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C4 Scalping

  • #7,161
  • Aug 19, 2009 8:36am Aug 19, 2009 8:36am
David, in the settings for scalper candles make Draw_Closes = False
  • #7,162
  • Aug 19, 2009 8:43am Aug 19, 2009 8:43am
Quoting aktur
Nice to hear that it works now as it should.

If somebody is done with trading for today and likes my Renko's I invite to post a review on my site. Feedback from real users is priceless for other people.

Regards, Michal
Hi Michal, where is your site please?
  • #7,163
  • Aug 19, 2009 8:44am Aug 19, 2009 8:44am
When I download Renko from site is it new version or do I need to look for special version

Thanks
Mombone
  • #7,164
  • Aug 19, 2009 8:46am Aug 19, 2009 8:46am
Quoting aktur
It is ready. The old functionality is present as long the anchor input is less than zero.
This is what confused me - the "less than zero part". I'm not entering anything in the variable and all prices now end in zero, which is fine with me - people like round numbers
Old Benjamin was right
  • #7,165
  • Aug 19, 2009 9:02am Aug 19, 2009 9:02am
Quoting Lou G
Could you briefly explain what the "anchor price" option does and what I need to enter in that variable? No instructions came with indicator.

Thank you.
You don't need to put anything in the variable unless you want disable the function. In this case put some negative number there.
  • #7,166
  • Aug 19, 2009 9:22am Aug 19, 2009 9:22am
Quoting aktur
You don't need to put anything in the variable unless you want disable the function. In this case put some negative number there.
Thank you, Mr. Rupka - that was not immediately obvious to me (I am not the brightest bulb on the marquee) but now I understand.
Old Benjamin was right
  • #7,167
  • Aug 19, 2009 9:50am Aug 19, 2009 9:50am
I put Renko and the C4 basic concept to a head to head competition. Since London open I manually trade signals given by both. The screenshot is with the C4 + Sm Candles 3.1 only entries (no other indis). On the other hand I lost my shirt with Renko.. too many 20 pip stops hit and ended up in a big hole. Of course - this is my experience.. I like trading what I see and not having my head buried in the sand under Renko bricks. Others may feel different and put Renko to good use.. good luck!
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Click to Enlarge Name: C4_barebone_livetrades2.jpg Size: 361 KB
If it backtests good run it live!
  • #7,168
  • Aug 19, 2009 9:56am Aug 19, 2009 9:56am
-15 +1 & eight +5s
Total = +26 pips

Traded mostly on EURJPY while watching the other pairs for confirmation. Broke the rules a few times and made some trades purely on observation of PA and momentum across the four pairs. I'm starting to feel calmer and less doubtful with each new trading day.
May your life be flooded with pips!
Matthew
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 40 KB
  • #7,169
  • Aug 19, 2009 10:02am Aug 19, 2009 10:02am
I have decided to anchor my blocks at the xxx5 level on the basis that often the price will just touch the xx00/x20/xx50/xx80 levels before retracing. This would have the effect of completing the block anchored at the xxx0 leveland possibly solidifying the arrow only for the price to retrace. Having the block complete at, say, xx95 and the price just nudges up over the 0000 before retracing then it would possibly be enough to take the 5 pip profit. Just a thought will see how it pans out.

To define the anchor point for the yen crosses it is necessary to input 0.05 (2 decimal place pairs)into the "Anchor Price" box. For the Eur/Aud and GBP against the USD ( 4 decimal place pairs) the input is 0.0005
  • #7,170
  • Aug 19, 2009 10:05am Aug 19, 2009 10:05am
Ok guys...i've now finished to code the new version of the indy

I've worked hard today to make the indy standalone...so you don't need any other indy to make it work.

What it does???

It checks the Momentum (the "classical" Momentum indy that comes with MT4) and checks his acceleration.
It draws an arrow everytime Momentum and Acceleration are positive or negative. This is not a warranty for a good trade!!


How to use it???

The idea is to enter the trade at the OPEN of the brick with the arrow (not at the close) or when the arrow appears...
But you have to know that during the brick the arrow can disappear, so...if an arrow appears...make sure that PA is moving in the right way before placing a trade.

The arrow is "ONLY A TRADE POSSIBILITY", not an oracle.

