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C4 Scalping

  • #2,581
  • Jul 25, 2009 6:12pm Jul 25, 2009 6:12pm
To me renko is not necessary. If you use the indies on the original post and trade with the 15 minute mtf trix it is a ridiculous hit rate. Make sure the colors on both trix are deep green for long and maroon for short. When price retraces and the colors go back to green or maroon that is also a high percentage re entry. Looking forward to the two hour Asian window and morning NY session. Good luck out there.
  • #2,582
  • Jul 25, 2009 6:30pm Jul 25, 2009 6:30pm
Do you place your trade as soon as the 15 minute trix lights up, a little while after, or when the 15 minute trix bar closes and stays lit? If you trade when the 15 minute bar closes, isn't that the same as trading off a 15 minute chart? Not that I'm saying that's bad. Just asking.
Quoting sirogreness
To me renko is not necessary. If you use the indies on the original post and trade with the 15 minute mtf trix it is a ridiculous hit rate. Make sure the colors on both trix are deep green for long and maroon for short. When price retraces and the colors go back to green or maroon that is also a high percentage re entry. Looking forward to the two hour Asian window and morning NY session. Good luck out there.
  • #2,583
  • Edited 8:22pm Jul 25, 2009 6:34pm | Edited 8:22pm
Quoting angus
Well, all credibility has gone right out the window on that one. The slippage I'm referring to is not caused by the broker but by high volatility which causes prices to move quickly.

I used Tradestation for a few years, and sure, it's really easy, using a simulation, to take a simple strategy, optimize it and generate a performance report with perfect entries and exits, no slippage and no partial fills that looks quite fantastic.But wait until you try that live.

And if you think by using limit orders only that is somehow going to guanrantee...
Here we finally have the galactically stupid posting from those who claim to know that of which they speak. In the old days, I would have responded with a bit more zeal. Thanks for throwing 15 posts of wisdom to help out the FF community in general. Will address this briefly.

Slippage caused by high volatility to PA? Why did you not just ask this in the first place? The only relatively high volatility times facing someone trading the Forex is a high impact news release. Nobody trades the time around such anyway, so the question is moot.

Take a simple strategy and optimize it? Pretty much covers every single strategy ever presented in FF or any other forum ever. Yet another moot point.

Generate a performance report with 'perfect' entries? Again, a moot point as the ea will get it right every single time based upon the inputs programmed into the thing. It is the EXIT that will determine profitability, entries are really quite flexible.

Slippage and partial fills on a 1 standard lot order? You are really exposing ignorance here.

Limit orders? Market orders? Buy Stop order? Sell Stop order? How the hell do you even attempt an educated guess at how I place an order? More speculative BS and irrelevant to the plan in general. Again, it is your exit strategy that will determine profitability.

Run it by the TS forum? Get a general consensus? More BS. Same result as here in FF, and as it would be in ANY other forum. Some choose to check it out and trade it, some choose to look elsewhere, and some look to tear it down by just throwing out unsubstantiated opinion. Did you trade it? Nope. Did you trade anything in this entire forum? Nope. And yet you speak of 'credibility'.

Hell Angus, the material is FREE. Since when was credibility a prerequisite for someone offering something that costs someone nothing at all? Credibility only becomes an issue once someone does other than run their yap and actually provides indisputable evidence of erroneous statements or claims. As I have done neither, I certainly am not to be taken to task by one who has done nothing at all.

Lastly, had you bothered to do even the tiniest bit of work, you would have found that the strategy was run on a 24/7 (24/6 to be exact) basis and every single trade made, whether in slow or high volatility trading times was there for review. So much for slippage.

Anyway, thanks for allowing us the opportunity to have some fun with our endeavors.
  • #2,584
  • Jul 25, 2009 6:36pm Jul 25, 2009 6:36pm
Quoting Dr.Scalpall
Edge, Dont laugh? but Is the picture that was attached to post 2579 one of a tweaked "smC4scalper candles_v3" indie to look like renko or is it a picture of the renko that everyone seems to be buying??

Regards

doc
That is the 'purchased' Renko and remains an issue to be decided during live PA.

I am not sure on the MT4 Renko with candle wicks also as it is not true in nature.

Will defer until Sunday how this affects trading plan overall.

Regards.
  • #2,585
  • Jul 25, 2009 6:38pm Jul 25, 2009 6:38pm
Quoting hoichoi
can anyone tell me what are the settings for LWMA if i use renko charts?

thanks
I am trying it set initially at 8,3,6.

Regards.
  • #2,586
  • Jul 25, 2009 6:39pm Jul 25, 2009 6:39pm
Quoting pgpb
I think it is a brilliant idea to delete all posts that are not of value to helping others learn. I can not figure out how to delete my posts though.
Can someone pm me and let me know how to do that. (then I will delete this one....and others that do not have charts.
Just go back to your postings and hit the 'edit' button on the bottom right and then delete the posting.

