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C4 Scalping

  • #6,781
  • Aug 16, 2009 2:21am Aug 16, 2009 2:21am
[quote=krly;2957718]Whew !!...just read every single page. What a great thread. Thanks, Edgetrader, DX,SM et al for your time and effort.
I REALLY hate to do this in my very first post...but...I Googled Renko + MT4 and saw the freebie (that the thread advised against) and a bunch of "how-to-use" posts but none on where to get it. Would someone mind letting me know the source to purchase Renko ? (please/thank you).
Also , GLENEAGLE, would you mind emailing me, I've got a few questions for ya.

You are welcome to post any questions regarding C4/Nitro on the thread.
There are a lot of traders on the thread that have had very good experience and exposure by now that can also assist you.

In the meantime, please edit your post and remove your email address, it is not a good idea to post it on a public forum.
" Never let the past hold the future to ransom "
  • #6,782
  • Aug 16, 2009 3:59am Aug 16, 2009 3:59am
Quoting krly
Whew !!...just read every single page. What a great thread. Thanks, Edgetrader, DX,SM et al for your time and effort....
Hello KRLY,

try to google "renko chart mql".

Good luck...
  • #6,783
  • Aug 16, 2009 4:49am Aug 16, 2009 4:49am
Krly, I sent you a PM yesterday with the link to buy Renko - check you messages.

[quote=krly;2957718]Whew !!...just read every single page. What a great thread. Thanks, Edgetrader, DX,SM et al for your time and effort.
I REALLY hate to do this in my very first post...but...I Googled Renko + MT4 and saw the freebie (that the thread advised against) and a bunch of "how-to-use" posts but none on where to get it. Would someone mind letting me know the source to purchase Renko ?
Read the entire thread BEFORE you ask questions!
  • #6,784
  • Aug 16, 2009 6:38am Aug 16, 2009 6:38am
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.
Hiii
Could you post the bomb meter for c4 not nitro..

thanks
  • #6,785
  • Aug 16, 2009 7:03am Aug 16, 2009 7:03am
Quoting Edgetrader
ALL PA IS MOMENTUM BASED folks. Without it, you have no PA movement and no trading opportunities. C4 and MT4 Nitro are MOMENTUM based trading plans.

Look at Nitro MT4 very closely. How many times is there a +5 or so available on the cross?

Indicator is live so no repainting issue. A cross is a cross.

Plan is to trade with minimal indicators and by observing PA.

Lets stay in the moment. Pretty nice opportunity for the ea techies to do some work here also. Lets see if they can do so and present something 'tested' and viable....
Just for visual testing purpose...to spend some hour in a summer sunday :-)
I've created an indy that uses SMI (Stochastic Momentum Index) that is the same as Indexed Momentum...
Instead of showing the 2 lines...my indy shows arrows...when a cross occours...
As Edge says..."a cross is a cross" so...an arrow is an arrow...
I've played a bit with settings...and you can see the results in the image attached...
The idea could be to enter on the open of the brick after the arrow for a conservative trading (because on the current brick the arrow is still repainting..it can disappear), an agressive trader can enter as soon as arrow appears...but i think with more false signals.

From my visual backtest we are on an average 90% of profitability, it suffers a bit during ranging markets...but if we take only signals in the direction of the overall trend..it does much better...
And this ONLY with MOMENTUM...so if we add our "mental software" (upgraded version...at least 3.0) in trading...we can reach a hit rate quite near to 100% ;-)


Before any question....
1. I don't know how this indy can perform in real time.
2. Every pair could have different settings, due to different volatilities
3. I WILL NOT POST THIS INDY WITHOUT EDGE'S CONSENSUS
4. you can obtain the same signals watching crosses on Indexed Momentum
Attached Image (click to enlarge)
Click to Enlarge Name: momo.gif Size: 10 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #6,786
  • Aug 16, 2009 7:18am Aug 16, 2009 7:18am
Quoting hoichoi
Hiii
Could you post the bomb meter for c4 not nitro..

thanks
What you seek is located here:

http://www.forexfactory.com/showpost.php?p=2947558&postcount=6222
I trade what I see on my charts. Do Not listen to the Muppets.
  • #6,787
  • Aug 16, 2009 7:49am Aug 16, 2009 7:49am
Hey Chris,

nice indi - would like to try it out - can u share via pm or e-mail pls ?

texx(at)imail.de ([email protected])

thanks
  • #6,788
  • Aug 16, 2009 8:01am Aug 16, 2009 8:01am
Quoting tex
Hey Chris,

nice indi - would like to try it out - can u share via pm or e-mail pls ?

