Sure winner - maybe!

I am busy with some robot programming. So looking around in order to kill the time while they are forward testing and found this fine strategy on Youtube.

2 MA's: 144 linear weighted and 5 Smoothed. On close of cause.
But here comes the advanced strategy: Use Renko bars. They remove the noise. On every cross do invest and set profit 2 bars and SL 2 bars. I use 10 pips = 100 points on this Renko chart. As "mother chart" I use a timeframe at H1. I see many people that think you must use M1 in order to get all updates on price. That is wrong. You get updates all the time no matter which TF you use. But selecting a specific TF creates the number of bars and that is vital.

Be aware of too small Renko bars. The split will eat you profit. Also it is important to have a broker or PROP firm with smallest possible splits.

I tried it on Nasdaq. The author suggest EUR/USD, GBP/USD and USD/JPY (Medium volatility).

It seems to win most times. There will be a huge bunch of bars that you don't get with this profit target, but you will win a lot. Be happy for the money that you get and don't think of the money that you did not get.

Of cause you can try with a larger TP. And maybe 200MA? Or a Hull MA for the fast 5MA?

Do not trade when the chart is ranging!! A hint could be to trade on New York session open. It gives some nice runs.

The problem with Renko is that it repaints every time the chart has been closed. But not that much - at least my doesn't. So it has not been tested properly. Somebody must try this strategy on forward test to see if it holds. Please let us know in this thread your results. I will not test it myself right know. I have far too many robots on the screens as it is.

And I will not be the mentor for any newbees that does not know Renko. There are meny threads that is about Renko. Also a lot of knowledge on the Internet. Read and be wise. My Renko indicator is NTA Renko. Make and Internet search and you will find it. It works great. Put it in your indicator folder. (I use MT4).

Can you make a living on TP = 2 bars? Easy! Have several charts open. Take 10 trades a day.

Please let us know in this thread your results.

I think I'll try this and post the result here.
Thanks RiskFighter

interesting, i will try

OK, I think I will work a bit on this anyway. I will make a robot that is doing it and share it with you guys. Maybe sometime today? I have a doctors appointment, so I am not sure.

.

And if you are not a programmer - WHY NOT? It took me 10 minutes to make this robot and if the strategy works, I don´t need to use my time trading. The robot will do it.

It's not that hard to learn programming. Pay for a course from this man: JimDandy Mql4 Courses | Program Your Own Scripts, Indicators and Expert Advisors

.

Hi risk
tf?
thanks.

Hi guys, I made red lines at 9 signals in the last 4 trading days. One would have gone into a loss. Many of the rest gave exactly 2 bars profit. This suggest, that if you are slow on the trigger, then the train has gone and the profit disappeared.

And these Renko bars sometimes paint very fast and it can be hard to trade the right moment. However you can allways tell when the cross is coming and maybe get into the trade a little on beforehand. That way maybe even get a few more bars out of it?

Good question.

I use H1 and I just noticed, that I use Renko bar size 10 pips or 100 points. I will correct post #1.

If you need to backtest Renko, you can get the OVO Renko FXT Builder. Use it conjunction with the free edition of TickStory. I used to backtest Renko that way last time.

In fact, I'll probably test this out when I'm free. Just for the lulz.

Thanks Cliff

A very fine advice. I used OVO some years ago. It worked fine. Don't know that TckStory.

I am working on another project right now bringing a robot out in a large scale real money machine - I hope he he - and I do not have time to test this myself. So I look forward to hear from you. I think this strategy could be a winner.

So which Renko Generator, do you use at this moment?

I use NTA Renko. It is free. Get it from Nicos Trading Academy. By the way they also have some good videos about trading Renko. The courses are a nogo these days, because Nico who was the brain died several years ago.

Any link?

Its not difficult to find if you google. Anyway sent you link in PM because FF will mark you as commercial for sharing external url sometime

could u send me the link too pls i googled but couldnt find it or just the name of the video

When people going to actually read for once and realize what a moving average is, for god sake there's no magical 2 MA numbers crossing to trade.
If you're on H1 timeframe and your 2 MA is 50 and 6, what your doing is calculating the average movement of the past 50 hours against the past 6 hours, that's it nothing magical or secret.
Now this strategy is based of renko 10 pips, so what is he saying is the average movement of the last 1440 pips calculated against the last 50 pips movement now dose this make any sense to anybody!?

Forget theory. Forget sense. This is numbers game. Cool cash. If it works, then it works. And maybe not.

I am profitable with a robot like this. Other signals though and then just a very tiny scalp. I take only one trade a day under the best conditions. Profit set to 1% at a 2 bar win. A loss will be 2%. Very nice. But the numbers game must be in your favor.