Regards.
  • #2,587
  • Jul 25, 2009 7:15pm Jul 25, 2009 7:15pm
Quoting Edgetrader
Hell Anus, the material is FREE.
Wow edge, you tore him a new angus.
  • #2,588
  • Jul 25, 2009 7:39pm Jul 25, 2009 7:39pm
Quoting redhouse
Wow edge, you tore him a new angus.
******************* I'd rather make money than be right.
  • #2,589
  • Jul 25, 2009 7:42pm Jul 25, 2009 7:42pm
Quoting Edgetrader
I am trying it set initially at 8,3,6.

Regards.
I get the 8 and the 3 .. but what is the 6?

And did you put SM's trix colored candles on the renko chart?
******************* I'd rather make money than be right.
  • #2,590
  • Jul 25, 2009 8:17pm Jul 25, 2009 8:17pm
Quoting 4xStar
I get the 8 and the 3 .. but what is the 6?

And did you put SM's trix colored candles on the renko chart?
The '6' is the applied price under the input tab.

Yes indeed, I am trying it with the SM trix colored candles indi..

Get to eliminate the whole trix indi possibly. The LWMA will show trend.

Waiting to see if Anne can finish the 'diamond' thing later on.

Pretty clean chart. Almost makes one wonder what the heck is going on. I could understand how someone may be suffering a 'lack' of information anxiety.

Regards.
  • #2,591
  • Jul 25, 2009 8:24pm Jul 25, 2009 8:24pm
Quoting redhouse
Wow edge, you tore him a new angus.
My bad, forgot a letter during a rant. Have edited posting.

Did not like the unsubstantiated crap so many throw out here, but certainly am not trying to besmirch the mans name. Was an error on my part.

Regards.
  • #2,592
  • Jul 25, 2009 8:33pm Jul 25, 2009 8:33pm
When i get a 5 minute signal the 15 minute trix has to be lit up or I will not take the trade. I attached two charts to show what I mean on Fridays NY session. On the eur/usd chart the third trade is what I mean by a re entry, the five minute lit up again after 5 minute trix retracement and the 15 minute was lit. The first winner on gbp/usd is the same safe re entry. I use the same technique on eur/jpy and aud/usd. All entries on Friday were winners. I did not take the later trades because I will not trade after 1pm eastern on Friday. It is usually safe to use Edge's system until 2pm eastern mon-thurs. Hope this helps...

Quoting paradoxical
Do you place your trade as soon as the 15 minute trix lights up, a little while after, or when the 15 minute trix bar closes and stays lit? If you trade when the 15 minute bar closes, isn't that the same as trading off a 15 minute chart? Not that I'm saying that's bad. Just asking.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur.gif Size: 29 KB
Click to Enlarge Name: gbp.gif Size: 25 KB
  • #2,593
  • Jul 25, 2009 8:38pm Jul 25, 2009 8:38pm
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...
Hi Anne, had a question for you and was wondering if I could send you a pm or some other way to contact you so that it doesn't detrack from this thread?
  • #2,594
  • Edited 9:17pm Jul 25, 2009 8:41pm | Edited 9:17pm
Thanks Garry for posting your template, & to Dxtrade for the info v2 indi.

Trying to put the latest pieces of the c4 puzzle together a bit better.
Tried not to put too much "crap", on Garry's template, sorry Garry I'm indi- junky trying to break the habit, but tired only to place useful non redundant indies on your template.
There's something appealing about getting rid of the candles, guess I can see what the price is actually doing rather than watching candles form. Didn't get much c4 hands on training in last week so just playing catch-up through back-testing.

The Dxtrade info v2 show the trend and warns/reminds you when the market is ranging. Shows the time left for a candle to complete. I don't make a trade against it's build in ADX trend indi, and don't make a trade if ATR(20) x3 sl is above 20 pips. Was able to drop the ToR 1.2 indicator from bottom of my charts with it too. & Seems to back test well which I think he said it couldn't do.

I'm using vorticity signal indi arrows as a primer.
Trix set at 6,e,e,e to simulate 15 min mtf version, my detonator.

Trendmagic is from Paulus' trend magic thread and used here only as a virtual trailing stop loss, as Paulus had recommended. 1st hard stop set at 10 pips, but is move to the first formed flat line of trendmagic set at 20,9. If trend holds move the SL to the next, then the next, until you get opposite signal from vorticity signal arrows or your trailing stop loss is hit, hopefully in profit of 5 pips or more.
Seems to be doing well in back-test, guess time will tell how the setup works forwardly. Have a good trading week to all.........
Think I can live without the renko stuff for now.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd backtest.gif Size: 36 KB
  • #2,595
  • Jul 25, 2009 8:53pm Jul 25, 2009 8:53pm
Having traded MTF sometime ago, and spent a few hours observing the MTF Trix on the 5M chart, I have the following suggestion to the people who want to continue to use the MTF style.