texx(at)imail.de ([email protected])

thanks
My guess is that Chris's mail box is going to fill up with requests for this indicator.
We all owe Edge a huge dept of gratitude for teaching us the traders mindset.
I actually think that what Edge is teaching is how a trader thinks first and a system second.
The system, is secondary, how we think is primary.
I am slowly, slowly, slowly, slowly learning this.
I guess the problem with new indicators, is we need to learn to trust our system, and to trust our instincts. If we keep on changing indicators, we will never learn to trust ourselves and our instincts......so we will never go out into deep water, because we don't trust.
However, all that said, I tried installing SMI on my renko charts and could not get it to make any nice little arrows, and I could not get it to line up nicely with any movements, so I would be curious to see his settings and his indicator. (see as I said....SLOWLY learning to trust my self and "my" system)
I use quotations around the word my system, since it is Edges system, but I am learning to make it my own
  • #6,789
  • Aug 16, 2009 9:54am Aug 16, 2009 9:54am
Quoting pgpb
My guess is that Chris's mail box is going to fill up with requests for this indicator.
We all owe Edge a huge dept of gratitude for teaching us the traders mindset.
I actually think that what Edge is teaching is how a trader thinks first and a system second.
The system, is secondary, how we think is primary.
I am slowly, slowly, slowly, slowly learning this.
I guess the problem with new indicators, is we need to learn to trust our system, and to trust our instincts. If we keep on changing indicators, we will never learn to trust ourselves and our...

I agree, the right mindset and trusting our Instinkts are the key to Success !
Ok, the right mindset is the smaller problem. We have a very good teacher here in Edge´s "virtual Bootkamp" !
Trusting our Instinkts is a bit more difficult. They have to be developed at first! We must learn to SEE, what the PA is doing. And we must learn to FEEL the "Vibrations" of PA! This can be a very long Process..
But how can we develop our Instinkts ?
I recomment for example a few hundred Hours in front of our naked Charts.
TF <= 5M. Only watching with an open mind. Sounds creasy? Right, but it works!!!
  • #6,790
  • Aug 16, 2009 10:23am Aug 16, 2009 10:23am
Quoting Chris_B
Just for visual testing purpose...to spend some hour in a summer sunday :-)
I've created an indy that uses SMI (Stochastic Momentum Index) that is the same as Indexed Momentum...
Instead of showing the 2 lines...my indy shows arrows...when a cross occours...
As Edge says..."a cross is a cross" so...an arrow is an arrow...
I've played a bit with settings...and you can see the results in the image attached...
The idea could be to enter on the open of the brick after the arrow for a conservative trading (because on the current brick the arrow is...
Getting very close now!!!

By all means, post THIS indicator. I too wish to see it as designed. What I really would like is the visual of a live momentum indi combined with the soothing of an arrow confirmation. When we can see this, it will also allow DXTrade an opportunity to potentially enhance the 'info meter' even further. I know he likes it as set, but it can be even better. Challenge yourself. Many have come a VERY LONG way in a VERY SHORT time. From a simple charting perspective alone, we have seen the 'less is more' concept work well there also. Less indi's and more chart space to observe the big picture without clutter to skew the vision.

The ENTIRE methodology of scalping (imho) is based upon MOMENTUM.

"jacson101' saw this quite a while ago and proceeded to do some 'internal' testing based upon his own personal theories. Subsequently, he initially furnished the thread with a MOMENTUM cross indi.. In addition, he has refined the settings to that which he feels provide the best chance for a trader to utilize to augment their mental trading process. It is extremely close to a 3,1,1,1 trix and it identifies strength very well on a simple cross.

Chris has been working quite a while from a technical perspective also on things he feels can be of assistance. Thus, we have simplification of Jacks material in the form of an arrow.

Now, we need to match those arrows with that of DXTrade's excellent contribution, the 'info meter'.

Now, here is what I personally would like to see.

EVERYTHING SHOULD BE BASED ON NITRO, NOT C4!!!!!!!!!
THE FUTURE IS NITRO, C4 is a training tool to learn to watch PA.

As such, I will soon leave the C4 thread as it has served its purpose. Those who wish to trade C4 are welcome to do so. It is right there for the taking so do with it as you will.

Nitro is a progressive step in this deal. In addition, Nitro will outperform C4 hands down. Do not bother attempting debate on this. It is not worth your time.

