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  • #1
  • First Post: Mar 24, 2023 1:25am Mar 24, 2023 1:25am
Hi All.
I have been trading the Forex with Renko charts and tried point and figure charts as well. I use mean Renko charts as just prefer them having wicks.
I enjoy seeing the double tops and bottoms to trade better than candlestick charts.
Am I doing ok, well all depends if you like to scalp, I do enjoy the action for say an hour a day then get on with my life. So am I making money that is the bottom line.

I try for 20-30 pips a trade plus, sounds not much but for me the risk is better- having lost heaps of money trading say one hour chart or four hour candle chart realized
I just do not have a bigger enough bank for the big stops, as some of us have that problem, get stopped out only to see the market go our way.

To scalp with Renko charts you need to watch big time, don't even think of leaving your platform, mine is MT4 for a pee lol

I use this company, and no not an affiliate- to use their amazing indicators for Renko and not tied to a one minute chart. They give you 15 days to download and use https://ovo.cz/ (https://ovo.cz/) just worth a look.

To regress do I make money? Well I do not keep spread sheets, but consider my daily trades. I try to hang in until pip box goes against me, however when
you start to trade Renko charts maybe also candle charts there is a gut feeling after watching charts for many years...to know when to fold or keep-follow that feeling works ok for me. do not keep moving stop loss against you higher- face facts we were wrong, heaps of trades a day why hang into one going wrong thinking we know what the market will do- Also please watch the news calendar very important yezzzz-

If I can make $150 a day happiness, bail on any trade that losses me $60, one can always go back in. Not good ratio however I scalp, as soon as things slow down I am out waiting like a shark to see which way, easy to use pending orders using Renko charts, all just my ideas I am not a great trader in the world and always test on demo account first

Anyway point put out anyone trade with Renko and give us all some feed back..no not your trading system up to you, but how you going with Renko?
Regards DM
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  • #2
  • Mar 24, 2023 3:07am Mar 24, 2023 3:07am
Thank you darkmonk. I tried renko as well but it makes my computer slow. I like to see more of your strategy.
  • #3
  • Mar 24, 2023 4:10am Mar 24, 2023 4:10am
That is interesting-are you using MT4? Certain indicators like Renko-signalam slow down the platform.

When you go into tools on mt4 what bar history do you have set? Also MT4 needs clean up to run faster, as say market watch- just hide
all will show then just your currencies you have-

also i noted to speed my MT4 platform up was to go into file data folder tap logs and delete all past ones
helped me a lot. let me know if helps. Mt4 collects data big time, if you are on say demo account or live again go to file top left then hit history, click on your trading account and get rid of charts you are not using, that way they open up just the charts you use
Let me know if speeds MT4 up and Renko, again what renko indicator do you use to get renko on mt4?
  • #4
  • Mar 24, 2023 5:11am Mar 24, 2023 5:11am
Hi DM,

I trade with Renko all the time, although I have a slightly different approach to your system and use a different Renko EA - I've posted quite a number of (live) trades here: https://www.forexfactory.com/thread/561530-renko-trading-discussion
I tend to only trade on the DAX40 - there is usually enough each week to hit my targets and keep my spreadsheet in the green! I don't have a speed problem on MT4 with the EA I use from MathTrader7 , but then I only have two Renko charts open at any one time (10 pip and 5 pip bricks).
I wish you success, cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #5
  • Mar 24, 2023 5:23am Mar 24, 2023 5:23am
Well I again did not follow my system to get out losing- You know why-- went for lunch had a few wines thought was invincible- morale of the story do not drink piss and try to trade- lol

Bought it thinking a bit pissed has to go up- maybe will but not just yet lol-
woo learn my mistakes fast, the market works in her way not me trying to control it- trend was down on Renko maybe hard to see on this photo, but really why try to go long--really called wine shit. now have to work to break even for the day F--- me
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  • #6
  • Mar 24, 2023 6:24am Mar 24, 2023 6:24am
Well picked up some profit on EUR/USD I am based in Aussie so time frame important.

Just a stupid day trading really was up $200 why push the boat, guess greed, make $200 a day relates to say 4 day trading not weekend locked into
is $800
yearly you can work that out, keeps me buying Johnny Walker lol

There is huge fun trading and getting it right most of the time but really on a week base better than that, old saying take losses fast stay with the mover-get out fast if going against you-

Load of bollocks really how do you know if on a moving trend? Moving averages, etc, all comes down to price.
i just see Renko charts can give me more than that and get a good news calendar to view before you trade especially on the pair you trade.

