M1 Mechanical Scalping System

M1 Mechanical Scalping System

Required Indicators:

Name -------- Settings

M1 Chart

1. 1. Renko Blocks - 10pip blocks
   2. Carmen Eyes - Space 1/2/3 - 1, Expand Rate 1/2/3 - 15/10/10
   3. MA - LWMA 68
   4. DSS Bressert - 8/13

Renko Chart(offline M2)

1. 1. NonLagMA - Length 30
   2. MA - LWMA 68
   3. DSS Bressert - 8/13

*Settings are optimized for EUR/USD pair

Rules:

We must pick our main direction(buy or sell) from Renko Block Charts(Offline M2). Once we had a setup on M2 chart, must look for entries on M1 Candlestick chart and scalp only in direction of Renko.

For Long

Renko Block Chart (offline M2)

1. PA above LWMA 68, NonLagMA, DSS dot is Black
2. It is preferable for DSS dot to change its color below 20(oversold zone) for BUY
3. If all these conditions are met, switching into M1 Candlestick chart and looking for fresh entry

M1 Candlestick Chart

 

1. PA is above LWMA 68, Carmen Eyes
2. Looking for pullback
3. Enter at change of DSS color below 20(oversold zone)
4. Take Profit / Stop Loss - Change of color DSS in overbought zone (80) or trail untill PA goes below Carmes Eyes yellow line

For Sell

Renko Block Chart (offline M2)

1. PA below LWMA 68, NonLagMA, DSS dot is Black
2. It is preferable for DSS dot to change its color above 80(overbought zone) for Sell
3. If all these conditions are met, switching into M1 Candlestick chart and looking for fresh entry

M1 Candlestick Chart

 

1. PA is below LWMA 68, Carmen Eyes
2. Looking for pullback
3. Enter at change of DSS color above 80(overbought zone)
4. Take Profit / Stop Loss - Change of color DSS in oversold zone (20) or trail untill PA goes above Carmes Eyes black line

Extreme SCALPING

BUY:

1. PA above Gann, M5 and M1 Carmens Eyes
2. DSS change its color below 20

SELL:

1. PA below Gann, M5 and M1 Carmens Eyes
2. DSS change its color above 80

NO TRADE ZONE:

1. PA is between M5 and M1 Carmens Eyes

TP / SL:

1. Change of DSS color or Gann Hi-Low

Comments and Suggestions are Welcome!

Hello,

It looks as if you could each template as a stand alone system. Do oyu always use the two chart templates together?

Could you quickly explain how to properly load the renko indicator?

Many thanks in advance

Lou

Yes, each template can be used as a stand alone system, but it gives more accurate trades if you pick your trade direction from Renko M2 chart.

To open a Renko chart follow these simple steps.

1. Copy RenkoLiveChart_EA_v3.0 into your /experts folder
2. Go to File->Open Offline->EUR/USD M2
3. Load Renko Offline chart template

Do not forget to Enable Expert Advisor tab

Here is how it can be used as a stand alone if do not follow Renko chart.

Rectangle marked areas are where M5 DSS had changed its color into buy

Could you possibly attach the indicators and template again? I cant download.
Thank you

is there any specific market time zone for your trade system ?

thanks for share I like to try it

---------

Trading The MACD Divergence

It might be your internet connection. Everything is OK with attachment. Try to redownload them if you still encounter problem, PM me and i'll send it to your email.

No there is no any specific market time zone, usually I trade after London session open, when market is more volatile.

I wondered how you got a two minute chart

To open a Renko chart follow these simple steps.
Copy RenkoLiveChart_EA_v3.0 into your /experts folder
Go to File->Open Offline->EUR/USD M2

when i do that..this is what i get.



If i just load the two templates i get exactly what you have but on two 1 minute charts.

You just need to load "M1 candlestick" to normal M1 chart, the second one "M2 offline" you must load onto already opened M2 offline chart.

I tried any combination in trying to get the setup but I fail every time. The most close I get is with two 1 minute charts.

If i load the 2 minute chart and than try to implement the offline template i get this.

Ps took a few trades only on the 1 minute signals and all winners

Try to manually attach the indicators, the settings are at #1 post.

Glad that you had winners, do not forget that looses are too part of this business,we just need keep them small.

This is great work man.

I will give you feedback after test.

Thanks

You'r Welcome! Test it as long as you wish, and let me know your comments and suggestions.

if i put the indicators manually or not. the 2 minute chart doesn't move. it doesn't give me any information.

I'm going to download another version of mt4 to see3 if it works

i think the error lies in the beginning of installation.

i copy all the files in the proper destination folder. Than i open MT4. I can see the EA in the expert section.

i go to file, offline, but i don't see a 2 minute chart option there. (i had the same problem the first time i installed, no idea how i solved it so that the 2 minute chart showed.)

Now whatever I do Example copying the EA to the chart or any other action doesn't give me any result.

Could someone, who downloaded these files and succeeded in installing, explain to me what they did exactly. Please tell me the broker your are using too.

TNX

Hi

I'm very new to Renko so please excuse some very stupid questions.

I see a setup on 2 min renko chart - the time of the setup is 18:00 i.e.
When I switch back to the 1 minute regular chart the time is 21:00.

Is that right??? We only use the Renko chart to find direction and then trade the 1 min regular chart.

I just want to know if I've got it straight.

On the attachments GU m2 I have a SELL Setup - I look back at the GU M1 for entry.

Also, how often do we need to refresh the Renko Chart?

And How? Close old and reopen new?

Thanks - I love learning new stuff.

Jim (MrChips)

Regarding the M2 chart, same thing here. I get the M2 chart to open, but the indicators do not appear.

The M1 chart is fine. I have the M1 and M2 charts side-by-side, tiled vertically, but there is nothing on the M2 chart except candlesticks and an empty DSS(8,13) box at the bottom of the chart.

Do we need to attach the EA to the M2 chart as well?