The instructions on how to do this are on posting 990
Trading Renko 1,131 replies
RENKO Trading SYSTEM - RENKO Indicators 7 replies
Market Makers or Market Gamers? 0 replies
Renko Trading Journal 28 replies
DislikedIt'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.Ignored
DislikedSorry for my insistence, but even with your template I can not get that modified FIBO projection. Do you maybe have the instructions to set it manually?
DislikedNo sorry I don't know exactly how, I do remember some time ago someone in a different thread gave instructions on how to at least make the price show at each fibo line but not all the s/r buy/sell & TP lines.
Try this template on USDCAD 1hr chart & I think you'll have it since I have nothing else on this template.
Then after you load the template on a plain USDCAD hr chart, open any other H1 chart & see if you can draw the same type of manual fibo lines.
Sorry I didn't see your post earlier, I just logged into FF again since last time.Ignored
I found out that the values coral high/low are generated by the indicator "3 spr sl". But what do they mean?
But the Stop loss and Take profit display in the upper left corner is not generated by this indicator. And also in the code of the other used indicators I was not even able to find any source code how they are generated...
Can somebody give me a short explanation??
Thankx and best regards,
Do you use any other Renko indicators--or is that all you use on your chart? Also are you on M1 for the Eur/USD? Pls. give more details. Thanks,
(Will be checking out your suggested system and will comment back later)Ignored
DislikedReally, all you need is the StepChart 3.2 EA to create your renko chart, and yes you drop it on a 1M chart. The screenshot above is with a 25 pip brick size.
I would "love" to create a very simple EA to test out this crazy theory but for some reason none of my trading EA's are working with IBFX right now and I cant seem to figure out why. (Tried ECN/Non ECN settings, adjusted for new 5 digit, etc... bah!!)Ignored
DislikedThink about your StopLoss and your estimated TakeProfit and you know, why this won't work...!Ignored
DislikedHello Zara and welcome to the thread
System sound good but you must test that.If i have time i will join you with tests..Ignored
Here are all parts of my system. As someone mentioned, it is combination of THV system with my own indicators.
Rules are very simple:
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.
Iím 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 is...Ignored
DislikedJust to take your initial chart...
First candle is bull (only half seen) - then follows bear-Candle and we go short
Candle reverses = -50Pip
Enter long = 25Pip
Enter short = -50Pip
Enter long = 25Pip
Enter short = 25Pip
Enter long = 25Pip
All in all your chart provided ZERO Pip ( not including spread yet )!
Maybe you should widen your TP?Ignored
Dislikednighthawk welcome to the thread
And i must say to you i must drink your Avatar now
Cheers and happy tradingIgnored