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NITRO Variations for Open-minded Traders

  • #101
  • Aug 28, 2009 9:36am Aug 28, 2009 9:36am
Quoting justme
Hi Johny pip,
You may want to try this. I'm not a professional coder, still managed to produce such a thing somehow... It's an indicator, not a script.

Attachment
Interesting variation for who wants to mix C4 and Nitro....

I will give it a try... but why sometimes it doesn't draw the box? Watch my chart..
Attached Image (click to enlarge)
Click to Enlarge Name: renko.gif Size: 16 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #102
  • Aug 28, 2009 9:47am Aug 28, 2009 9:47am
My guess would be that the box is there, but the two time coordinates (x axis) are the same.

Try drawing a rectangle on your chart, but make the time the same for both coordinates. The rectangle is there, but it has no "width".

Quoting Chris_B
I will give it a try... but why sometimes it doesn't draw the box? Watch my chart..
  • #103
  • Aug 28, 2009 9:57am Aug 28, 2009 9:57am
Quoting zznbrm
My guess would be that the box is there, but the two time coordinates (x axis) are the same.

Try drawing a rectangle on your chart, but make the time the same for both coordinates. The rectangle is there, but it has no "width".
Due to a too fast move?
Market is like a puzzle, YOU have to fit the pieces!!
  • #104
  • Aug 28, 2009 10:06am Aug 28, 2009 10:06am
Yes. An easier way to see it is to put the indicator on a H1 chart with block size of 10. You will see lots of gaps with the bigger candles.

Quoting Chris_B
Due to a too fast move?
  • #105
  • Aug 28, 2009 10:08am Aug 28, 2009 10:08am
Quoting Chris_B
Interesting variation for who wants to mix C4 and Nitro....

I will give it a try... but why sometimes it doesn't draw the box? Watch my chart..
I'm guessing the box doesn't draw sometimes because the price moves more than one box in one candle. I had the same problem with my one for the IT charts. What I did is use a while loop so that it draws one box at a time until the price (which has gone ahead, if you get me) is inside a box. And of course I have no way of drawing coloured boxes on my chart system, so it is easer to see with what you have done here.

Thanks very much, this really shows what is happening 'inside' Renko.

Could be VERY useful for making better entries having already decided whether to go long or short.

Cheers,
John.
  • #106
  • Aug 28, 2009 10:09am Aug 28, 2009 10:09am
Quoting Chris_B
Interesting variation for who wants to mix C4 and Nitro....

I will give it a try... but why sometimes it doesn't draw the box? Watch my chart..
It's happening during sharp moves when a single bar's range is greater (or equal) than BoxSize*2. In that case only the last (strongest) brick appears on the chart. Don't know how to overcome this issue and paint several boxes on the single bar. After all I don't think it's so important - it would be simply a colored bar.

Regards
Wherever you look, there's something to be seen
  • #107
  • Aug 28, 2009 10:19am Aug 28, 2009 10:19am
Quoting johny pip
I'm guessing the box doesn't draw sometimes because the price moves more than one box in one candle. I had the same problem with my one for the IT charts. What I did is use a while loop so that it draws one box at a time until the price (which has gone ahead, if you get me) is inside a box. And of course I have no way of drawing coloured boxes on my chart system, so it is easer to see with what you have done here.

Thanks very much, this really shows what is happening 'inside' Renko.

Could be VERY useful for making better entries having already...
Maybe Justme (the author of this indy) can take your suggestion to make it better..
Market is like a puzzle, YOU have to fit the pieces!!
  • #108
  • Aug 28, 2009 10:27am Aug 28, 2009 10:27am
studbiol,

support turning to resistance and resistance turning to support is the most basic method for determining which way the market may move. if you are just learning to trade, and have not spent much time with indicators, i would highly recommend learning to read price action without them. it is not only possible, but also much easier to see how price moves without the distraction of indicators (again, this is my opinion and i know others disagree). after you understand how price moves by turning support into resistance and vice versa, you can add trendlines to help you even more. note, this is not new information, it is the most fundamental principle of trading that every professional trader understands. the quicker you understand how and WHY price moves the way it does, the more effective trader you will become. unfortunately, there are no shortcuts. the only real way to learn it is screen time--practice, practice, practice.
Attached Image (click to enlarge)
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  • #109
  • Aug 28, 2009 10:28am Aug 28, 2009 10:28am
Today i'm absolutely C4 addicted

3 others trades "after hour" on another account...

13 trades today

11 C4 all wins
2 Nitro all wins

It seems that switching back from Nitro to C4 makes things very simple... like walking after we have learned to run

The "sensibility" in seing the PA moving is much better...
Attached Image (click to enlarge)
Click to Enlarge Name: c4.gif Size: 55 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #110
  • Aug 28, 2009 10:30am Aug 28, 2009 10:30am
Quoting Chris_B
Maybe Justme (the author of this indy) can take your suggestion to make it better..
Would be glad to give some quicker reply but as a 'junior member' I can't because of this:

'Your submission is not yet visible; it must first pass through the moderation queue. Submissions from Junior Members are hand-moderated as a quality control measure'
Wherever you look, there's something to be seen
  • #111
  • Aug 28, 2009 10:51am Aug 28, 2009 10:51am
Another win, just set it and forget it... Can't wait for Monday. Netted 5.6% on my live account over the last two days. Aiming for 2% per day.
Attached Image (click to enlarge)
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  • #112
  • Aug 28, 2009 11:34am Aug 28, 2009 11:34am
A Nitro trade using supports and resistences...

