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C4 Scalping

  • #3,921
  • Jul 30, 2009 6:21pm Jul 30, 2009 6:21pm
Quoting TudorGirl
Yes it can! That is precisely what I do because you know well in advance the only two possible prices the bar can close at. So you can prepare the OCO orders in slow time and just go with the flow!

Anne
hi Anne

Ok, I am up to speed with thread now and realise you have developed your own indi and rules for entry using a renko chart.

Can you explain your actual entry criteria as
you mention your system is a little more sophisticated than just a zero cross of the Sinc Cycle and that you a are also using POSITION, VELOCITY and ACCELERATION of the indy - can you enlarge on this for me please?

Also you mention an OCO set-up. What are you basing these entries? If you are hedging in either direction then what are your entry rules and do you use indis for this etc.


Many thx

Law
  • #3,922
  • Jul 30, 2009 6:24pm Jul 30, 2009 6:24pm
Quoting pilotui
Ok, I think I have the C4 figured out...can someone kindly look over this screenshot...it seems as though it's working well for me (3 winning trades)

But I'd appreciate some confirmation!

Thanks!!!

Darren
Wait, on the front page it says the mov avg color chaniging settings are 8,3,6?

They default to 12, 3, 6 though??
  • #3,923
  • Jul 30, 2009 6:31pm Jul 30, 2009 6:31pm
Quoting JazzmanQ2
Still trying to work with TG Sync. settings 5, 35, True, 7, 3
Looks like a good way to filter out some bad trades!
Q
Wow Jazzman now tudorgirl's indi it looks great.Thanks for the efforts people...
  • #3,924
  • Jul 30, 2009 6:33pm Jul 30, 2009 6:33pm
Quoting pilotui
Wait, on the front page it says the mov avg color chaniging settings are 8,3,6?

They default to 12, 3, 6 though??
Set them to 8,3,6.

I use two trix, 3 period and 9 period for longer term strength.
  • #3,925
  • Jul 30, 2009 6:36pm Jul 30, 2009 6:36pm
Quoting pilotui
Wait, on the front page it says the mov avg color chaniging settings are 8,3,6?

They default to 12, 3, 6 though??
Nothing wrong when you apply both.
Attached Image (click to enlarge)
Click to Enlarge Name: both mas.gif Size: 14 KB
/ ... clarifying decisions ... /
  • #3,926
  • Jul 30, 2009 6:58pm Jul 30, 2009 6:58pm
To all who PMd me... I will answer all of you... just a bit patience
Not 100 like TG, but enough to take some time...
"The only successful substitute for brains is silence."
  • #3,927
  • Jul 30, 2009 7:05pm Jul 30, 2009 7:05pm
Just one thing that some of you haven't maybe understood yet:

A Renko brick needs 10 pips to form a new brick in the same direction and 20 pips to form a new brick in the opposite direction.
If you have a brick down closing at lets say 1.4120 and PA goes down 10 pips more you have a new down brick opening at 1.4110. Or PA goes up to 1.4140 and forms a new brick up.
So you have a 28 pip range inside which PA can oscillate - sometimes for hours - before forming a new brick.
That should clarify a bit the SL questions as well as the impossibility of visually backtesting Renko trades. In the last days I had some +5 winning trades although the brick closed on the wrong side... so no way to backtest these. 28 pip ranges are huge for a +5 scalping system.

Just food for thoughts...

And about 5 of my PM's already answered
"The only successful substitute for brains is silence."
  • #3,928
  • Jul 30, 2009 7:23pm Jul 30, 2009 7:23pm
Quoting golden1
I have 2 quick questions. #1 what size renko bars are you using? #2 how are you using the ha candle to improve your entries?

Brian

1. Size = 5

2. Same entry point outlined by Edge
  • #3,929
  • Jul 30, 2009 7:30pm Jul 30, 2009 7:30pm
Quoting DXTrade
Just one thing that some of you haven't maybe understood yet:

A Renko brick needs 10 pips to form a new brick in the same direction and 20 pips to form a new brick in the opposite direction.
If you have a brick down closing at lets say 1.4120 and PA goes down 10 pips more you have a new down brick opening at 1.4110. Or PA goes up to 1.4140 and forms a new brick up.
So you have a 28 pip range inside which PA can oscillate - sometimes for hours - before forming a new brick.
That should clarify a bit the SL questions as well as the impossibility...
And hop... here a trade I just took with exactly this case. I made +5 although the brick closed on the other side.
How do you want to backtest this?????
Attached Image (click to enlarge)
Click to Enlarge Name: dxtrade.gif Size: 17 KB
"The only successful substitute for brains is silence."
  • #3,930
  • Jul 30, 2009 7:59pm Jul 30, 2009 7:59pm
Yes,now I remember from where I took these indicators, it was from the f4mnect journal.



