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I agree with asdf fully (but that belongs to the other thread)


Quoting walb99
If somebody is posting something like this:

"Last piece of indicator advice.
The preference would be to lose them altogether, because then it is easy to follow price and only price without distractions--which is a great way to learn for those just starting out. It is evident, though, that many still want to use them."

It's clear for me that this person is out of control.
Here is the latest update of the indy posted earlier. Some bugs were found and have been fixed. Please replace the old file with the new one.

You know what they say... the last bug found in the software is 'next to last'.
Attached File(s)
File Type: ex4 Renko_v1.ex4   5 KB | 713 downloads
Wherever you look, there's something to be seen
I agree with asdf. Renko is it's own indicator.
Also IMHO asdf's posts belong here.

Cheers,
John.
asdf, you sound much like Edgetrader. i see you've only been a member of FF for a short time, and were a futures trader before this. I've traded futures myself, and can't say that there's much similarity between futures and forex, at least when it comes to the use of indicators. Just curious as to what qualifies you to be giving advice with such a short time at forex?
Quoting asdf
Last piece of indicator advice.

The preference would be to lose them altogether, because then it is easy to follow price and only price without distractions--which is a great way to learn for those just starting out. It is evident, though, that many still want to use them. I hope this will add some perspective.

If your plan is to get to the point where you can trade for a living, then your charts will literally become the tools of your profession. With that in mind, the faster you become proficient at using your tools, the faster you can trade...
Quoting paradoxical
asdf, you sound much like Edgetrader. i see you've only been a member of FF for a short time, and were a futures trader before this. I've traded futures myself, and can't say that there's much similarity between futures and forex, at least when it comes to the use of indicators. Just curious as to what qualifies you to be giving advice with such a short time at forex?
Edgeanoia aka Edgeaphobia!
Lets move on ...shall we!
The Only Constant Is Change!
Quoting johny pip

Personally, I can loose my money very well on my own and I don't need anyone else to do it for me!! At least then, at the end of the day, I can only blame myself.

Cheers,
John.
We have to work on changing your strategy.
4XTrader2
Quoting paradoxical
asdf, you sound much like Edgetrader. i see you've only been a member of FF for a short time, and were a futures trader before this. I've traded futures myself, and can't say that there's much similarity between futures and forex, at least when it comes to the use of indicators. Just curious as to what qualifies you to be giving advice with such a short time at forex?
AS a learning lurker, I am slowly grasping this approach, but I still value the contributions to the thread from all sources. As a community of anonymous contributors, I am beginning to take exception to this kind of post quoted above. Not only does it make reading the thread a drag, but it puts a small band of self righteous posters in charge, rather than the discussion of the topic at hand. I would really appreciate posts being on topic and focused on trading. ASDF and others are stating opinions relating to methods of trading. If you have a differing opinion about TRADING, bring it on. I would hope we all stick to that.

s
The following is a simple alternate setup that helps me see price action. While I add a panel of oscillators below for my own confirmation, it's really only that....the price action on the chart is enough.

The setup on the chart is as follows:

 

  1. 3 pip Renko Chart, with the Renko v1 indie behind at 8 pips.
  2. The Heiken Ashi V indicator (for visual support of the direction) overlayed with a smoothed 5MA, shifted 2 candles, in bold yellow, and a smoothed 2MA, shifted 2 candles, in a dotted white line.
  3. I have 2 zigzags at different cycle lengths to give me a heads up only...They are not signals to themselves, as they repaint, and while not necessary, I see them as warning flags of potential reversal areas.
  4. I also have a 20 period Bollinger Band with both a 1 std deviation and a 2 std deviation line. These BBands give me exit and entry areas to watch for - the zone outside the 1 std deviation is my entry/exit zone in ranging or consolidating markets. If you read up on Bollinger bands, you'll lots of ways to use them with this setup.
  5. Behind all of this you will see the dark blue blocks of color. This happens to be the hourly hi/lo, giving the chart a sense of time and price movement. Unnecessary for scalping, but helpful to me to see the larger market move.

That's it. The Trade Setup Example image details my entry and exit. I'll include the important indies and a template for those interested in reviewing or commenting on it (the Renko v1 can be found on this thread.). I see lots of ways to trade this so maybe it will be helpful to you.

