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50 pips candle system

  • #921
  • Apr 20, 2010 11:49am Apr 20, 2010 11:49am
Quoting Saintsurfer
My first g/j trade with 250 bars will be posibly trigered today to the short side when/if it goes as low as 140.0
hey my trade finished with nice 250 pips loss, lets take it as it is
  • #922
  • Apr 22, 2010 4:21pm Apr 22, 2010 4:21pm
Quoting Saintsurfer
hey my trade finished with nice 250 pips loss, lets take it as it is
Anyone trading anything with any methods in here or everybody is dead scared of losses I resently declared
Actualy i mised the entry for gbp/usd 100 GG patern, but it even retraced to below normal entry so I could enter at more atractive price 30 pips below 1.5400. With better RR. But sure nothing is guarantied yet.
  • #923
  • Apr 23, 2010 5:00am Apr 23, 2010 5:00am
Quoting Saintsurfer
Anyone trading anything with any methods in here or everybody is dead scared of losses I resently declared
Actualy i mised the entry for gbp/usd 100 GG patern, but it even retraced to below normal entry so I could enter at more atractive price 30 pips below 1.5400. With better RR. But sure nothing is guarantied yet.

Hi,

I am still trading it. I caught the last short trade on GU, which ended with a win on Monday. Currently I am in on the last long since Tuesday. It was at +72 at best, but now it's at -39, so I am waiting and hoping for the best.

Regards

Archie
  • #924
  • Apr 29, 2010 2:44am Apr 29, 2010 2:44am
Hi everyone! I have this EA -RenkoRangeBarsV1.2 as attached which is working absolutely fine. The only problem is, it cannot open or close a trade automatically.

If it is GG, then it should execute a buy order. If it is RR, it should execute a sell order. If the candle size is 50 pips, then the take profit should be 50 pips and stop loss should be also 50 pips. Lot size will be 1 lot.

Appreciate, if anyone could kindly help me on this. Maybe modify or edit a few scripts from the MetaEditor.

Looking forward from you guys.

Thank you.

Regards,
Michael
Attached File(s)
File Type: mq4 RenkoRangeBarsV1.2.mq4   13 KB | 757 downloads
  • #925
  • Jun 10, 2010 8:47pm Jun 10, 2010 8:47pm
Been studying all posts on this thread and it is very confusing and I am not the brightest candle anyway. No pun intended.

Can someone make one post with all the attachments needed? (just the ones that are working? EA, Indicators, etc. and briefly explain how and where to load.)

I am a somewhat of a newcomer, but not totally new...been losing trades for awhile.

p.s. please don't tell my wife I am still trading.
  • #926
  • Jun 11, 2010 12:05am Jun 11, 2010 12:05am
Quoting Michael Deys
Hi everyone! I have this EA -RenkoRangeBarsV1.2 as attached which is working absolutely fine. The only problem is, it cannot open or close a trade automatically.

If it is GG, then it should execute a buy order. If it is RR, it should execute a sell order. If the candle size is 50 pips, then the take profit should be 50 pips and stop loss should be also 50 pips. Lot size will be 1 lot.

Appreciate, if anyone could kindly help me on this. Maybe modify or edit a few scripts from the MetaEditor.

Looking forward from you guys.

Thank you.

Regards,
Michael...
dude, renkorangebar ea doesnt take any trades.. it is used to convert your regular bar charts into renko..
  • #927
  • Jun 11, 2010 2:01am Jun 11, 2010 2:01am
well am dealing with 1H chart with 18 EA, and try to understand the Fibonacci Retracement 23.6 level and don't go for the market let the market come to you.. ..try to take 30 to 40 pips have fun
am begninger too but its works
  • #928
  • Jun 11, 2010 2:03am Jun 11, 2010 2:03am
how you will know that is the high and there was the low,, are you calculating by day , H, or mints?

Quoting kesterpogz
dude, renkorangebar ea doesnt take any trades.. it is used to convert your regular bar charts into renko..
  • #929
  • Jun 11, 2010 2:26am Jun 11, 2010 2:26am
Quoting alfalasi
how you will know that is the high and there was the low,, are you calculating by day , H, or mints?
renko bars doesnt concerned with the time. it is PA(price action) that concerns the renko bars.. below is an example of a renko bars.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD-2010-06-11-15-43-30.jpg Size: 52 KB
  • #930
  • Jun 11, 2010 2:48am Jun 11, 2010 2:48am
OP says you need a pencil and paper. You don't even need that. Just look back on your chart and see what the last 2-3 50 pip swings were. Proceed where it left off.
  • #931
  • Jun 13, 2010 5:04pm Jun 13, 2010 5:04pm
Quoting Michael Deys
Hi everyone! I have this EA -RenkoRangeBarsV1.2 as attached which is working absolutely fine. The only problem is, it cannot open or close a trade automatically.

If it is GG, then it should execute a buy order. If it is RR, it should execute a sell order. If the candle size is 50 pips, then the take profit should be 50 pips and stop loss should be also 50 pips. Lot size will be 1 lot.

Appreciate, if anyone could kindly help me on this. Maybe modify or edit a few scripts from the MetaEditor.

Looking forward from you guys.

Thank you.

