Renko Stoch TS

Is the renko candle suppose to show the wicks when it is forming when the "show wicks" setting is false?

I pressed "home" on my keypad and nothing happened.




[quote=lcfxtrader;3506416]

I got it



[quote=criss73;3506540]I pressed "home" on my keypad and nothing happened.

you can easily swith to 30 min or 1h ime frame on your first chart where your ea is put on, it will help

valid trade today ,just without me

If someone don`t like the stoch indicator no need to use it. Just if the averages are as they have to be all you need to look at is two consequtive bars with the trend. But there allways has to be minimum two bars that retrased before it . So when you find two bars up and then two bars down it is a valid entry for sell, if the ema`s agree. Take a look at the last chart I uploaded.

An EA sure would be nice for this renko system. Hard to know when a candle closes without watching around the clock.

candle closes at certain price so it is posible to use pending orders

If the renko candle is set to 25 pips, is a reversal candle equal to 25 pips or is it double that amount at 50 pips?

Yes, it is double size. If the bar is set to 25 then it needs 50 pips to drow new bar of oposite direction.

A new trade entry posible when second blue renko box compleate and price reach 1.3625 level, it will be my trade trigger. Trade on your own risk

Trigger to go what - long or short ?

You should at least read first post and you would understand. Anyway it is up.

60 easy pips, were made. Good while it works

When I say it is good while it works, I am kind of sarkastic over my strategy, yes be realistic this strategy do not have any adaption abilities, unless you self do something. So it can be that such strategies have periods where they stop working for some time or maybe even for ever. But it can also work for long time(in some reasonable grade) . Just my realistic point of view, there is no holy grail and never fall asleep while trading with any strategy.

If you don't want to sit in front of the screen for hours you might find the fractal alarm useful. I enter on a fractal which will always be the second color change brick on a reverse.

I've marked the potential entry points. I use 10 pip bricks and only trade E/J.

I also use partial closes. My personal choice is to use a 30 pip SL and close 60% of my position at 15 pips profit, move SL to B/E at 20 pips, close 50% of the remainder at 30 pips and move SL to +10 and close the final 25% at 40 pips.

Ho Slushfund, Are you using anything else besides Renko and Fractals, can you tell us the setup of your chart, thanks

That's all I use. The fractal alarm is just to alert me that there may be a trade. I trade the reversal and enter on the second renko brick after the reverse.

However I wait to get a sense of price action before entering. I use 10 pip bricks because price is going through the important 00 psych levels. Sometimes there will be a quick retracement when it hits this level. At other times you will see price pushing ahead. If it's pumping I go in. Otherwise wait for a continuation of any retracement.

I use a partial close EA to manage the trade. The 30 SL is worst case. I close the trade if I get a 2 brick reversal which would also be a valid entry the other way.

I only trade E/J but look at G/J and A/J to check correlation of the yen pairs.

I don't see the need to use any other indicators.

I only trade from Frankfurt opening (one hour before London open) or after open of NYSE (0930 ET)

I'm happy with one trade a day. That's 1% a day in account terms if it gets to 15 pips profit on a 60% close and then stop out at B/E. If it goes all the way to 40 pips scaling out as I mentioned in my previous post that would be about 2.5%.

My silly renko str stil makes some trades sometimes. I my admit I got only 16 pips of this trade. Yes sometimes it is best to just leave as it is with initial sl and tp. But it is a crime to let a wining trade become a loosing one. So it is ok.

A new buy oportunity is nearing at 1.3725, when two blue bars forms. Still not a trade advice.