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Justme.

Any reason you are using a M10 offline chart for your Renko. Everyone else seems to be using the M2 offline chart and do not seem to have problems with the wicks.

Just a thought.

Dave W
Quoting justme
Regardless of what kind of data is being used for calculation, all wicks are shifted to the right, thus belong to a 'wrong' bricks. May be this issue is related to limitations of MT4... may be not... And may be Michal could make it clear?

Attachment
The high for the red brick is correct. It needed to reach 133.90 before it could be formed as a blue brick. Not only did it not reach 133.90, it retraced over 28 pips to form the red brick. It then reversed over 20 pips to form the next blue brick.
Quoting DaveW
Justme.

Any reason you are using a M10 offline chart for your Renko. Everyone else seems to be using the M2 offline chart and do not seem to have problems with the wicks.

Just a thought.

Dave W
It really doesn't matter. M2, M10, M33 or what else... All the difference is the file name and that's all. I'm comfortable with M10 for 10-tick boxes, may create M2 with 2 pips range. Just a habit
Wherever you look, there's something to be seen
Quoting fxtrader2k7
The high for the red brick is correct. It needed to reach 133.90 before it could be formed as a blue brick. Not only did it not reach 133.90, it retraced over 28 pips to form the red brick. It then reversed over 20 pips to form the next blue brick.
You're right. But that high has been reached while previous blue box was still in place - that's what I meant.
Wherever you look, there's something to be seen
Quoting justme
You're right. But that high has been reached while previous blue box was still in place - that's what I meant.
I see the problem. On the renko chart on the left, notice that the brick only have the tails in one direction, with the exception of the current forming brick. Blue bricks only have tails pointing down and red brick have tails pointing up. The reason for this is because once the high limit of a blue brick is reached a new brick to the left is started. Any price movement above that would be shown on that brick. If you look at your chart on the right side, that brick would have been formed on the first bar in your corresponding blue box. The 133.88 high was achieved 2 bars later, which became the tail of the red brick. It is your renko overlay indicator that is incorrect; and the problem seems to occur in the reversal bricks only.
Quoting justme
Regardless of what kind of data is being used for calculation, all wicks are shifted to the right, thus belong to a 'wrong' bricks. May be this issue is related to limitations of MT4... may be not... And may be Michal could make it clear?

Attachment
Hi Justme,
No the wicks are on the correct bricks! Remember that for an up brick, there can only be a down wick; for a down brick there can only be an up wick.
The wicks were formed after the bricks in all the cases you show You just have the coloured blocks on your non-Renko chart in the wrong places.

Ian

Edit: I see that this has already been explained.
Maybe some of you are under the illusion that the wicks have something to do with brick formation. They do not!

The bricks are formed (or not) by the single closing price of the candle (i.e. M1, M2, M5 or whatever) at the time interval you are using. If tic data is being used the brick should still only be formed on the single tick on the time interval boundary. The wicks should be calculated from the high and low price that occurred during the period that the brick was valid, if you get me.

This means that the wicks for renko can only be calculated after the brick is closed which is at the same tick as the next brick is formed. Maybe this is where the confusion is.

JustMe, you do not need to do anything with the wicks as the candles show that info.

It's quite simple really.

Cheers,
John.
Quoting ianf0ster
Hi Justme,
No the wicks are on the correct bricks! Remember that for an up brick, there can only be a down wick; for a down brick there can only be an up wick.
The wicks were formed after the bricks in all the cases you show You just have the coloured blocks on your non-Renko chart in the wrong places.

Ian

Edit: I see that this has already been explained.
Every block on the non-Renko (as well as on the renko) chart is formed as soon as conditions are met – price range exceeds by a BoxSize (or is equal to it) current block’s high or low. And those blocks are formed in real-time. While conditions aren’t met the current block is ‘active’. It’s a classic approach. If you compare blocks formed by the script and those formed by the indy you can notice they are identical. The only difference lies in the corresponding highs and lows. Taking into account that ‘renko with wicks’ is rather exotic, I think it’s hard to decide what is ‘right’ and what is ‘wrong’ here. Let’s leave it as it is.

