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Trading Renko

  • #321
  • Oct 19, 2009 6:50am Oct 19, 2009 6:50am
got out for +22 on this one..
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  • #322
  • Oct 19, 2009 6:53am Oct 19, 2009 6:53am
Scartree,

thanks for the indis.

I'm also using the commmercial renko but it doesn't influence the MACD plot. Rebel's have definitely something funny about it

Quoting scartree
I am using the commercial Renko charts - I wonder if it makes a difference to the MACD plot. I note that the last post was also different to mine although I am using the template posted by xBweNx.

I have attached the RSI alert files I am going to try together with the MA color indi I use. Any feedback would be appreciated. These indis came from the FF forum - somewhere??

KarlAttachment

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  • #323
  • Oct 19, 2009 7:01am Oct 19, 2009 7:01am
I also have it in a small window... what does this look like guys..
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  • #324
  • Oct 19, 2009 7:15am Oct 19, 2009 7:15am
Both of the RSI indis look interesting but the RSI-8_CROSS_Sound shows arrows when the crosses occur. It also has sound but I have not yet experienced a cross to know what to expect! I shall wait and see.

The other indi opens a new panel and plots the RSI. I think there was a thread Trend Catcher somewhere and this indi came from that thread. Perhaps a Google might throw more light on it. I will stick to thefirst one for now and see if it dos what we want.

Both will need to be changed to 10 period from present default values.

Karl
  • #325
  • Oct 19, 2009 7:22am Oct 19, 2009 7:22am
Rebel - that looks more like my plot - the RSI/White line relationship is still a bit different to mine.

I am going to open RSI in its own panel as it is less congested that way. I think the important thing is the MACD white line to the histogram which is checked once the RSI crosses the 55 or the 45 lines. I cannot see any reason why they should be in the same panel. Perhaps xBweNx might comment on this.

Karl
  • #326
  • Oct 19, 2009 7:29am Oct 19, 2009 7:29am
I just had a thought - perhaps we could delete the RSI plot and the 55/45 lines completely - relying only on the arrows and alerts from the indi I posted. It would simplify the chart but I guess the likely movement of the RSI would not be seen.
Karl
  • #327
  • Oct 19, 2009 7:40am Oct 19, 2009 7:40am
Quoting scartree
Rebel - that looks more like my plot - the RSI/White line relationship is still a bit different to mine.

I am going to open RSI in its own panel as it is less congested that way. I think the important thing is the MACD white line to the histogram which is checked once the RSI crosses the 55 or the 45 lines. I cannot see any reason why they should be in the same panel. Perhaps xBweNx might comment on this.

Karl
The RSI looks pretty similar
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  • #328
  • Oct 19, 2009 7:42am Oct 19, 2009 7:42am
Quoting scartree
I just had a thought - perhaps we could delete the RSI plot and the 55/45 lines completely - relying only on the arrows and alerts from the indi I posted. It would simplify the chart but I guess the likely movement of the RSI would not be seen.
Karl
No way.

I'd rather see the movement of the RSI to determine movements against the trend (very much like a momentum indi), and use the channel to determine ranging periods (although you could also do that using naked renko bars and reading the PA)
  • #329
  • Oct 19, 2009 7:51am Oct 19, 2009 7:51am
Alright!
13 pips up to the pivot line.
It seems to be retracing now after touching the previous high, we'll see what happens.
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  • #330
  • Oct 19, 2009 9:29am Oct 19, 2009 9:29am
Your probably already using it, check ea's name not the one you see on the chart.
Don't think there is a Trading Sim that works on renko charts for mt4 yet, if there is I'd like to know about it too.
I think there is away to force ticks into offline back test charts but I'm afraid to try it as mt4 gives me enough trouble as is. Besides we have almost 24/6 to forward test on renko charts that should be enough for most of us.

Quoting wieb
Where I could find and download LFH Trading Sim 3?

I still use LFH Trading Sim 2.0, it is a great tool to manually test trading stategy.


Could anyone please tell me, how to use RenkoLiveChart_v3.2.mq4 EA on LFH Trading Sim?

I tried to attach RenkoLiveChart_v3.2 EA on LFH Trading Sim M1 chart but the M2 offline chart doesn't update.

Please if anyone know how to displaying Renko chart on LFH Trading Sim.
  • #331
  • Oct 19, 2009 9:44am Oct 19, 2009 9:44am
Quoting xBweNx
once the market open i will post the charts in an update on this post

first is with
second without

xBweNx,
Did you decide to start using renko with wicks on, & if so why again?
Was looking over some of your screen shots, I see ebpusd, eurgbp, eurusd, & eurjpy. Are these the ones you trade most with it, & do you have a favorite time of day to trade any or each? Do you ever use correlation in your trading strategy at all?
Do you ever use the rsi cross of the macd ma line as an early entry or exit signal etc?
Thanks for your help.
Really appreciate your contributions to this thread.
  • #332
  • Oct 19, 2009 9:58am Oct 19, 2009 9:58am
Quoting Nagpada
What is the advantage of the EA ( which does not draw charts over the weekend ) over the indicator ( which draws charts over the weekend and thus enables one to conduct trade analysis during down time ).

Could you possiably add switchable wicks to the V 2.x indicator.