EURJPY has broken the support...when this happens...PA usually accelerates..

I was there... for easy 5 pips..

That's all for this week...good weekend to all!!
Attached Image (click to enlarge)
Click to Enlarge Name: nitro.gif Size: 25 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #113
  • Aug 28, 2009 12:46pm Aug 28, 2009 12:46pm
Indicator updated (see post #86). Now it looks better on big candles.
Wherever you look, there's something to be seen
  • #114
  • Aug 28, 2009 12:46pm Aug 28, 2009 12:46pm
Quoting Chris_B
Interesting variation for who wants to mix C4 and Nitro....

I will give it a try... but why sometimes it doesn't draw the box? Watch my chart..
Hi,
My guess would be that it can only draw one box per candle.
  • #115
  • Aug 28, 2009 12:47pm Aug 28, 2009 12:47pm
Only time for one trade today.

+5 X 4 lots
That's one loss in last 10 days. That loss was my own stupidity. trading around the news AND entering late. The move was over.

Just taking one trade a day is working quite well so far.


Just watching momentum and waiting for correlation. I traded the aj today because I just liked the setup better. It had a more defined movement and direction.

Attached Image (click to enlarge)
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  • #116
  • Aug 28, 2009 1:57pm Aug 28, 2009 1:57pm
Quoting asdf
studbiol,

support turning to resistance and resistance turning to support is the most basic ..... practice, practice, practice.


Thanks, next week I will ask you some more.

If there are pips you can collect - just do it!
  • #117
  • Aug 28, 2009 5:46pm Aug 28, 2009 5:46pm
Quoting Lou G
If you go looking for the free version be sure you go all the way to the end of the thread. The original has gone through some enhancements and bug fixes. Current version is v1.6 and is in beta...

Lou, just wanted to pop in to say, thank you very-very much for your work!
  • #118
  • Aug 29, 2009 2:52am Aug 29, 2009 2:52am
For those inclined to experiment...

I've noted in the prime time trading that every time there is a C4 set up a renko reversal is forming...

Notice:

Scalper candles change color
Lwma changes color
Price breaks the renko box

Sometimes in retraces...but the probabilities are very good
5 pips are guaranteed most of the time...and the SL can be setted just above the last higher high or below the last lower low...at an average of 15 pips...

So...we can have a 15/5 risk/reward...
Or...a 15/10 risk/reward..

So... with a 70% hit rate we have:

7x10=70 wins
3x15=45 losses
total +25

but we know that we have a higher hit rate...let's say 80%

8x10=80 wins
2x15=30 losses
total +50

This indy is very useful also for a visual backtest of original C4..
Everytime a C4 signal appears (change of scalper candles color and change of lwma color)...we can see that at least one renko box is formed...what doest it mean?? That we can make at least 10 pips with a very high probability...
So...it means that C4 is a very very very good strategy to scalp.

These are just my observation during the weekend but i think it can be tested next week...

P.S. Thanks Justme for the update of the indy...its seems to work well now.
Attached Image (click to enlarge)
Click to Enlarge Name: c4renko.gif Size: 29 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #119
  • Aug 29, 2009 4:05am Aug 29, 2009 4:05am
Quoting Chris_B

I've noted in the prime time trading that every time there is a C4 set up a renko reversal is forming...

Sometimes in retraces...but the probabilities are very good

This indy is very useful also for a visual backtest of original C4..
Everytime a C4 signal appears (change of scalper candles color and change of lwma color)...we can see that at least one renko box is formed...what doest it mean?? That we can make at least 10 pips with a very high probability...
So...it means that C4 is a very very very good strategy to scalp.
Hi Chris,
I'm glad that you are looking at this - not a bad idea of mine - even if I say so myself .

Thanks a lot Justme for coding it for MT4 - it's looking good

Don't forget that this indi will use the same time frame of your chart (M5 in your last posting) so the blocks may look different to the 'normal' Renko being used. Justme, please correct me if I'm wrong.

On your last chart I notice (towards the left) two pullbacks (red blocks) in an up trend - I would think very good long opportunities when turning back to blue. Also the double (2 blue blocks) top followed by a downward move. Nice

These things are made much more obvious by the Renko overlay, don't you think?

Cheers,
John.
  • #120
  • Aug 29, 2009 4:17am Aug 29, 2009 4:17am
Quoting johny pip
These things are made much more obvious by the Renko overlay, don't you think?

Cheers,
John.
Yes...maybe those who are watching for swing trading can take advantage of this...
Market is like a puzzle, YOU have to fit the pieces!!
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