Renko Trading For Gamers (RTFG) | Page 55 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Renko 1,136 replies

RENKO Trading SYSTEM - RENKO Indicators 7 replies

New Renko Bar and Reversal Renko Bar Indicator Alert Help Please 5 replies

Market Makers or Market Gamers? 0 replies

Renko Trading Journal 28 replies

Attachments: Renko Trading For Gamers (RTFG)
Exit Attachments

Renko Trading For Gamers (RTFG)

  • #1,081
  • Edited 4:36am Jul 13, 2010 2:02am | Edited 4:36am
NEWS TRADING
Tuesday, July 13 2010
[4:30am NY Time - 10:30am GMT + 1:00]
We'll be trading the UK Consumer Price Index (CPI) release at 4:30am
NY Time today. We'll be looking at the yearly release figure and
the market could react with lots of volatitility as CPI is the basic
measurement of Inflation, therefore expect to see more exaggerated
moves if we get a huge surprise in the release. Here is the
forecast for this release:
UK CPI y/y Forecast 3.2% Previous 3.4%
ACTION: GBP/USD BUY 3.6% SELL 2.9%
We are looking for a safe deviation of 0.3% for SELL and 0.4% for
BUY. If the Inflation number increases to of 3.6%, which is way
above BOE's inflation target, we will BUY of GBP/USD. If the
Inflation number decreases to 2.9% or less, we'll look to SELL
GBP/USD. Historically, even with a slight difference of 0.1%, market
usually overreacts. If our deviation is hit, there is a strong
possibility that the market will move 50 pips immediately.


I'll be looking more to SELL GBP than to BUY GBP due to the current
market sentiment; therefore, I recommend only BUY GBP if we get a
huge surprise on the CPI to the upside.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2010-07-13_0857.png Size: 75 KB
Click to Enlarge Name: 2010-07-13_1132.png Size: 80 KB
Click to Enlarge Name: 2010-07-13_1128.png Size: 33 KB
  • #1,082
  • Jul 14, 2010 3:00am Jul 14, 2010 3:00am
NEWS TRADING
Wednesday, July 14 2010
[8:30am NY Time - 14:30 GMT + 1]
We'll be getting the Core Retail Sales (and Retail Sales) figure out
of U.S. today, as high impact news releases are concerned, Retail
Sales makes up about 2/3 of U.S. GDP... Here's the forecast:
US Core Retail Sales Forecast 0.0% Previous -1.1%
ACTION: USD/JPY BUY 0.6% SELL -0.6%
Since we have both Retail Sales (Headline and Core, also known as ex
auto) scheduled to be released at the same time, we should
concentrate on the Core Release as it's a better picture of the
retail activities. However, it's important to make sure there is no
conflict between both releases or we should just stay out of the
market until a new direction has been established.
The plan to trade this release is straight forward. We are going to
wait for 0.6% of release or better to BUY USD/JPY (sell JPY), or a
-0.6% or worse to SELL USD/JPY (buy JPY)... If we get a in-between
release, we'll need to look at the pre-release market condition in
order to make a decision, or just stay out of the market altogether.


If we get a surprise better than
expected release, we should see a strong weakness in the JPY, which
should give us a great trade on LONG USD/JPY. If we get a worse than
expected release, JPY should strengthen and may push beyond the
88.00 level and retest the 87.00. Of course instead of trading
USD/JPY, you could trade other pairs such as GBP/JPY or AUD/JPY,
both pairs should move parallel to USD/JPY but may provide more
profits.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2010-07-14_0957.png Size: 65 KB
Click to Enlarge Name: 2010-07-14_0949.png Size: 22 KB
  • #1,083
  • Jul 14, 2010 3:30am Jul 14, 2010 3:30am
Quoting desander
NEWS TRADING
Tuesday, July 13 2010
[4:30am NY Time - 10:30am GMT + 1:00]
We'll be trading the UK Consumer Price Index (CPI) release at 4:30am
NY Time today....

Good post my friend

I see you want to be News trader ,wish you good pips...
"Buy on fear, sell on greed !!!
  • #1,084
  • Jul 14, 2010 3:49am Jul 14, 2010 3:49am
Quoting Petar_Serbia
Good post my friend

I see you want to be News trader ,wish you good pips...
Thanks Petar.

Btw, what is the currency pair icon-link on the left bottom in your post ?
(EUR/JPY)

Gilbert.
  • #1,085
  • Jul 14, 2010 10:57am Jul 14, 2010 10:57am
Quoting desander
Thanks Petar.