Best,

s

Attached Image(s) (click to enlarge)
Click to Enlarge Name: TS Price Action Example.png Size: 41 KB
Click to Enlarge Name: TS Sample Trade Setup.png Size: 71 KB
Attached File(s)
File Type: tpl tstemplate.tpl   414 KB | 665 downloads
File Type: mq4 Heiken Ashi V.mq4   4 KB | 625 downloads
File Type: ex4 PriceChannelZigZag_Alerts_v3.ex4   21 KB | 672 downloads
File Type: ex4 Market Profiles_v2.ex4   14 KB | 608 downloads
Quoting asdf
Last piece of indicator advice.

The preference would be to lose them altogether, because then it is easy to follow price and only price without distractions--which is a great way to learn for those just starting out. It is evident, though, that many still want to use them. I hope this will add some perspective.

If your plan is to get to the point where you can trade for a living, then your charts will literally become the tools of your profession. With that in mind, the faster you become proficient at using your tools, the faster you can trade...
LOL, he's back.
Quoting golden1
I just wanted to post my setup. I am using the 5 pip renko
and made the important adjustment that MOM6 works
better for me and must cross my filter level after the
signal bar. I get the trix signal, then watch MOM 6 cross
the filter level, and just check my trend indicators
before entering. Very good start so far and will be
using this setup all week

Brian
hi golden01, do u mind to share your indicator here? thank alot.
Quoting Thirdsector
The following is a simple alternate setup that helps me see price action. While I add a panel of oscillators below for my own confirmation, it's really only that....the price action on the chart is enough.

The setup on the chart is as follows:

[list][*]3 pip Renko Chart, with the Renko v1 indie behind at 8 pips.[*]The Heiken Ashi V indicator (for visual support of the direction) overlayed with a smoothed 5MA, shifted 2 candles, in bold yellow, and a smoothed 2MA, shifted 2 candles, in a dotted white line.[*]I have 2 zigzags at different...
Can you give us an idea of what percentage of successful trades vs. losing trades your indicator setup gives. Have you tested it over a hundred or more trades? Thanks,
4XTrader2
Quoting asdf
Last piece of indicator advice.

The preference would be to lose them altogether, because then it is easy to follow price and only price without distractions--which is a great way to learn for those just starting out....
Interesting....
Quoting Pips Queak
Interesting....
Very interesting
Yes indeed.....
Quoting billbss
I think Edgetrader lives yet again.
I may be wrong.
I don't think you're wrong.

Twee has been notified.
http://kreslik.com/forums/viewtopic....ake+multimeter

And the ones below I believe are the only ones not posted
in the c4 thread.

Brian


Quoting tidus2lim
hi golden01, do u mind to share your indicator here? thank alot.
Attached File(s)
File Type: mq4 SSL_fast_sBar_alert_mtf.mq4   5 KB | 451 downloads
File Type: mq4 FX_Sniper's_Ergodic_CCI_Trigger.mq4   4 KB | 469 downloads
File Type: mq4 All_QQE v1.0.mq4   11 KB | 474 downloads
File Type: mq4 MOM-TC_v2m.mq4   6 KB | 509 downloads
File Type: ex4 #Signal_Bars_v8D.ex4   39 KB | 495 downloads
Quoting 4xtrader2
Can you give us an idea of what percentage of successful trades vs. losing trades your indicator setup gives. Have you tested it over a hundred or more trades? Thanks,
I did 7 out of 9 trades last Thursday, but that's hardly a thorough test. Since I've been mucking around with my entry and exit rules, I have little substantial record of this particular setup yet. I'll do a forward test this week and report as I can. Thanks for keeping me honest.....lol. I simply got excited to share my latest refinements, as I feel that the three threads have really helped me a lot.

Best,

s
Quoting Pips Queak
I don't think you're wrong.

Twee has been notified.
Please do notify the administrators. The quicker we can get the focus back on trading, the better. Nothing like being the subject of baseless allegations.
Please keep accusations off this thread.

As far as I can see asdf, whoever you are, you are providing useful information to everyone here. Thank you for that!
Quoting golden1
http://kreslik.com/forums/viewtopic....ake+multimeter

And the ones below I believe are the only ones not posted
in the c4 thread.

Brian
thank alot for sharing your interesting indicator.
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