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C4 Scalping

  • #2,381
  • Jul 24, 2009 10:25am Jul 24, 2009 10:25am
Quoting Indrek
Thanks, but what about the other one? The GU trade was perfect but the rules tried to stop it.
I mean post #2368.
I understand what you are asking, however, I would ask to look at the time you are isolating this GU trade at.

This is not when I recommend trading this thing. As for the Asian/London overlap, I mentioned that it 'looked' like a decent time to trade the plan.

I have tested this plan thoroughly. It is optimized and shows the period I trade to be the single most productive. Any thing else (time) and all bets are off.

Regards.
  • #2,382
  • Jul 24, 2009 10:27am Jul 24, 2009 10:27am
Seems like the key to this approach is the hours traded. Trying to trade this with slow PA is going to chop up the account.

The beginning of the two overlaps seem to be the best time to trade it (tokyo.euro overlap and euro/ny overlap).

I am still the weak link in this system. Need to work on discipline.
  • #2,383
  • Jul 24, 2009 10:28am Jul 24, 2009 10:28am
post #1
  • #2,384
  • Jul 24, 2009 10:33am Jul 24, 2009 10:33am
Quoting iansr1
Sorry been away for the last week. My wife gave birth to our first child! So been busy not sleeping, and feeding.

Anyway back on deck and got out 3 x 5 pip trades today. 2 x GBPUSD and 1 x EURUSD.
Charts attached.
Congratulations to both you and the 'misses'.

Welcome back.

Regards.
  • #2,385
  • Jul 24, 2009 10:35am Jul 24, 2009 10:35am
Congrats

Quoting iansr1
Sorry been away for the last week. My wife gave birth to our first child! So been busy not sleeping, and feeding.
  • #2,386
  • Jul 24, 2009 10:39am Jul 24, 2009 10:39am
Quoting iansr1
Sorry been away for the last week. My wife gave birth to our first child! So been busy not sleeping, and feeding.

Anyway back on deck and got out 3 x 5 pip trades today. 2 x GBPUSD and 1 x EURUSD.
Charts attached.

congratulations iansr1. new additions, more responsibilities.cheers
  • #2,387
  • Jul 24, 2009 10:42am Jul 24, 2009 10:42am
Quoting Edgetrader
Am a hard core Renko trader myself and am going to give everyone a sneak preview of 'Nitro' as promised earlier this week.

What folks are playing with in C4 is real basic stuff that works well overall. There is a bit more yet to come though.

Patience will be rewarded.

Regards.

can't wait 4 what you have in store for all of us here.
  • #2,388
  • Jul 24, 2009 10:43am Jul 24, 2009 10:43am
Thanks Everyone, i am off work next week so hoping to pump out a few more trades.
All my trades are on a live account also - not demo.
I like the 5 pip idea as i like to get in and out as quick as i can. Like to open the trade walk away and come back in a few minutes and it all be over!
  • #2,389
  • Jul 24, 2009 10:45am Jul 24, 2009 10:45am
I just bought your renko bars ex4 in mqlservice.net
I'm having problems accessing it. I'm wondering if anyone had the same problems and how did you solve it.

I did this:
1. Copied the indicator (.ex4) to /experts/indicators
2. Restarted MetaTrader
3. When I opened it, I saw it on the indicators bar.
4. I went to Tools > Options > Expert Advisors and put this:
a. Allow DLL imports: CHECK
b. Confirm DLL function calls: NO CHECK
5. I opened a new EURUSD chart
6. I dragged "s-Renko bars" indicator to Chart
7. Nothing happened.
8. I went to File > Open Offline, I don't see any EURUSD 2m
9. In Terminal, in Journal, I see "Custom indicator s-Renko bars is not custom indicator and will be removed". Then another line that says "Custom indicator s-Renko bars EURUSD,M1; removed"

I'd love to try it today so I don't have to wait all weekend to see it work
Any help would be appreciated.
  • #2,390
  • Jul 24, 2009 10:47am Jul 24, 2009 10:47am
Quoting Pip Prophet
Tribute paid, Is there someone who can tell me which page of the thread I may download the Trix Alert Signal (the arrow) that seems to show up on the price chart itself, as well as on the Trix indicator below. I've seen it on a few of the submitted charts, and although I've looked extensively, I can't locate it. Does it exist at all? Is it an independent indicator, or an option on one of the existing? It would really be the icing on the cake.

hi pip prophet,


the one that shows arrows on the charts is called scalper something. spend sometime over the weekend to look through the variations of trix indis. just click on the paper clip beside the # of pages on the top right hand corner. see which 1 you like and stick with it. thanks
  • #2,391
  • Jul 24, 2009 10:48am Jul 24, 2009 10:48am
Quoting ianf0ster
Hi mtuppers,
I appear to have missed your Proof that your HMA modified alert will improve other traders skills with the C4 method. Please tell me on which posts I can see your minimum of 5 days of actual trades using that indicator.