As Chris has mentioned, Nitro can indeed run at around 90% or better depending on trader ability. As such, part of the equation is complete. Chris is only one of 14 such individuals to confirm this. You can believe the numbers or not, it matters nothing to me.

I mentioned yesterday that the coders should be 'gearing up' now.
If you want to develop an ea for MT4 that is worthwhile, you now have a huge advantage. It takes only ONE indi to do this. Lets see you produce some mojo here. The ea will undoubtedly take EVERY signal. That is fine. It is YOUR job to take only the best signals. You are ALWAYS going to have to do some work. This is not a government services program.

Those who attempt to operate a ea (when developed) full time on its own, my wish is that you become so poor as to rival a pauper. May greed and stupidity leave you destitute and foraging for food forever! Perhaps then those who are so weak and undeserving will realize how really small and insignificant they really are. Last warning to 'do the work'.

Big week is going to unfold starting Monday.

If you really want to progress further, then the time has come to get on the bandwagon. Will start a new thread next weekend dedicated to Nitro. It is time to learn quickly folks!!!!!!!

And yes, Nitro too can be traded with ANY style of trading available, and traded damn well at that.

Two indi's and a meter. Pretty easy.

Thread will suffer rapid deterioration this week as some who are joy riding will be left behind. At least this is what I anticipate. We will now quickly separate those with drive and ability from those who do not have what it takes. Sad but true. I said from the beginning it was a numbers game. Well, game on this week!

Regards.
  • #6,791
  • Aug 16, 2009 10:58am Aug 16, 2009 10:58am
Ok...here it is!!!

But read very carefully what i'm saying...

As you can see in the image...the arrows are just the cross of SMI, you can change the settings, i have spent some time today to catch the better settings, to catch signals as soon as possible and to eliminate the more false signals as possible...if i have to be honest this is an over optimization for EURJPY, i'm quite sure that we need to change settings on each pair.
For EURJPY settings are 2,10,2,3
Feel free to try other settings...i'm not sure that these are the best...

YOU DON'T NEED SMI in your chart, but you need it in your indicatos folder, i'm not a real coder, so my indy needs the original in the folder to show arrows...

Notice again that i don't know how this can work in real time because i've code it today...but if the code is correct...it simply reflects SMI crosses.

I attach both indys and hope it will work properly..
Attached Image (click to enlarge)
Click to Enlarge Name: momo2.gif Size: 11 KB
Attached File(s)
File Type: ex4 Nitro-Momentum-Indy.ex4   4 KB | 828 downloads
File Type: ex4 SMI.ex4   5 KB | 921 downloads
Market is like a puzzle, YOU have to fit the pieces!!
  • #6,792
  • Aug 16, 2009 11:01am Aug 16, 2009 11:01am
Quoting Edgetrader
. . . Those who attempt to operate a ea (when developed) full time on its own, my wish is that you become so poor as to rival a pauper. May greed and stupidity leave you destitute and foraging for food forever! Perhaps then those who are so weak and undeserving will realize how really small and insignificant they really are. Last warning to 'do the work'.

Big week is going to unfold starting Monday.

If you really want to progress further, then the time has come to get on the bandwagon. Will start a new thread next weekend...
Love the comment about the EA. Even if an EA can work (and I sincerely doubt that), people need to learn how to trade before they attempt to use such a crutch.

Totally looking forward to the new thread.

Doc
  • #6,793
  • Aug 16, 2009 12:47pm Aug 16, 2009 12:47pm
Great work on the indy Chris B...I have been messing with it since Jacson intro'd it weeks ago. When I have time tonight I will note my observations.
I'm really looking forward to the Nitro thread and taking it to the next level.
Can't wait for the Nitro thread!
Q
The Only Constant Is Change!
  • #6,794
  • Aug 16, 2009 1:07pm Aug 16, 2009 1:07pm
Hi JazzmanQ2...please PM me...there is something that I hope you can help me with.

Thanks...freddi

Quoting JazzmanQ2
A very simple way to stay with the trend thanks to the DX Dash.
For all struggling with counter trend trades change the MA settings on the dash to a larger number. Anything from 21 on up will help filter head fakes. I have mine set to 48 in the screen shots. It's obvious when my ma 8 3 6 gets crossed at a glance, trend and strength not always so obvious. Look how it helps re entering on a bigger move. Just an idea to keep you out of bad trades. It helped me on GJ - 9 pip spread!
Q
  • #6,795
  • Aug 16, 2009 1:36pm Aug 16, 2009 1:36pm
Quoting Chris_B
Ok...here it is!!!

But read very carefully what i'm saying...

