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Attachments: Renko Stoch TS
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Renko Stoch TS

  • #21
  • Feb 25, 2010 3:01pm Feb 25, 2010 3:01pm
Hi, interesting approach to Renko. I like the 25 pip box especially for pairs like GBPJPY.

I am curious why you are waiting for the stoch to cross 0 . To me this is getting you into the trade at least one or two blocks late, okay when trending but not good when ranging.

Would a better entry be to take a break of the 20 or 80 line for long or short respectively.


This should get you in one block quicker allowing you to be successful in ranging markets as well
rgds

Peter
  • #22
  • Feb 25, 2010 3:37pm Feb 25, 2010 3:37pm
Quoting Saintsurfer
sorry it was a wrong one, try this.
and if you didn`t know the renko chart is set on an offline chart, so there will be two charts open for viewing this. Please look in renko block chart thread to see how to set up a renko chart and simmilar things.
regards
Is this a script or an indicator? Thanks
  • #23
  • Feb 25, 2010 4:02pm Feb 25, 2010 4:02pm
I'm trying to use this indicator but doesn't work


Quoting Saintsurfer
sorry it was a wrong one, try this.
and if you didn`t know the renko chart is set on an offline chart, so there will be two charts open for viewing this. Please look in renko block chart thread to see how to set up a renko chart and simmilar things.
regards
  • #24
  • Feb 25, 2010 4:26pm Feb 25, 2010 4:26pm
For the life of me I can't figure out how to get Renko on the chart. I went to that "Renko Block Chart" and followed. I'm still not getting it. Can someone step-by-step instruct me. I tried to put the indi on the 2 min offline chart but it won't.


Thanks
  • #25
  • Feb 25, 2010 11:27pm Feb 25, 2010 11:27pm
Criss,
follow the attached document from 1b. I am not the owner of the document, Just borrowed it from another renko thread and i know quite a few have used it.

Regards

doc
Attached File(s)
File Type: pdf Installing Renko script as an EA.pdf   62 KB | 895 downloads
  • #26
  • Feb 25, 2010 11:56pm Feb 25, 2010 11:56pm
Quoting aelimian
Is this a script or an indicator? Thanks
this is an ea, put it on 1min chart and it will say what chart to open offline, it will be m2 for the same pair actually. For more data to scroll back you can also swith to higher tf later.
Look in renko block chart thread 1 post for more precisely instruction
  • #27
  • Feb 26, 2010 12:06am Feb 26, 2010 12:06am
Quoting peterke
Hi, interesting approach to Renko. I like the 25 pip box especially for pairs like GBPJPY.

I am curious why you are waiting for the stoch to cross 0 . To me this is getting you into the trade at least one or two blocks late, okay when trending but not good when ranging.

Would a better entry be to take a break of the 20 or 80 line for long or short respectively.


This should get you in one block quicker allowing you to be successful in ranging markets as well
rgds

Peter
I was using these seting trading on 4h time frame on eur/usd, and worked quiet good, there are no golden rules what setings to use, but maybe there should be som logic how to addapt it to changing conditions. Any way it works for long time with these setings, espechialy with eur/usd.Probably becose it is most liquid and least manipulated pair
  • #28
  • Feb 26, 2010 6:12am Feb 26, 2010 6:12am
posible entry on eur/usd at the moment.But don`t take it as a trade advice
Attached Image (click to enlarge)
Click to Enlarge Name: renko stoch.gif Size: 21 KB
  • #29
  • Feb 26, 2010 7:50am Feb 26, 2010 7:50am
what a chame it ended wit a loss. But this is part of the game
  • #30
  • Feb 26, 2010 7:56am Feb 26, 2010 7:56am
Quoting Saintsurfer
what a chame it ended wit a loss. But this is part of the game
I was looking at that trade, but I didn't take it.

The stochastic was not under 45 on a completed block.
When the partial block you entered on did complete, the stochastic was above 45.
  • #31
  • Feb 26, 2010 8:53am Feb 26, 2010 8:53am
Quoting Saintsurfer
posible entry on eur/usd at the moment.But don`t take it as a trade advice
Something you might look at...

Change stoch setting to 10 & 90

What for stoch to go above 90 and then enter short with the 1st bear renko candle that close below the 10 EMA as long as direction is in agreement with the 50 EMA and opposite for a long.
  • #32
  • Feb 26, 2010 8:54am Feb 26, 2010 8:54am
Quoting billbss
I was looking at that trade, but I didn't take it.

The stochastic was not under 45 on a completed block.
When the partial block you entered on did complete, the stochastic was above 45.
good your notice
  • #33
  • Feb 26, 2010 8:57am Feb 26, 2010 8:57am
has anyone backtested this strategy/approach either manually by scrolling the charts for a given pair over a reasonable period of time or by coding it in MT4?
  • #34
  • Feb 26, 2010 9:46am Feb 26, 2010 9:46am
Quoting vnathwani
has anyone backtested this strategy/approach either manually by scrolling the charts for a given pair over a reasonable period of time or by coding it in MT4?
Since Jan. 1- EUR/USD has had 13 wins and 4 losses.

I glanced at EUR/JPY and it looked bad.

You can look at it yourself- It's easy to visually backtest.
  • #35
  • Feb 26, 2010 11:14am Feb 26, 2010 11:14am
Quoting lcfxtrader
Something you might look at...

Change stoch setting to 10 & 90

What for stoch to go above 90 and then enter short with the 1st bear renko candle that close below the 10 EMA as long as direction is in agreement with the 50 EMA and opposite for a long.
it is not a mad idea. It is posible to trade even using both parameters, but it is most important to follow the rules when you set them and not just to change them every week when you see last movements. It not ment to undervalue your ideas anyway
  • #36
  • Feb 26, 2010 8:41pm Feb 26, 2010 8:41pm
Is it possible to have renko bars without the wicks and only show open/close that is equal to 25 pips (or desired setting)?
Attached Image (click to enlarge)
Click to Enlarge Name: renko.gif Size: 57 KB
  • #37
  • Edited 11:57pm Feb 26, 2010 11:37pm | Edited 11:57pm
Quoting lcfxtrader
Is it possible to have renko bars without the wicks and only show open/close that is equal to 25 pips (or desired setting)?
sure it is, just set show wiks to false in setings
  • #38
  • Feb 26, 2010 11:43pm Feb 26, 2010 11:43pm
Quoting lcfxtrader
Is it possible to have renko bars without the wicks and only show open/close that is equal to 25 pips (or desired setting)?
what is box size on your chart, I see some diference from my chart. Probably 30?
  • #39
  • Feb 28, 2010 3:44pm Feb 28, 2010 3:44pm
why am I seeing only this much of the chart? how do I get more history data?
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 13 KB
  • #40
  • Feb 28, 2010 3:56pm Feb 28, 2010 3:56pm
[quote=criss73;3506393]why am I seeing only this much of the chart? how do I get more history data?[/quote

Delete 2M chart
Disable the EA on the 1M chart
Press home on your keyboard and load a few months of data
Enable EA
Reload 2M chart

See if this does it.
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