Btw, what is the currency pair icon-link on the left bottom in your post ?
(EUR/JPY)

Gilbert.
Gilbert,

I think your referring to his FF trader sentiment.
http://www.forexfactory.com/sentiment.php

It has some filter options if anyone would like to try a few swing trades etc using this Forexfactory feature, and posting results of trades here it would be greatly appreciated.
I'd recommend using at least a 1 vouch filter, but if trades are made without or without a filter plz note it in trade/post.
  • #1,086
  • Jul 14, 2010 7:30pm Jul 14, 2010 7:30pm
Hey,
I finally learned enough about MQL4 to hack a MACD indi into doing something new, that I wanted it to do.

It looks a lot better with the chart zoomed in closer just wanted to try to get a couple of visual back-test trades in the screen shot for you all to see.

This is on 34 pip renko range bars, not a regular renko chart by the way.
Attached Image (click to enlarge)
Click to Enlarge Name: ! # tight congestion breakouts.gif Size: 31 KB
  • #1,087
  • Jul 15, 2010 1:46am Jul 15, 2010 1:46am
Quoting 45Fxguy
Hey,
I finally learned enough about MQL4 to hack a MACD indi into doing something new, that I wanted it to do.

It looks a lot better with the chart zoomed in closer just wanted to try to get a couple of visual back-test trades in the screen shot for you all to see.

This is on 34 pip renko range bars, not a regular renko chart by the way.
And do you want to publicly share this indicator?
  • #1,088
  • Jul 15, 2010 3:21am Jul 15, 2010 3:21am
NEWS TRADING
Thursday, July 15 2010
[6:45pm NY Time - 0:45 July 16 GMT +1]
We'll be trading the Consumer Price Index (CPI) figure out of New
Zealand today. CPI is Inflation, therefore it is a very high impact
release. Here's the forecast:
NZ CPI q/q Forecast 0.5% Previous 0.4%
ACTION: NZD/USD BUY 0.8% SELL 0.2%
Our focus will be on the headline CPI number. If we get a better
release of 0.8%, we should be looking to BUY NZD/USD; if we get a
lower release 0.2%, then we'll see NZD/USD move down. Usually if our
BUY or SELL figures are hit, we could expect the market to move
about 40~50 pips within the next 30~90 minutes.


One last note: NZD is a very slow moving currency and at the time of
this release we are likely to experience low liquidity. We may have
to give this trade a little more time for it to develop, if we get
our buy or sell figures.


Gilbert.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2010-07-15_1016.png Size: 49 KB
Click to Enlarge Name: 2010-07-15_1018.png Size: 26 KB
  • #1,089
  • Jul 15, 2010 8:19am Jul 15, 2010 8:19am
Quoting desander
And do you want to publicly share this indicator?
Sure, just wanted see if there was any interest first.
I don't post any info on eas or indis that I can't or am not willing to share here.

I'm just trying to a relabel the indi window to show which time fame the chart is applied to first then I'll post all the indis, and template seen in the screen shot for forward demo test.

The original macd I think is pretty generic code & open source so don't think I'll violating any copy-writes etc buy reposting my revision of it for renko.

I was looking at the code of the fancier MACD color v105 indi and I'll probably try making a version from it too, but it will take a lot more time to tweak the code.
  • #1,090
  • Jul 15, 2010 9:39am Jul 15, 2010 9:39am
I recommend this be demo forward tested on 34 pip renko range bars with the wicks on.
Attached Image (click to enlarge)
Click to Enlarge Name: ! # tight congestion breakouts.gif Size: 22 KB
Attached File(s)
File Type: zip ! # tight congestion breakouts.zip   26 KB | 581 downloads
File Type: mq4 RenkoRangeBarsV1.2.mq4   13 KB | 558 downloads
  • #1,091
  • Jul 15, 2010 9:40am Jul 15, 2010 9:40am
Quoting 45Fxguy
I recommend this be demo forward tested on 34 pip renko range bars with the wicks on.
Your chart looks good ,hope you will get TP ...
"Buy on fear, sell on greed !!!
  • #1,092
  • Edited 10:55pm Jul 15, 2010 9:43am | Edited 10:55pm
Quoting Petar_Serbia
Your chart looks good ,hope you will get TP ...
Thanks Petar!

Update on that demo trade, it's not dong very well right now but since the NZDUSD is reaching new recent highs I opened up the SL in the event that it may turn down again soon, by looks of the visual chart history maybe 9 out of 10 times after a congestion line is broken the trend will resume in that direction if not on the very next range line the one after it.
May should have added this MA cross alert signal arrow to the template before the trade was open or/& I may would have thought twice about opening it. It is a very small demo test trade so no worries. Maybe I should have also had a strength meter opened at the time too.

