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NITRO Scalping for serious traders

  • #521
  • Sep 11, 2009 6:54am Sep 11, 2009 6:54am
The signs are all for a short, but I wouldn't get in the trade untill PA moves beyond that double bottom.

We'll see what happens
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  • #522
  • Sep 11, 2009 6:58am Sep 11, 2009 6:58am
Quoting mandel
The signs are all for a short, but I wouldn't get in the trade untill PA moves beyond that double bottom.

We'll see what happens
Agree,no clarity at all so far.
******************* I'd rather make money than be right.
  • #523
  • Sep 11, 2009 7:18am Sep 11, 2009 7:18am
Waited for them all to line up, fortunately allowed a little retace before taking the eur/jpy trade (otherwise we might have been stopped out then DOWN she goes. +7. Can I go to bed now?
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  • #524
  • Sep 11, 2009 7:37am Sep 11, 2009 7:37am
Quoting DaveW
Waited for them all to line up, fortunately allowed a little retace before taking the eur/jpy trade (otherwise we might have been stopped out then DOWN she goes. +7. Can I go to bed now?
LOL, I just got +5 from the EY retrace upwards .. shows what an indecisive market we have today. Yawn.
******************* I'd rather make money than be right.
  • #525
  • Sep 11, 2009 8:20am Sep 11, 2009 8:20am
Good day after all, took a short on EY when the HMA turned down after the retrace & she dropped like a rock ... got +18. Total +23, that is fine for a dead Friday

Have a good weekend!
******************* I'd rather make money than be right.
  • #526
  • Sep 11, 2009 8:30am Sep 11, 2009 8:30am
It certainly dropped! Retracement is coming.
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  • #527
  • Sep 11, 2009 9:35am Sep 11, 2009 9:35am
Been away learning to trade on PA etc.

4xStar thanks for saving all the info you had on Nitro, & starting this thread.

Is it possible to use Renko charts in MT4 strategy tester?

Will read the thread this weekend & hopefully be posting some nitro charts & trades next week.

Have a good one........
45
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  • #528
  • Sep 11, 2009 9:48am Sep 11, 2009 9:48am
Quoting don_choa
Hi Zack,
It really seems you have a different and working Fish indi because like mentioned earlier, the one I have also repaints badly and is late to change its mind when it's in the wrong direction. Doomed to fail with the one I have, using the settings in earlier posts.
Could you please post yours so we can have a test at it?
Many thanks in advance.
sure thing...

here you go.

The attached one is what I use. YES, I know, it repaints hardly, BUT... if you still interested. Put this on your chart, and watch. Don't do anything, just watch.

You won't be disappointed. My screenhours with this indicator is approx 60 or more... till I could decide, what is important.

Have a great weekend guys.
Attached File(s)
File Type: mq4 FX_FISH_2MA.mq4   5 KB | 781 downloads
  • #529
  • Sep 11, 2009 10:01am Sep 11, 2009 10:01am
Hi, we'll look forward to your trades next week. I don't know if renko can be used with MT4 strategy, I never use that. Maybe some others on the thread have had experience with it.

Quoting 45Fxguy
Been away learning to trade on PA etc.

4xStar thanks for saving all the info you had on Nitro, & starting this thread.

Is it possible to use Renko charts in MT4 strategy tester?

Will read the thread this weekend & hopefully be posting some nitro charts & trades next week.

Have a good one........
45
******************* I'd rather make money than be right.
  • #530
  • Sep 11, 2009 10:26am Sep 11, 2009 10:26am
You just can't use them alone... they can be great, some of the best indicators ever made people claim are repainting, more like
live actual data that updates, but regardless.. you just can't
use them alone. You have to have solid confirmation from
non mtf non repainting sources, ie price action, ma/lwma color
change, stoch, macd, rsi.. etc etc etc

Here is the snakeforce multimeter I use, I personally
love it for trend confirmation per don c's question
earlier. I use the new mtf snakeforce on my
regular charts as well (not renko for that one) very nice.

Brian

Snake MM
http://kreslik.com/forums/viewtopic....rce+mutlimeter
  • #531
  • Sep 11, 2009 12:09pm Sep 11, 2009 12:09pm
Snakeforce repaints up to 4 bars.
  • #532
  • Sep 11, 2009 12:29pm Sep 11, 2009 12:29pm
Quoting golden1
You just can't use them alone... they can be great, some of the best indicators ever made people claim are repainting, more like
live actual data that updates, but regardless.. you just can't
use them alone. You have to have solid confirmation from
non mtf non repainting sources, ie price action, ma/lwma color
change, stoch, macd, rsi.. etc etc etc

Here is the snakeforce multimeter I use, I personally
love it for trend confirmation per don c's question
earlier. I use the new mtf snakeforce on my
regular charts as well (not renko for that one)...

Thanks Brian for the indi!

personally, I don't care what happened some time ago, rather than what is happening RIGHTNOW! I think, you also feel the difference --> this is why you also use an indi which is "repainting".

