(binned per thread starter's request) Trading Forex With Renko Ch

Hi All, what I will do next week when market open is to send you two photos- one Mean Renko the other with just plain renko bricks no wicks so you can see the difference better. However pop over to https://ovo.cz/ (https://ovo.cz/) and try some of their Renko indicators for free for 15 days.
Have a great weekend guys.

Last post for weekend and this time an (expert advisor) EA
This is interesting as works setting up OCO orders- that means this EA on chart as you may know only can put one EA on a MT4 chart
Gives you a nice input box to set up your profit and loss plus lot size and trailing order plus break even area- once on your chart you can double click the green or red line to determine where you want order to be- tried on candlestick charts was ok, so this is break out trading.

On Renko charts works ok because easier to see when the market is sideways and to put OCO orders in, also because you are not manually putting in pending orders your broker does not see that, just a thought. Anyway try it found from a post on Babypips site. give me your thoughts on it. Also save to experts and click live trading so will work. Cya

Yes MT4 with 65000 history in charts. I guess market watch is overloaded (28 items). Indicator is MeanRenkoBar (ovo). Thanks for your suggestion. I will reduce my market watch and let's see if needed step by step just one renko chart.

[quote=kofix11;14374024]{quote} Yes MT4 with 65000 history in charts. I guess market watch is overloaded (28 items). Indicator is MeanRenkoBar (ovo). Thanks for your suggestion. I will reduce my market watch and let's see if needed step by step just one renko chart.[/quot

Reduce history to Max Bars to 5000.......Then can run 5 pairs without problems......I only trade one pair these days so no problems....If you wish to run multiple pairs use more than one broker account....As suggested reduce Market watch pairs and get rid of indicators if not needed....Just good housekeeping.

There are many,many,many templates in Cyber Space which can be made to work in my humble opinion....Just requires research and testing.

O.K Trivia Time

Here are just a few simple scalping templates from my archives for interest only....What works for one person may not work for another.....One needs to find their own Niche.
R

This is great thank you. I guess I am trying to create a simple process using Renko charts- i do get sick of having many indicators at play that can some times just confuse the issue- learning about mean renko charts at present that i believe start forming from the middle, might be wrong here. I do like wicks as shows better the highs and lows. All in all I am still learning renko charts but see a bigger picture for me than candle stick charts after 15 years trading them.
Thanks again all.

Let us know if that works ok for you

Made a start to the week with a few of buys .

There appears to be no interest here so i will not waste my time.
Good trading to all
R

Frankfurt open is upon us so now the Real Trading can start

Understand Ced74 i do not feel many people interested in Renko charts. Will put a few more posts for fun- just been busy trading this week and testing some new ideas.

Not very good at capture of trading screen, learning. Below is just ordinary renko boxes set at 30 pips a box- however incorporated Heiken Ashi smoothed indicator to try and keep me in the trade longer, I am a scalper and get twitchy when bars move against me get out for small profit then to see go back the way I took position. Also trying rsi set to 5 and a MA on it. Still have the BMACD as well, a few trades were missed but you have to be fast and just have a go.

Have often traded a 5 pip box on renko, that really does give one sweaty armpits lol in and out fast,the problem i find is on a razor account with pepperstone broker cost for 1 contract $7 au so not the best spread to scalp with such a small pip box.

I look at an ATR to give me some idea of box size and using the Omina remote from https://ovo.cz (https://ovo.cz)/ which is free can change box size on the fly.
Fairly obvious the smaller the box size on renko one can get whipped around, so am still testing on higher box size.

Any feed back on how you trade renko charts would be good

Here is the Heiken ashi smooth indicator also good on candle stick charts

I got a good part of the trade up on usdjpy, looking at Heiken ashi smoothed kept me in longer. Box size 70

There are many ways to skin a cat but the important thing is to win and how one achieves this is just a part of the plan....No Rocket Science requied.
The Tide may turn very soon
R

Now one looks at the reverse trade-rsi hitting over bought-guess wait and see on 2nd box or sell what you think might be the top- now a 50 box renko- as adverse trader going short soon but does one wait for the HS smoothed to change, yes one will lose extra profit- offering you to say what would you do? any takers?