Was anyone following it at the time, with the xMeter etc?
If so, what have the numbers been showing lately on NZD & USD?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ! # tight congestion breakouts pic 3.gif Size: 27 KB
Click to Enlarge Name: ! # tight congestion breakouts pic 4.gif Size: 60 KB
Attached File(s)
File Type: mq4 2MA Crossover.mq4   7 KB | 479 downloads
File Type: tpl ! # tight congestion breakouts.tpl   6 KB | 390 downloads
  • #1,093
  • Jul 16, 2010 1:39am Jul 16, 2010 1:39am
Quoting 45Fxguy
Thanks Petar!

Update on that demo trade, it's not dong very well right now but since the NZDUSD is reaching new recent highs I opened up the SL in the event that it may turn down again soon,...
In annex the conduct of this pair USD/NZD after the news release.
Besides, what FIBO indicator do you use on your latest screenshot?

Gilbert.
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-07-16_0828.png Size: 118 KB
  • #1,094
  • Jul 16, 2010 3:44am Jul 16, 2010 3:44am
Quoting desander
In annex the conduct of this pair USD/NZD after the news release.
Besides, what FIBO indicator do you use on your latest screenshot?

Gilbert.
It's not an indi, just manually drawn from the "Line Studies", MT4 tool box.
I got the Fibo settings/setup from Steve Hopwoods Fibo ea, & saved it my template for future use. If you download & use one of my last templates you should be able to us it the same way without having to set it up manually.
I just drew the line from the highest recent high to the lowest, bottom of brick on the chart.
  • #1,095
  • Jul 16, 2010 3:48am Jul 16, 2010 3:48am
Quoting 45Fxguy
It's not an indi, just manually drawn from the "Line Studies", MT4 tool box.
I got the Fibo settings/setup from Steve Hopwoods Fibo ea, & saved it my template for future use. If you download & use one of my last templates you should be able to us it the same way without having to set it up manually.
I just drew the line from the highest recent high to the lowest, bottom of brick on the chart.
OK, thanks buddy !
  • #1,096
  • Jul 16, 2010 11:56am Jul 16, 2010 11:56am
Quoting desander
OK, thanks buddy !
Sure anytime...
  • #1,097
  • Edited 2:27pm Jul 16, 2010 12:03pm | Edited 2:27pm
Here's how the NZDUSD demo trade ended.
Should have left the tp much high but guess I kinda chicken out since there was a complete opposite signal in the middle, but it still took 15 pips.

Ideal for the MA cross alert & tweaked MACD I took from this indi since it looked so good on 34 pip renko visual back test.
Thought I'd post the original too since it may have less lag on the alert signal etc than the other 2ma cross indi that I posted last time.
Attached Image (click to enlarge)
Click to Enlarge Name: ! # tight congestion breakouts pic 5.gif Size: 54 KB
Attached File(s)
File Type: mq4 IINWMARROWS.mq4   4 KB | 517 downloads
  • #1,098
  • Jul 17, 2010 3:31am Jul 17, 2010 3:31am
Quoting 45Fxguy
It's not an indi, just manually drawn from the "Line Studies", MT4 tool box.
I got the Fibo settings/setup from Steve Hopwoods Fibo ea, & saved it my template for future use. If you download & use one of my last templates you should be able to us it the same way without having to set it up manually.
I just drew the line from the highest recent high to the lowest, bottom of brick on the chart.
I have some difficulty with the settings of that fib display.
Could you tell me how to adjust those settings?

Thanks for the effort.
Gilbert.
  • #1,099
  • Jul 17, 2010 7:17am Jul 17, 2010 7:17am
Here version indicators Xmeter, hope helpful
Attached File(s)
File Type: mq4 !xMeter v 1.3 Indy.mq4   19 KB | 658 downloads
  • #1,100
  • Jul 17, 2010 11:02am Jul 17, 2010 11:02am
Quoting Mihailo
Hi !


Here are all parts of my system. As someone mentioned, it is combination of THV system with my own indicators.

Rules are very simple:

Short:

1. Pa must be nearly under Cloud and Coral.
2. There must be two of three red lights on indicators in the bottom of the chart.
3. If you have target on 10 to 20 pips, avoid trading around news - 20 minutes before and 20 minutes after.

Long - opposite.

I’m trading on 3 pairs GBPUSD, EURUSD and EURJPY.

As you see, there are 2 charts for each pair on my platform. One is 5pips/candle and other...
Hi Mihailo, how are you?

Nice looking system youve got there, would you be able to post some example screenshots of entries and exits.

Do you use MT4 or a different platform as Im not really understnading what you mean by 5 and for 13pips chart- what timeframes are these M5 & M15 o something different available on another platform?

"You need to open 2 offline renko charts for each pair 2minutes and 3minutes. One is for 5pips/candle and one for 13pips/candle" Could you explain this, where can I get these from please?

many thanks
3 traders viewing now