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Goldflight's RENKO strategy

  • #441
  • Feb 3, 2011 9:11am Feb 3, 2011 9:11am
I would make a thread, but I'm junior as well (I think), and when I registered I belive it said it would take like 6 hours, which has passed quite a whila ago.
Let's hope you get upgraded soon, can't wait to evolve and learn more about this strategy

Finoli
  • #442
  • Edited 1:24am Feb 4, 2011 1:05am | Edited 1:24am
Quoting jmw1970
Hi 45Fx / All

Thanks for the feedback, not sure what the problem was with the font, I use XP as well, maybe yours is a newer version of the font file. I included the file mainly for those who didn't already have the font installed.

NOTE:- To anyone installing this indicator do not bother with the font UNLESS you do not already have it.

Regarding the name, my original name did include swiss army knife, but on a search of forums I found a range of indicators already with this name so I didn't want to confuse people....
Hello John,
Could you please take a look at these two indis and tell me if what you think about them. Your work reminded me of them, & was wondering if you think the code & logic behind them is good or could be improved upon etc.
PS:
I added a screen shot so you might know what both these indis look like on the bottom of a chart. I reset the multyboxrenko indi Forexflash made but still shows two 16 pip bricks one says buy, other says sell, see what I mean about it being a bit buggy? Think you can fix?
Attached Image (click to enlarge)
Click to Enlarge Name: the possible.gif Size: 23 KB
Attached File(s)
File Type: mq4 MultyBoxRENKO.mq4   28 KB | 925 downloads
File Type: mq4 The_Possible_Indicator_v2.mq4   13 KB | 884 downloads
  • #443
  • Feb 4, 2011 1:31am Feb 4, 2011 1:31am
Quoting farkasb
..or alternatively, some of you may open it up and I'll post. We could name it for example "RENKO strategy for price action".
s
Okay, this is Goldflights thread for logging his trades and ideas. Everyone must respect that. Here is a new thread for Price action trading with RENKO: http://www.forexfactory.com/showthre...25#post4371125

Let's get trading!

Ezakimak
  • #444
  • Feb 4, 2011 5:00am Feb 4, 2011 5:00am
Quoting 45Fxguy
Hello John,
Could you please take a look at these two indis and tell me if what you think about them. Your work reminded me of them, & was wondering if you think the code & logic behind them is good or could be improved upon etc.
PS:
I added a screen shot so you might know what both these indis look like on the bottom of a chart. I reset the multyboxrenko indi Forexflash made but still shows two 16 pip bricks one says buy, other says sell, see what I mean about it being a bit buggy? Think you can fix?
Hi,

Having looked at the code I have the following comments:-

MultyBoxIndicator, this indicator effectively shows buy/sell dependant on whether the last box is over the second to last and the second to last is over the third to last. There is no coding for wait, therefore in the case of 1up / 1down it will show it will show the value of the last box.

I couldnt replicate the problem you had (same boxsize different signal), although there is probably a typo somewhere, it replicates the code 5 times for each boxsize in a different routine instead of using the same one with parameters.

Regarding the timer, I was expecting this to be based on how complete the box is as it is based on percentage (basic maxim for using a percent - you must know the maximum), it isn't - it uses time in seconds multpilied by the period, I for instance use period 82, other people use 2,3 4 etc.

If you think about how a renko box is you would need a scale of -100 to 100, 0 being the close of the last bar, on a 10 pip block, each pip movement in the same direction of the current trend would equal 10% of the timer, each pip in the opposite direction would equal 5% (as a renko block requires twice the number of pips to reverse).

Again not quite sure how this is helpful, you can see the formation of the block on the chart therefore can "guestimate" its completion.

The possibility indicator, I found more useful, though I have the following comments, it measures the ticks as either bull or bear which is OK, however it does not measure the strength of the tick it simply adds it to bull/bear.

This means you could receive 5 ticks Bear which result in for example 5 pips of movement down, and receive 20 ticks Bull which only results in 2 pips of movement (especially when using 5/6 digit brokers), the possibility indicator would show this as Bull whereas the correct value should be Bear.

All in all, I believe the possibility meter could be modified to be more relevant, the multybox I have my reservations.

On another note I see you still are having some problems with the fonts, those little yellow "z"'s are supposed to arrows!! But if you have no problem selecting them to move the panels around the screen - I see no issue - if I release a new version I think I will have the special codes available as parameters.

Sorry I couldn't be more helpful.

Regards
John
  • #445
  • Feb 4, 2011 3:02pm Feb 4, 2011 3:02pm
Thanks John for sharing your expertise on those indis... If you have any specific idea/s on improving the possibility indy please pm me...
  • #446
  • Feb 5, 2011 10:54am Feb 5, 2011 10:54am
Goldflight, in a previous post you said we could use a simulator on weekends.
I installed it but I don't understand how to use it so there are Renko bars on the chart?

Please explain

Regards
  • #447
  • Feb 5, 2011 6:33pm Feb 5, 2011 6:33pm
Quoting Finoli
Goldflight, in a previous post you said we could use a simulator on weekends.
I installed it but I don't understand how to use it so there are Renko bars on the chart? Please explain
How to backtest Renko:
http://www.forexfactory.com/showthread.php?t=204485
  • #448
  • Feb 6, 2011 3:55pm Feb 6, 2011 3:55pm
Goldflight, does it matter where the AO MAs cross over? E.g is the signal stronger near the 0 line or weaker etc


Also, thank you Xaphod for the link


Finoli
  • #449
  • Feb 7, 2011 8:32am Feb 7, 2011 8:32am
Sorry for double post (in case anyone gives a shit)

Goldflight, how do you know when a trade is going against you? How would you spot this? Or do you simply wait for it to hit SL?
I'm using the final version of your system

Finoli
  • #450
  • Mar 17, 2011 9:43am Mar 17, 2011 9:43am
Alright, I'm back. Sorry, I was in a bad accident and was out of the picture for awile. Will see if i can pick up where i left off.