Regards,

GrZack
  • #533
  • Sep 11, 2009 12:41pm Sep 11, 2009 12:41pm
Quoting 4xStar
There may be a brand new free version that works,but as of a couple of weeks ago the free version did not work as it did not use tick data.
HI 4Xstar... or infact any of the other commercial renko users, is the attached chart a fair reflection of the current ej 5 pip chart? (upto 8.30 gmt approx)

Thanks in advance

Dr.S
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  • #534
  • Sep 11, 2009 1:25pm Sep 11, 2009 1:25pm
Your chart is OK.
Are you also using the original 10 pips chart?

Quoting Dr.Scalpall
HI 4Xstar... or infact any of the other commercial renko users, is the attached chart a fair reflection of the current ej 5 pip chart? (upto 8.30 gmt approx)

Thanks in advance

Dr.S
  • #535
  • Sep 11, 2009 2:07pm Sep 11, 2009 2:07pm
Quoting mandel
Your chart is OK.
Are you also using the original 10 pips chart?
Mandel, No is the answer, I posted a 5pip chart because i think a number of people have moved down to that size brick and was just curious whether the free renko measured up to the comercial one after what 4X said. to trade live I have my charts set at the size of my brokers spread ie: 3pip EJ, 2 pip EU etc. just so its clear for me that if I get a signal I know that i only have to get one brick movement before i am into profit. I also don't get that sudden price surge aginst me that so many people have talked about when trading 10 pip blocks and believe me when I was using 10 pips I thought I was jinxed when it kept happening!!.

Hope this helps & happy trading.

Doc.
  • #536
  • Sep 11, 2009 3:18pm Sep 11, 2009 3:18pm
45FXguy
Thats a neat presentation of all of the JPY pairs on one chart. Do you find this helps in seeing correlation in real time? Certainly appears to do so as shown. How did you do that? Might be nice to cram a small window on the screen somewhere to keep an eye on the overall action.

I have been watching Fish for a few days and I like it but I don't think it could be used in back testing. I am also reluctant to add back wriggly lines having worked so hard to minimise the chart spaghetti!!

Regards Karl
(PS - 4xStar - "you da man" - pity remarks like that pill made even make it to print but you did the right thing quickly and decisively - well done!).
  • #537
  • Edited 4:55am Sep 13, 2009 2:41am | Edited 4:55am
Quoting GrZack
sure thing...

here you go.

The attached one is what I use. YES, I know, it repaints hardly, BUT... if you still interested. Put this on your chart, and watch. Don't do anything, just watch.

You won't be disappointed. My screenhours with this indicator is approx 60 or more... till I could decide, what is important.

Have a great weekend guys.
Thank you very much.
I have overwritten the one I had with yours ( the size was different so I guess they are indeed different).
I'll give it a try.
Cheers
  • #538
  • Edited 12:47pm Sep 13, 2009 8:42am | Edited 12:47pm
Quoting scartree
45FXguy
Thats a neat presentation of all of the JPY pairs on one chart. Do you find this helps in seeing correlation in real time? Certainly appears to do so as shown. How did you do that? Might be nice to cram a small window on the screen somewhere to keep an eye on the overall action.

I have been watching Fish for a few days and I like it but I don't think it could be used in back testing. I am also reluctant to add back wriggly lines having worked so hard to minimise the chart spaghetti!!

Regards...
I learned that little trick from the CatPreacher.

Here's some instructions in this post on how to do it, if it isn't enough let me know.

http://www.forexfactory.com/showpost...5&postcount=60

I haven't used it all that much yet since I just learned how to do it myself.
Looks like it should be very a handy tool with this method especially if your like me & have trouble fitting 4 charts into a MT4 screen & still still have room to see what's going on.

I see Cat made a typo, here's the correct spelling: http://www.dailyfx.com/

Power charts are the one you want to use, you'll need java installed in your browser to use it.
The charts are live & free.

If you hit the thumbtack icon top right, it will pop out of your web browser, & the window is resize able, just grab a corner & drag it.

Here's a sample chart, sorry not a renko one yet.

You can even save the workspace too, so you don't have to set up every time.

fyi: 4xstar is, "da Woman!", not da man. lol, think I read someplace woman are actually better traders, think it has something to do with woman's intuition. Too bad I can't get my wife interested in fx yet.

In her profile....
Mom of 4 stupendous (now grown) kids and 2 adorable grandchildren. Lived 22+ years in Europe, 8 months in Japan, speak several languages. Love gourmet cooking, wine, and hanging out with family.
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  • #539
  • Sep 13, 2009 4:40pm Sep 13, 2009 4:40pm
Good morning. Would someone be able to please share the setting for the fish 2ma indy recently posted. I'm watching it in its default settings. Not game to blindly play with settings so as to not mess with its performance. And if poss a quick explaination of the lines. ta.
Regards,
D.
where thought goes energy flows
  • #540
  • Sep 13, 2009 6:59pm Sep 13, 2009 6:59pm
Re those fxdaily java charts mentioned above, that may turn out to be a useful tool, I'm going to try it. However when setting up the chart you have to select 'relative to' if you want to see more than 2 currency comparisons. Choosing 'overlay' you can only compare 2. Also I noticed the chart resets itself after a certain amount of time .. or maybe if it is not 'active', so has to be re-setup.

With respect to the repainting FX Fish indy, I will try it as well this week. However.. remember ... to stay true to the spirit of this thread, we should not be introducing new indys unless they have been thoroughly forward-tested.
******************* I'd rather make money than be right.
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