Quoting f4mnect
lol my version of that indicator keeps following me where ever I go
  • #3,931
  • Jul 30, 2009 8:07pm Jul 30, 2009 8:07pm
Awesome!

1. Same here I use the 5 tic

2. How does the HA help you decide
to enter a good trade or avoid a bad
one? Over the renko bricks..OR are you
just using smooth your play when in and
hold in for the profit goal??



Quoting Syahmi
1. Size = 5

2. Same entry point outlined by Edge
  • #3,932
  • Jul 30, 2009 8:07pm Jul 30, 2009 8:07pm
Hi Caz,

PM me if you would like more info... I don't want to detract too much from the thread here.

Quoting caz
Hello,
Please, can you explain more about this setup?. Syahmi posted this kind off idea already in post #3714. I have the Renko, but how can I get the HA candles involved?
Regards,
Caz
  • #3,933
  • Jul 30, 2009 8:21pm Jul 30, 2009 8:21pm
I have written this as a Word doc so hope I can post it. Here goes!!

I have an idea that might generate some discussion.

Renko bricks have a finite size (we are using 10 pips at present so my study is based on that setting).

We know that Renko will not set a new brick until 10 pips above the current brick or 10 pips below the current brick.

We also know that if Swingmans signals have a high degree of probability in picking the direction of the next brick, we can make some assumptions with a degree of confidence. (Could use TG Spectrum or any other primer of choice).

If the current brick goes from 0 to +10 in size, we can assume that if the signal is for a short, the PA while forming the next brick can range from +19 to -10 before the next brick is set. I have seen a brick go all the way to the +19 before retracing to form the next brick below the current one.

With our facts before us, we can be ready with the plunger as soon as the next brick forms. We place a sell order at 0 with a TP of -10 (for a 10 pip scalp) with a stop loss set at +21. To hit the SL it means that the next brick is long and our assumption of direction was wrong. Unfortunately we can not know that this will happen until the next brick is set so taking an early loss on the trade is not an option.

To add to our profit potential or to get a quicker 10 pip scalp, if the bar forming does go to the higher limits of the current brick, enter the trade on a short order as it has been assumed that the next candle will be short.

Wow – how convoluted is that. Sorry for being long winded but I couldn’t explain my idea in fewer words. Please tell me if my logic is flawed or why this would not work. I plan to try it out tomorrow as I’m busy today.
  • #3,934
  • Jul 30, 2009 8:23pm Jul 30, 2009 8:23pm
Quoting DETrader
Thanks for the tip :-), I don't kknow if it was just me or not but the last few days I have had disconnect problems with the FXCM MT4 servers, which is why I keep demo accounts at several brokers, just in case.
Also reffered on my account. They have corruptly performed all my orders. Make that the indis or FXCM?
christian
  • #3,935
  • Jul 30, 2009 8:57pm Jul 30, 2009 8:57pm
The stoch does repaint, much to my surprise, and I've found this is due to the length of time it may take for a new brick to form. The stoch view you see on the chart is after that renko bar has closed. In real time, looks different. Somewhat unreliable unless you want to figure entries one bar after what you see on the chart.
  • #3,936
  • Jul 30, 2009 9:05pm Jul 30, 2009 9:05pm
Quoting paradoxical
The stoch does repaint, much to my surprise, and I've found this is due to the length of time it may take for a new brick to form. The stoch view you see on the chart is after that renko bar has closed. In real time, looks different. Somewhat unreliable unless you want to figure entries one bar after what you see on the chart.
I think that is a problem with using standard indicators with Renko. Since its not based on TF most indicators just kind of wag their tails following PA until the next brick is formed. That's why 25% is mechanical and the rest is all you.
Q
The Only Constant Is Change!
  • #3,937
  • Edited 9:43pm Jul 30, 2009 9:15pm | Edited 9:43pm
I have to contest, lol in the way I use stoch. If we were trading on the cross of the lines itself..like so many threads strewn across forums... that would definitely be a big deal. For me, I just want to see above/below 50 level
and red line is and has been over green for short.. and vice versa

Brian

Quoting paradoxical
The stoch does repaint, much to my surprise, and I've found this is due to the length of time it may take for a new brick to form. The stoch view you see on the chart is after that renko bar has closed. In real time, looks different. Somewhat unreliable unless you want to figure entries one bar after what you see on the chart.
  • #3,938
  • Jul 30, 2009 9:42pm Jul 30, 2009 9:42pm
Quoting Gleneagles
This is the losing trade on GBPJPY.

