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C4 Scalping

  • #3,241
  • Jul 28, 2009 3:34pm Jul 28, 2009 3:34pm
Quoting yab
hi is there a pdf where the system is explained with all detail's?
Yes .. it is called the last 200 pages of this thread .. start with post #1 and read it carefully. Then proceed through the thread. From about page 155 on, we discuss renko.
******************* I'd rather make money than be right.
  • #3,242
  • Jul 28, 2009 3:34pm Jul 28, 2009 3:34pm
Quoting Fallonious
Have I traded this? No.
Please find another thread to post.
  • #3,243
  • Jul 28, 2009 3:34pm Jul 28, 2009 3:34pm
Agree, Can someone pls explain how to trade nitro. Looks like
people are posting different ways/indicators and it is confusing.

Edge, can you pls tell us the current method you trade nitro.

Thanks.


Quoting yab
hi is there a pdf where the system is explained with all detail's?
  • #3,244
  • Jul 28, 2009 3:36pm Jul 28, 2009 3:36pm
Quoting yab
hi is there a pdf where the system is explained with all detail's?
Yab,

no there isn't. Please read post#1 & all other Edge's post/comment if you don't have enough time to read all posts here... Anyway, do your homework & write 3 times the following 3 words when you sit in front of your PC: "learn or burn".

--> this is the MAIN MESSAGE here.

Regards
  • #3,245
  • Jul 28, 2009 3:36pm Jul 28, 2009 3:36pm
Quoting Edgetrader
Then why not get rid of the triangles in order to simplify?
I have blacked out the arrows .. the triangles are the ones on the bricks themselves and that is what triggers the signal, so we keep the triangles. I mistakenly referred to them as 'arrows' but triangles are ON the bricks, arrows are above or below bricks (or alongside, I never did figure it out).
I just blacked them out in the color choices.
******************* I'd rather make money than be right.
  • #3,246
  • Jul 28, 2009 3:38pm Jul 28, 2009 3:38pm
Quoting Fallonious
...a bunch of uneducated, rambling rubbish...
Another one for the Ignore list .. and after one whole post! It may be a record.
******************* I'd rather make money than be right.
  • #3,247
  • Jul 28, 2009 3:39pm Jul 28, 2009 3:39pm
A good day for me with the system - in between doing my day job (really busy all day but managed to sneak a few minutes here and there). I am finding the Renko blocks and LWMA really easy to trade with. I have done 2 trades one on aud/usd and one on eur/usd and both for +10 pips.

I have Renko blocks available as an option for price display on ProRealTime and have been using these with an 8LWMA with the uptrend coloured blue and the downtrend coloured red. I then take the trades via MT4.

It sounds a bit long winded and it is, so today I've bought the Mql Renko script and added it into MT4. I've got the charts up ok, but I've noticed that they do keep freezing. They're ok for a while and then just freeze up and the problem with Renko is that it's difficult to notice until it's too late and you've missed a possible trade. I know someone has mentioned it before - I found something about it around page 206 - but couldn't find the answer as to what to do. Do I just have to reload it and the chart everytime? Surely not? If so, is it worth it? Can anyone help?
  • #3,248
  • Jul 28, 2009 3:40pm Jul 28, 2009 3:40pm
I know its not MT4 but if you want to play around with Renko for free try installing VT Trader.
  • #3,249
  • Jul 28, 2009 3:50pm Jul 28, 2009 3:50pm
Quoting Edgetrader
We have a 8,4,6 LWMA that already signaled short and I completed a whopping +10 on that. Bar finished and on the new bar the Hull turned red so am trading on that change also. Plus, I have another triangle popping up and an arrow to boot. We definately have Trix in short mode so am working that angle also.

Regards.
I think that I saw the hull repaint here. Look at the difference in Edges chart with the same settings except my MA 8, 3, 6 and Edges 8, 4, 6...hmmmm. Is this another mt4 thing? Edges chart on left. The Hull on my chart and the MA looked the same ...now look. Trix reacted differently in the histo too.
Q
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nitro.jpg Size: 110 KB
Click to Enlarge Name: nitro-ej.jpg Size: 95 KB
The Only Constant Is Change!
  • #3,250
  • Jul 28, 2009 3:52pm Jul 28, 2009 3:52pm
If you are referring to the hull posted today, yes I have seen it repaint too.

Stick it on an active M1 chart and won't take long to notice it.
  • #3,251
  • Jul 28, 2009 3:54pm Jul 28, 2009 3:54pm
Ok, I have been a follower of the thread since the first week and just checked again...so either I missed it or it's not there. But may I ask what the smC4scalpercandles really do on the charts??? And the little dots that they leave on the candles(top and bottom)...does that show you that price closed at/near those points when the candle closed?
  • #3,252
  • Jul 28, 2009 3:59pm Jul 28, 2009 3:59pm
Quoting Edgetrader
We need to work with SM to get ARROWS only, no triangles.
Swingman posted an update on pg 201 post #3007 which seems to have arrows and no triangles. The update has the same name, smRenko Signals_v2.1 (not a different revision number) so it can be confusing. Try the attached version.
Attached File(s)
File Type: ex4 smRenko Signals_v2.1.ex4   17 KB | 763 downloads
  • #3,253
  • Jul 28, 2009 4:02pm Jul 28, 2009 4:02pm
It simply colors the candles in relation to the trix. It allows you to not require the trix indicator on your chart, thus keeping the chart clean. The dots just show the close of the candle.
Put a trix with the same settings as the smcandles on your chart, and you will be able to answer your own question as well


