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C4 Scalping

  • #2,661
  • Jul 26, 2009 10:39am Jul 26, 2009 10:39am
Quoting SwingMan
- Chart 1: only entrys. This must be similar with the entrys in the TS chart. As result I have also 100% wins!
I am afraid that in real life there would not be only winners on your charts...
What I mean are the bricks that have an arrow below or above and after which PA has turned to the opposite direction.
Mathematically a 10 pip brick is really a win but we have to consider 1) spread and 2) the fact that possibly we are not able to open the position exactly at the open of new brick but at least for 1-2 pips later.
So, I would say that winners are only these bricks that have an arrow up/below and that are followed by a brick that goes to the same direction.
  • #2,662
  • Jul 26, 2009 10:46am Jul 26, 2009 10:46am
Quoting pjohenathen
Hi edgetrader,
In my terminal smrenko not working.ple help me
It's called helping yourself .. you will find all your answers in previous posts about renko.
******************* I'd rather make money than be right.
  • #2,663
  • Jul 26, 2009 10:46am Jul 26, 2009 10:46am
Quoting 4xStar
It may not have to be so complicated...

My life motto is: why easier if you can make it complicated !

  • #2,664
  • Jul 26, 2009 10:52am Jul 26, 2009 10:52am
Quoting SwingMan

My life motto is: why easier if you can make it complicated !

Point taken LOL

And ... why build one when you can build two for twice the price?
(from the movie "Contact")

Some questions .. your v2 signals give a lot of bad signals (end of trend) and late signals compared to just eye-balling the chart and matching the trix candles with applied price ma. I assume you are working on a complicated solution to resolving this ...
And .. with the applied price ma indicator, there is a middle color that sometimes appears inside the upward sloping lines but rarely in the downward sloping ones .. what does that color mean?
******************* I'd rather make money than be right.
  • #2,665
  • Jul 26, 2009 10:55am Jul 26, 2009 10:55am
Quoting SwingMan
With the new version of the Renko Signal indicator I tried to check the accuracy of the entry signals.

Because I have little time to think, I have to programmed, please post possible errors.

- Chart 1: only entrys. This must be similar with the entrys in the TS chart. As result I have also 100% wins!

- Chart 2: only signals. The signals are filtered with the moving average LWMA 8.

- Chart 3: (filtered) signals and entrys.


( The results are not calculated correctly in this version because I...
The LWMA set at 8 is experimental with these MT4 Renko things as I do not know how it will operate one we have live data.

I am 'speculating' that the LWMA may not be needed in the end as I am more inclined to operate off a trix confirmation anyway. We already have that with the SM trix candle color indi at this time.

100% strike rate? At what TP level? +10? Does that include spread? What about slippage? Did you run this by 6 other forums for a consensus? All credibility just went out the window. What order type is used? Who the heck is going to buy that? Not even a performance report? Where are your trading account statements? How long have you traded this methodology? How many books are written on this? Is my broker going to allow this type of trading? Will this give me too much of an 'edge'? Has this been back-tested? Forward tested? Which TF do we trade? Can point and figure charts be used? Do the indicators repaint? Does this work any time of day? I have a multimeter indi that shows market trend, will this be a good addition? Lastly, can you make a combined 217 indicator MTF whammer jammer histogram targeting time continuum theory based on algorithmic oscillation within the convexed period designated as 'brunch'? Oh, is there an 'ea' for this as I cannot watch a computer all the time. I have to work 8 hours at my day job and I already have 8 hours devoted to reading threads on FF. I need to other 8 hours to sleep so I can do it again the next day. Can pivot points increase that strike rate?

SW, no offense intended with the 'question' paragraph, just clowning around some on a Sunday.

Folks, do not intend to be insulting or demeaning with the question section. Nothing there is malicious in nature. You need a primer and a detonator is all I am saying. Really. Thats it. No, not joking. It is what it is. Learn and earn, learn or burn. Yak, yak, yak, yak.