Photo trying on 20 pip box- tried trailing stops really gets me out to early, better to watch price action.

Enough going to have a wine lol

Look at Renko if not done before- but hey guys traders that use Renko let us know if you are doing ok, even if you have had a bad experience trading with Renko boxes, i am not here to make money from you just want some feed back.

Try to look hard at Renko charts, try to see the pattern- i use an ATR not on a renko chart to see the movement on a 15min chart might be 150 pip move per candle, so longer to get results, but hey cut down the pip box half to say 75 might be better for folks not wanting to scalp so fast.
Or try to scalp on a 10 pip box woo works but be fast. cya you guys enjoy learning. Always test on a demo account first please.
DM
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  • #7
  • Mar 24, 2023 6:42am Mar 24, 2023 6:42am
Well went short early on 20 pip box- some indicators not agree, but huge move up- can put fib on the chart to get a point to bail- you can use piviot points etc,
but watch on a 20 pip renko box-scary but are we not gamblers ? "The action is the juice"from Heat movie lol
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  • #8
  • Mar 24, 2023 6:46am Mar 24, 2023 6:46am
Working ok. but about to take a profit and close up for the night
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  • #9
  • Mar 24, 2023 7:22am Mar 24, 2023 7:22am
Some indicators I use hope they download ok- one that works ok is the Renko system Am however depending on how many renko charts you have open will slow down MT4 so if that happens delete shutdown mt4 reboot and then put on again- do not forget a easy indicator for renko charts is the RSI I set to 7 and put a 50 line in there above that look for longs below the opposite. Please just test all on demo account.
Happy trading hope you do ok
PS this company mentioned before will give you 15 day trial on all their Renko charts and free OmniaRemote etc if interested worth a look, and no not an affiliate i just like their products https://ovo.cz/

Happy trading keep in touch
DM
Attached File(s)
File Type: ex4 super-signals-channel.ex4   10 KB | 175 downloads
File Type: ex4 Renko-SignalAM.ex4   14 KB | 179 downloads
File Type: ex4 BB_MACD.ex4   23 KB | 164 downloads
  • #10
  • Mar 24, 2023 7:29am Mar 24, 2023 7:29am
Quoting Davidh061
Hi DM, I trade with Renko all the time, although I have a slightly different approach to your system and use a different Renko EA - I've posted quite a number of (live) trades here: https://www.forexfactory.com/thread/561530-renko-trading-discussion I tend to only trade on the DAX40 - there is usually enough each week to hit my targets and keep my spreadsheet in the green! I don't have a speed problem on MT4 with the EA I use from MathTrader7 , but then I only have two Renko charts open at any one time (10 pip and 5 pip bricks). I wish...
Well sounds to me you are doing ok, yes I am still learning Renko, thanks again for your input much appreciated not just for me but all
  • #11
  • Mar 24, 2023 7:35am Mar 24, 2023 7:35am
To me feed back is great know nothing about MathTrader7 but Davidh061 gave me a heads up on that- any more info guys let us know
  • #12
  • Mar 24, 2023 7:44am Mar 24, 2023 7:44am
Quoting darkmonk
{quote} Well sounds to me you are doing ok, yes I am still learning Renko, thanks again for your input much appreciated not just for me but all
How do you find using an EA as expert advisor indicator? does this auto trade for you or do the signals come up then you decide to take the trade- reason i ask back some time on candle charts got a EA that was auto it really took so much money off me decided to do my own stuff- info might help people thinking of getting an EA to people that do not know called an Expert Advisor and you can see some general ones on MT4- just be careful
  • #13
  • Mar 24, 2023 8:13am Mar 24, 2023 8:13am
Quoting darkmonk
{quote} How do you find using an EA as expert advisor indicator? does this auto trade for you or do the signals come up then you decide to take the trade- reason i ask back some time on candle charts got a EA that was auto it really took so much money off me decided to do my own stuff- info might help people thinking of getting an EA to people that do not know called an Expert Advisor and you can see some general ones on MT4- just be careful
Hi DM,
This Renko EA works really well, its my preferred Renko format - also its free! I've bought Renko indis in the past but this one works the best (for me). I manually trade, although the DAX40 has been a bit mental this morning - it can move so fast but I've managed to get 40 pips out of the morning (UK) session. No SL, I just wont allow a loss of more than 10 pips if the trade reverses, although this hasn't been a problem this morning - I left a lot of pips behind
There are auto trade EA's available for this Renko format, but I don't use them - old school! Cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #14
  • Mar 24, 2023 8:22am Mar 24, 2023 8:22am
Well thank you buddy -maybe if you want put a link to your EA know you have but maybe people do not dive in enought to links and get scared. thanks again for your input. Hell 12.17 pm in Aussie and still trading to get my loss back, silly but the market is a bit faster late in the night in Australia
Take care go those pips on Dax40..never traded that, but who knows might look at that-made heaps on gold some years back different ball game now
DM
  • #15
  • Mar 24, 2023 8:51am Mar 24, 2023 8:51am
Quoting darkmonk
Well thank you buddy -maybe if you want put a link to your EA know you have but maybe people do not dive in enought to links and get scared. thanks again for your input. Hell 12.17 pm in Aussie and still trading to get my loss back, silly but the market is a bit faster late in the night in Australia Take care go those pips on Dax40..never traded that, but who knows might look at that-made heaps on gold some years back different ball game now DM
Hi DM, no problem, the link to MathTrader7's EA is here: https://www.forexfactory.com/thread/535170-non-gap-renko-chart-creator-ea