Quoting Tw0eleven
Ok, I have been a follower of the thread since the first week and just checked again...so either I missed it or it's not there. But may I ask what the smC4scalpercandles really do on the charts??? And the little dots that they leave on the candles(top and bottom)...does that show you that price closed at/near those points when the candle closed?
  • #3,254
  • Jul 28, 2009 4:12pm Jul 28, 2009 4:12pm
Quoting tazmaan
It simply colors the candles in relation to the trix. It allows you to not require the trix indicator on your chart, thus keeping the chart clean. The dots just show the close of the candle.
Put a trix with the same settings as the smcandles on your chart, and you will be able to answer your own question as well
Thank you Tazmaan
  • #3,255
  • Jul 28, 2009 4:20pm Jul 28, 2009 4:20pm
Wow, what a thread. Stumbled onto this thread yesterday, and have spent most of today reading through the many pages. There is some fantastic stuff in here. Edge, thanks for setting out, step by step, a simple but incredibly effective trading strategy. I think that everyone, irrespective of whether they actually go ahead and trade this system live, can take something away from this thread to help them become better traders. Also big big thanks to Swingman and Tudorgirl. SM, I'm starting to test out your trix indicators, and they look the real deal, possibly some of the best indicators I have ever come across. And to Tudorgirl, I don't understand 90% of what you say, but I'm just honoured to be in the presence of a real life rocket scientist. And it's a testament to this thread that so many great minds are contributing to its success.

Hey, Edge, are you really from the Cayman Islands? I lived there for 4 years, left a while back, after Ivan destroyed my apartment. Anyways, if not, there's a great bar there called the Edge which was run by a mad Frenchman. Maybe all the Edgetraders should meet there when we have made our millions

Happy trading to all,

LD
  • #3,256
  • Jul 28, 2009 4:22pm Jul 28, 2009 4:22pm
Hi Edge,

Can you help me be sure I'm understanding the logic correctly? On the attached AUDJPY chart there are two examples (using MT4 with Renko 10 pip bricks, MA set to 8,3,6, and Swingman's Trix set to 2,E,E,E). The light gray box just marks the recommended trading hours.

Attached Image (click to enlarge)
Click to Enlarge Name: audjpy_example.jpg Size: 76 KB


First - price moves over the MA and closes above it (candle 1). This is the primer and in addition Trix has moved above zero. No detonation because MA has not changed color. When Candle 2 closes the MA still has not changed color so we pass on the trade. Head fake avoided.

Second - with price again starting below the MA and Trix again below zero candle 3 closes above the MA and Trix moves above zero. Again this is the primer. Now candle 4 closes and MA has changed to green. This signals detonation. Question - is this just a "normal" losing trade or did I miss something that should have kept us out?

Thanks for the assist!
  • #3,257
  • Jul 28, 2009 4:34pm Jul 28, 2009 4:34pm
Quoting cactus
Hi Edge,

Question - is this just a "normal" losing trade or did I miss something that should have kept us out?

Thanks for the assist!

No it is not a losing trade.
Set the
MA to 8, 4, 6 instead of 8, 3, 6.

and the other one is also a 10 pip win.
  • #3,258
  • Jul 28, 2009 4:54pm Jul 28, 2009 4:54pm
cactus,

am having a few issues also but just my interpretation...

The bar between 2 and 3.

Closed below the ma, primer. Ma changed colour, trigger. Went for at least 10 pips.
  • #3,259
  • Jul 28, 2009 4:57pm Jul 28, 2009 4:57pm
Quoting Edgetrader
I think it best to show another shot of Nitro so you can ascertain the differences in the MT4 operation. We need to work with SM to get ARROWS only, no triangles. The trix thing is easy.
Are you really trying to get MT4 version to perform exactly like the Tradestation version? If so, it should not be this difficult.

Let's look at the Tradestation version:

1) Uses Renko with a setting of 10 ticks (This is very easy to do in MT4 and most everyone has accomplished this)

2) Uses TRIX, assume values of <2,1,1,1> (Again, very easy in MT4)

There is only 1 other thing missing in the MT4 version - the functionality of the MOMSE/MOMLE. These might stand for something like Momentum Short Entry and Momentum Long Entry. I guess it really does not matter what it stands for.

So, some indicator or EA or whatever needs to be created in MT4 to perform the functions of the MOMSE/MOMLE.

Judging by what has been discussed so far, the missing piece may or may not have something to do with the following:

LWMA(8,3,6) or LWMA(8,4,6)
Market trends

Usually in software development, you start with the requirements of the system, then move on to design, development, testing, and implementation.

Edge, I assume you have provided SM with some requirements for missing part of the MT4 Nitro system. I think you mentioned previously that you don't want to publicly provide the details of the Nitro system because they are private. That is perfectly up to you - as you said, we each have to earn our successes.

But it seems like many are spinning their wheels here trying to get the MT4 version to perform like the Tradestation version. If I am off base here, let me know and I'll shut up.
  • #3,260
  • Jul 28, 2009 4:58pm Jul 28, 2009 4:58pm
Quoting cactus
Hi Edge,

Can you help me be sure I'm understanding the logic correctly? On the attached AUDJPY chart there are two examples (using MT4 with Renko 10 pip bricks, MA set to 8,3,6, and Swingman's Trix set to 2,E,E,E). The light gray box just marks the recommended trading hours.

Attachment

First - price moves over the MA and closes above it (candle 1). This is the primer and in addition Trix has moved above zero. No detonation because MA has not changed color. When Candle 2 closes the MA still has not changed color so we pass on the...
These could have been winners depending on where you enter and what your pip target was. I would have avoided it though because it looks counter trend.
Since you already have Trix set at 2 in the SM Candles why not change the Trix histogram to 6 which is close to 15 minute time frame and just scalp in the direction of strength? That will filter out many bad trades. It really helps me.
Q
The Only Constant Is Change!
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