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MTF Trix system

  • #341
  • Aug 6, 2009 12:12pm Aug 6, 2009 12:12pm
We used Hull at the very beginning of THV but replaced it with the Coral for some reasons, I will post that indi later because the THV coral is hardcoded and don't have parameters to change, I'll post the original one modded by Tradersthome with userdefined variables.

Maybe you want to try it, it's very smooth

Quoting golden1
sure just hull
  • #342
  • Aug 6, 2009 12:14pm Aug 6, 2009 12:14pm
sure.. have used the thv coral, of course but would
love to have a version I can enter settings, thanks!

Brian

Quoting cobraforex
We used Hull at the very beginning of THV but replaced it with the Coral for some reasons, I will post that indi later because the THV coral is hardcoded and don't have parameters to change, I'll post the original one modded by Tradersthome with userdefined variables.

Maybe you want to try it, it's very smooth
  • #343
  • Aug 6, 2009 12:14pm Aug 6, 2009 12:14pm
Quoting golden1
lol...its accurate but sensitive. one (either 1 or 5)
can change against you and often just be a small consolidation

brian
I will give a try tomorrow as today I am too tired for taking trades. Had two in the morning, my personal plan was filled and why not to have a rest until tomorrow
  • #344
  • Aug 6, 2009 12:25pm Aug 6, 2009 12:25pm
Not sure why, but I understood the premise of renkos rather quickly. They are simply based off the movement in ticks of the particular pair. Depending on your trading preference, you can set them to change every two pips, every 3 pips, every 5, 10 or more.
10 is an easy number. Whether or not that's the best number, I'm not sure. From a visual standpoint, the number 10 is easy for humans to comprehend....based on the decimal system, anyone can count 10, 20, 30, 40 and see exactly how much a pair has gone up or down.
For scalping, is 10 the best? I suppose it depends on your own idea of scalping. To some, it's one pip or two. To others 5 or 10, etc.
Maybe 5 pips would be better for shorter term in and out trading, but maybe not 5 pips on every pair. Perhaps 4 on E/U, and 6 on GU, and 9 on GY, if you get my point.
But, if you set the renkos differently for each pair, that may lead to confusion if you're scalping more than one pair with different bloick sizes on each.
As far as the advantage of renko, they give a real quick view of how much a pair has gone up or down. They make it easy to see the trend and points of resistance. They make it easier to stay in a trade. They smooth out the action. If you're a momentum scalper, they make it easy to jump on at the next block.
One of the disadvantages are that you don't know how much time has elapsed without checking further. For someone used to the HA candles and interpreting them, or the regular candles and interpreting body and wick sizes, the renkos would not be of help.
  • #345
  • Aug 6, 2009 12:27pm Aug 6, 2009 12:27pm
Thanks Brian, what Hull settings are you using.

Good to see Cobra here as well, I use his trix and coral on my charts.

Still trying to download the snake, seems to be hanging!!!!!!!!!

Regards
Pardy
  • #346
  • Aug 6, 2009 12:28pm Aug 6, 2009 12:28pm
Ok, here you go, I don't post the mq4 because I don't carry the copyrights but if someone needs it can contact Traderathome.

It's coming with other defaults as the coral, that way I don't mess my THV thread.
Attached File(s)
File Type: ex4 MAtri-colored.ex4   5 KB | 852 downloads
  • #347
  • Aug 6, 2009 12:33pm Aug 6, 2009 12:33pm
Appreciate it, I will check this out

To the other question from pardy 8 3 3 and 48 3 3

Brian

Quoting cobraforex
Ok, here you go, I don't post the mq4 because I don't carry the copyrights but if someone needs it can contact Traderathome.

It's coming with other defaults as the coral, that way I don't mess my THV thread.
  • #348
  • Aug 6, 2009 12:38pm Aug 6, 2009 12:38pm
Quoting cobraforex
Ok, here you go, I don't post the mq4 because I don't carry the copyrights but if someone needs it can contact Traderathome.

It's coming with other defaults as the coral, that way I don't mess my THV thread.
Could you explain this indy a bit? What is b in settings? And are the default settings (89, 0.3) good for sth or they just are there to be changed?
  • #349
  • Aug 6, 2009 12:38pm Aug 6, 2009 12:38pm
Nice post paradoxial, we want to find the pros and contras of Renko with the time.