Countertrend but retraced just far enough to trigger a sell signal.

It was good for +5 and some change but did not reach +10 TP.


HI Gleneagles

nice chart ,,,, can you put on this indicators ?????? thanks!!!!!!!!
  • #3,939
  • Jul 30, 2009 9:51pm Jul 30, 2009 9:51pm
Quoting jacson101
Hey 4x,
To avoid stoplossfest 2009 try 2-2.5 deviations from your variable ATR.
That should give a better feel.
I think I may have misled you on the ATR(6) - I meant the calculated value of ATR for the last 6 bars. Then use ATR for the SL and 1/2 ATR for the TP. I've been watching it and it is usually somewhere around 15 to 20 pips depending on volatility.

In my example
My suggestion is use ATR calculated over the last 6 bars and use it for SL and 1/2 of ATR(6) for TP.

Example:
EURJPY - Short at 2009.07.30 20:55 GMT
Price = 134.30
ATR(6) = 11
Spread = 3 pips
SL = ATR + Spread + Price = 11+ 3 + 134.30 = 134.44
TP = Price - (ATR * .5) = 134.30 - 6 = 134.24

Definitely want to limit the losses but don't want to set the SL too close because you then get stopped out in a retracement before it has a chance to reach the TP.
4XTrader2
  • #3,940
  • Edited 10:20pm Jul 30, 2009 10:02pm | Edited 10:20pm
Quoting JillyB
Hi Anne

Really good results, well done! - I'm impressed. I see from the trades times that they are virtually 24/7 so I'm assuming that you have the EA working on these and aren't taking them all manually. How is development coming along? I know you said before that you didn't think an EA would work on this system as there was a bit of discretionary input into the trades. I take it these are just worked on the renko bars and your TG-SSC indicator. I have crossing lines for this set at +0.0 and -0.075, are these the settings you're using as well?...
Keep up the good work and I'm glad to see that you haven't risen to any of the 'comments' that have been made by a certain person. There's no need for people to take that attitude, we're all here with a common goal and trying to help each other. [/quote]

You have started again.... on the forum! after the requests....to take this off the forum.... You could have.... FOR YOUR EYES ONLY.

Read the other side too..... I in reply on the forum.... too!

Names removed for confidentiality .A small cross section of them too..... My inbox is getting full of these....


"Hi,

I do not think you are going to win with the crowds here. I can see where you are coming from - none of the indis produced by TG have been much, just different names for stuff already seen. Why aren't the crowds using HG (macd-cci), Vorticity(fisher transform) if they are so impressed. The latest is hardly different from what people already have (smTrix). A potato is a potato by any name!!

I think nobody in this world likes to be told the truth, but love living in fantasy world!

Regards

Hi there,

I've followed the thread since Trend magic and have remained mainly passive. Does TG irritates me and some folks here? I'm sure she does! But why spoil the thread?

If she really needs to proof something here, I couldn't care less! If she feels better telling how smart she is, let it be! It's kind of amusing for me and o lot of other folks. I don't really get why you get so angry about it Why so sad???

Best Regards

Hi Irathi,
I don't portend to know Astrophysics in the least.
But, you are indeed correct. These bloody Mt4 indicators are to be ignored. There is no rhyme or reason behind the 'madness' of directional bet with them on.
Maybe I just don't understand their essence.
But, after growing up in FX , having hired and fired more traders, worked with more math PHD's,
flipped more lots than one could possible imagine.
I've come to realization that there really something 'fishy' going on here.

You are correct sir,


With time, most will try to find ways of 'extending' gains far further then a 5-10 pip scalp, I can see the 'coders' selling their wares in some fashion. I guess this is where the thread will go...
But the simple facts are, this is nothing more than a currency trading thread in a fx carnival. Which now officailly has 'Nasa-ESA scientists', 'part time students', 'retiree's' and the unemployed involved.

Thanks for your observative posting and speaking your mind!
You will be well served for speaking the truth.

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