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C4 Scalping

  • #6,221
  • Aug 11, 2009 5:28pm Aug 11, 2009 5:28pm
thanks
  • #6,222
  • Aug 11, 2009 5:33pm Aug 11, 2009 5:33pm
You like little bombs?
Here they are.
That's why man invented the wheel... always looking for improvements

Indicator now taking less space, I removed the comment on the top left and made it more visual.

T1 = Trix current timeframe
T2 = Trix MTF
M = Momentum

Default settings are the same as in Post#1

Hope you like it

And as always: you need the DXTrix in your indicator and/or experts folder for the meter to work.
Attached File(s)
File Type: ex4 DXTrade C4 Nitro Meter.ex4   12 KB | 1,035 downloads
File Type: ex4 DXTrix.ex4   5 KB | 827 downloads
"The only successful substitute for brains is silence."
  • #6,223
  • Aug 11, 2009 5:43pm Aug 11, 2009 5:43pm
Quoting Cbh123
Once again, PaulW, please don't post charts which are irrelevant to the thread. This thread is about scalping, NOT pending orders! Please start your own journal thread if you want to tell people about your pending order trades. Only C4 and Nitro trades should be posted here.
understood no more pending orders. and pgpb understood.
  • #6,224
  • Edited 6:07pm Aug 11, 2009 5:49pm | Edited 6:07pm
Quoting DXTrade
You like little bombs?
Here they are.
That's why man invented the wheel... always looking for improvements

Indicator now taking less space, I removed the comment on the top left and made it more visual.

T1 = Trix current timeframe
T2 = Trix MTF
M = Momentum

Default settings are the same as in Post#1

Hope you like it

And as always: you need the DXTrix in your indicator and/or experts folder for the meter to work.
Thanks DX very streamlined and stylish but T1 and T2 not showing anything.
Attached Image (click to enlarge)
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The Only Constant Is Change!
  • #6,225
  • Aug 11, 2009 5:51pm Aug 11, 2009 5:51pm
Quoting DXTrade
You like little bombs?
Here they are.
That's why man invented the wheel... always looking for improvements

Indicator now taking less space, I removed the comment on the top left and made it more visual.

T1 = Trix current timeframe
T2 = Trix MTF
M = Momentum

Default settings are the same as in Post#1

Hope you like it

And as always: you need the DXTrix in your indicator and/or experts folder for the meter to work.
The "bomb meter" shows the primer, charge and detonator. Look like yours is missing the primer. Keep up the good work, Mate.
  • #6,226
  • Aug 11, 2009 6:05pm Aug 11, 2009 6:05pm
Quoting gbppip
The "bomb meter" shows the primer, charge and detonator. Look like yours is missing the primer. Keep up the good work, Mate.
It's not a copy of the little bomb meter from some pages ago... just a different visual of my existing one.
I still have my DXTrade C4 Nitro on my chart with arrows only showing up when Trix crosses and MA confirms.
But it's planned to put all in one... the complete C4/Nitro Meter!

Maybe later today...
"The only successful substitute for brains is silence."
  • #6,227
  • Aug 11, 2009 6:19pm Aug 11, 2009 6:19pm
Quoting pilotui
thats because I didnt send you anything...pplease stop pm.ing me
lol
  • #6,228
  • Aug 11, 2009 6:22pm Aug 11, 2009 6:22pm
Is there someone who can tell me where i can buy a valid renko charting for mt4 ? Thanks

Luk
  • #6,229
  • Aug 11, 2009 6:25pm Aug 11, 2009 6:25pm
Quoting johny pip
I have been "thinking real hard" about this:

Firstly, I would like to say that many people are using Renko with, seemingly, great success....
Good Post. As some others have pointed out, Nitro is primarily a momentum strategy. When we enter we play for continuation of a move. We really don't need indicators and we don't need Renko bars either, both are just crutches to get us to recognize when price has a high probability of continuation to our desired profit target (5 pips). They do provide us with a framework for seeing those high probability setups, so maybe we do need that.

I will take issue with one point. I see no reason why sampling based on time is more "valid" than sampling based on price movement. The average in both cases will simply follow the price series and give us a lagging approximation of where price has been. In the case of Renko, this data is pre-smoothed into equal sized bricks. Yes time is missing from Renko, but you could argue that Renko's innate smoothing is an advantage over time series data by focusing on what is really important: movement. Renko does that by equal-weighting equal-sized movement in a very democratic manner.