If you have a look at MT7's page you will find other stuff that might be useful to you. Its been a while since I was late night trading! Have a good weekend, cheers, Dave
Everything should be made as simple as possible, but no simpler - Einstein
  • #16
  • Mar 24, 2023 11:05am Mar 24, 2023 11:05am
It is very good to find more traders who use Renko, due to the rhythm of life and psychology I cannot afford to trade manually and after much searching for a few years, I am finally working on something profitable for semi-automatic renko candles. There is still a long way to go but here we will continue trying. I'll be watching your thread and you can take a tour of mine, very soon I'll be uploading more files and what I hope to get with the EAs I'm experimenting with.
Greetings

https://www.forexfactory.com/thread/1185124-recovering-an-almost-lost-account-2500-dollars?
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  • #17
  • Mar 24, 2023 1:03pm Mar 24, 2023 1:03pm
Good to see a New Renko thread.......I have been trading Renko for 26+ years and love the chart format of bricks...

I have used the EA from Ovo for many years and most happy with it......Tried most other Renko Ea,s.

5.00 am here so will post more later.......My ID does have many images and I continue to make new templates to prevent boredom.
Looking forward to reading more here.
Cheers,
R
Ronnie Renko
  • #18
  • Mar 24, 2023 6:15pm Mar 24, 2023 6:15pm
Hi Ced74 great to see you here, your experience with Renko charting will be of great interest to all-
  • #19
  • Mar 24, 2023 6:20pm Mar 24, 2023 6:20pm
Quoting JaimeAlejan
It is very good to find more traders who use Renko, due to the rhythm of life and psychology I cannot afford to trade manually and after much searching for a few years, I am finally working on something profitable for semi-automatic renko candles. There is still a long way to go but here we will continue trying. I'll be watching your thread and you can take a tour of mine, very soon I'll be uploading more files and what I hope to get with the EAs I'm experimenting with. Greetings https://www.forexfactory.com/thread/1185124-recovering-an-almost-lost-account-2500-dollars?...
Hi JamieAlejan thanks for thread, semi automatic renko candles sounds cool,keep at it
  • #20
  • Mar 25, 2023 12:09am Mar 25, 2023 12:09am
Well it is Saturday at 3.20 pm, only chart i can test a new indicator is on crypto which I do not trade. The indicator am trying is the obv ma histo a friend told me to test it out, settings playing with but keen to see on Monday if it works ok- Any one tried it?

Still my favorites are the RSI set at 7 with a extra level of 50. So not so much looking at oversold or over bought areas, more to see if rsi above 50 level i would be considering longs more, combined with the BB Macd and theRenko-signalam as gave you indicators on previous post helps to determine when to jump.

Now pretty sure most of you trading see say a huge move to the upside which you might have missed and looking to sell the retrace, many times I have jumped in only to see the trend keep going up and not look at my indicators, so why bother to have indicators if you do not use them, pretty hard to pick the tops and bottoms. well might send two images, one took the trade based only on obv and one later- all fun guys but please try things on demo account.
Here is the indicator if you wish to try
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Attached File(s)
File Type: mq4 obv ma histo mtf arrows + alerts.mq4   12 KB | 127 downloads
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