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C4 Scalping

  • #2,901
  • Jul 27, 2009 9:50am Jul 27, 2009 9:50am
I wrote the attached Renko indicator on Sunday afternoon. It should be considered a beta version (not ready for prime time) so if anyone would like to be a beta tester, feel free.

The indicator runs in the chart window which I have set to line graph with the line color set to black.

When you first place the indicator on the chart you will see nothing but as the ticks arrive a Renko line graph will gradually appear. I will probably change the line to a series of bricks a bit later on (although I'm getting to like the line as I monitor it).

The screen shot shows the chart 90 minutes after starting the indicator. The blue line is a LWMA12 using the Renko line's data (looks a bit weird at the beginning due to not enough data points).

Let me stress that although the Renko line is being drawn in a time-based format, the actual tick data is accumulated as it is received.

Be sure to set the brick size BEFORE you apply the indicator - you cannot change brick size mid-stream without losing the tick data you will have accumulated.

Enjoy (I hope). I'll post revisions to the indicator as I finish and test them.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd90.gif Size: 18 KB
Attached File(s)
File Type: mq4 Renko_CW.mq4   2 KB | 755 downloads
Old Benjamin was right
  • #2,902
  • Jul 27, 2009 9:53am Jul 27, 2009 9:53am
Quoting 45Fxguy
Ok, just playing around, I'll get back to work now Edge.
Don't think anyone is really keeping score yet anyway.


Here's 7 more points for team C4.
C4 will operate in the 80 percentile range over an extended period of time and MUST be traded exactly as set forth, especially the time of day to trade.

Nitro is borderline slam dunk stuff and affords traders WORLDWIDE the opportunity to trade the method. Remember, all the information provided on such to this thread was based on a 24/6 operation. As such, there is some valuable versatility build in with regard to time traded. The four pairs shown previously operate in the lower to mid 90 percentile range if traded on the less is more concept.

Regards.
  • #2,903
  • Jul 27, 2009 9:59am Jul 27, 2009 9:59am
As shown, has a pretty high strike rate and rarely fails to perform.

Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: smoke.jpg Size: 183 KB
  • #2,904
  • Jul 27, 2009 10:01am Jul 27, 2009 10:01am
By the way (to anticipate a question), the indy I posted is using a 5 pip brick size, not 50 - my broker's demo server is a 5 decimal format.
Old Benjamin was right
  • #2,905
  • Jul 27, 2009 10:01am Jul 27, 2009 10:01am
Another quick 10 pips for RENKO. Hey C4 guys I am starting to like this NITRO stuff.
Attached Image (click to enlarge)
Click to Enlarge Name: renko 12.gif Size: 14 KB
  • #2,906
  • Jul 27, 2009 10:09am Jul 27, 2009 10:09am
Have asked (yesterday) FF admin. to monitor thread and insure we are in compliance with this MT4 Renko material.

No e-mails have been returned and no 'guardian' postings have surfaced so am assuming all is well.

Just an FYI input.

Regards.
  • #2,907
  • Jul 27, 2009 10:09am Jul 27, 2009 10:09am
Finished my first days trading today with 3 trades on eur/usd which all made profit for 30 pips total. I am simply using the basic set up with just the 5 min trix and coloured MA. Be interested to see how things go over time many thanks to edge for this system
  • #2,908
  • Jul 27, 2009 10:17am Jul 27, 2009 10:17am
OK, time to go to work.

Have a seminar to put on this morning.

Will check in a bit later.

Good job all, stick to either of the plans and you will do fine.

Focus and apply effort.

Regards.
  • #2,909
  • Jul 27, 2009 10:17am Jul 27, 2009 10:17am
Quoting Lou G
I wrote the attached Renko indicator on Sunday afternoon....
How do you apply the LWMA to the Renko-line?
/ ... clarifying decisions ... /
  • #2,910
  • Jul 27, 2009 10:20am Jul 27, 2009 10:20am
For anyone wanting an indicator that will give you a signal as to when the bricks reverse, there's an indicator on another thread called TK8Power, and it's called ATM_Pure_CEC.
It was developed for that thread, and I'm not sure if I would be allowed to post it here.
It has a setting that allows you to get an audible alert, as well as a text alert showing where the entry should be made.
A great indicator, in my opinion for this system, for those who might need the audio or visual if they can't monitor the screen every second.
  • #2,911
  • Jul 27, 2009 10:20am Jul 27, 2009 10:20am
I officially feel like a newbie again. I broke down and got renko for metatrader since that is the evolution of this thread. Can you please post plainly exactly how the renko charts should be set up and how you guys are using it? I have been following the renko evolution of this thread but it seems scattered. Thanks.
  • #2,912
  • Jul 27, 2009 10:22am Jul 27, 2009 10:22am
+30 pips (6+6+6+6+6), done for the day.

