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Attachments: Goldflight's RENKO strategy
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Goldflight's RENKO strategy

  • #121
  • Aug 25, 2010 8:57am Aug 25, 2010 8:57am
Quoting pcguy007
Hi Goldflight, the timeframe indicator is called Synergy_MTF, sorry i can't post it since it is not a free source code indicator.

Check your pm.


thanks

Many thanks pcguy007. will give it a try.

Happy pipping...................
I AM WHAT I AM, AND THATS ALL THAT I AM
  • #122
  • Aug 25, 2010 9:55am Aug 25, 2010 9:55am
Goldflight, i also forgot to tell you that once the ADX cross happens and the timeframes line up i am placing a pending order 10 pips higher or lower to verify that the adx cross signals does what it is supposed to do.

My method is still a workin progress.
  • #123
  • Aug 26, 2010 1:13pm Aug 26, 2010 1:13pm
Quoting Goldflight
Blue lines are entries

Orange lines are exits
that is clear to me, but i want to ask, is there is any rule you set your TP? like you watch the pivot lines, or you close the trade on the first opposite candle?
And another question i have is this - when i look to your graphs, i see, that you enter the trady not on the end of the candle, how do you do this exactly?
THX for this system
  • #124
  • Aug 26, 2010 6:58pm Aug 26, 2010 6:58pm
Quoting Goldflight
Pull up navigator window, click on indicators (NOT CUSTOM INDICATORS),

Left click and hold on moving averages and drag to MACD.

enter 1EMA white, click on apply to, scroll down to FIRST INDICATOR DATA, click OK.

Do same for 3 EMA red.

You are a gentleman and a scholar. Thank you. Works fine now.
Batavier
Just trade the pullback you idiot!
  • #125
  • Aug 27, 2010 3:46am Aug 27, 2010 3:46am
Quoting hankeys
that is clear to me, but i want to ask, is there is any rule you set your TP? like you watch the pivot lines, or you close the trade on the first opposite candle?
And another question i have is this - when i look to your graphs, i see, that you enter the trady not on the end of the candle, how do you do this exactly?
THX for this system

Sorry Hankeys, i misunderstood your question. I realy dont have a rule for exits. Sometimes i exit on reversal of opposite candle if it had a good long run, and somtimes i just wait to see if it will come back and hit trail stop. Most of the time i kind of go by what i feel. Sometimes i am right and sometimes i am wrong.

On my charts the blue line is on the candle i took the trade (trade was taken at the opening of the candle with blue line). The close of the prior candle gave me the signal.

I hope this helps.

Happy pipping...........
I AM WHAT I AM, AND THATS ALL THAT I AM
  • #126
  • Aug 27, 2010 3:47am Aug 27, 2010 3:47am
Quoting Batavier
You are a gentleman and a scholar. Thank you. Works fine now.
Batavier

You are welcome..........
I AM WHAT I AM, AND THATS ALL THAT I AM
  • #127
  • Aug 28, 2010 4:13pm Aug 28, 2010 4:13pm
What are your settings for the Coral ind.?
  • #128
  • Aug 29, 2010 6:45pm Aug 29, 2010 6:45pm
thanks Goldflight. I will try your system. I hope to earn a pips.
  • #129
  • Sep 2, 2010 9:45am Sep 2, 2010 9:45am
Hello Goldflight,
How's it going?
As you know I'm an old renko scalper fan, thanks for starting your thread.
I'm starting to test a similar setup to your post #1, along side a few indis borrowed from the RTFG thread. I'll let you all know how it goes.
  • #130
  • Sep 2, 2010 10:08am Sep 2, 2010 10:08am
Why not post something so interested people can pitch in?

Meanwhile I have a question for you:
So far I have only been able to setup one Renko size on a specific pair.
Is there a way I can test another Renko brick setting on the same pair and on the same platform?
  • #131
  • Sep 2, 2010 10:12am Sep 2, 2010 10:12am
Quoting Freddyfx
What are your settings for the Coral ind.?
Hi Freddy, you might try playing the coral settings, i have been using coral with setting of 6 and adx setting of 8 and dmi setting of 13 plus i added a 197 exponential moving average to keep me on the right side of the trend.

it helps a little but i still am struggling to get it right, someday i will get it hahahhaa
  • #132
  • Sep 2, 2010 11:52am Sep 2, 2010 11:52am
Quoting Freddyfx
Why not post something so interested people can pitch in?

Meanwhile I have a question for you:
So far I have only been able to setup one Renko size on a specific pair.
Is there a way I can test another Renko brick setting on the same pair and on the same platform?
Hi Freddyfx,
Guess your question was for me.
I posted quite a few renko setups in the RTFG thread already, so I'm not really in a hurry to post something until I'm sure it works well. i.e. better than 50% winners.
You can use one of the renko ea chart makers that was converted to an indi to make about as many offline renko charts as you like from a single one min chart.
Here's a renko range bar version for example.
Attached File(s)
File Type: mq4 _KG_RenkoRangeBarsV1.2 R.mq4   14 KB | 823 downloads
  • #133
  • Sep 2, 2010 1:00pm Sep 2, 2010 1:00pm
Guess I am still doing something wrong.

