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Renko Trading For Gamers (RTFG)

  • #321
  • Jan 6, 2010 6:43am Jan 6, 2010 6:43am
Happy Christmas Eve to all Orthodox Christians!
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  • #322
  • Jan 6, 2010 10:22am Jan 6, 2010 10:22am
Quoting xBweNx
go here http://www.forexfactory.com/showpost...&postcount=239 this is the basic of the system that i made. You must also understand this is not a mechanical system. I showed all valid signal but does not mean that you should take all the signal i have show in the charts. You need to watch your Support and Resistance lines. If you need farther explanation just let me know

Petar did add delta to the system with seem to help filter out more of the ranging market.

Hello and Thank You.... I have been successfully using the indicators from the Renko Zip file.... Very well organized... really appreciate your taking fime for the post at 239.

Had one question. Is there any more information about the "Sweet Spot" indicator? I have seen some red/blue lines appear on my chart and although I have googled and researched... I haven't been able to figure out how they are derived.. Is "sweet spot" the source?

Also thought you might be interested to know that I have experimented with Renko on Russell eMini in Market Delta... also with initial success. Backtest is in progress.

Thanks again.
  • #323
  • Jan 6, 2010 10:37am Jan 6, 2010 10:37am
Quoting fxtango
Hello and Thank You.... I have been successfully using the indicators from the Renko Zip file.... Very well organized... really appreciate your taking fime for the post at 239.

Had one question. Is there any more information about the "Sweet Spot" indicator? I have seen some red/blue lines appear on my chart and although I have googled and researched... I haven't been able to figure out how they are derived.. Is "sweet spot" the source?

Also thought you might be interested to know that I have experimented with Renko on Russell eMini in...
im not quite sure what your talking about with "sweet spot" indicator. I dont use it
  • #324
  • Jan 6, 2010 10:58am Jan 6, 2010 10:58am
Quoting fxtango
Hello and Thank You.... I have been successfully using the indicators from the Renko Zip file.... Very well organized... really appreciate your taking fime for the post at 239.

Had one question. Is there any more information about the "Sweet Spot" indicator? I have seen some red/blue lines appear on my chart and although I have googled and researched... I haven't been able to figure out how they are derived.. Is "sweet spot" the source?

Also thought you might be interested to know that I have experimented with Renko on Russell eMini...
fxtango,
Can you post a screen shot & a screen shot of your chart's indis list?
Ctrl+I, should bring that up.
  • #325
  • Jan 6, 2010 2:43pm Jan 6, 2010 2:43pm
Hey 45FXGuy and xBweNx:

Thanks again for trying to help me out... and sorry for my confusion over source. There have been several really helpful posts and downloads on multiple threads, and I got confused about which one was which.... xBweNx, I have been using your excellent stuff on my desktop machine -- and of course, you are right -- Sweet Spots isn't there!

I went to my laptop and took the picture requested. I will have to check again tonight when I am fresher to see if I can figure out something from the source code... I can also probably figure out how to post that indicator for those more experienced that me in MT4 syntax.... It must be some kind of pivot or High/Low...

I guess the real reason for my interest in "Sweet Spots" is more an interest in fine tuning entries and exit strategies in Renko.

I can't tell you what a boost this information has already given my trading.

Hats off to you all...

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: Renko Chart w-Indicators.GIF Size: 93 KB
  • #326
  • Jan 6, 2010 3:11pm Jan 6, 2010 3:11pm
Quoting fxtango
Hey 45FXGuy and xBweNx:

Thanks again for trying to help me out... and sorry for my confusion over source. There have been several really helpful posts and downloads on multiple threads, and I got confused about which one was which.......
Hi,
Thanks & back at you fxtango.
I've used "sweet spots", before for scalping so will be very interested in how you apply it here, & looking forward to more of your post.

Just a little bit of a fun exercise/experiment, in demo of course, just try adding a plain H-line anywhere you feel appropriate to a naked renko chart, brick size of your choice. Kinda like your own made up pivot point, and try to decide before hand which way you will trade when PA crosses that line.
Try doing it at time when the market is moving fast but not too fast for the brick size you'll be using. I'll leave the tp/sl up to you to decide as well.
I haven't tired it myself yet, just an idea I've had on the back burner for a while now. You kinda reminded me of it when you mentioned sweetspots.
  • #327
  • Jan 6, 2010 4:37pm Jan 6, 2010 4:37pm
Turns out that "Mr_Nims" from forex-tsd posted the renko zip file with Sweet Spots.... I became interested again last evening when I took a trade in GBP/USD at the London open... Seemed to be a magnet for the uplift in price... I have only casually observed in other pairs, these S/R levels also seem to be relevant. Must do more research, but will post any findings as I have them.

