DislikedIt is called renko. There are a few free indis out there but the commercial one is recommended. A quick google search will lead you there.
http://www.investopedia.com/terms/r/renkochart.aspIgnored
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DislikedIt is called renko. There are a few free indis out there but the commercial one is recommended. A quick google search will lead you there.
http://www.investopedia.com/terms/r/renkochart.aspIgnored
DislikedI think this is a question many people have. Renko charts are useful because they take time out of the equation. The forex markets have slow periods and ranging periods, which effect indicators such as moving averages (the price stays at the same price so it flattens out). With Renko bars, you get to see the movement, and remove the time element. Indicators look different when applied to renko charts because it focuses only on the movement.
Watching the price with 10 pip lines can have a similar effect, but only if you aren't using indicators...Ignored
Disliked
Nobody has PM'ed me recommending a free script as I requested, so I'll consider purchasing the commercial one.
...
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Dislikedhi bali,can you post template please and talk about your trading rules,thanks mate.Ignored
DislikedI'm basically waiting till all 4 pairs (EY UY AY ChY) are correlated, the ma is aligned with the candles, and momentum is high in the direction of the trade.
then if all the bombs get green... KABOOM!!Ignored
QuoteDislikedThe hardest part seems to be to tie the horses and don't go with the emotions...
DislikedI've spent another few hours this morning studying a Renko chart for EURJPY. I've tried several momentum indicators to try to filter trades with no luck.
....
I hope that the group can continue to work on different ideas. I can't think of anything else to do at this point.
DocIgnored
DislikedHi folks.....
Here is Heiken Ashi overlaid on renko 5-tic script....
Easier to detect a trend...
Cheers !Ignored
DislikedI really hate to ask ya this but could/would one of you show me a screen shot of the AUDJPY with renko-wicks , showing the time period of today at (chart time) 17:04. It was the swing low that went down to about 77.50ish.Theres a screen shot attached to help ya locate the point-in-time I'm looking at .
Thanks.....(above and beyond)
krlyIgnored
Disliked5 tic Renko (top) vs. 10 tic Renko (botton)
Any conclusions from our local geniuses?
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