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Price action trading with RENKO

  • #121
  • Edited 9:06am Feb 9, 2011 7:01am | Edited 9:06am
how do you like my renko?
Attached Image (click to enlarge)
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  • #122
  • Feb 9, 2011 9:49am Feb 9, 2011 9:49am
Hi There,

Ok looks good - what are the indicators and set up?

Cheers
  • #123
  • Feb 9, 2011 11:14am Feb 9, 2011 11:14am
Quoting robt2005
Hi There,

Ok looks good - what are the indicators and set up?

Cheers
pretty pretty...
indis attached
Attached File(s)
File Type: ex4 IBFX - GRaB - B.ex4   4 KB | 539 downloads
File Type: ex4 IBFX - GRaB - G.ex4   4 KB | 503 downloads
File Type: ex4 IBFX - GRaB - R.ex4   4 KB | 488 downloads
  • #124
  • Feb 9, 2011 11:36am Feb 9, 2011 11:36am
Quoting Ezakimak
Hey there Jiva!

Looks like your renko indicator is playing up. The attached Expert Advisor is the one I use. Some awesome coders here on Forex Factory are the authors. Check it out mate....
My Renko EA also draws bricks side by side. Anyone else's renko EA do the same thing?
  • #125
  • Feb 9, 2011 11:58am Feb 9, 2011 11:58am
Quoting 2+2=4ex
My Renko EA also draws bricks side by side. Anyone else's renko EA do the same thing?
see http://www.forexfactory.com/showpost...&postcount=117
  • #126
  • Edited 12:48pm Feb 9, 2011 12:30pm | Edited 12:48pm
ok here's a plan for tomorrow,
I hope my chart isn't starting to look like a unicorn explosion.
tutti fruiti maybe...
anyway, I'm going to look for 10pips only.
enter long on 2nd block lime green (light red) after ma turns yellow. keep an eye on osma.
enter short on 2nd block red (or dark green) after ma turns magenta. watch osma.
Let me see if I can stay disciplined enough to do that.
tp 10 pips, stop loss 30... ( spikes and whipsaws)
let's see if I can do that 5 times..
demo only...
Attached Image (click to enlarge)
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  • #127
  • Feb 9, 2011 1:43pm Feb 9, 2011 1:43pm
Quoting jiva34
see http://www.forexfactory.com/showpost...&postcount=117
Thank you for the reply, however, that isn't the problem. I don't have the EA running on the offline chart. Maybe it's because I have it on the H1 chart, but I honestly don't think that's the problem either. It could be the offset option I have in the EA settings. Who knows. In any case I'm not complaining because it still draws out the bricks correctly. I'm just wondering why. The only difference is when price reverses it draws another brick right next to the last one instead of waiting for it to go a full brick away. When I get a chance later I will post an attachment with a chart showing the difference between mines and the other type.
  • #128
  • Feb 9, 2011 6:32pm Feb 9, 2011 6:32pm
Quoting 2+2=4ex
Thank you for the reply, however, that isn't the problem. I don't have the EA running on the offline chart. Maybe it's because I have it on the H1 chart, but I honestly don't think that's the problem either. It could be the offset option I have in the EA settings. Who knows. In any case I'm not complaining because it still draws out the bricks correctly. I'm just wondering why. The only difference is when price reverses it draws another brick right next to the last one instead of waiting for it to go a full brick away. When I get a chance later...
Well I said I'd be back to post some charts to show the difference I was talking about, so here I am...
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eu renko m2 chart 02-09-2011.gif Size: 21 KB
  • #129
  • Feb 9, 2011 7:39pm Feb 9, 2011 7:39pm
Hi 2+2 (and anyone else who is interested)

BoxOffset should be left at default 0, otherwise the problem you have comes, not quite sure why this parameter is there it doesnt work correctly.

The only problem with running the EA on a chart other than 1 min is the Time value allocated to the Renko bar when building the history - live feed is ok,

If one bar on the Timeframe chart breaches a renko block then the next renko block receives the same time code + 1 second.

Regards
John
  • #130
  • Feb 9, 2011 7:50pm Feb 9, 2011 7:50pm
Quoting jmw1970
Hi 2+2 (and anyone else who is interested)

BoxOffset should be left at default 0, otherwise the problem you have comes, not quite sure why this parameter is there it doesnt work correctly.

The only problem with running the EA on a chart other than 1 min is the Time value allocated to the Renko bar when building the history - live feed is ok,

If one bar on the Timeframe chart breaches a renko block then the next renko block receives the same time code + 1 second.

