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  • #461
  • Jul 14, 2009 7:57am Jul 14, 2009 7:57am
I think he is talking about a normal chart .. check out below what happened with AU when wma 12 and the 3 & 5 emas converged, then the 2 fast ones took off to the upside, and later to the downside.
Interesting...


Quoting ianf0ster
Hi gutek04,
Now I understand why you made the claim about the EMA cross.
It is because you are basing the EMAs on the Renko bars. This, of course tends to smooth the signal (in addition to soemtimes being faster - than large time-based bars).

It is because of this extra smoothing for using the Renko bars that the Trix signals are comparatively later (because Trix intorduces more smoothing that the Renko bars don't require).

Thus for those of us using normal time bars ( or HA bars) I think it is still best to use WMA, TM and Trix.

Ian

P.S....
Attached Image (click to enlarge)
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******************* I'd rather make money than be right.
  • #462
  • Jul 14, 2009 7:59am Jul 14, 2009 7:59am
Quoting 4xStar
I'm particularly interested in the indicators you have on the chart, I am never sure which indys work with renko charts.
Just simply the 12 wma, the 200 sma and the thv coral, plus the thv trix which also displays divergence. Generally, i like to make sur that at least the fast trix line on thv trix agrees with super trix. prefer to be on the right side of the coral, exception when there is decent distance between them and the renko bars.

Pardy
  • #463
  • Jul 14, 2009 8:03am Jul 14, 2009 8:03am
Quoting Pardy
Just simply the 12 wma, the 200 sma and the thv coral, plus the thv trix which also displays divergence. Generally, i like to make sur that at least the fast trix line on thv trix agrees with super trix. prefer to be on the right side of the coral, exception when there is decent distance between them and the renko bars.

Pardy
I don't have the thv coral or thv trix. And is super trix another indicator?
******************* I'd rather make money than be right.
  • #464
  • Jul 14, 2009 8:04am Jul 14, 2009 8:04am
Quoting Pardy
Not really compatible, since renko bars are based on pip range, not time.

The chart I posted is based on 3 pip range.

Regards
Thanks Pardy,

I knew about the piprange. As I have another RangeBAr indicator I wanted to see the difference with mine. Here is an exemple.
It's EurUSD, snapshot from this moment.
It's 5 pips per bar!
Attached Image (click to enlarge)
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Trading S/R with PA only. No indicators anymore!
  • #465
  • Jul 14, 2009 8:10am Jul 14, 2009 8:10am
Au Win, but the way gu is running may erase all of my wins today!

Terri
Attached Image
  • #466
  • Jul 14, 2009 8:21am Jul 14, 2009 8:21am
Quoting Jazz1964
Thanks Pardy,

I knew about the piprange. As I have another RangeBAr indicator I wanted to see the difference with mine. Here is an exemple.
It's EurUSD, snapshot from this moment.
It's 5 pips per bar!
Hi,
It looks like you are using the wlas version which is freely available including the mq4 source code. It suffers from not having constant bar size - sometimes not even approximate.

The superior version is from mqlservices and costs around 40 euros (+ tax).
That is for the .exe - the mq4 code will cost more.

I have not bought or used the mqlservices version, have just been checking it out before making a decision to purchase or not. Perhaps not wothrwhile with MQ5 comming out - who knows?

In any case, I do not believe that we need Renko or constant Range Bars for this method. Unless we are trading during the news.

Ian
  • #467
  • Jul 14, 2009 8:29am Jul 14, 2009 8:29am
Quoting ianf0ster
Hi,
It looks like you are using the wlas version which is freely available including the mq4 source code.
Ian
Hi Ian,

Mine is from MQL services. I bought it together with constant volume bars.
Trading S/R with PA only. No indicators anymore!
  • #468
  • Jul 14, 2009 8:31am Jul 14, 2009 8:31am
120 pips during Edges trading time.. so far
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  • #469
  • Jul 14, 2009 8:35am Jul 14, 2009 8:35am
TG, thanks for pointing out the tweaked trix settings (3,E,E,E,C).

EU entry: 1.3976 exit: 1.3986
AU entry: 0.7890 exit: 0.7900
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  • #470
  • Jul 14, 2009 8:43am Jul 14, 2009 8:43am
Quoting Indrek
We have here already sth like 100 free indicators and there are 1000s available in internet... And you BUY more???
Renko is rather special & both Edge & Anne use it. I bought it but so far I am just observing to see if it can give a further edge to my trading.