NY/London overlap.

Only used two pairs EU+GU because I needed the space on 2 screens to experiment.

I compared the classic C4 with a 10 pip brick Renko (M2) as well as Renkos with 5 (M3) and 1 pip (M4) bricks. Each set of 4 charts per pair was on a seperate screen. Each Renko chart had a 12 LWMA, as per TudorGirl's post.

The 1 and 5 brick Renkos gave very helpful information of PA to time the entry, but I stuck with Edge's 10 brick Renko for the trade. Pity it takes up so much of the screen.

Only took trades when all 4 charts were aligned. i.e. C4 PA arrow with 5+15 Trix in same direction and Renko charts with a closed brick clear of MA.
Attached Image (click to enlarge)
Click to Enlarge Name: nitro 20090727 14h55 gmt.jpg Size: 176 KB
  • #2,913
  • Jul 27, 2009 10:25am Jul 27, 2009 10:25am
Quoting Edgetrader
Adjust your trix indi and candles to a setting of 2,1,1,1 and the signals are a bit quicker and clean.

Make sure LWMA is set at 8,3,6.

See if that looks better to you.

Regards.

mama mia! these new settings are really really interesting.....

Things just keep getting simpler all the time.
I believe that adds credit to the method, as it becomes obvious that less is more, which runs exactly opposite of many other threads on this site.

Indicator envy this is NOT!
  • #2,914
  • Jul 27, 2009 10:36am Jul 27, 2009 10:36am
Quoting paradoxical
For anyone wanting an indicator that will give you a signal as to when the bricks reverse, there's an indicator on another thread called TK8Power, and it's called ATM_Pure_CEC.
It was developed for that thread, and I'm not sure if I would be allowed to post it here.
It has a setting that allows you to get an audible alert, as well as a text alert showing where the entry should be made.
A great indicator, in my opinion for this system, for those who might need the audio or visual if they can't monitor the screen every second.
I did a quick search on that thread, searching through the "paperclip"
I could not see the indicator.
I would imagine that if it is posted on FF you can share it here.
In fact a lot of the indicators that make the rounds are ones that have been shared on other threads.
  • #2,915
  • Jul 27, 2009 10:38am Jul 27, 2009 10:38am
Quoting paradoxical
For anyone wanting an indicator that will give you a signal as to when the bricks reverse, there's an indicator on another thread called TK8Power, and it's called ATM_Pure_CEC.
It was developed for that thread, and I'm not sure if I would be allowed to post it here.
It has a setting that allows you to get an audible alert, as well as a text alert showing where the entry should be made.
A great indicator, in my opinion for this system, for those who might need the audio or visual if they can't monitor the screen every second.
thanks
/ ... clarifying decisions ... /
  • #2,916
  • Jul 27, 2009 10:39am Jul 27, 2009 10:39am
My first lost with RENKO. May have jumped in a little too soon and didn't wait for the brick to clear.
  • #2,917
  • Jul 27, 2009 10:40am Jul 27, 2009 10:40am
Sorry, here is the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: renko 12.gif Size: 13 KB
  • #2,918
  • Jul 27, 2009 10:41am Jul 27, 2009 10:41am
Quoting pgpb
what is your brick size you are using?
just these 4 pips
/ ... clarifying decisions ... /
  • #2,919
  • Jul 27, 2009 10:50am Jul 27, 2009 10:50am
Quoting walb99
How do you apply the LWMA to the Renko-line?
From the navigator drag "moving average" onto the chart, set periods as you like, select LWMA, and in "apply to" select "first indicator's data".

If there are not enough data points you will see vertical lines but, as data accumulates, the MA will begin to function in a useful way.
Old Benjamin was right
  • #2,920
  • Jul 27, 2009 10:54am Jul 27, 2009 10:54am
Quoting gerry berard
Sorry, here is the chart.
That looked like a winner to me, a full brick completed after entry. If your going for more pips why not use the 10 tic chart...
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