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C4 Scalping

  • #2,541
  • Jul 25, 2009 9:44am Jul 25, 2009 9:44am
Quoting TudorGirl
Hi Everyone

Although I hate it when the markets are closed, at least at the weekend we get some time to THINK REAL HARD, as Our Master would say!!

I am playing with an idea to measure "price continuation likelihood" based on a quadratic polynomial counting argument. I have completely rewritten my own Renko stuff to incorporate this. Chart attached.

As well as the blue/red up/down Renko brick, each brick is colour-coded with a "projected continuation coefficient" (a diamond inside each brick).

If you ignore the colour and up/down...
That is quite interesting indeed.

Time is of the essence!!!!

As I read this, we have a potential 'primer' (Renko block changing color) and 'detonator (Diamond change of color confirmation) sitting right before a traders eyes.

Further, you have a built in SL with a reverse diamond color change. As such, scalpers AND swing traders can trade away like longhorns stampeding. Long as you ride alongside you are OK, veer into their path and it may be uncomfortable.

Switching to Star Trek, I say "Number ONE, please set a course for the furtherest reaches of deep space at MAXIMUM warp and ENGAGE".

Please Expedite at your leisure.

Highest Regards.
  • #2,542
  • Edited 1:44pm Jul 25, 2009 9:46am | Edited 1:44pm
As a conservative (elderly ) person, I still decided to use more indicators compared to Anne's clean chart. But to make it also as clean as possible, I put two Trixes on each other. They are just Trix for Renko and MTF Trix for 15min. Result is interesting, instead of 2 Trixes with histograms I now have sth like a Trix bar...
Just wanted to show it here as at least for my eyes it is an easy-to-understand setup
Attached Image (click to enlarge)
Click to Enlarge Name: renko + 2 trix.gif Size: 38 KB
  • #2,543
  • Jul 25, 2009 9:52am Jul 25, 2009 9:52am
Quoting Jimmy Jones
Go to the image Edge posted, save it or leave it open ...

I know that's a lot of 'work', but he already said he aint handing out this info for free, if you want it, figure it out. He's given us two screenshots now with entris and exits.
That's helpful, Jimmy ... thank you!
  • #2,544
  • Jul 25, 2009 10:04am Jul 25, 2009 10:04am
Quoting TudorGirl
Hi Lou

Ian already answered two of your questions...

Renko is completely independent of time. The "M2" on the chart is just the name MT calls the chart. The names "M1", "M5", M15", etc are reserved for the internal charts but the rest are up for grabs. Please don't associate any TF with the name - it is just a handle.

The Renko script intercepts the raw tick data from the M1 chart same as any indy or EA. By default, this is BID data in MT. It then assembles these into Renko bricks based on your specified brick size only, say...
Thanks for responding, Anne.

As I pointed out to Ian, I am familiar with the concept of charts that are not time-based. The Japanese seem to love that kind of thing and I've read quite a bit about it.

The M2 thing was a bit confusing but I now understand that it's only a name.

If I should develop a useful Renko for use on a one minute chart, I'll simply play around with the LWMA until I find a usable setting.

Keep those posts coming and good trading to you,
Lou
Old Benjamin was right
  • #2,545
  • Jul 25, 2009 10:11am Jul 25, 2009 10:11am
Quoting Indrek
As a conservative (elderly ) person, I still decided to use more indicators compared to Anne's clean chart. But to make it also as clean as possible, I put two Trixes on each other. They are just Trix for Renko and MTF Trix for 15min. Result is interesting, instead of 2 Trixes with histograms I now have sth like a Trix bar...
Just wanted to show it here as for my eyes it is an easy to understand setup
Clever! Trade only when there is agreement (all above or below zero line) and this keeps you out of a lot of low range price action. Nice. Thanks.
  • #2,546
  • Jul 25, 2009 10:24am Jul 25, 2009 10:24am
Quoting ianf0ster
Nsteve,
You are mistaken (or else trying to deceive). Tab 3 (trades List) of his spreadsheet gives you all you need including the time, price, size of each trade.

Ian
My mistake! I didn't notice the other tabs on the spreadsheet.
  • #2,547
  • Jul 25, 2009 10:38am Jul 25, 2009 10:38am
I've bougfht and loaded the Renko bars. Fortunately for me I knew how to create a two minute chart from another thread. As I understand it, you can make the Renko bars any length you want to, such as ten pips, eleven, thirty two. Maybe for those who want to trade longer time frames, they could be set at whatever the ATR is for that pair? Just guessing, as this is my very first foray into Renko.
From what I see so far, I don't know how I lived without them for so long.
  • #2,548
  • Jul 25, 2009 10:44am Jul 25, 2009 10:44am
Where can we purchase the Renko chart for the mt4? thx
  • #2,549
  • Jul 25, 2009 10:47am Jul 25, 2009 10:47am
you can get it here :