So far I really like the chart I posted earlier with the 12 wma and the 3 and 5 ema's that cross .. they simulate almost exactly the Trix and so far are proving very easy to follow & accurate.
******************* I'd rather make money than be right.
  • #471
  • Jul 14, 2009 8:47am Jul 14, 2009 8:47am
Glad I bailed on the GU at +1, the signal was there but then she could not get past the daily R1. I keep pivots on my charts for just this purpose.
Attached Image (click to enlarge)
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******************* I'd rather make money than be right.
  • #472
  • Jul 14, 2009 8:59am Jul 14, 2009 8:59am
Quoting Jazz1964
Hi Ian,

Mine is from MQL services. I bought it together with constant volume bars.
All examples I have seen of the mqlservices version (thread in another forum) have had much more constant size than your chart is showing. Some of those bars are well over 10 pips in size.
  • #473
  • Jul 14, 2009 9:05am Jul 14, 2009 9:05am
Quoting ianf0ster
All examples I have seen of the mqlservices version (thread in another forum) have had much more constant size than your chart is showing. Some of those bars are well over 10 pips in size.
i saw that too, don't know what's worng. I thought gaps between quotes, but I think that's not true, because that could be a pip extra.

I think it is conflicting with other EURUSD charts on my desk
Trading S/R with PA only. No indicators anymore!
  • #474
  • Jul 14, 2009 9:09am Jul 14, 2009 9:09am
In today EURUSD activity indies cannot decide what to do

Recommending buy and it's going lower, Sell and it's going higher..

Well at least I know what to do. Sell the DOLLAR you'll never lose
in longer outlook.

Here look at that sell, poor indy
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Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #475
  • Jul 14, 2009 9:10am Jul 14, 2009 9:10am
Hello Anne,

many thanks for your post. Just to be sure, i attached a screenshot of what i think u mean by saying watch out for divergence. Am i right ?


Quoting TudorGirl

All you need is Trix(3,E,E,E,C) or whatever SMs settings are. Then look carefully at what it is telling you.

Big clue: Look at the divergence and the momentum.

Anne
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  • #476
  • Jul 14, 2009 9:10am Jul 14, 2009 9:10am
Quoting Indrek
We have here already sth like 100 free indicators and there are 1000s available in internet... And you BUY more???
There are much fewer differen than you think. Most are just cosmetic changes and re-names of existing indicators :

TM is just CCI and ATR
likewise HG is just some basic indicators combined.
Megatrend is justa Hull MA
Ventana is just an MA in a separate pane.
Vorticity is just the Fisher Transform.
etc. etc.

Anyway, strictly speaking Renko, Constant Range Bars and Constant Volume bars are not indicators. They just have to be implemented as indicators or EAs because of deficiencies in MetaTrader compared to proffessional trading platforms.
  • #477
  • Jul 14, 2009 9:14am Jul 14, 2009 9:14am
Overall the market has been in a range since the US session started. There were a few small retraces that allowed for some trading. I took a couple of late London session trades where my TP is +5 and not the usual +10 for the overlap with the US. I took 3 trades during the US session after the news:

GBP/USD 1 B 1.63129 1.63229 10 1.00 0.00 7/14/2009 09:26 7/14/2009 09:36
EUR/USD 1 B 1.39862 1.39962 10 1.00 0.00 7/14/2009 09:20 7/14/2009 09:36
EUR/JPY 1 B 130.171 130.271 10 1.07 0.00 7/14/2009 09:26 7/14/2009 09:35
EUR/JPY 1 B 130.243 130.293 5 0.54 0.00 7/14/2009 06:15 7/14/2009 06:20
EUR/USD 1 B 1.39847 1.39897 5 0.50 0.00 7/14/2009 06:16 7/14/2009 06:20
Total 5 40 4.11 0.00
  • #478
  • Jul 14, 2009 9:16am Jul 14, 2009 9:16am
Quoting Jazz1964
i saw that too, don't know what's worng. I thought gaps between quotes, but I think that's not true, because that could be a pip extra.

I think it is conflicting with other EURUSD charts on my desk
Yes, my Wlas 5 pip range chart went haywire- I don't know when since the times on it are alwys cr4p and I was not looking at it. But suddenly it started drawing several approx 5 pip bars every second - yet my 1min chart doesn't show that amount of action!
  • #479
  • Edited 9:50am Jul 14, 2009 9:20am | Edited 9:50am
So does anybody have a free Renko script for sharing on this thread?
The one Tex uses is great.

Edit: I have just bought my legal version.
Trading S/R with PA only. No indicators anymore!
  • #480
  • Jul 14, 2009 9:21am Jul 14, 2009 9:21am
Looks like most pairs are flatlining .. anyone have the paddles?

Our Teacher has not shown up, presumably busy with his own trades, we are rather a distraction.
But the spitball fights were at a minimum this morning so I guess we behaved pretty well.

16 pips to go to meet my quota (50) but it's not looking like I'm going to get them before the end-of-class bell rings.

Still a very good day, I am most pleased that I bailed on the GU, figured out in time that she was reversing not just pulling back. Yay.
******************* I'd rather make money than be right.
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