Renko Block Charts | Page 22 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

RENKO Trading SYSTEM - RENKO Indicators 7 replies

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

Charts, Charts, Charts! 1 reply

Sticky Renko Charts 5 replies

MA problem on 1/2 block Renko 1 reply

Attachments: Renko Block Charts
Exit Attachments

Renko Block Charts

  • #421
  • Nov 10, 2009 9:33am Nov 10, 2009 9:33am
If you are using RenkoLiveChart at all, here's why you should use the v3.2.

1. v3.2 is an EA rather than a script or an indicator. This means that when you start MT4 it will not be necessary to recreate your charts by manually adding a script or to restart Mt4 more than once to get your chart to update (as is necessary with earlier indicator-based versions).

2. v3.2 has automatic support for 4 and 5 digit brokers.

3. v3.2 provides the facility to run Expert Advisors on the offline Renko chart with no extra tinkering.

4. Several small but occasionally annoying buglets from earlier versions have been fixed.
Old Benjamin was right
  • #422
  • Edited 10:02am Nov 10, 2009 9:45am | Edited 10:02am
Quoting Lou G
Number one, please upgrade to v3.2 - all prior versions are deprecated per the author of the EA.

As far as your question re: AU and other pairs, I can't imagine why this would happen - I've used RLC_v3.2 on most common pairs including AU with no problem. When you add the EA to your M1 chart do you see the message in the upper left corner indicating the name of the offline chart? If not, be sure you have clicked the expert advisors button (top center on the tool bar) and that the expert advisory at the upper right corner of the chart is showing...

Lou,

Thanks for your prompt reply.. am I understanding you correctly? this EA will work as an indicator too? Where can I find it?

Thanks

PS... I found it and installed it... but please confirm my first question... Thanks
Unus pro omnibus, omnes pro uno
  • #423
  • Nov 10, 2009 10:16am Nov 10, 2009 10:16am
Quoting moneda
Lou,

Thanks for your prompt reply.. am I understanding you correctly? this EA will work as an indicator too? Where can I find it?

Thanks

PS... I found it and installed it... but please confirm my first question... Thanks
No, v3.2 cannot be used as an indicator - all of the indicator-based versions had updating problems, hence the change back to the EA.

The author of RLC (LastViking) has indicated that, barring the discovery of a major bug (which is unlikely), version 3.2 will be the Alpha release and no more changes are planned.
Old Benjamin was right
  • #424
  • Nov 10, 2009 10:41am Nov 10, 2009 10:41am
Quoting Lou G
No, v3.2 cannot be used as an indicator - all of the indicator-based versions had updating problems, hence the change back to the EA.

The author of RLC (LastViking) has indicated that, barring the discovery of a major bug (which is unlikely), version 3.2 will be the Alpha release and no more changes are planned.
Lou,

It is me again... at the risk of coming across as a complete noob when it comes to programing(which I am) are you saying that I can not use the v 3.2 v to trade manually, if not what is the problem with v 2.1 for manual trading?

Also, as you can see below my FXPro platform does not show a 2m aud/usd.
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-11-10_1139.png Size: 36 KB
Unus pro omnibus, omnes pro uno
  • #425
  • Nov 10, 2009 10:55am Nov 10, 2009 10:55am
Quoting moneda
Lou,

It is me again... at the risk of coming across as a complete noob when it comes to programing(which I am) are you saying that I can not use the v 3.2 v to trade manually, if not what is the problem with v 2.1 for manual trading?

Also, as you can see below my FXPro platform does not show a 2m aud/usd.
Yes, you can use v3.2 to trade manually - I do it every day (see the attached screenshot from a minute ago). You can also use v2.1 if you are willing to tolerate the fact that it does not have optional wicks and has startup problems (if MT4 has been off for a while, it may need to be restarted more than once for the current data to "catch up").