Meanwhile, also found it of interest that the charting package Market Delta -- which I have used primarily for market profile charts -- includes a Renko graph option.

I often trade the Russell emini and began to experiment with Market Delta Renko this morning... I am using the same RSI and MACD indicators with quite different settings than have been favorably received in Forex. But the preliminary results on the eMini are pretty cool...

I will try to post a market delta emini chart tomorrow (with new settings) in case there are any crossover traders in the group.

I will also try to capture a shot of the Sweet Spot targets from GBP/USD that seemed to work well overnight...

But for now, off to a rest of the eyes!
  • #328
  • Jan 7, 2010 1:47am Jan 7, 2010 1:47am
Just wanted to say thanks to the person who made the RenkoLiveChart expert, it's a diamond. I have no idea why the metaquotes guys are reluctant to add renko charts into their software, and good to know there is a way around it.
And the strategy overall looks outstanding as well.
Today is Christian Orthodox Xmas, s Rozhdestvom, God bless you all with peace and happiness. And pips
Sergei
  • #329
  • Edited 2:39pm Jan 7, 2010 12:00pm | Edited 2:39pm
This a little observation I made this morning. Notice there maybe some advantage to placing Delta in same window as MACD.
May take a while to find out if this is true so thought I'd post a visual back test screenshot.
Notice though this isn't default MACD settings. 5,35,5 came from 5 min trend follower scalping thread.
Attached Image (click to enlarge)
Click to Enlarge Name: delta in macd window.gif Size: 33 KB
  • #330
  • Jan 7, 2010 2:11pm Jan 7, 2010 2:11pm
45Fxguy

Just hit the wrong button and erased my nice long post for you!! Darn it...

Anyway... love saving real estate by putting Delta on the same pane with RSI and MACD...

Maybe I am doing something wrong... but the indicators seem to change position relative to one another when I move back and forth in time on my chart.

Nevertheless... I have attached a thumbnail to show the following...

1. Pale Green vertical line is just to the left of sample entry.

2. RSI is below 45 level per original system rules.

3. MACD is about to cross down through zero level and histogram bars are below yellow 5 signal line.

4. Delta is about to cross down.

Nice Set Up with 25/30 Pip SL.

The cross of yellow MACD signal line up through the Delta -- at the bottom of the 90 pip move -- is a convenient exit.... per your post!!

For new guys: You can combine indicators in a single "panel" as follows. Select Navigator from the View drop down menu. Go to indicators or custom indicators... simply drag your second or third indicator onto the appropriate panel on the chart.

Good trading to all...
Attached Image (click to enlarge)
Click to Enlarge Name: renko delta-macd.gif Size: 37 KB
  • #331
  • Jan 7, 2010 2:18pm Jan 7, 2010 2:18pm
In the thumbnail graph in my last post, there is also a blue horizontal line. That is one of the lines painted by the "Sweet spots" indicator... I simply forgot to remove it.

But interesting that it occurred at quite an important level, just before the big down move.
  • #332
  • Edited 2:52pm Jan 7, 2010 2:36pm | Edited 2:52pm
Quoting fxtango
45Fxguy

Just hit the wrong button and erased my nice long post for you!! Darn it...

Anyway... love saving real estate by putting Delta on the same pane with RSI and MACD...

Maybe I am doing something wrong... but the indicators seem to change position relative to one another when I move back and forth in time on my chart.

Nevertheless... I have attached a thumbnail to show the following...

1. Pale Green vertical line is just to the left of sample entry.

2. RSI is below 45 level per original system rules.

3. MACD is about...
"Maybe I am doing something wrong... but the indicators seem to change position relative to one another when I move back and forth in time on my chart."

No fxtango your not doing anything wrong that's what they will do if you don't fix their positions, but I don't really like doing that as it can obstruct your view of the whole macd top & bottom.
That's reason I thought it would be good idea to share since could will take a long while to see if these crosses are going to be of any value or not. .
Don't know yet but guess it can't hurt to try since doesn't really take anything away from either xB's or Petar's box setup.