So far I noticed that if I have 2 M2 charts of the same pair, one of the charts does not automatically update.
I use the EA s-Renko bars to create the M1 chart.

When I change the M1 chart setting to different brick size, the original one also changes.

So far I have solved that problem by opening another acct. and have the different Renko brick size on that one.
If there is an easier way, sure would like to learn.
  • #134
  • Sep 2, 2010 1:50pm Sep 2, 2010 1:50pm
Quoting Freddyfx
Guess I am still doing something wrong.

So far I noticed that if I have 2 M2 charts of the same pair, one of the charts does not automatically update.
I use the EA s-Renko bars to create the M1 chart.

When I change the M1 chart setting to different brick size, the original one also changes.

So far I have solved that problem by opening another acct. and have the different Renko brick size on that one.
If there is an easier way, sure would like to learn.
Open a M1 Chart... attached Renko Script ( ie:Eur/Usd RenkoBox Size 10 ,RenkoTimeFrame 2) then open offline M2 chart.
Open another M1 chart of EUR/USD, attached Renko Script with (for example) RenkBox Size 20, RenkTimeFrame 5, open offline M5 chart.
  • #135
  • Sep 2, 2010 2:49pm Sep 2, 2010 2:49pm
Quoting pcguy007
Hi Freddy, you might try playing the coral settings, i have been using coral with setting of 6 and adx setting of 8 and dmi setting of 13 plus i added a 197 exponential moving average to keep me on the right side of the trend.

it helps a little but i still am struggling to get it right, someday i will get it hahahhaa
SUPERB, buddy.
I changed the settings to yours and can only report that is looks like a better setup to take a trade decision on.
coral 6 and ADX 8 and TDI 13

the EMA197 is not really doing it for me, Goldflight's earlier setup using the SMA14 levels give me a better indication.

I will keep experimenting with this for now and await a more active EU market.

Thanks for the input.
  • #136
  • Sep 2, 2010 3:05pm Sep 2, 2010 3:05pm
Quoting stroker70
Open a M1 Chart... attached Renko Script ( ie:Eur/Usd RenkoBox Size 10 ,RenkoTimeFrame 2) then open offline M2 chart.
Open another M1 chart of EUR/USD, attached Renko Script with (for example) RenkBox Size 20, RenkTimeFrame 5, open offline M5 chart.
................and so we keep learning every day.
Should have been able to figure this out on my own,

Thank you, amigo.
  • #137
  • Sep 2, 2010 3:31pm Sep 2, 2010 3:31pm
Quoting Freddyfx
SUPERB, buddy.
I changed the settings to yours and can only report that is looks like a better setup to take a trade decision on.
coral 6 and ADX 8 and TDI 13

the EMA197 is not really doing it for me, Goldflight's earlier setup using the SMA14 levels give me a better indication.

I will keep experimenting with this for now and await a more active EU market.

Thanks for the input.

ya we are all hunting for the best settings for a better entry and exit, the quest for perfection continues..... hahahah
  • #138
  • Sep 2, 2010 4:51pm Sep 2, 2010 4:51pm
Quoting Freddyfx
................and so we keep learning every day.
Should have been able to figure this out on my own,

Thank you, amigo.
If you use the indi version, you can attach as many as 4 or 5 renko ind chart makers to the single one min chart, just have to give each on a different offlne chart number to use that isn't a default MT4 timefame.

To make it easier to remember which is which, I sometimes open a 4 pip chart on 4M timeframe which MT4 doesn't use.
Open a 8 pip renko chart on 8Min offline time frame...
14 on 14 etc...
Don't think I'd try to open any on 5Min since MT4 uses that one so it may actually overwrite your 5 min candles sticks, but if your not using the 5 min time frame guess it shouldn't hurt anything, but only time I'd do that if I was trying to generate renkobars in the backtester but is up to you.

I don't like to script version for everyday use, because I think it will fall off the one min chart every-time you restart MT4.
  • #139
  • Sep 3, 2010 5:37pm Sep 3, 2010 5:37pm
Hi Goldflight, I experimented this morning with NFP trading I have to say i did pretty well.
I used 4renko, 8renko, 8renko and a 1 minute chart.
I added an ADX, DMI the coral indicator and a 197 exp. MA
i took about 90 pips in less than 5 mintues once i saw it retrace i got a little shakey and took my profits early, I only gave up 10-15pips.

I just with the renko bar was a true bar of 4 or 8 or 16 pips

happy pips!

sorry about not posting the picture but the size was too big, i attached it another way.
Attached File(s)
File Type: doc nfp.doc   248 KB | 614 downloads
  • #140
  • Sep 6, 2010 12:01pm Sep 6, 2010 12:01pm
Quoting Goldflight
More Screen shots.

This seems like a really good sysytem and you seem to be having allot of joy with it too.

Please can you kindly exaplin to me how do i get the renko m2 chart up im a bit of a newbie. I have installed the template that you posted up on the post 35 but i dont understand the renko m2 chart.

I along with others viewing this tread would be so happy for the instuctions
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