Trading Renko | Page 18 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Price action trading with RENKO 190 replies

RENKO Trading SYSTEM - RENKO Indicators 7 replies

New Renko Bar and Reversal Renko Bar Indicator Alert Help Please 5 replies

Renko charts in the trading simulator 9 replies

Renko Trading Journal 28 replies

Attachments: Trading Renko
Exit Attachments

Trading Renko

  • #341
  • Oct 19, 2009 11:46am Oct 19, 2009 11:46am
Quoting xBweNx
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?
Mine (LRC 3.2) has been fine - have not had to restart. Once in a while (if restarting mt4 at a slow time) you may have to wait a bit for that first tick to arrive but the offline chart always catches up as soon as that tick is posted.
Old Benjamin was right
  • #342
  • Oct 19, 2009 12:35pm Oct 19, 2009 12:35pm
Thanks for taking the trouble to post the 2 charts. Eye balling the 2 I feel that tradewise there would not be much of a difference. So I will stick to the indicator V 2.2. It offers far greater flexability and is less restrictive for what I do.

EA's, other than trading EA's, don't seem to make much sense to me mainly because of the inherent drawback. Thank you for taking the time and effort. Now on to trading.

Oh, one more thing. You mother is right. Trading will always be there. Get that PhD 1st. and let profits from long term trades ( 10 hrs. up ) pay for it.
  • #343
  • Oct 19, 2009 1:48pm Oct 19, 2009 1:48pm
Quoting Lou G
version 2.x has been deprecated at this point.
Definition: condemn something or somebody: to express condemnation of something or somebody

That's funny.
  • #344
  • Oct 19, 2009 2:45pm Oct 19, 2009 2:45pm
Quoting xBweNx
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
hahh xBweNx i play Starcraft 10 years Terans rules
"Buy on fear, sell on greed !!!
  • #345
  • Oct 19, 2009 3:51pm Oct 19, 2009 3:51pm
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

Attachment

Attachment
hi scartree,
Yeah thanks for posting RSiTrendCatcher looks promising.
I have it set to 8, 60, & 50 in this screen shots looks like it may help catch & keep you in some pretty big trends.
Attached Image (click to enlarge)
Click to Enlarge Name: a fractal zig zag2 ea pic 45.gif Size: 41 KB
  • #346
  • Oct 19, 2009 4:38pm Oct 19, 2009 4:38pm
45FXGuy
I also think the RSI TrendCatcher has promise. There are a bunch of dots shown on the charts which I have been unable to explain. Do you have any idea what they are or what they do?
Karl
  • #347
  • Oct 19, 2009 4:41pm Oct 19, 2009 4:41pm
I have been using ranko version 1.6 as a script. I am trying to upgrade it to v3.2 which is an EA. But running into problems

when v3.2 is run as a EA on a chart, it does not seem to create any off-line m2 chart. I also noticed that EA does not put a smily but puts 'x' on the chart and no comment that it has created m2 chart. See the attached screen-shots.
What am I missing?
Attached Image (click to enlarge)
Click to Enlarge Name: lrc3.2_ea.gif Size: 30 KB
Attached File(s)
File Type: doc lrc3.2 offline.doc   128 KB | 547 downloads
  • #348
  • Oct 19, 2009 4:51pm Oct 19, 2009 4:51pm
Quoting scartree
45FXGuy
I also think the RSI TrendCatcher has promise. There are a bunch of dots shown on the charts which I have been unable to explain. Do you have any idea what they are or what they do?
Karl
I think the green dots signal a possible long, red a short, a lot of yellow dots in a row looks like possible ranging or caution areas, LWMA 12 is also pretty flat in those areas.
Attached Image (click to enlarge)
Click to Enlarge Name: a fractal zig zag2 ea pic 46.gif Size: 47 KB
  • #349
  • Oct 19, 2009 5:13pm Oct 19, 2009 5:13pm
Quoting 45Fxguy
hi scartree,
Yeah thanks for posting RSiTrendCatcher looks promising.
I have it set to 8, 60, & 50 in this screen shots looks like it may help catch & keep you in some pretty big trends.
You can overlay RSI-TC on MACD and get rid of standard RSI. You have to set fixed values on MACD at -30,+30 and RSI 1, 100 in the common tab and it lines up nicely. Settings 10, 45,55
Q
Attached Image (click to enlarge)
Click to Enlarge Name: rsi -tc.gif Size: 20 KB
The Only Constant Is Change!
  • #350
  • Oct 19, 2009 5:33pm Oct 19, 2009 5:33pm
Hi Jazz
Those settings produce a strange effect on my chart! For the MACD do you mean the -30, +30 to go in the common settings - min, max? The other settings for the MACD I have left as before - 12, 26, 9 - standard settings for MACD.
  • #351
  • Edited 6:03pm Oct 19, 2009 5:52pm | Edited 6:03pm
Quoting scartree
Hi Jazz
Those settings produce a strange effect on my chart! For the MACD do you mean the -30, +30 to go in the common settings - min, max? The other settings for the MACD I have left as before - 12, 26, 9 - standard settings for MACD.
Yes check "fixed" in the common settings -30 and +30 and the RSI needs to be at fixed values of 1 and 100. That should line them up. Some signals look good for entries others good for confirmation of earlier entry.
Q

