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1 min Scalping with Randy Candles Resurrected

  • #141
  • Dec 10, 2009 10:36am Dec 10, 2009 10:36am
Hey Nom,
Further testing has not proved all that solid. Not worth further effort.
Thanks much.
Cliff
I get exercise just pushing my luck
  • #142
  • Dec 11, 2009 12:26am Dec 11, 2009 12:26am
No problem, Cliff.Let me know if you get more interesting stuff.

Cheers and take care,


Nomnom
  • #143
  • Mar 10, 2010 9:35pm Mar 10, 2010 9:35pm
I'm trying something Mixing Randy candles with Renko

open a 1m chart put the Renkolive script file on it
Then open offline chart and use the template
Gets rid of alot of the noise... Just started trying it this week
see myfxbook for results
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.GIF Size: 82 KB
Attached File(s)
File Type: mq4 RenkoLiveChart_v1.6_scr.mq4   9 KB | 497 downloads
File Type: ex4 xMeter Indicator.ex4   12 KB | 499 downloads
File Type: ex4 UltimateRSIIndicator.ex4   11 KB | 529 downloads
File Type: tpl randycandles 310.tpl   37 KB | 489 downloads
  • #144
  • Mar 11, 2010 5:36am Mar 11, 2010 5:36am
had a lot of my trades hit SL
I'm tring it with no SL right now, it needs room to breath. I will have them but need to define where

With the Randy Renko a candle may sit for hours before it moves but in reality it could be bouncing around 100 points ( 5 didgit broker)
Right now I have a good G/J going see what happens

I marked some entires (wish I would have taken them) See how the trade respects the pink 3 sma line. This is hitting R2 right now don't think it will make it to R3
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  • #145
  • Mar 11, 2010 7:43pm Mar 11, 2010 7:43pm
Rode the S--- out of G/J today

Vertical Red line buy at blue line then sold at Vertical blue line
Then rode it down Red vertical line but stopped myself out at blue line136.385 ... still looking at Sl and TS for now but it seams the entries are text book RC

Playing a sell G/U right now will maybe look at 2 x ATR for exit not sure yet.
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  • #146
  • Mar 12, 2010 3:38am Mar 12, 2010 3:38am
Quoting dryclean
Rode the S--- out of G/J today

Vertical Red line buy at blue line then sold at Vertical blue line
Then rode it down Red vertical line but stopped myself out at blue line136.385 ... still looking at Sl and TS for now but it seams the entries are text book RC

Playing a sell G/U right now will maybe look at 2 x ATR for exit not sure yet.
hi dryclean, what is the renko box size u r using?
thanks. pardy
  • #147
  • Mar 12, 2010 5:27am Mar 12, 2010 5:27am
10 on this 100 because 5 digit broker

Look at this chart up up and away
I've been fooling around with randy candles for a while and just started renko maybe 4 months ago. It just seams to get rid of a lot of head fakes

But I must work on the exit I'm leaving many many pips on the table. I plan on re-reading all of the RC stuff here and on TSD and some renko exits this weekend

I could set it at 20 pips but just on this chart it is over 125

I was using a ea Mauro_trailing but not sure how to set it I'm not giving it enough room to breath and it either closed my out for loss or again low pips won



any thoughts on exits?
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.GIF Size: 95 KB
Attached File(s)
File Type: mq4 Mauro_Trailing.mq4   17 KB | 512 downloads
  • #148
  • Mar 12, 2010 6:18am Mar 12, 2010 6:18am
Quoting dryclean
10 on this 100 because 5 digit broker

Look at this chart up up and away
I've been fooling around with randy candles for a while and just started renko maybe 4 months ago. It just seams to get rid of a lot of head fakes

But I must work on the exit I'm leaving many many pips on the table. I plan on re-reading all of the RC stuff here and on TSD and some renko exits this weekend

I could set it at 20 pips but just on this chart it is over 125

I was using a ea Mauro_trailing but not sure how to set it I'm not giving it enough room to breath and...
Thanks Dryclean. Aren't exits always difficult!! You could try price crossing the low/high of previous bar both for exits and re-entries. Or an exit based on a renko bar in opposite direction - this can keep you in to catch long trends, tho not so good in whipsaw ranging.
  • #149
  • Mar 14, 2010 8:08pm Mar 14, 2010 8:08pm
Made a quick 40 pips so far using the Randy Renko system