As far as the AU goes, your attachment is no help - show me your AU M1 chart and we'll go from there...
Attached Image (click to enlarge)
Click to Enlarge Name: renko10pip.gif Size: 15 KB
Old Benjamin was right
  • #426
  • Nov 10, 2009 11:02am Nov 10, 2009 11:02am
Lou,

Well great!...I was worried for a moment there considering that I have put a lot of time into the Renko Chart approach in the last week or so.... I will use the v3.2. Here is the aud/usd chart:

Thank you for your generous help
Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 10 KB
Unus pro omnibus, omnes pro uno
  • #427
  • Nov 10, 2009 11:23am Nov 10, 2009 11:23am
Quoting moneda
Lou,

Well great!...I was worried for a moment there considering that I have put a lot of time into the Renko Chart approach in the last week or so.... I will use the v3.2. Here is the aud/usd chart:

Thank you for your generous help
Well, you have a definite setup problem - I don't see the EA message in the upper right corner of your chart so that explains why you have no offline chart. See below a screenshot of my M1 chart - this is what yours needs to look like. Follow these steps:

1). In MT4, go to tools/options/expert advisors and check every box EXCEPT "Ask manual confirmation" and "Confirm DLL function calls".

2). Open a M1 chart for AU. Drag RLC_v3.2 from navigator onto the M1 chart, set your preferred Renko blocksize (let's make it 10) and leave the other options at default. Click OK.

3). You should see the message in the upper RH corner followed by either an x or a smiley face. If no smiley, click the Expert Advisors button on the tool bar. Now you should have a smiley.

4). Wait for the RLC message (see attachment) to show in the upper LH corner. The message will appear when a new tick is received by MT4.

5). When the message appears, you can click "File/Open offline" and begin using your offline M2 chart.
Attached Image (click to enlarge)
Click to Enlarge Name: renkom1.gif Size: 11 KB
Old Benjamin was right
  • #428
  • Nov 10, 2009 11:33am Nov 10, 2009 11:33am
Hopefully, you have RLC_v3.2 in the yourmt4/experts folder???
Old Benjamin was right
  • #429
  • Nov 10, 2009 11:43am Nov 10, 2009 11:43am
Lou,









Thank you very much.
Unus pro omnibus, omnes pro uno
  • #430
  • Nov 10, 2009 11:48am Nov 10, 2009 11:48am
Quoting moneda
Lou,









Thank you very much.
Just to satisfy my curiousity (if it's not too embarassing) tell me what you were NOT doing before
Old Benjamin was right
  • #431
  • Nov 10, 2009 12:06pm Nov 10, 2009 12:06pm
Quoting Lou G
Just to satisfy my curiousity (if it's not too embarassing) tell me what you were NOT doing before
Lou,

Embarassing? a little price to pay for your unconditional help ......Simply that I did not know about going to Tools(etc.) I was placing the v 2.1 on the aud/usd 1m chart just like I had done with eur/usd and gbp/usd (with success) but the 2m chart(offline) was not showing up. I am not sure why the 2m charts were there for fiber and cable..... Once again, thank you for helping me.

By the way, I put a post on your thread "Trading the Renko" asking the people who are presently contributing their ideas if all the bells and whistles that they have added to your original approach has resulted in better profits. Have you decided to allow that thread to take its own course?
Unus pro omnibus, omnes pro uno
  • #432
  • Nov 10, 2009 12:54pm Nov 10, 2009 12:54pm
Quoting moneda
Have you decided to allow that thread to take its own course?
Yeah, that's basically it. I started the thread as a discussion rather than a trading system because I really didn't know for sure how I wanted to trade Renko and wanted to see other people's ideas. Early in the thread there were some good ones but soon (as all threads do unless you control them with an iron hand, even to the point of banning members from the thread) it degenerated into "indicator madness" with charts that no longer even resembled Renko.

As you can see from the offline GU chart I posted earlier, I'm leaning toward using support/resistance as my approach and it's been working out pretty well, pip-wise. I'll stick with that for a while and see how it goes.

Enjoy your new offline charts,

Lou G
Old Benjamin was right
  • #433
  • Nov 10, 2009 5:40pm Nov 10, 2009 5:40pm
Quoting Lou G
Yeah, that's basically it. I started the thread as a discussion rather than a trading system because I really didn't know for sure how I wanted to trade Renko and wanted to see other people's ideas. Early in the thread there were some good ones but soon (as all threads do unless you control them with an iron hand, even to the point of banning members from the thread) it degenerated into "indicator madness" with charts that no longer even resembled Renko.

As you can see from the offline GU chart I posted earlier, I'm leaning toward using support/resistance...
Lou,

That is unfortunate but it happens to most threads... I am really interested in using Renko along with PA as a way to simplify my trades and help with the mental aspect. At the moment I am focusing on swings high/low/continuations/pullbacks and bounces and reversal from support and resistance levels..no indicators except the renko bars/candles. I am also using the wicks or lack of them to help me with momemtum/speed of price.