Regards
John
Thank you for replying John. I do have the default 0 offset. It should be noted however that I am not using the same EA attached to this thread. In any case, not a big deal. I was just wondering why. To be honest I actually like it drawing the way it does because it draws a brick for every [set amount].
  • #131
  • Feb 9, 2011 9:15pm Feb 9, 2011 9:15pm
Dumb question #5,000,000,000:
The renko block forms when? At the close of something?
If v3.2 is set up on the 1m, then when a 1m candle closes 10 pips higher or lower a block forms?
thanks in advance..
  • #132
  • Edited 10:47pm Feb 9, 2011 9:18pm | Edited 10:47pm
So much for discipline. I have to get some... Or I'm not going anywhere in forex...
Actually with this trade the moving average wasn't on the chart, first look at the market, little foggy, didn't notice the ma wasn't there, it is now..
My rules for today are 2nd block after ma changes color... so little early on this.

edit: gotcha.. 10 pips +spread 12 pips..
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  • #133
  • Edited 10:16pm Feb 9, 2011 9:34pm | Edited 10:16pm
might be late to the party here.
should have entered a bit earlier.
already has tested the upper trendline of the channel and fallen back...
the 10 pips would have been reached no doubt..

edit: since was a little late getting in, got out early.
testing top of range for second time.
Maybe gonna break out maybe not.
+7 pips
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  • #134
  • Edited Feb 10, 2011 3:50am Feb 9, 2011 10:21pm | Edited Feb 10, 2011 3:50am
looking for 10 pips

took forever, closed early sitting on support and major news release due out..
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  • #135
  • Edited Feb 10, 2011 12:41am Feb 9, 2011 10:32pm | Edited Feb 10, 2011 12:41am
better entry would have been earlier with cross of zero on osma
10m pips would already be in the bag.

edit: bad trade entered too late. best entries are on osma cross confirmation
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  • #136
  • Edited Feb 10, 2011 3:05am Feb 9, 2011 11:01pm | Edited Feb 10, 2011 3:05am
not exactly the 2nd block, but there was a pullback and
cross of 0 on osma..
I guess the best I am going to be able to do with discipline is stick as closely to it as possible. don't change the rules, but sometimes I'm going to stretch things a bit. If I do I better have a good reason for doing that...

edit: trade good 10 pips + spread +14

Finding this renko site was like someone tossed a lit match into dry leaves...
This will work.
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  • #137
  • Edited Feb 10, 2011 1:06am Feb 9, 2011 11:34pm | Edited Feb 10, 2011 1:06am
Quoting Ezakimak
Time will tell. A true ninja waits for the opportune time to strike.
I need help with my ninja...
If I don't stay focused on the action I miss the trades.
If I am focused I take trades I shouldn't for one reason or another..

It's demo until I can get the kinks out of this...
What do you think of the set up?
unicorn parade?

actually looks more like tetris..
  • #138
  • Feb 9, 2011 11:54pm Feb 9, 2011 11:54pm
Quoting 2+2=4ex
Well I said I'd be back to post some charts to show the difference I was talking about, so here I am...
Hello 2+2=4ex,

In your top picture, you have the renko ea loaded on the renko chart. The renko ea needs to be loaded on a M1 chart and then the corresponding offline M2 should be opened and the renko blocks will appear there.

In the second pic, the blocks on the screen are renko range bars. They work quite a bit different than renko blocks.

Might be worth a look?

Ezakimak
  • #139
  • Feb 10, 2011 3:09am Feb 10, 2011 3:09am
Quoting jiva34
I need help with my ninja...
If I don't stay focused on the action I miss the trades.
If I am focused I take trades I shouldn't for one reason or another..

It's demo until I can get the kinks out of this...
What do you think of the set up?
unicorn parade?

actually looks more like tetris..
If perhaps, I could humbly offer some advice...

Focus means focus. Giving your attention to one thing. I would humbly suggest that you look at all the charts, systems and ideas you have posted and choose ONE to focus on. Test it for a while. Thrash it. Give it a real good test before adopting it or discarding it. Each of the charts and ideas you have posted have potential. Take some time to look at them and figure out if what they are telling you is good intel. Keep price action as the base for your decisions.

The very first chart you posted had some great potential hidden under all the fireworks. I have attached the chart below. Add up how many pips you would have won if you entered at the close of the marked candles.

Focus means focus. Patience and a steady head is very important.

A Japanese story of patience: http://en.wikipedia.org/wiki/47_ronin

Ezakimak
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  • #140
  • Feb 10, 2011 3:59am Feb 10, 2011 3:59am
Hi Guys,

I'm watching this thread quietly so far and testing of course (one of the strategy I would apply if I master it).

Here are some helfull links:
1. http://www.forexfactory.com/showpost...&postcount=972
(check 1st two indicators ... congestion and supres)

2. http://www.forex-tsd.com/suggestions...ng-system.html
(here is the renko EA and complete guide)

Enjoy.
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