Here is todays trades so far.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screen shots 1.gif Size: 21 KB
Click to Enlarge Name: screen shots 2.gif Size: 21 KB
I AM WHAT I AM, AND THATS ALL THAT I AM
  • #451
  • Mar 17, 2011 10:00am Mar 17, 2011 10:00am
Trailstops hit.

EU 4.5

GU 15.5
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screen shots 1.gif Size: 21 KB
Click to Enlarge Name: screen shots 2.gif Size: 20 KB
I AM WHAT I AM, AND THATS ALL THAT I AM
  • #452
  • Mar 17, 2011 10:07am Mar 17, 2011 10:07am
Glad to see you back, looking forward to your posts.
  • #453
  • Mar 17, 2011 10:10am Mar 17, 2011 10:10am
Quoting c0mputernick
Glad to see you back, looking forward to your posts.

Thankyou, good to be back. Still in alot of pain so my posts may be a little slow comming. Please bear with me.

Happy pipping............GF.
I AM WHAT I AM, AND THATS ALL THAT I AM
  • #454
  • Apr 14, 2011 3:46am Apr 14, 2011 3:46am
Hi GF, how are your health?!

Please, there many indicator, tpl, losted in the posts. Could you do update your TS "officially"(if you are using yet).

Tks
  • #455
  • May 7, 2011 11:58am May 7, 2011 11:58am
Quoting astom
Hi GF, how are your health?!

Please, there many indicator, tpl, losted in the posts. Could you do update your TS "officially"(if you are using yet).

Tks

Hi astom,

I am doing much better now thank you. Sorry, i was asked to be an adviser (not forex) so i was away. Here is my last template. Also i am working on another system that is showing some good results. If it works out as planed i will share it here.
Attached File(s)
File Type: tpl GOLDFLIGHTS FINAL VERSION.tpl   7 KB | 791 downloads
I AM WHAT I AM, AND THATS ALL THAT I AM
  • #456
  • May 27, 2011 10:42am May 27, 2011 10:42am
A scalping method i have been working on.

I have 4 charts. Top 2 are EURUSD / GBPUSD, M2, offline, 3 pip block Renko.

Bottom 2 are EURUSD / GBPUSD, 4 Hr chart with all colors set to black. On them is the nonlagdot indie set at 25. And a clock indie.

When dots are blue on 4 Hr chart, I am looking to LONG ONLY on the renko chart.

When the dots are red, I am looking to SHORT ONLY.

Here are the charts and todays trades.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screen shots 1.gif Size: 67 KB
Click to Enlarge Name: screen shots 2.gif Size: 107 KB
Attached File(s)
File Type: mq4 nonlagdot.mq4   5 KB | 989 downloads
File Type: mq4 P4L CandleTime.mq4   5 KB | 807 downloads
I AM WHAT I AM, AND THATS ALL THAT I AM
  • #457
  • May 27, 2011 11:24am May 27, 2011 11:24am
Hi Goldflight, nice to see you back in this thread.

I've been working on a different system kinda like your but with a spin.

I'm using 12 pip renko with heiken smoothed, cci 3, and currency strength indicator.

so far so good, i'll post a screenshot and indicators next week when i get back home.

looks like your method is doing great i'll takeka look next week


thanks
  • #458
  • May 27, 2011 1:39pm May 27, 2011 1:39pm
Hi Goldflight

good to see you back posting in your thread,

ok - I understood how you get the direction (non-lag dot on 4hr) but what do you use to determine when to enter on the renko chart?

also fixed TP or wait for reversal, SL - last swing low?

I liked the previous method a lot - my problem was always entering as it got into rangebound mode.

Regards
John

Quoting Goldflight
A scalping method i have been working on.

I have 4 charts. Top 2 are EURUSD / GBPUSD, M2, offline, 3 pip block Renko.

Bottom 2 are EURUSD / GBPUSD, 4 Hr chart with all colors set to black. On them is the nonlagdot indie set at 25. And a clock indie.

When dots are blue on 4 Hr chart, I am looking to LONG ONLY on the renko chart.

When the dots are red, I am looking to SHORT ONLY.

Here are the charts and todays trades.
  • #459
  • May 27, 2011 3:53pm May 27, 2011 3:53pm
Quoting pcguy007
Hi Goldflight, nice to see you back in this thread.

I've been working on a different system kinda like your but with a spin.

I'm using 12 pip renko with heiken smoothed, cci 3, and currency strength indicator.

so far so good, i'll post a screenshot and indicators next week when i get back home.

looks like your method is doing great i'll takeka look next week


thanks

Hello pcguy007,
Glad you are still here with me. I am looking forward to your new method. See you next week.....................GF.
I AM WHAT I AM, AND THATS ALL THAT I AM
  • #460
  • Edited 4:20pm May 27, 2011 3:59pm | Edited 4:20pm
Hi Goldflight glad to help, my method i'm using uses very few indicators which is what i like.
I've been able to keep my drawdown between 3-7 pips for most pairs.

I'll post everything i'm doing with as much rules detail as i can on sunday.
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