Ian
sorry I do not have the prof here, as my harddrive just has died. Anyway you still need using other indicators to confirm. as the system I using is way different the c4 method.

however, as long as signal line, hma modified alert, and stochastic same direction. that is confirm the trend. MACD would help you to get max. profit.

but the mq4 file just does not work for me now.

note the new system is not on my sig.
  • #2,392
  • Jul 24, 2009 10:49am Jul 24, 2009 10:49am
Quoting Quantum4x
I just bought your renko bars ex4 in mqlservice.net
I'm having problems accessing it. I'm wondering if anyone had the same problems and how did you solve it.

I did this:
1. Copied the indicator (.ex4) to /experts/indicators
2. Restarted MetaTrader
3. When I opened it, I saw it on the indicators bar.
4. I went to Tools > Options > Expert Advisors and put this:
a. Allow DLL imports: CHECK
b. Confirm DLL function calls: NO CHECK
5. I opened a new EURUSD chart
6. I dragged "s-Renko bars" indicator to Chart
7. Nothing happened.
8. I went to File...
it is a script, not an indicator
You need to add it to scripts, he has an example and instructions on his website. If you are still having trouble I can PM you more detailed instructions
  • #2,393
  • Jul 24, 2009 10:50am Jul 24, 2009 10:50am
Quoting Quantum4x
I just bought your renko bars ex4 in mqlservice.net
I'm having problems accessing it. I'm wondering if anyone had the same problems and how did you solve it.

I did this:
1. Copied the indicator (.ex4) to /experts/indicators
2. Restarted MetaTrader
3. When I opened it, I saw it on the indicators bar.
4. I went to Tools > Options > Expert Advisors and put this:
a. Allow DLL imports: CHECK
b. Confirm DLL function calls: NO CHECK
5. I opened a new EURUSD chart
6. I dragged "s-Renko bars" indicator to Chart
7. Nothing happened.
8. I went to File...
Hi!

Follow this step by step:

first you have to put the script in the script folder (not indicators folder)

1) Open MT4
2) drag S-Renko in one chart you have alread open (for example GBPUSD
5M)
3) choose the parameters (i use 10 pips size for bricks, 2 for TF and 10.000 for Maxbars number)
4) Activate dll import
5) click "OK" and when it alerts you with the "1M chart" click ok

Now...you will see nothing happen...

6) Open offline chart and you will see GBPUSD 2M chart, open it and voilą!
7) Uncheck the "chart without connection" option in the chart properties...

You have do do this operation for every chart you want to have renko and every time you restart MT4

Hope is clear...
Market is like a puzzle, YOU have to fit the pieces!!
  • #2,394
  • Jul 24, 2009 10:51am Jul 24, 2009 10:51am
You got most of it right! The Renko you purchased is a script and needs to go into the scripts folder rather than the indicators folder. The scripts folder is in the experts folder and easy to find. There should be a text file that came with the script with complete directions.

Quoting Quantum4x
I just bought your renko bars ex4 in mqlservice.net...
  • #2,395
  • Jul 24, 2009 10:55am Jul 24, 2009 10:55am
Just to say 'thank you' for your post. Yes, it helped. I do know how to
change most indicators but I didn't understand this on. It is clear now.

again
thanks
  • #2,396
  • Jul 24, 2009 11:13am Jul 24, 2009 11:13am
Quoting Quantum4x
I just bought your renko bars ex4 in mqlservice.net
I'm having problems accessing it. I'm wondering if anyone had the same problems and how did you solve it.

I did this:
1. Copied the indicator (.ex4) to /experts/indicators
2. Restarted MetaTrader
3. When I opened it, I saw it on the indicators bar.
4. I went to Tools > Options > Expert Advisors and put this:
a. Allow DLL imports: CHECK
b. Confirm DLL function calls: NO CHECK
5. I opened a new EURUSD chart
6. I dragged "s-Renko bars" indicator to Chart
7. Nothing happened.
8. I went to File...