Below is commercial renko chart with the indicator on it, both set to 10 pips range.

p.s. please excuse me my 'ukrainian english’

Attached Image (click to enlarge)
Click to Enlarge Name: renko 10p.gif Size: 15 KB
Wherever you look, there's something to be seen
After yesterday's lousy price action and today price action being poor up until news, I found myself "forcing" trades instead of watching the signals. Thus, an otherwise profitable day was a break even. Once I settled down and traded the signals and the price action, I did OK but as you can see I made one EJ trade that killed my profit for the day (didn't set a stop loss).

Images are at: http://www.forexfactory.com/showpost...&postcount=284

Discipline, discipline, discipline! Without it profits are like the wind.
4XTrader2
Quoting bali2002
So finally momentum went down, created a triple top and after a retacement there were some pips to be made!

It's a freaking patience game
--------------------------------------------------
Could you please upload your Clovis indicator to check whether it's less lagging thank the MOM TC.
Many thanks in advance.
Hi folks!

Today i've opened my mind a lot...

Mixing Nitro with the thread named "The System II" here on FF...

To be honest...i'm watching if the strategy works better with renko or 5M... i can't decide for now...

Have traded the breakouts of major swings and supports...with a SL of 20, TP of 21 and instant trailing...results for the day +55 pips

EDIT: sorry... Renko bricks here are 5pips and i've used them as a "focus" relative to 5M charts
Attached Image (click to enlarge)
Click to Enlarge Name: nitrothesystem.gif Size: 65 KB
Market is like a puzzle, YOU have to fit the pieces!!
Are you into 1-2-3?
Are you keen on indis?


Quoting Chris_B
Hi folks!

Today i've opened my mind a lot...

Mixing Nitro with the thread named "The System II" here on FF...

To be honest...i'm watching if the strategy works better with renko or 5M... i can't decide for now...

Have traded the breakouts of major swings and supports...with a SL of 20, TP of 21 and instant trailing...results for the day +55 pips

EDIT: sorry... Renko bricks here are 5pips and i've used them as a "focus" relative to 5M charts
Attached File(s)
File Type: mq4 1-2-3 Pattern MTF v3.1.mq4   22 KB | 569 downloads
File Type: ex4 1-2-3-Indicator.ex4   12 KB | 549 downloads
Quoting bali2002
Are you into 1-2-3?
Are you keen on indis?
Hi Bali,
I really like your approach, and I would like to try it, can you possible post a template or more info on how to setup and read the "1-2-3 Patern MTF v3.1" indicator.

Thanks
Does it repaint like the level 3 semifor?
Quoting bali2002
Are you into 1-2-3?
Are you keen on indis?
You just drop it in your chart, it locates 123 formations and draws fibonacci expansions for in-out positions.
I haven't tried it with renko blocks though.

Quoting zxpips
Hi Bali,
I really like your approach, and I would like to try it, can you possible post a template or more info on how to setup and read the "1-2-3 Patern MTF v3.1" indicator.

Thanks
Hello Bali2002,
I am not yet allowed to PM you.
So this is my only way to get in touch with you.
Could you please post the Clovis indicator, it seems more accurate than the MOM TC.
Many thanks in advance.

Best
Quoting don_choa
Hello Bali2002,
I am not yet allowed to PM you.
So this is my only way to get in touch with you.
Could you please post the Clovis indicator, it seems more accurate than the MOM TC.
Many thanks in advance.

Best

I'm not shure it's ok for me to post it, since I got it from another site and I am not the owner.
But you can Google it and will find it.

It is indeed more accurate and faster than the mom indi
Bali2002, i can't find the clovis on google. Could you post the site you gor it from? Thanks
dude can you at least tell us the site that you got it from, I've googling "Clovis indicator", and any variation of the term with the word forex, and mt4 nothing comes up, as a matter of fact, the only reference is back to this FF posting.
Google: clovis_rubberband and you'll find it.

Quoting zxpips
dude can you at least tell us the site that you got it from, I've googling "Clovis indicator", and any variation of the term with the word forex, and mt4 nothing comes up, as a matter of fact, the only reference is back to this FF posting.
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