Regards,
Michael...




can't seem to get this to attach to my chart...I put it in experts/indicators folder then tried to attach...can anyone help?


thanks
jacob
  • #932
  • Jun 13, 2010 10:19pm Jun 13, 2010 10:19pm
Quoting losingtrades
can't seem to get this to attach to my chart...I put it in experts/indicators folder then tried to attach...can anyone help?


thanks
jacob
this file should go to your mt4/experts folder, not to the indicators folder!,then you open a 1M chart and attach this renko file to this chart,after that you must open a ofline M2 chart
Money is made by sitting, not trading. Jesse L. Livermore
  • #933
  • Jun 14, 2010 8:56am Jun 14, 2010 8:56am
Quoting sam69
this file should go to your mt4/experts folder, not to the indicators folder!,then you open a 1M chart and attach this renko file to this chart,after that you must open a ofline M2 chart
thanks sam...working now...testing 38 points also. i seem to get more opportunities.

How do we setup an alert for this?


br/jacob
  • #934
  • Jun 15, 2010 1:35pm Jun 15, 2010 1:35pm
Quoting losingtrades
thanks sam...working now...testing 38 points also. i seem to get more opportunities.

How do we setup an alert for this?


br/jacob

have done some stats work...take it with a grain of salt because I lose more than I win

two scenarios with this system (thanks Zeb)...one using Zeb's 50 point suggestion and one using 38. I arrived at 38 just randomly as it came to my head, but I am sure there is a much more optimum number than 38 (maybe even 50)


Stats for 50 points move:

1 candle only (with next candle reverse)...15 occurrences
2 candles (with third candle reverse).........8 occurrences
greater than 2 candles............................6 occurrences


Stats for 38 points move:

1 candle only (with next candle reverse)...29 occurrences
2 candles (with third candle reverse)........14 occurrences
greater than 2 candles...........................12 occurrences


stats are from mid-may.

My goals are to achieve 10 pips per trade. At first glance, seems like it is breakeven all around. Maybe Zeb can chime in on how he is doing?

Also, I cannot measure PA at the beginning of each new candle which can only increase the win percentage if stop losses are at 38 or 50 (w/o spread). Another thing is that some greater than 2 candles were three and four candles increasing pips if one holds the order open.

I will continue to study this to achieve a better profit ratio.

  • #935
  • Jun 20, 2010 2:34pm Jun 20, 2010 2:34pm
Seems that GBP/JPY method using 250 pips bar size and GG, RR with 150-200 sma filter on 4H time frame is still working.Best with 200 sma filter. Ok a little bit boring trading style but stil profitable. This year seven trades five wins and two losses. 750 pips.
  • #936
  • Jun 20, 2010 2:49pm Jun 20, 2010 2:49pm
Quoting Saintsurfer
Seems that GBP/JPY using 250 pips bar size and GG, RR with 150-200 sma filter on 4H time frame is still working.Best with 200 sma filter. Ok a little bit boring trading style but stil profitable. This year seven trades five wins and two losses. 750 pips.

In my thoughts (just me now), when trading becomes boring, it is best time to trade...when things are exciting, I seem to enter into too many bad trades.


I have been testing UJ at 22 pips bars, and EJ/GJ at 38 pips bars.

Live trading with this system will begin this week. I have spent the last week only watching the PA after a new bar has opened. Just about every time, the PA continues in the direction of the previously closed bar even if the new bar closes in the opposite direction.

My goal is to achieve 5 pips only (at high lots) at each new bar opening in the same direction. It appears that one can obtain at least 10 trades per day using these three pairs.
  • #937
  • Jun 20, 2010 2:49pm Jun 20, 2010 2:49pm
the best think is that it doesen`t take much time to trade this method, no need for the ea simply set pending orders and you will never miss a trade. The bad side is that it is hard to have a 250 pips SL and take such a loss at times, but it at least pays off so far.
  • #938
  • Jun 20, 2010 2:52pm Jun 20, 2010 2:52pm
Quoting losingtrades
In my thoughts (just me now), when trading becomes boring, it is best time to trade...when things are exciting, I seem to enter into too many bad trades.


I have been testing UJ at 22 pips bars, and EJ/GJ at 38 pips bars.

Live trading with this system will begin this week. I have spent the last week only watching the PA after a new bar has opened. Just about every time, the PA continues in the direction of the previously closed bar even if the new bar closes in the opposite direction.

My goal is to achieve 5 pips only (at high lots) at each...
I may be open to say that I don`t understand how you trade with this method...
  • #939
  • Jun 20, 2010 2:58pm Jun 20, 2010 2:58pm
Quoting Saintsurfer
I may be open to say that I don`t understand how you trade with this method...

My method is different from the main in the first post but also similar. I downloaded in Renko version 1.2 ex4 file on one of the posts. then i applied it to M1's for UJ, EJ, GJ, then opened M2 offline charts for each and watch the bars.

try it out and always watch the direction of the PA after each bar closes.

I am not one for looking for large pip gains...just small ones at
higher lots. if you need help, just PM me.

Jacob
  • #940
  • Jun 20, 2010 3:08pm Jun 20, 2010 3:08pm
ok I see a little bit more now. Anyway I am not a scalper so maybe not for me. Anyway good luck.
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