9...after several attempts, I saw one closest to 9, which is M10. That one worked but I need explanation on that. Again, at the bottom of my chart, next to 10.0, I will M11, M12, or M13 different from M9. Now in the open offline, only M5 will be highlighted or others not related will be highlighted....
Here is my WTICOUSD H1 source chart. The STG_RenkoChart indicator input tab shows "Offline Timeframe Start 9". The 9 is only the starting point of the numbering but the Renko chart will show a number higher than 9. On my H1 source chart the STG_RenkoChart indicator shows
100 M13. The 100 is the number of pips from the custom indicator (100 is to get a 10 pips Renko chart on CFDs) while M13 is the name of the chart. When I open the offline chart the name is WTICOUSDM13 Min. The name is also indicated on the STG_RenkoChart_Remote at the bottom of the chart if you used the Template that was included in the ZIP file. Here is my source chart and my Renko chart.

If you input the data properly at the bottom right of your M5 source chart you will see the name of the Renko chart. To get the Renko chart just click "File" "Open Offline" and you should easily find it.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: WTICOUSDH1.png Size: 37 KB
Click to Enlarge Name: WTICOUSDM13.png Size: 34 KB
  • #9,445
  • May 16, 2021 2:04pm May 16, 2021 2:04pm
Please look at the result of my offline chart:
Attached Image (click to enlarge)
Click to Enlarge Name: 01534acdd6a0093af83e3aa0c71a30a8.png Size: 141 KB
  • #9,446
  • May 16, 2021 2:06pm May 16, 2021 2:06pm
Quoting Glorybound
Please look at the result of my offline chart: {image}
The M11 is not highlighted or active...
  • #9,447
  • May 16, 2021 4:36pm May 16, 2021 4:36pm
Quoting Glorybound
{quote} The M11 is not highlighted or active...
Your M11 chart shows correctly in the offline chart folder and clicking on it will open it. The problem is that you only have 4 bars on that chart so it's useless for trading. This video will show you how to get more bars in the history. Please open a 1 minute chart to get more history data. When you finish downloading the M1 history data please close your MT 4 and when you will re-open it your M5 chart will have enough history data to permit you to have a decent Renko chart.

Inserted Video
  • #9,448
  • May 16, 2021 9:10pm May 16, 2021 9:10pm
Thanks Hutch.

Much appreciated as I am a newbee and learning everyday. Next lesson Renko Charts.. Will need to study your comments carefully. Thanks Buddy.

It is great we have a community that wants everyone to make money. Rare in this world I tell you.

drknsingh
  • #9,449
  • May 17, 2021 7:36am May 17, 2021 7:36am
Quoting Hutch
{quote} Your M11 chart shows correctly in the offline chart folder and clicking on it will open it. The problem is that you only have 4 bars on that chart so it's useless for trading. This video will show you how to get more bars in the history. Please open a 1 minute chart to get more history data. When you finish downloading the M1 history data please close your MT 4 and when you will re-open it your M5 chart will have enough history data to permit you to have a decent Renko chart. https://www.youtube.com/watch?v=Sg3Uu-lphAY
The method I published above is the best method to load M1 history data. However, there is another method that is a script. Here is the link to the article for reference https://www.mql5.com/en/code/9672 and I have attached the script. This article shows how to use scripts

https://www.allfxbrokers.com/blog-ar...w-do-they-work
Attached File(s)
File Type: mq4 LoadHistory.mq4   9 KB | 264 downloads
File Type: ex4 LoadHistory.ex4   17 KB | 290 downloads
  • #9,450
  • May 17, 2021 9:55am May 17, 2021 9:55am
Hi Hutch, today I had a sell signal @ 65.

I had sell arrow and the MACD was negative (confirmation).

I was stopped out and the sell arrow was deleted.

Have you got the same trade or am I missing something?

Thank you.
  • #9,451
  • May 17, 2021 1:20pm May 17, 2021 1:20pm
Quoting Alberto_Jazz
Hi Hutch, today I had a sell signal @ 65. I had sell arrow and the MACD was negative (confirmation). I was stopped out and the sell arrow was deleted. Have you got the same trade or am I missing something? Thank you.
I have the same problem sometimes but it's rare but happens since the Half Trend TT repaints. Don't forget that you enter into a trade not on the brick with the arrow but only at the beginning of the next brick. One of the problem is the data feed of brokers. An example is that the red brick before the last arrow was empty (volume o 0) so it should never have been there and that also can confuse traders.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSD.png Size: 34 KB
  • #9,452
  • May 17, 2021 4:19pm May 17, 2021 4:19pm
WTI went up 88¢ today with an average ATR that produced 1 break even trade and 3 winning trades. Please note that the last signal is a false signal since the brick after the red brick is aqua and the FxBay MACD is still positive.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDM13.png Size: 34 KB
  • #9,453
  • May 18, 2021 12:50am May 18, 2021 12:50am
WTI currently riding 5 year highs. Excellent. (66.49/66.79)
"Don't Shoot Me I'm Only the Piano Player"
  • #9,454
  • May 18, 2021 6:58am May 18, 2021 6:58am
Here´s a professional Renko Indi. I bought some indies from these people in the past, and they were excellent.
I will download the test version and check it out.

https://ovo.cz/products/offline-char...t4/renko-bars/

Inserted Video
  • #9,455
  • May 18, 2021 12:53pm May 18, 2021 12:53pm
In my book, this is a clear stop run, right?
Btw. I´m compeltely new to WTI. Looks promissing.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDH1.png Size: 173 KB
  • #9,456
  • May 18, 2021 4:30pm May 18, 2021 4:30pm
Quoting cuchuflito
In my book, this is a clear stop run, right? Btw. I´m compeltely new to WTI. Looks promissing. {image}
For me it is stop and run also but but some traders prefer models and trade long-term. It's a matter of choice. As you can see I trade using Renko and it works quite well. If you wish to try my strategy it is at Post 9,426.
  • #9,457
  • May 18, 2021 4:43pm May 18, 2021 4:43pm
WTI went down $1.14 today with a very high ATR that produced 1 losing trade (6th arrow signal) 2 break even trades and 4 winning trades.
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSDM13.png Size: 35 KB
  • #9,458
  • May 19, 2021 2:01am May 19, 2021 2:01am
Quoting Hutch
{quote} For me it is stop and run also but but some traders prefer models and trade long-term. It's a matter of choice. As you can see I trade using Renko and it works quite well. If you wish to try my strategy it is at Post 9,426.
Yes Hutch, thanks, I am studying your strat. for the moment just working on getting the R bars right.
  • #9,459
  • May 19, 2021 3:38am May 19, 2021 3:38am
First winner with Renko WTI, GRACIA Hutch!
  • #9,460
  • May 19, 2021 6:33am May 19, 2021 6:33am
Quoting cuchuflito
Here´s a professional Renko Indi. I bought some indies from these people in the past, and they were excellent. I will download the test version and check it out. https://ovo.cz/products/offline-char...t4/renko-bars/ https://www.youtube.com/watch?v=SqSY...ngforBeginners
Hi Cuch, have you done the check and how was it?
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