Thanks again Lou and if you decide to start discussing trading with Renko again I will gladly join your thread.



PS...forget to mention that I tried putting v3.2 on three pairs and my computer started to act erratically...not sure why but I am using v 2.1 and v 3 for now.
Unus pro omnibus, omnes pro uno
  • #434
  • Nov 10, 2009 6:50pm Nov 10, 2009 6:50pm
Quoting Lou G
Yeah, that's basically it. I started the thread as a discussion rather than a trading system because I really didn't know for sure how I wanted to trade Renko and wanted to see other people's ideas. Early in the thread there were some good ones but soon (as all threads do unless you control them with an iron hand, even to the point of banning members from the thread) it degenerated into "indicator madness" with charts that no longer even resembled Renko.

As you can see from the offline GU chart I posted earlier, I'm leaning toward using support/resistance...
Why all the indi phobia? Have you tried any of the other setups presented in the thread besides your own? Isn't s/r an indicator too?
If that's all you wanted you could have stopped reading at your post #1.
You started the thread as you mentioned before as an open discussion on trading renko charts, and seems now you've settled into what works for you which is fine. Thing is as you know with forex there are more than 1000 different ways to skin the fx cat. To say that the thread fell into indi madness seems to be stretching it to the point of insulting many good contributors to that thread.
Beside do you know of an ea that can work just on s/r on renko charts?
If you do I'd like to know about it.
  • #435
  • Nov 10, 2009 6:54pm Nov 10, 2009 6:54pm
Quoting Carterrobert
Hi Fella

I have been watching this thread carefully and i am pleasantly impressed, anyway i am having some minor issues in applying v1.3 to 1.6 on my 5digit broker platform here is the problem below

1: My broker runs a four digit and 5 digit decimals . i use the 5 digit because it is direct ECN execution. When i apply the renko script on m1 5dgt chart and open offline chart, it only applies renko to four digit chart as oppoesed to 5 digit chart.
2: i have already tried changing pips value in script e.g to say 100 as opposed to 10 still no success....
Hi,
What pip size are you using. Thanks.
Pardy
  • #436
  • Nov 10, 2009 10:35pm Nov 10, 2009 10:35pm
Quoting Lou G
If you are using RenkoLiveChart at all, here's why you should use the v3.2.

1....
Thanks Lou G,

Yes, the above infos have settled most of our renko issues earlier

also my respect too Last Viking.
  • #437
  • Nov 11, 2009 4:40am Nov 11, 2009 4:40am
Thank you both Lou G and Last Viking,

I've been following this thread, and i think you have been doing a great job. Because of you I discover the Renko charts. I'm a rookie in this method, but I think it has a great potential.

Keep up the excelent work.


Quoting Lou G
If you are using RenkoLiveChart at all, here's why you should use the v3.2.

1....
  • #438
  • Edited 6:59am Nov 11, 2009 6:46am | Edited 6:59am
Quoting 45Fxguy
Why all the indi phobia?...
No offense intended (and I hope none taken). I did not intend to insult anyone (you are the only member thus far to even suggest that I did). I'm a pragmatist and have no problem with anyone's approach to trading. I think that everyone who participated in that thread benefited from seeing the ideas of others.

Yes, I confess to being a bit suspicious of the idea that there is an indicator somewhere out there that will solve all our trading insecurities. As far as I know there is not one that will predict the future. If I tend to believe that more and more indicators tend to obscure PA (the only indicator that really counts) rather than enhance it then I'm just as entitled to that opinion as you are to yours.

So, don't be offended - let's continue to share and help each other make a few pips
Old Benjamin was right
  • #439
  • Nov 11, 2009 7:01am Nov 11, 2009 7:01am
Quoting moneda
PS...forget to mention that I tried putting v3.2 on three pairs and my computer started to act erratically...not sure why but I am using v 2.1 and v 3 for now.
I'm almost afraid to ask - what do you mean by "erratically"?
Old Benjamin was right
  • #440
  • Edited 10:42am Nov 11, 2009 10:10am | Edited 10:42am
Quoting Lou G
I'm almost afraid to ask - what do you mean by "erratically"?
Lou,

Don't be afraid....it is only a word! .. I think that my old clunker can not handle the load...so I will go back to v 2.1 and make the best of it.

Thank you , Viking, Ellis
Unus pro omnibus, omnes pro uno
1 trader viewing now