Thank you for your effort and replies.
If you plan for the weekend (leave the EA running until market closes on Friday) you can analyze to your heart's content - the offline charts will still be there and no new bars will be added until Monday.

There are other advantages to the EA - see LastViking's post re: what has been added to LRC 3.2.

No. sorry - I'm not going to add wicks to the indi. As far as I'm concerned version 2.x has been deprecated at this point.
Old Benjamin was right
  • #333
  • Oct 19, 2009 10:38am Oct 19, 2009 10:38am
Quoting 45Fxguy
xBweNx,
Did you decide to start using renko with wicks on, & if so why again?
Was looking over some of your screen shots, I see ebpusd, eurgbp, eurusd, & eurjpy. Are these the ones you trade most with it, & do you have a favorite time of day to trade any or each? Do you ever use correlation in your trading strategy at all?
Do you ever use the rsi cross of the macd ma line as an early entry or exit signal etc?
Thanks for your help.
Really appreciate your contributions to this thread.
i enable wick cause it gave an early sign of exit and not early entry. also it looked to have better PA with HA. It seem to work better in the visual. I only trade though 4 pair because i just have 1 22in monitor and 19in. I leave 4 pair on my 22in because i can see all four at once while i play games on other screen. If i had couple more screens i would trade more pairs. As far as time goes i like to open of the Asian to about close of london though i have seen good trade after.

I dont use any correlation between pair. it messes with your head. Just last week or so i had buy on GU and sell on EU each got 50pips or could be other way around.

I find that if the wick has top and bottom or it changes color to be better exit because it happens earlier than the crossing of RSI n MACD
  • #334
  • Oct 19, 2009 10:40am Oct 19, 2009 10:40am
Kicking myself that I did'nt take this re entry.. It was valid RIGHT xb..?
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  • #335
  • Oct 19, 2009 10:45am Oct 19, 2009 10:45am
Hey Lou G,

do you have to reset your EA at all after week or so? or should you be fine every time you restart MT4?

here is the a trade i took last night. went 8-3 last night. EUR/JPY and 2 on GU for neg trades. came out way above though
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  • #336
  • Oct 19, 2009 10:48am Oct 19, 2009 10:48am
Quoting rebelheart
Kicking myself that I did'nt take this re entry.. It was valid RIGHT xb..?
good sign of reentry trust the indicator. i would have wait for the next bar though as i did with my trade. the wins heavily out ways the lose. you will get them next time


Looks like people getting interesting in the system. Hopefully it is doing wonders for you guys!
  • #337
  • Oct 19, 2009 11:13am Oct 19, 2009 11:13am
Quoting 45Fxguy
Your probably already using it, check ea's name not the one you see on the chart.
Don't think there is a Trading Sim that works on renko charts for mt4 yet, if there is I'd like to know about it too.
I think there is away to force ticks into offline back test charts but I'm afraid to try it as mt4 gives me enough trouble as is. Besides we have almost 24/6 to forward test on renko charts that should be enough for most of us.

Thank you for the replied 45Fxguy


I realize that I am using LFH Trading Sim 3 based on EA's name although on the chart still written v2.0

I know we have a market which open 24/6 but I am still looking a way to displaying Renko chart on LFH Trading Sim.

LFH Trading Sim is great tool to review and backtest trading strategy over the weekend when I have nothing to do.


If anyone know how to displaying Renko chart on LFH Trading Sim,
please share with us
  • #338
  • Oct 19, 2009 11:31am Oct 19, 2009 11:31am
A little off topic, so thought I'd pm you but you have your pm turned off.
What games do you like play while you trade?
You also mentioned your in school, are you getting a degree in something IT related?

I got busy with family stuff this weekend but have a universal cross ea I like to try & optimize on the weekends, I found LWMA 12 crossing EMA 52 a pretty good signal on 1 hr usdjpy, & 15 min eurusd charts.
Your rsi signals usually agrees at those crossing points too.
I haven't tried running the ea on renko charts with these settings yet since I was busy this morning, had some kids out of school today.
Later,
45
PS:
I like chess but don't usually play while I'm trading, at least not yet .
  • #339
  • Oct 19, 2009 11:31am Oct 19, 2009 11:31am
Quoting scartree
Rebel - that looks more like my plot - the RSI/White line relationship is still a bit different to mine.

I am going to open RSI in its own panel as it is less congested that way. I think the important thing is the MACD white line to the histogram which is checked once the RSI crosses the 55 or the 45 lines. I cannot see any reason why they should be in the same panel. Perhaps xBweNx might comment on this.

Karl
i put them in the same panel because i like to see all 4 charts at once and it takes up more room if they in 2 panel. you can put them in 2 different windows if it makes it easier
  • #340
  • Oct 19, 2009 11:43am Oct 19, 2009 11:43am
Quoting 45Fxguy
A little off topic, so thought I'd pm...
hmm didnt know that but i changed it now so i can get PM. Im getting minor in business and BS (bachelor of science) in economic. i dont think my degree helped me any with forex. I just like subject matter sort of....

but i play all types of games. Starcraft, Counterstrike, Word of Warcraft, Watcraft3, got the xbox 360 live next to me also lol. free online site always fun too
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