You may have to adjust a bit with the MACD fixed values depending on chart. Some visuals are better at +/- 50, some better at +/-30.
The Only Constant Is Change!
  • #352
  • Oct 19, 2009 6:13pm Oct 19, 2009 6:13pm
Hi Jazz - by using -300 and +300 for the fixed values for the MACD, I get the exact result you have with -30, +30. Anyway - it works. Thanks
Karl
  • #353
  • Oct 19, 2009 7:07pm Oct 19, 2009 7:07pm
Quoting Petar_Serbia
hahh xBweNx i play Starcraft 10 years Terans rules

o yes best game ever #1 on my list 10yr running also though hard 2 play while trading sometimes
  • #354
  • Oct 19, 2009 7:08pm Oct 19, 2009 7:08pm
i did not know that my system would be looked over at all. I would love to know how people are doing with it. lets see though pip number! im going to test out some of the new indicator see how i like them

The RSI TC dots are???
  • #355
  • Oct 19, 2009 7:28pm Oct 19, 2009 7:28pm
Hi xBweNx
Do not be surprised by the interest in your strategy - it looks good on first study. I am now starting to forward test on demo. There are a few false starts which are a worry but your experience that the wins are greater than the losses is encouraging. I am not happy with the MM at this stage and the need to keep losses small. Perhaps someone has a means of filtering the falsies somewhat or can make a suggestion to improve the win/loss ratio. I am looking at entering after the signal bar closes and adding momentum indi to the mix.

It looks like 70-80% win/loss could be possible so I am also looking at a fixed TP of say 10 pips and SL of 10 also. ("Less is more")! There are plenty of opportunities so with an increasing size of order, good returns could result. This would allow me to run the MM EA I use and make for an easier life. Those levels need some work.

But so far, it has promise. Thanks for sharing.
Regards Karl
  • #356
  • Oct 19, 2009 7:38pm Oct 19, 2009 7:38pm
my SL is 30 and TP 50-80 on 10pip renko. To me renko is like trading the min30/hourly timeframe. Usually in though timeframe you gotta allow a 30pip SL. most time i dont hit -30 usually half around -15pip and a lot BE. my win/lose ratio i would say is 70% average. most of the false entry do go for a 10-15pip run with ends up for me a breakeven or 1pip gain. the R:R and MM varies from person to person but you may want to consider do 5pip renko if you cant allow for this SL because it is like trading high timeframe.

I dont think a 10SL would be good because your SL will be hit a lot of time because i get -10 pip often but if you can work it out please let me know.
  • #357
  • Oct 19, 2009 8:12pm Oct 19, 2009 8:12pm
Here's my first demo nibble at this strategy this morning. $120 profit. Do that a couple of times a day and thats a nice return thanks very much.

Karl
Attached Image (click to enlarge)
Click to Enlarge Name: 20 oct 09 gj.gif Size: 58 KB
  • #358
  • Oct 19, 2009 8:23pm Oct 19, 2009 8:23pm
xBweNx
Thanks for the MM suggestions. I agree 10 is too small for SL - confirmed by visual back check. 30 may be better but 10 scalping is not good R:R so your longer TP makes more sense.

Has anyone considered this system for an EA. I believe it could lend itself to an EA as entries are fairly mechanical. Just a thought - I cannot do it as I am not a programmer.

Karl
  • #359
  • Oct 19, 2009 8:27pm Oct 19, 2009 8:27pm
Quoting scartree
xBweNx
Thanks for the MM suggestions. I agree 10 is too small for SL - confirmed by visual back check. 30 may be better but 10 scalping is not good R:R so your longer TP makes more sense.

Has anyone considered this system for an EA. I believe it could lend itself to an EA as entries are fairly mechanical. Just a thought - I cannot do it as I am not a programmer.

Karl
I thought about EA since this is fairly mechanical but never really like EA i would love to see one in action on Renko though be interesting.
  • #360
  • Oct 19, 2009 8:35pm Oct 19, 2009 8:35pm
I add pivots and also close positions at rsi reversals
Attached Image
2 traders viewing now