Goldflight's RENKO strategy

Gone short on GBPUSD.................

Looks like im going to have my ass handed to me on this one. Oh well. Got to go to a Dr. appointment now so i am going to let them run and see what happens. Ill be back in a few hours............

Im back, GU came back just far enough to hit my S/L. EU still running so i will see if i cant recoup my losses.

Got my 50 pip loss back +2 pips to spare. Calling it a day. See if i can do better tommorow.

Happy Pipping........................

Hello Goldflight. I have modified the GFsignals indicator to reflect your new thinking on the ADX cross. You will see a new boolean parameter in the input block called 'DIcross'. If set to 'true', the ADX signal will change when DI+ and DI- cross. If the signal is long, DI+ must be > DI- and > the previous DI+ bar. If the signal is short, DI- must be > than DI+ and > the previous DI- bar. If DIcross = false, then DIthreshold controls the signal level as before.
I have added a new set of parameters to specify up to two signal time windows. If 'TimeWindowEnable' = 'true', you can enter one or two time windows as hourly start and hourly stop times. The Gfsignalv1.1 signals will only appear during these windows. The time windows are specified as "Server Time" in interger hours (no minutes). I have found this helpful to me during the night when I only want to monitor trades when something is happening. I live in US EST, and the London open is at 2am. When I was younger, I could stay up all night and still function. Now it has become a problem for me. So I set time windows one hour before the London open until aroung 7am EST, and a second time window for the NewYork open. I then set email alerts, and get up in the middle of the night if I get an alert on my cell phone.
Good trading.

Thank you EasyRyder for the modifications to this indie. I will put it on my charts and test it .

Thanks again for your hard work. Goldflight........

Not such hard work, really. Once ones gets the framework stable, it becomes an easy matter to modify things. If there are changes that you would suggest, please don't be afraid to do so.

Good moring Goldflight,

And a stunningly beautiful morning it is here in Brisbane this Sunday. My first ever post on FF (I just signed up), although I have been an observer for quite some time.

I recently shifted to a new Broker and the MT4 platform (from GFT) so are not yet 100% familiar with scripts, indicators, experts, etc, etc and are going up the learning curve. I have traded before and have also traded Renko before, and love them.

I have three uninformed questions about the AFX_Trailing file you have generously provided, and I apologise before hand if you have answered them already.

1) Is it a script and therefore should be loaded in scripts folder?
2) How do I change the parameters? I note it is set by default to a proportional lot size (0.1 I think). I trade full lots (and at times multiple full lots) so need to change the lot parameter and I would like to try different settings for different crosses.
3) I am with a 5 digit broker. Therefore, do I need to add a zero to all pip values, when I work out how to change them?

I currently have it in the scripts folder, but when I drag it onto a chart it does not give me any options to adjust the parameters.

You have a great trading methodology going here and it is very generous of you to share it and support it in the way you are and have. As I said, this is my first post on FF (which is probably why its so wordy) although I am not new to trading. When I get a little more familiar with MT4, (plus get a few more posts on FF) I hope I can provide something of value back to you and the thread.

Kind regards
Neal

Welcome Neal, Happy you can join us and thank you for your kind words. MT4 does take a little time to get used to. Just ask when you have questions and someone will be happy to help.

(1). AFX goes in your experts folder. To install as an EA :

1. Place the mq4 code in the Experts directory.

2. Make sure to check the "Allow DLL imports" and "Allow import of external experts" boxes (both of them) are checked. they are under the Saftey section of the Common tab

3. Also check the "Allow live trading" box in the Live Trading section of the Common tab. Also make sure the Expert Advisors button is depressed in the Gui. When everything is good a smiley face will appear in the upper right hand corner.

(2) To change the settings, just double click on what you want to change, then type in new setting, then click on save, then OK.

(3) Yes for 5 digit broker you must add a zero.

I hope i was able to help. Happy Pipping

Goldflight......................

Hi goldflight,

which version of GFsignals indi do you recommend (default)? At the moment I can´t test because I have some problems with my pc.

Best regards!

Many thanks for the clear explaination Goldflight. Help a lot.

Regards
Neal

I have been using EasyRyders latest version. But it is still to much for me to try and keep up with so many pairs, so i have decided to stick with only 2 pairs. EURUSD and GBPUSD. These are the only pair i am going to trade for now.

Happy Pipping..............

You are welcome.

Hi GoldFlight, Please, it`s possible to change or set the clock of advisor(news)? I have a problem with summer hour, and the news appears for me 1 hour later. Thanks for your help.

Sorry astom, I dont know if it can be changed. I have never had a problem with time change.

Been a good morning so far.

+73 pips

Got back in GU, and EU still running.

+16 on GU, and +75 on EU. Total of +164 for today.

Trying something new. I put on a 10 pip renko chart, a 21 EMA high / low channel. Also a MACD with settings of 5, 13, 1. with a zero line.

When MACD crosses zero, and price breaks the channel, price will more times than not, move at least 10 pips.