Highest Regards.
  • #2,666
  • Jul 26, 2009 10:55am Jul 26, 2009 10:55am
Quoting Pardy
Q for you, is this indi/signal only working with 10 pip bars, or can that be made user adjustable?
Please read again my post #2657.
Is possible, but whay ask you this now, before you have traded a week with this setting? Edge traded few years the 10/20 setting and is satisfied.
  • #2,667
  • Jul 26, 2009 11:00am Jul 26, 2009 11:00am
Quoting Indrek
I am afraid that in real life there would not be only winners on your charts...
What I mean are the bricks that have an arrow below or above and after which PA has turned to the opposite direction.
Mathematically a 10 pip brick is really a win but we have to consider 1) spread and 2) the fact that possibly we are not able to open the position exactly at the open of new brick but at least for 1-2 pips later.
So, I would say that winners are only these bricks that have an arrow up/below and that are followed by a brick that goes to the same direction....
As SwingMan says this indicator is not for real trading...for now...we don't know how it can work in live market...
But if you watch renko charts in real time...you can see that when a brick is closed and another one is forming...the price doesn't go only in one direction...it can also retrace a bit before to continue...and it retraces most of the times....
So...you can enter the trade 1 or 2 pips above a buy signal...or maybe 1 or 2 pips below... ;-)
Anyway...i will continue to go for 5 pips...and not 10...the probability is higher..
Market is like a puzzle, YOU have to fit the pieces!!
  • #2,668
  • Jul 26, 2009 11:03am Jul 26, 2009 11:03am
Quoting 4xStar
And .. with the applied price ma indicator, there is a middle color that sometimes appears inside the upward sloping lines but rarely in the downward sloping ones .. what does that color mean?
Here is a chart example .. I made my middle line black due to white bg and it appears in uptrends but not in that strong downtrend...
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 14 KB
******************* I'd rather make money than be right.
  • #2,669
  • Jul 26, 2009 11:03am Jul 26, 2009 11:03am
Quoting Edgetrader
The LWMA set at 8 is experimental with these MT4 Renko things as I do not know how it will operate one we have live data.

I am 'speculating' that the LWMA may not be needed in the end as I am more inclined to operate off a trix confirmation anyway. We already have that with the SM trix candle color indi at this time.

100% strike rate? At what TP level? +10? Does that include spread? What about slippage? Did you run this by 6 other forums for a consensus? All credibility just went out the window. What order type is used? Who the heck is going...
Perfect consideration...as always!!
Market is like a puzzle, YOU have to fit the pieces!!
  • #2,670
  • Jul 26, 2009 11:04am Jul 26, 2009 11:04am
Quoting Edgetrader
100% strike rate? At what TP level? +10? Does that include spread? What about slippage? Did you run this by 6 other forums for a consensus? All credibility just went out the window. What order type is used? Who the heck is going to buy that? Not even a performance report? Where are your trading account statements? How long have you traded this methodology? How many books are written on this? Is my broker going to allow this type of trading? Will this give me too much of an 'edge'? Has this been back-tested? Forward tested? Which TF do we trade?...
I LOVE it!!!
******************* I'd rather make money than be right.
  • #2,671
  • Edited 11:26am Jul 26, 2009 11:09am | Edited 11:26am
Quoting Edgetrader
100% strike rate?...
This is too much for my english understanding, but I have to keep you are not satisfied with my simple indicator.
No problem: no more false indicators from me.
  • #2,672
  • Jul 26, 2009 11:11am Jul 26, 2009 11:11am
If someone wants to see what the win rate of 10 pips for the GBP/USD might theorectically be using the Renkos, why wouldn't the Renkos be set for 18 PIP bricks, to cover the spread, and 14 for the EUR/USD, etc.? Am I not understanding something? If you just have it set for 10, isn't that just the gross amount?
Quoting Indrek
Then you probably use 5-pip bricks? It would make sense, I think?
  • #2,673
  • Jul 26, 2009 11:12am Jul 26, 2009 11:12am
Quoting Indrek
Then you probably use 5-pip bricks? It would make sense, I think?
No...I use 10 pips bricks...but this is irrelevant...the doctor has not said me that i have to take an entire brick
Market is like a puzzle, YOU have to fit the pieces!!
  • #2,674
  • Jul 26, 2009 11:15am Jul 26, 2009 11:15am
If I am using a 10 tic Renko chart, it is possible for the PA to go 9 pips beyond my last closed bar before it reverses and paints another 10 tic bar in the opposite direction, I believe that is correct. That means if I have a 10 tic Renko chart up and the last bar is an up bar, a pair in theory could range from 9 pips higher to 19 pips lower of the last bar close without painting a new bar.

For that reason I am working on a hard stop of somewhere behind the last bar + spread, because I just don't like the idea of having losses be twice the size of winners, and from what I have seen edge say I don't think he ever lets a loss get that big.