Closed out 1/2 of trade once up 10 pips and then let other 1/2 ride till it looks like it's gona turn .... hard to do with the renko because there is no time in a way
  • #150
  • Mar 15, 2010 2:07am Mar 15, 2010 2:07am
Quoting dryclean
Made a quick 40 pips so far using the Randy Renko system

Closed out 1/2 of trade once up 10 pips and then let other 1/2 ride till it looks like it's gona turn .... hard to do with the renko because there is no time in a way
i 've just downloaded your templates but i am pretty confused about the entry points, can you explain a little here ? Thanks! i am planning to do a manual backtesting. Thanks!
  • #151
  • Mar 15, 2010 5:34am Mar 15, 2010 5:34am
Look at the first few post it tells you exactly where the entries are. All I've done is add it to a Renko chart

Attached is an example I've circled the Zorro alert candle above the pink line the circled the entry candle below. I also added the i-Trend it seams to cross at the entry but not really needed.
The only thing in this setup I don't like is the entry candle is very close to the D-line or the 25 sma yellow line. Sometimes it will bounce off that line but I looked at the strength and weakness of the pair with the xmeter and felt it would break through. right now it has hit S1 and I'm looking for a reversal
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  • #152
  • Mar 15, 2010 10:04pm Mar 15, 2010 10:04pm
Quoting dryclean
Look at the first few post it tells you exactly where the entries are. All I've done is add it to a Renko chart

Attached is an example I've circled the Zorro alert candle
Hi dryclean:

Using Heiken Ashi with Renko can't give you "true" Randy Candles.

Look closely and you won't find the 4 different colored Randy Candles (i.e. no Chili Peppers, or white/black candles).

Regards,
JS
  • #153
  • Mar 16, 2010 6:31am Mar 16, 2010 6:31am
that is true you don't see red with green tails or white with black tails except when they are forming

Never said this was a proven technique just experimenting. My entries have been going well I just don't have my Sl and exits yet

Wouldn't you have loved to get in where I drew that circle (I missed it I was out)
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  • #154
  • Mar 18, 2010 9:23am Mar 18, 2010 9:23am
Added m5 and m15 to pairs to confirm entries like original Randy Candle
I also put a take profit of 200 pips (5 digit broker) I had it set 1000 and hoped the trailstop would run up with it but I left to many pips on the table also increased SL to 300 to give more room to breath. But now the RR is 2:3

Account up over 19% for the month and most of it is experiments So all and all looks promising. Tempted to go back to just plain old RC but will try this for rest of the month.

Wish I could program an alert in i_Trends I like using this Indi
The RSI is not as usefully in the Renko charts
  • #155
  • Mar 19, 2010 1:08am Mar 19, 2010 1:08am
posting to subscribe
Shit Happens
  • #156
  • May 7, 2010 3:08pm May 7, 2010 3:08pm
Play with RC again.... Funny I always come back to it.

Here is a very plain 5min chart Template attached.

Nice setup...wait for the cross of the purple line with the right colors and direction of the trend and got out just before hitting the D line (yellow)

Only thing new added Demark Trend lines and playing with those
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.GIF Size: 78 KB
Attached File(s)
File Type: tpl randycandles.tpl   3 KB | 472 downloads
  • #157
  • May 11, 2010 3:01pm May 11, 2010 3:01pm
Real basic stuff today
just waiting for the cross over the ma3 after the alert candle then jump in The Entry Candle must obviously have the right HA color for the direction. and it must have the correct stem color for the direction...

wait till you get it!


I have an ea -e-trailing running with the TS set to 15
just grabbing some pips
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  • #158
  • May 12, 2010 4:16pm May 12, 2010 4:16pm
Here is an example of what to stay out of Small candles with short tails being choppy around the MA 3 line plus action is running very close to the yellow d line I like to see higher and lower dips in the action
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  • #159
  • Aug 11, 2010 1:16pm Aug 11, 2010 1:16pm
GU
did a buy right above the L5 closed at 1.5678 sell 2 bars later closed at 1.5650
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  • #160
  • Nov 16, 2010 1:59pm Nov 16, 2010 1:59pm
i modified some HA indicator to show the "right" wick color (body is HA, wick is classic bull/bear). using this as only entry/exit indicator on M1 chart, with horizontal s/r and 200EMA, consistent great results. a lot of screentime is mandatory.
Attached File(s)
File Type: mq4 Randy Candles.mq4   3 KB | 792 downloads
:-anything
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