PS: Possible pandor's box breakout on the horizon.
Attached Image (click to enlarge)
Click to Enlarge Name: possible pandor box breakout ahead.gif Size: 23 KB
  • #333
  • Jan 7, 2010 2:50pm Jan 7, 2010 2:50pm
With renko I only use a T3MA-type line, plus additionally zigzag and wpr (paints bars green/red). But maybe I will eventually get rid of the zigzag and w%r, too.
Previously I was trying to add things like rsi or macd or cci and discovered they add absolutely nothing to the picture.
Renko makes MM crystal clear, thats what I like about it. And with proper MM you can almost toss a coin to choose whether you go long or short.
just my five cent
Attached Image (click to enlarge)
Click to Enlarge Name: renko.gif Size: 25 KB
  • #334
  • Jan 7, 2010 2:59pm Jan 7, 2010 2:59pm
Quoting FatherJack
With renko I only use a T3MA-type line, plus additionally zigzag and wpr (paints bars green/red). But maybe I will eventually get rid of the zigzag and w%r, too.
Previously I was trying to add things like rsi or macd or cci and discovered they add absolutely nothing to the picture.
Renko makes MM crystal clear, thats what I like about it. And with proper MM you can almost toss a coin to choose whether you go long or short.
just my five cent
Hello,
Thanks for posting FatherJack,
Can you please give a detailed example of daily trades on a pair/cross using a coin toss MM system?
  • #335
  • Jan 7, 2010 3:25pm Jan 7, 2010 3:25pm
Quoting 45Fxguy
using a coin toss MM system?

Not a coin toss MM, but a coin toss entry, mind you.
Yes, I can. Easy.
It is absolutely any entry.
Because you never know where the price is going.
  • #336
  • Jan 7, 2010 3:51pm Jan 7, 2010 3:51pm
Quoting FatherJack

Not a coin toss MM, but a coin toss entry, mind you.
Yes, I can. Easy.
It is absolutely any entry.
Because you never know where the price is going.
LOL, I think I understood you I just mixed up the words a bit I guess.
Just hadn't tried it myself yet. Would you start with .1 lot & if it loses flip coin, heads long, tails short, then place .2 lot bet next etc? I'd like to try it this weekend in a mt4 simulator.
Just curious...
  • #337
  • Jan 7, 2010 4:13pm Jan 7, 2010 4:13pm
Quoting 45Fxguy
Would you start with .1 lot & if it loses flip coin, heads long, tails short, then place .2 lot bet next etc?
Aha. But devil is in the detail. That's why I like renko so much.
  • #338
  • Jan 7, 2010 4:55pm Jan 7, 2010 4:55pm
This looks like a very Interesting breakout indi maybe it can be tweaked to draw Petar's pandor boxes don't know, but here it is in case anyone wants to try it.
Attached Image (click to enlarge)
Click to Enlarge Name: breakout box indi.gif Size: 42 KB
Attached File(s)
File Type: mq4 BreakOutBoxesV2.06.mq4   58 KB | 628 downloads
  • #339
  • Edited 9:44am Jan 8, 2010 8:09am | Edited 9:44am
Was very distracted this morning, been trying to keep a squirrel off my roof yesterday by trimming some bushes etc but it still managed to find a way into my attic this morning. 1st time I seen in there, & it's starting to do some damage, any suggests? I still haven't found where it chewed it's way in yet.
Anyway I swithched the breakout indi to ny this morning & it nailed Petar's pandor box perfectly I think, too bad Petar not back yet to confirm it.
There was a very nice breakout which I had a pending order to catch but didn't take very many pips due to said distraction & didn't have a tp/sl set yet.
Someone posted this new HA indi on Trading Renko thread ( or a link to it) this morning that looks very good and maybe also worth testing as well, but not seen in this screen shot yet.

http://codebase.mql4.com/6029
Attached Image (click to enlarge)
Click to Enlarge Name: breakout box indi 1st trade.gif Size: 30 KB
Attached File(s)
File Type: mq4 HeikenAshiZoneTrade.mq4   8 KB | 505 downloads
  • #340
  • Jan 8, 2010 8:21am Jan 8, 2010 8:21am
Here's a pic of the ha zone indi mentioned in post above, and a possible earlier buy signal that breaks all rules of both xB & Petar's setup but maybe one worth keeping an eye on with RSI, MACD, & Delta in the same window.
Maybe just a fluke with that sudden drop & rebound from that drop that may have been news related, but don't know since I don't check news very often.
Attached Image (click to enlarge)
Click to Enlarge Name: breakout box indi 2nd.gif Size: 29 KB
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