The best thing we can do is try it for some day and see if it's useful or not...i don't guarantee nothing.
Attached Image (click to enlarge)
Click to Enlarge Name: 081909b.gif Size: 12 KB
Attached File(s)
File Type: ex4 Nitro-Momentum-Indy-V2.ex4   4 KB | 941 downloads
Market is like a puzzle, YOU have to fit the pieces!!
  • #7,171
  • Aug 19, 2009 10:08am Aug 19, 2009 10:08am
Quoting Chris_B
Ok guys...i've now finished to code the new version of the indy

I've worked hard today to make the indy standalone...so you don't need any other indy..
Good work Chris, thanks.
TTFN Merlyn
  • #7,172
  • Aug 19, 2009 10:13am Aug 19, 2009 10:13am
Thanks a lot Chris. Greatly appreciated. Will give it a go

Dave W
  • #7,173
  • Aug 19, 2009 10:17am Aug 19, 2009 10:17am
Thanks for this Chris, it looks good.
Matthew
Quoting Chris_B
Ok guys...i've now finished to code the new version of the indy

I've worked hard today to make the indy standalone...so you don't need any other indy to make it work.

What it does???

It checks the Momentum (the "classical" Momentum indy that comes with MT4) and checks his acceleration.
It draws an arrow everytime Momentum and Acceleration are positive or negative. This is not a warranty for a good trade!!


How to use it???

The idea is to enter the trade at the OPEN of the brick with the arrow (not at the...
  • #7,174
  • Aug 19, 2009 10:22am Aug 19, 2009 10:22am
It checks the acceleration of MOM not the acceleration of PA ?
Quoting Chris_B
Ok guys...i've now finished to code the new version of the indy

I've worked hard today to make the indy standalone...so you don't need any other indy to make it work.

What it does???

It checks the Momentum (the "classical" Momentum indy that comes with MT4) and checks his acceleration.
It draws an arrow everytime Momentum and Acceleration are positive or negative. This is not a warranty for a good trade!!


How to use it???

The idea is to enter the trade at the OPEN of the brick with the arrow (not...
  • #7,175
  • Aug 19, 2009 10:23am Aug 19, 2009 10:23am
Thks Chris_B for the V.2 indy

I noted there is no input for the momentum as opposed to version 1. What is the default setting?

Many thks again.

Dngfx
  • #7,176
  • Aug 19, 2009 10:24am Aug 19, 2009 10:24am
Quoting tex
It checks the acceleration of MOM not the acceleration of PA ?
Yes Tex...acceleration of MOM...i have no idea on how to check acceleration of PA...
Market is like a puzzle, YOU have to fit the pieces!!
  • #7,177
  • Aug 19, 2009 10:25am Aug 19, 2009 10:25am
Quoting dngfx
Thks Chris_B for the V.2 indy

I noted there is no input for the momentum as opposed to version 1. What is the default setting?

Many thks again.

Dngfx
4...as per Edge's intructions..
Market is like a puzzle, YOU have to fit the pieces!!
  • #7,178
  • Aug 19, 2009 10:26am Aug 19, 2009 10:26am
Quoting Chris_B
Ok guys...i've now finished to code the new version of the indy

I've worked hard today to make the indy standalone...so you don't need any other indy to make it work.
Thanks Chris for all the hard work. I'll give it a try

Thanks

Greg
  • #7,179
  • Aug 19, 2009 10:29am Aug 19, 2009 10:29am
Looks good
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Click to Enlarge Name: mm.gif Size: 43 KB
  • #7,180
  • Aug 19, 2009 10:30am Aug 19, 2009 10:30am
Quoting Chris_B
Ok guys...i've now finished to code the new version of the indy

I've worked hard today to make the indy standalone...so you don't need any other indy to make it work.

What it does???

It checks the Momentum (the "classical" Momentum indy that comes with MT4) and checks his acceleration.
It draws an arrow everytime Momentum and Acceleration are positive or negative. This is not a warranty for a good trade!!


How to use it???

The idea is to enter the trade at the OPEN of the brick with the arrow (not at the...
Hi Chris,
I've been evaluating Momentum and developing a similar indicator in TS. (Sorry, this is not an offer to share the indicator. It is still a work in progress.). I have some observations that may help eliminate some of the noise.
1. If Acceleration is extended to 2 bars instead of the traditional one bar and then compared with Momentum, it eliminates some noise.
2. If Acceleration is greater than Momentum (for long comparisons) and is less than Momentum (for short comparisons) then you also can eliminate some noise.
3. If you correlate the SMI with Momentum you can eliminate almost all the noise (about 90%).

Close but still no cigar. Probably has something to do with that "Simplicity" thing that Edge keeps trying to hammer home. It's probably right under our noses and we can't smell it yet.
4XTrader2
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