Basically, when trading 5M chart with 15M mtf indicators, you are essentially trading the 15M chart taking entries on the 5M, not the other way round as most are thinking. Hence, pull up a 15M chart, put trix and mtf trix set to 5M. This way, there is no chance of the 15M trix changing colour, position, direction on the third 5M candle, as can happen on a 5M chart.

Though, I think the mtf trading style might become redundent, with the introduction and continuation of the renko charts.

Happy trading.

Regards,
K.
  • #2,596
  • Jul 25, 2009 8:53pm Jul 25, 2009 8:53pm
Edge
I am using the C4 and Indrek's longer TF both with a good success ratio. Only demo at this stage. I am an architect and have one screen with the charts (4) pairs while I work on CAD on another screen. My problem is that when I take my eyes off my work and glance at the charts I often see that a good trade has passed me by. This is the obvious problem with M5 trading. You blink and its gone!! )On the longer TF, you can miss a few pips at the cross and still make pips but that doesn't help with C4).

I have tried many different indis on this thread with alerts but have not found one that is reliable. I get signals that are not worth having so I tend to ignore them or turn them off as they distract rather than help. With total respect for Swingman's efforts (and they are commendably many) I have not found his alerts to give signals which are reliable. I only need to know that Trix has crossed the 0. Is there a version of Trix that does that?

Have a good weekend all - maybe I can catch up on this runaway train of a thread!
Karl
  • #2,597
  • Jul 25, 2009 9:13pm Jul 25, 2009 9:13pm
Quoting scartree
Edge
I am using the C4 and Indrek's longer TF both with a good success ratio. Only demo at this stage. I am an architect and have one screen with the charts (4) pairs while I work on CAD on another screen. My problem is that when I take my eyes off my work and glance at the charts I often see that a good trade has passed me by. This is the obvious problem with M5 trading. You blink and its gone!! )On the longer TF, you can miss a few pips at the cross and still make pips but that doesn't help with C4).

I have tried many different indis on this...
Karl,
Think you'll find Swingman's fixed trix alarm indi's near one of his last post.
I've been having the same problem with catching late signals so going to try using the vorticity signal arrows on my charts (should be able to find it under paper clip, top upper right) that is if I get to trade the prime time this week. It's at least a couple 5 min bars ahead of the trix 0 cross alerts, or at least that's how it appears in my back test, you can see a screen shot of it in my last post, guess we were typing about the same time so you'll have to go back one page to see it.
I'm sure Edge will follow up with you if I left something out.
  • #2,598
  • Jul 25, 2009 9:22pm Jul 25, 2009 9:22pm
Thanks for that clarification, and posting the charts. Was what I thought you were saying in your initial post, but wanted to be sure.
Regarding trades after about 1:00 or 2:00 PM Eastern time, I couldn't agree with you more. I've tried a number of small live trades after those times just to test things out, and the market simply doesn't react the same in the afternoon hours for both EST and PST. Also have found that 7:00 EST to about 10:00 PM is really lousy. I have completely sworn off trading those times now, even with pennies because nothing works.
Quoting sirogreness
When i get a 5 minute signal the 15 minute trix has to be lit up or I will not take the trade. I attached two charts to show what I mean on Fridays NY session. On the eur/usd chart the third trade is what I mean by a re entry, the five minute lit up again after 5 minute trix retracement and the 15 minute was lit. The first winner on gbp/usd is the same safe re entry. I use the same technique on eur/jpy and aud/usd. All entries on Friday were winners. I did not take the later trades because I will not trade after 1pm eastern on Friday. It is usually...
  • #2,599
  • Jul 25, 2009 9:47pm Jul 25, 2009 9:47pm
One last screen shot before signing off for the night....

Hope this setup works as well in forward test..........
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd backtest 20 pips.gif Size: 34 KB
  • #2,600
  • Jul 25, 2009 9:48pm Jul 25, 2009 9:48pm
I just got "renko", and am a newbie with them, but trying to be a fast learner. On this chart, the bars are set at 13 pip increments, which I figure would get me 5 pips after spread both ways. This is a weekend, and time to fool around with different things.
You'll see some arrows and numbers which show when a "candle eats a candle". (not my invention, from another thread). Many times, when that occurs, it's a very good indication of price action going that way and a good time to jump on board for some quick pips. The attached chart is incomplete due to no live feeds on Saturday, but it shows enough of a time frame to get a picture.
I can get a sound and text signal when that occurs on the renkos, as you can see. At least I HOPE I can get an audible...will know Sunday night.
Seems pretty cool to me. All I gotta do is wait for the "beep" and then check to see if the renko bar is under the red 8 LWA for a short, or over the 8 LWA (blue) for a long.
Should work with any setting one wants. A renko size of 13, 25, 30, 40, etc.
Attached Image (click to enlarge)
Click to Enlarge Name: gu at 13 renko.gif Size: 37 KB
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