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

Hello GoldFlight,

I think the MACD (5, 13, 1) and the H/L moving averages are much better.
I've been away again and trying to commit.

Will back test this new version over the weekend.

Thanks.
Morning Goldflight / all,

Here is a MACD Alert indicator that may well help you. I found this indi on Mr Nims thread on TSD. It can be be adusted to whatever parameters you wish and when MACD line crosses the signal line an alert is generated.

I hope it helps. I found the alert helps reduce time glued to the screen.

Cheers
Neal
Attached File
File Type: mq4 MACD Alert2.mq4   4 KB | 293 downloads
Quoting Neal
Morning Goldflight / all,

Here is a MACD Alert indicator that may well help you. I found this indi on Mr Nims thread on TSD. It can be be adusted to whatever parameters you wish and when MACD line crosses the signal line an alert is generated.

I hope it helps. I found the alert helps reduce time glued to the screen.

Cheers
Neal

Thank you Neal, this is going to be a big help. Happy pipping......................
I AM WHAT I AM, AND THATS ALL THAT I AM
Quoting Goldflight
Thank you Neal, this is going to be a big help. Happy pipping......................
Hello goldflight and Neal. With regard to the MACD Alert indicator that Neal posted, with the MACD settings of 5, 13, 1 that we are using, the MACD will always equal the signal, so no cross can occur. Help me understaqnd how this will help??
Quoting EasyRyder
Hello goldflight and Neal. With regard to the MACD Alert indicator that Neal posted, with the MACD settings of 5, 13, 1 that we are using, the MACD will always equal the signal, so no cross can occur. Help me understaqnd how this will help??

Hi Easy Ryder,
I also cant get it to work. I have been tinkering with it all day and cant get anything from it. Hopefully Neal can help us out.
I AM WHAT I AM, AND THATS ALL THAT I AM
  • Post #326
  • Quote
  • Edited at 2:11pm Nov 1, 2010 2:10pm | Edited at 2:11pm
Quoting Goldflight
Hi Easy Ryder,
I also cant get it to work. I have been tinkering with it all day and cant get anything from it. Hopefully Neal can help us out.
I have a ton of email alerted indy's

Here's one that alerts/emails the Histo Cross of zero, Signal lines crossing. (NOTE it is defaulted to false on every category)

Hope it helps you.

-Darren
Attached File
File Type: mq4 MACD_Email Alert_Final.mq4   8 KB | 299 downloads
You are correct. This alert is not triggered when the MACD crosses the zero line but when it crosses the signal line. If it set to 1 it will not trigger. I have been using 5,10,2... or for longer term trades 12,20,5. And the alert is audible/visual, not Email. I use it as that - an alert to attract my attention to then observe the Price Action.

Sorry if I confused you. Hopefully, we can track a MACD that alerts when the histogram crosses the zerro line.

Cheers
Neal
Hi Goldflight,
A few quick questions on your MACD/EMA idea:

  1. When you say "breaks thru" do you mean fully breaks thru the high/low channel from one side to the other or just retrace into the channel and then break back out?
  2. Are you waiting for a closed bar (price & histo) to enter?
  3. Does it need to be MACD first (breaking thru 0) followed by price bar? Or does the order not matter as long as they happen with in a bar or 2?
  4. How is this idea working for you in ranging conditions?

I've been playing with 34EMA HL for a while but looking back, 21 seems to give more consistent results. I'd just like to know exactly how you are thinking about it.
Thanks!

Quoting markb
Hi Goldflight,

A few quick questions on your MACD/EMA idea:

  1. When you say "breaks thru" do you mean fully breaks thru the high/low channel from one side to the other or just retrace into the channel and then break back out?
  2. Are you waiting for a closed bar (price & histo) to enter?
  3. Does it need to be MACD first (breaking thru 0) followed by price bar? Or does the order not matter as long as they happen with in a bar or 2?
  4. How is this idea working for you in ranging conditions?

I've been playing with 34EMA HL for a while...


Hi markb,

1. Both. When price breaks (and closes) outside of channel, by going thru or by retracement.

2. Yes closed bar.

3. Doesnt matter which is first, mostly you will see that they are at the same time.

4. Still early in testing, but ranging market may be a problem if you try to take more than 10 pips.

I hope this helps.

Also a big thank you to Neal and pilotui. I am going to try them both.

Happy Pipping......... Goldflight......
I AM WHAT I AM, AND THATS ALL THAT I AM
Here is my own little modifications. Red lines are for sell and green lines are for buy. I have 5-pip blocks
Attached Image (click to enlarge)
Click to Enlarge Name: renko.gif Size: 17 KB
The indies on the chart are those I actually use
Attached Image (click to enlarge)
Click to Enlarge Name: renko_01.gif Size: 15 KB
What a day to make the pips...!!!
Attached Image
Hi Maxwell,

Would it be possible to post your indicators?

Cheers!
Quoting rumpfunk
Hi Maxwell,

Would it be possible to post your indicators?

Cheers!
Yes, that would be great, maxwell! And a template, please.

Thank you for your efforts!

Best regards!
Quoting rumpfunk
Hi Maxwell,

Would it be possible to post your indicators?

Cheers!

The indicator's are well known and are here in FF. Anyway, here you go.
Attached Files
File Type: mq4 MACD.mq4   2 KB | 235 downloads
File Type: ex4 MACD_Colored_v102.ex4   7 KB | 287 downloads
File Type: ex4 MACD_inColor.ex4   4 KB | 271 downloads
Quoting maxwell-eqtn
The indicator's are well known and are here in FF. Anyway, here you go.



Here is the DMI. It could also be used, but not necessary.
Attached Files
File Type: ex4 DMI.ex4   8 KB | 271 downloads
File Type: mq4 DMI.mq4   7 KB | 278 downloads
GoldFlight,

Can you go over how you use the ADX in your setups? What are the best settings?

Thanks!

Shawn
Never can get the stupid email function to work right.
Strange, but renko doesn't work in my chart. Anybody know about this problem?
Quoting dzhini
Strange, but renko doesn't work in my chart. Anybody know about this problem?

Hi dzhini, go to post #20. There i explain how to put renko on charts. If that does not work go to post #24.
I AM WHAT I AM, AND THATS ALL THAT I AM
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