http://www.mqlservice.net/catalog/index.php?cPath=3
  • #2,550
  • Jul 25, 2009 10:47am Jul 25, 2009 10:47am
thx!!
  • #2,551
  • Jul 25, 2009 10:52am Jul 25, 2009 10:52am
Quoting paradoxical
I've bougfht and loaded the Renko bars. Fortunately for me I knew how to create a two minute chart from another thread. As I understand it, you can make the Renko bars any length you want to, such as ten pips, eleven, thirty two. Maybe for those who want to trade longer time frames, they could be set at whatever the ATR is for that pair? Just guessing, as this is my very first foray into Renko.
From what I see so far, I don't know how I lived without them for so long.
Bingo!!!!

Just make sure to get ATR reading from whichever candlestick TF you wish and set your Renko block size in round numbers, like 10, 20 blah blah.
They are quite versitile as those taking off on their own with them will soon find out.

Regards.
  • #2,552
  • Jul 25, 2009 10:53am Jul 25, 2009 10:53am
Quoting Edgetrader
Thx Redhouse.

Trades which have already been checked and re-checked by a person or two possessing a PhD in an appropriate field and then certified as accurate.

Ah, the old lead the horse to water thing surfaces yet again.


Regards.

Why no slippage?
  • #2,553
  • Jul 25, 2009 11:10am Jul 25, 2009 11:10am
Hi everyone!

I was about to purchese the Renko at the site mentioned and the price astonished me. Is EUR 135 the price you guys paid for it or has he increased the price recently?

Please let me know, because I really don't want to overpay.
  • #2,554
  • Jul 25, 2009 11:16am Jul 25, 2009 11:16am
Quoting Edgetrader
Bingo!!!!

Just make sure to get ATR reading from whichever candlestick TF you wish and set your Renko block size in round numbers, like 10, 20 blah blah.
They are quite versitile as those taking off on their own with them will soon find out.

Regards.
Edge,

You have actually been quite quiet since throwing your nitroglycerine into the pot - are you just quietly watching as everyone tries to make their own sense of it? I am sure there is more to come from you...and I look forward to it.

Please take a look at my attached chart - renko (Bars Range = 10, Timeframe = 5) with the two Trixes and the 8 period MA as per the last version of C4. Looks easy to trade (although obviously offline at the moment). Please may I have your comments.

And thanks for all you are doing for us.

Paul.
Attached Image (click to enlarge)
Click to Enlarge Name: renko.gif Size: 21 KB
  • #2,555
  • Jul 25, 2009 11:34am Jul 25, 2009 11:34am
Quoting jackal
Hi everyone!

I was about to purchese the Renko at the site mentioned and the price astonished me. Is EUR 135 the price you guys paid for it or has he increased the price recently?

Please let me know, because I really don't want to overpay.
All you need to use it is the .ex4 file. @30. Only need the mq file if you want to have ability to change the code. Most people are not coders.
  • #2,556
  • Jul 25, 2009 11:58am Jul 25, 2009 11:58am
Quoting tommyd
As has been mentioned several times, please understand there is no, as in none, time frame applied to a Renko Chart.
The bars do not use time in any way to determine the open or close of the bar.
The Renko bar only reflects Price.
I understand this perfectly, but when you load the RENKO script it asks for inputs for Bars Range and Timeframe.
  • #2,557
  • Jul 25, 2009 12:01pm Jul 25, 2009 12:01pm
I loaded the exe in scripts,,,Getting ,,,,Renko bars aborted do to disabled dll call,,,,Is that from the lack of weekend data feed,,,thx
  • #2,558
  • Jul 25, 2009 12:04pm Jul 25, 2009 12:04pm
Quoting stav01
I understand this perfectly, but when you load the RENKO script it asks for inputs for Bars Range and Timeframe.
It asks for timeframe so it can create that chart - input 2 and u can then have an m2 chart, input 3 and u will have an m3 chart - this is simply where the renko bars will live.

Pardy
  • #2,559
  • Jul 25, 2009 12:05pm Jul 25, 2009 12:05pm
Quoting piptalk
I loaded the exe in scripts,,,Getting ,,,,Renko bars aborted do to disabled dll call,,,,Is that from the lack of weekend data feed,,,thx
Mahe sure in the commons tab you have ticked all the main 4 boxes, incl the one to allow dll calls, do not tick any of the sub boxes. this should solve it.

Pardy
  • #2,560
  • Jul 25, 2009 12:08pm Jul 25, 2009 12:08pm
Quoting piptalk
I loaded the exe in scripts,,,Getting ,,,,Renko bars aborted do to disabled dll call,,,,Is that from the lack of weekend data feed,,,thx
Piptalk,
No its not becaus eof lack of weekwnd data - you must enable DLL calls. Read the Reame file supplied with the Renko Script.

Ian
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