You might be right that it isn't possible to get any more info out of the Renko average than the underlying Renko bricks, but I argue that this is the case with any average and any currency time series because averaging works best on a series that is like a sine wave. I haven't seen too many currency charts that look like that!
  • #6,230
  • Aug 11, 2009 7:12pm Aug 11, 2009 7:12pm
All you really need to trade renko is a straight line (that you draw youself):
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******************* I'd rather make money than be right.
  • #6,231
  • Aug 11, 2009 7:19pm Aug 11, 2009 7:19pm
I'd rather be doing this than studying Communication Theory... but, such is life...
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How do you make a small fortune in Forex? Start with a large one!
  • #6,232
  • Aug 11, 2009 7:26pm Aug 11, 2009 7:26pm
Quoting 4xStar
All you really need to trade renko is a straight line (that you draw youself):
Can you please post the indicator drawing the yellow line?
"The only successful substitute for brains is silence."
  • #6,233
  • Aug 11, 2009 7:35pm Aug 11, 2009 7:35pm
Quoting DXTrade
Can you please post the indicator drawing the yellow line?
No the code is too complicated, it took me years to develop .. however if you make a $10k 'donaition' to my Pay Pal acct, I might be persuaded....
******************* I'd rather make money than be right.
  • #6,234
  • Aug 11, 2009 7:36pm Aug 11, 2009 7:36pm
Quoting Chris_B
These are the rules that from tomorrow i will print and keep in front of me:

1. I don't want to spend all my day watching my pc and markets
2. This is a work, a business, not a hobby or an amusement moment, so i want to work as less as possible
3. I need ONLY 4 (not 6,10 or 20)...ONLY 4 good signals every day...and every signal can give me 5 pips...for a total of 20 pips a day
4. This plan doesn't admit errors...the signals i choose have to be the most reliable as possible
5. NITRO is a plan that is suitable 24/6 but the best session...
Queste regole mi piacciono
******************* I'd rather make money than be right.
  • #6,235
  • Aug 11, 2009 7:47pm Aug 11, 2009 7:47pm
Quoting wannaberich
usually i try to find the next support or resistance level and define the stop imediatly after that. many times it's 20 or even 30 pips away. if we think of average 25 pips SL that means that to earn 20 pips and admiting there will be losses (and there will!!!) if we have 1 loss per day that means to finish with your 20 you need 9 x 5 pips and the tenth is the loss.

that 90% correct trades. do you think this is viable?

if we go to 15 pips average SL then we must have maximum 1 loss in every 7 trades. even so it seems to much for me.

can i...
Think I will take a pass on MM and TP and SL and win/loss v. profit expectancy issues permanently. I have posted so many times on these issues that it has just become so redundant as to be uninteresting at all.

Who knows what is viable any more? Hundreds of trades posted have not helped as we still get questions on these issues. Looking for that elusive 1:1 risk/reward thing in scalping the lower TF or Renko is not going to happen. Only solution is to swing trade a plan and hope. There, you will have a 55-60% win loss ratio but around a 5.5 profit expectancy. Losing game there too as most will not be able to withstand the drawdown when real money is on the line. Same old thing.

When all is said and done, a trader can either go get 2% consistently, stop trading and repeat the next day or they can't. They can either develop a faith in a trading plan or they can keep searching. They can either believe what the PA tells them or they can argue with it. You either develop a discipline or you flounder. As mentioned yesterday, many are better suited to joining a trading signal service and just going long or short as directed. Might work, might not. At least there is no thinking involved in the deal.

I will stick to my methodology as set. Easier to get 1 pip with 1 lot that 10 pips with .10 lot sizing. Less is more.

Regards.
  • #6,236
  • Aug 11, 2009 8:43pm Aug 11, 2009 8:43pm
Just seeking some guidance/feedback about how much, if any, consideration anyone gives to S/R points before pressing the plunger.

I am using DX's template and displaying the pivots. I think I am paying too much attention to them as I hesitate when price is close to them. As a result I seem to be getting into some trades too late and have them reverse on me.

I am thinking of turning them off to remove the hesitation but would like to here from anyone interested to comment about their experience.

I know that Edge's instructions make no mention about S/R (but I stand to be corrected if wrong) so am I just making things more complicated for myself?

Steve
  • #6,237
  • Edited 9:03pm Aug 11, 2009 8:49pm | Edited 9:03pm
Back from beach vacation too , had a couple of sleepless nights trying to catch up on this thread, but finally did it. I see it's now growing at more than it's usual 100 pages a week.

Was wondering if there are any mt4 renko users that have tried the free version renko_live_scr.mq4?, see paper clip, page 3 as of right now.

I'm trying to make the c4 to nitro switch using it, and was wondering if it is as good or better than the store bought version, but don't have the other one for comparison.

Still don't think I quite have the hang of it, Renko/Nitro, but that's probably because I was trading some pairs today that weren't Edge approved pairs, a/u for one my beast!, which I will slay some day, I hope
Attached Image (click to enlarge)
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  • #6,238
  • Aug 11, 2009 8:57pm Aug 11, 2009 8:57pm
Dx if i might ask a favor, if not no worries. but could the bombs be 1 size larger, I'm getting old and the eye sight is not what it once was
  • #6,239
  • Aug 11, 2009 9:09pm Aug 11, 2009 9:09pm
Quoting trade987
PRIMER...

1 - SM 'Scalper' candles (settings are 2,1,1,1 under the inputs tab and work the colors tab to your liking).
This is the only primer you need.

What does this mean?

settings are 2,1,1,1 under the inputs tab

I have...
I think you just want to change the TRIX_Period to 2, since 3 is the default.
The rest of the numbs 1,1,1 are already set.
  • #6,240
  • Aug 11, 2009 10:10pm Aug 11, 2009 10:10pm
Have left the non-Renko pairs up for comparison. 4 x 5 pips
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