Feel free to correct me if I am wrong, as it is a good possiblity I am
  • #2,675
  • Jul 26, 2009 11:16am Jul 26, 2009 11:16am
Quoting Chris_B
No...I use 10 pips bricks...but this is irrelevant...the doctor has not said me that i have to take an entire brick
But isn't it so that the less the brick size the better can we visually estimate what is going on and the faster we can react? Or is it just a question of training our eyes
I cannot imagine how could I understand real direction or behaviour of PA if I had 30-40-pip bricks before me...
  • #2,676
  • Jul 26, 2009 11:16am Jul 26, 2009 11:16am
Quoting SwingMan
Please read again my post #2657.
Is possible, but whay ask you this now, before you have traded a week with this setting? Edge traded few years the 10/20 setting and is satisfied.
Hi Swingman,

Just because I am just starting to get used to 5 pip range renko's, these are what I have been watching!!!

Be useful if it was user definable also for others who like the longer tf's like Irathi and Indrek. ( Aside, just noticed, maybe those whose initials are "I" are inclined towards higher tf's??!!)
  • #2,677
  • Jul 26, 2009 11:17am Jul 26, 2009 11:17am
Quoting Edgetrader
I am 'speculating' that the LWMA may not be needed in the end as I am more inclined to operate off a trix confirmation anyway. We already have that with the SM trix candle color indi at this time.
I agree, and have already taken it off my Renko charts. It seemed to filter out a bad trade every once in awhile on a time based chart, but through all of my back testing this weekend I have not seen one instance where the lwma was helpful as a primer on the Renko chart.

I also wanted to throw out there the difference I have noticed between an MT4 broker and Oanda. In my opinion it would be insane expecting to get a full target (ie. 10 pip target) if trading with an MT4 broker, as they tend to re quote and slip like crazy. However on Oanda I rarely have any kind of delay when entering or exiting, it's dang close to instantaneous.
  • #2,678
  • Jul 26, 2009 11:18am Jul 26, 2009 11:18am
Quoting Edgetrader
100% strike rate? At what TP level? +10? Does that include spread? What about slippage? Did you run this by 6 other forums for a consensus? All credibility just went out the window. What order type is used? Who the heck is going to buy that? Not even a performance report? Where are your trading account statements? How long have you traded this methodology? How many books are written on this? Is my broker going to allow this type of trading? Will this give me too much of an 'edge'? Has this been back-tested? Forward tested? Which TF do we trade?...

Exact sentiments here. Couldn't have said better.
  • #2,679
  • Jul 26, 2009 11:22am Jul 26, 2009 11:22am
Quoting Indrek
But isn't it so that the less the brick size the better can we visually estimate what is going on and the faster we can react? Or is it just a question of training our eyes
I cannot imagine how could I understand real direction or behaviour of PA if I had 30-40-pip bricks before me...
The pips number of the brick is a personal and intimate choice...
You can choose the number of pips that is better for you...there isn't a universal number that suits all people...
The less pips a brick have...the less the PA is smoothed....

What i would to tell you...is that you are not liable for take an entire brick, i can also have 10 pips brick but exit from my trade at 5 pips gain....

For now...10 pips brick is my preferred option..but it doesen't mean that i will not change my idea...
Market is like a puzzle, YOU have to fit the pieces!!
  • #2,680
  • Jul 26, 2009 11:23am Jul 26, 2009 11:23am
Quoting Jimmy Jones
If I am using a 10 tic Renko chart, it is possible for the PA to go 9 pips beyond my last closed bar before it reverses and paints another 10 tic bar in the opposite direction, I believe that is correct. That means if I have a 10 tic Renko chart up and the last bar is an up bar, a pair in theory could range from 9 pips higher to 19 pips lower of the last bar close without painting a new bar.

For that reason I am working on a hard stop of somewhere behind the last bar + spread, because I just don't like the idea of having losses be twice the size...
Kon ban-wa! You are up late :-)

I believe Edge does have a 2 to 1 sl to tp ratio because the percentage of the wins is so great. You are correct in how you assess the movement of the 10 pip bars .. if you buy at close of an up bar, trade can go -19 against you without painting a new bar.

It was hard for me at first to accept the larger SL but as I kept going (in a micro acct!) I found that the win percentage is really so high .. it is no longer an issue.
******************* I'd rather make money than be right.
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