For me it's relative new, I have the script since long time in my toolbox but didn't pay mayor interest on it as I'm a candlestick trader (analysis chart) using THV with HA candles as an entry and exit confirmation.

During the weekend I'll post a resume on what we have till now to get it discussed here if Indrek gives us the space.

Quoting paradoxical
Not sure why, but I understood the premise of renkos rather quickly.......
  • #350
  • Aug 6, 2009 12:57pm Aug 6, 2009 12:57pm
It's the default from Traderathome, play with it and try 8, 12, 50 for example (all with 0.3).

I didn't have it yet on a Renko chart but will do so later.

Now it's time to have a nap.

See you.


Quoting Indrek
Could you explain this indy a bit? What is b in settings? And are the default settings (89, 0.3) good for sth or they just are there to be changed?
  • #351
  • Aug 6, 2009 12:59pm Aug 6, 2009 12:59pm
Ohh, ok I see you guys left Edge supervision.. That's good
we can talk here then openly..
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #352
  • Aug 6, 2009 1:06pm Aug 6, 2009 1:06pm
Quoting golden1
lol...its accurate but sensitive. one (either 1 or 5)
can change against you and often just be a small consolidation

brian
I just noticed a situation where it would be wrong to exit when 2 first Snake bricks changed colour. It was on EU that for a moment went back up and then turned down again.
But I could not resist temptation and entered one trade using Snake's confirmation - short EY. I will post the result
  • #353
  • Aug 6, 2009 1:06pm Aug 6, 2009 1:06pm
Cobra, I use your template and it's looking good (thanks!), but let's face it.
Nobody and I mean NOBODY can predict any 5 min movements
of Forex pairs, the only way successfully trade it, it's a bigger picture
view.. It's just the same as trading some stock which generally moving
up taking penny here and there and leaving all the meat on the table..
Short term scalping it's a fairytale, Identify trade and stick with it
that's the system which works.. Like EURUSD is dropping right now
and I saw it coming right from the morning, there is no reason to trade it.
NONE.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #354
  • Aug 6, 2009 1:08pm Aug 6, 2009 1:08pm
Quoting Indrek
I was even banned from Edge's thread. Too independent thinker
He-he I just post there and I'm about to be banned too.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #355
  • Aug 6, 2009 1:32pm Aug 6, 2009 1:32pm
Hi Indrek. If you remember me from the C4 thread you will know that I use an indicator called 3 ducks that does not take up any room on my charts but tells me the trend on the M5 H1 H4 . Before taking a trade I simply look at the top left corner of my chart and I instantly know the trend direction.
  • #356
  • Aug 6, 2009 1:33pm Aug 6, 2009 1:33pm
I also trade the 1hr charts.
  • #357
  • Aug 6, 2009 1:37pm Aug 6, 2009 1:37pm
Quoting gerry berard
Hi Indrek. If you remember me from the C4 thread you will know that I use an indicator called 3 ducks that does not take up any room on my charts but tells me the trend on the M5 H1 H4 . Before taking a trade I simply look at the top left corner of my chart and I instantly know the trend direction.
I remember you and I even had your birds on my chart but later on I started to use higher LWMA and Trix for trend. Snake looks very good too, also does not take much room and contains all TFs.
I attach the picture of my chart with the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: ey 0608.gif Size: 67 KB
  • #358
  • Aug 6, 2009 1:55pm Aug 6, 2009 1:55pm
I sincerely thank everybody who has supported my intentions with this alternative thread.
One respected member who also came from C4 wrote in his PM: "Your thread is like "Radio Free Europe"."
This IS exactly what I want this thread to be!
  • #359
  • Aug 6, 2009 1:56pm Aug 6, 2009 1:56pm
Where can I get the SNAKE to try out?????????
  • #360
  • Aug 6, 2009 2:02pm Aug 6, 2009 2:02pm
Quoting gerry berard
Where can I get the SNAKE to try out?????????
This link was posted before but here it is again: http://kreslik.com/forums/viewtopic.php?t=1663
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