Hi,

1. Add the script to your experts folder. not needed in scripts or indicators.
2. This way it works as an ea and comes on automatically when u open ure platform. (With using as a script u need to load it every time).
3. Put this "ea" from the navigator on an m1 chart of say gu. In the input boxes enter the pip size you want. In the common tab make sure all main boxes are ticked, but the sub boxes are not ticked.
4. Press ok, turn on expert advisers button.
5. Go to File Offline, you will find the m2 chart of gu, open it.
You're done.
I'll also reply to your pm shortly, sorry been pre-occupied a bit.
Regards
Pardy
  • #2,397
  • Jul 24, 2009 11:19am Jul 24, 2009 11:19am
OK, here is your sneak peak at 'Nitro' as promised.

The attached file is a MS Office deal so it is the only format I have to provide such. It simply shows the data on the chart so hope most of you can open it. If you have 'good work tools' to do your job, this wont be a problem.

Not sure the Renko deal many are purchasing is good enough to do the trick as it is not true Renko. It may be sufficient though. If someone wants to send me a copy of it, I will test and optimize the thing and advise as to MT4 usage.

There are a number of people here that can see the value in the basic trading plan I have set forth. Have traded such along with you long enough to know that you should have gotten some sense of its viability after a few weeks.

Take a look at the 'Nitro' chart. It is what it is and yes, there is an 'ea' operating on such. Do not ask me to share that with you as I have already mentioned more than once that "you learn and you earn, or consequently, you learn or you burn". I have provided sufficient material to allow you to trade consistently. The only thing I cannot provide is the 'mental' aspect needed. That one you yourself will have to develop.

This type of scalping, in my estimation, is going to put to rest the ongoing battle between more pips on higher TF trading, and even higher TF trading in general. My average work day lasts a VERY short time. Have already set forth my own goals within this thread, how you decide to trade is your own choice. This also should lay to rest those old, worn out adages concerning R/R. The industry is, like everything else, evolving rapidly.

In the 'old school', folks were pounded with the 'buy and hold' concept when investing. That, imo, has run its course and I have long since moved away from that. I think that, in these uncertain times, CASH IS KING.

Have said from day one that I promote a 'less is more' trading concept. That will never change!! Get it quick, say thanks, and leave the area. Repeat as you wish. Here is just one currency pair that, traded correctly, will be long term successful. There are several others also.

True Renko does not give a damn about TF trading. It works strictly on a PA basis as some here have commented on. There is do doubt that it has the ability to smooth PA somewhat and give a trader a 'big picture' view instantaneously, especially at 10 tic brick size. You need a primer and detonator, that is all. I also told everyone previously that the more you make, the better tools you can get. There is a gradual progression from general laborer, to apprentice to master craftsman.

Enjoy the visual but remember. You have to earn your stars in this industry. While this (FF) may be a public forum, and the information is indeed free, this (C4) is not an entitlement thread. Do the work needed and you will do well. You have everything necessary and you have for a few weeks already.

'Simplicity, the single hardest trading concept to wrap your mind around'.

Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: nitro.jpg Size: 172 KB
Attached File(s)
File Type: xls nitro.xls   177 KB | 1,358 downloads
  • #2,398
  • Jul 24, 2009 11:30am Jul 24, 2009 11:30am
Quoting Edgetrader
OK, here is your sneak peak at 'Nitro' as promised.

The attached file is a MS Office deal so it is the only format I have to provide such. It simply shows the data on the chart so hope most of you can open it. If you have 'good work tools' to do your job, this wont be a problem.

Not sure the Renko deal many are purchasing is good enough to do the trick as it is not true Renko. It may be sufficient though. If someone wants to send me a copy of it, I will test and optimize the thing and advise as to MT4 usage.

There are a number of people here...
Here we need an explosion protection I think :-)

the xls files give me errors...i don't know why..

thanks Edge!
Market is like a puzzle, YOU have to fit the pieces!!
  • #2,399
  • Jul 24, 2009 11:31am Jul 24, 2009 11:31am
Cannot open file EDGE
  • #2,400
  • Jul 24, 2009 11:34am Jul 24, 2009 11:34am
Quoting angus
I'm well aware that renko bricks are not time based, but the point I was trying make is that mt4 does not offer renko as a chart style, only time based charts.
So, you're taking a 1min chart(which is the lowest time frame available) and converting it to a renko bar, in essence, just removing the time stamp, but not really because the data is still received in "1min packets" and not in tic form.
But hey, it is a pointless argument because without a central exchange it's anybodies guess how your broker compiles the data you receive.
Hi Angus

Absolutely wrong, I'm afraid!! The commercial Renko addition to MT intercepts the genuine tick-by-tick data as it arrives and packetizes it up into Renko bricks. The time axis has times but they are non-linear.

I have MT4 and TS 2Ki running side by side and the Renko charts are identical in all respects.

Anne
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