As you can see in the image...the arrows are just the cross of SMI, you can change the settings, i have spent some time today to catch the better settings, to catch signals as soon as possible and to eliminate the more false signals as possible...if i have to be honest this is an over optimization for EURJPY, i'm quite sure that we need to change settings on each pair.
For EURJPY settings are 2,10,2,3
Feel free to try other settings...i'm not sure that these are the best...

YOU...


Focus ALL efforts on the two most likely periods to create good volume and volatility and ONLY the NITRO PAIRS!!!!!!!!!!

Asian/London and London/U.S. overlapping. Forget the rest of the times!!!!!!!!

1 hour before to 2.5 HRS after each. Put these on your charts! Focus your work efforts on this MAJOR breakthrough!!!!!!

Resist the greed demon and you will be well served. If this is done correctly, the combination of the live Momentum and arrow signal should be close enough in coordination as to be placed into the DX info meter. You will then have one (1) signal alone to work off of.

Then, we will go into post graduate study on Nitro and can move towards 'Chernobyl'.

Regards.
  • #6,796
  • Aug 16, 2009 2:22pm Aug 16, 2009 2:22pm
Quoting nsteve
Thank you for your contribution Chris!

I'm not sure how the arrows from your indi relate to SMI. On the attached chart (EURJPY) they seem to appear (marked with red lines) even when there are no SMI crossings. I used settings of 2,10,2,3 for both the Nitro-Momentum-Indy and SMI. How would one go about optimising it for the other Nitro pairs? Please help me understand. Thanks!
Hi,
Either you need an optician, or I do. I see a cross confirmed on each of your red vertical lines. Remember that a cross cant be confirmed until the candle after the lines meet -otherwise you would not know if they crossed or kissed.
  • #6,797
  • Aug 16, 2009 2:27pm Aug 16, 2009 2:27pm
Quoting nsteve
Thank you for your contribution Chris!

I'm not sure how the arrows from your indi relate to SMI. On the attached chart (EURJPY) they seem to appear (marked with red lines) even when there are no SMI crossings. I used settings of 2,10,2,3 for both the Nitro-Momentum-Indy and SMI. How would one go about optimising it for the other Nitro pairs? Please help me understand. Thanks!
nsteve,

You have inputs for both the smi indi and the nitro-momentum indi. If the inputs match each other, the arrows and crosses will match too.
Mike
  • #6,798
  • Aug 16, 2009 2:35pm Aug 16, 2009 2:35pm
Quoting Edgetrader
Getting very close now!!!

THE FUTURE IS NITRO, C4 is a training tool to learn to watch PA.

As such, I will soon leave the C4 thread as it has served its purpose. Those who wish to trade C4 are welcome to do so. It is right there for the taking so do with it as you will.
Edge,
Great stuff! I'm very much looking forward to the new thread.

So far my 'main' effort on NITRO has been coding up Renko on a different charting package, one that I am familiar with. MT4 is new to me and to be honest not my fave and besides I don't know the API. Rest assured, I have been putting in the effort!

My aim is to proof up NITRO with some backtest statistics. I want to see, given a simple entry criteria, what the percentage chance is to make 2,3,4 or 5 pips is.

I will post my results on your new thread as soon as they are ready. I hope they will be interesting to all.

Regards,
John.
  • #6,799
  • Aug 16, 2009 3:02pm Aug 16, 2009 3:02pm
Quoting johny pip
Edge,

I will post my results on your new thread as soon as they are ready. I hope they will be interesting to all.

Regards,
John.
Looking forward to your results...thanks for the effort!
Q
The Only Constant Is Change!
  • #6,800
  • Aug 16, 2009 3:23pm Aug 16, 2009 3:23pm
Quoting johny pip
Edge,
Great stuff! I'm very much looking forward to the new thread.

So far my 'main' effort on NITRO has been coding up Renko on a different charting package, one that I am familiar with. MT4 is new to me and to be honest not my fave and besides I don't know the API. Rest assured, I have been putting in the effort!

My aim is to proof up NITRO with some backtest statistics. I want to see, given a simple entry criteria, what the percentage chance is to make 2,3,4 or 5 pips is.

I will post my results on your new thread as soon as they are ready....
Nitro is already proofed up but I do admire the work ethic. Also, I am aware that just because someone says something does not mean it is true. Initiative taken to confirm statements are welcome.

Make sure to use only a 10 tic brick and then run your research efforts targeting 5 pips or less out of ONE brick.

Make sure to check UY also. Much less of an 'issue' for the squeemish for obvious reasoning.

Regards.
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