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Goldflight's RENKO strategy

  • #461
  • May 27, 2011 4:07pm May 27, 2011 4:07pm
Quoting jmw1970
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
Hi jmw1970,

Glad you are still here also. I enter on the first green candle (if 4 Hr is saying long, or red candle if 4 Hr is saying short. ) after a pullback. Sometimes i exit on first or second reversal candle, and sometimes i just let the trailstop hit. Just to see if the pullback is small and see if price will keep going in my favor.
Good luck..................GF.
I AM WHAT I AM, AND THATS ALL THAT I AM
  • #462
  • May 28, 2011 7:23am May 28, 2011 7:23am
Hi GF...goood see you again. I will look close this topic. Is impressive your statement.

Tks!





Ps:I would sugest you that to open other thread with GOLDFLIGHT 2.0!
  • #463
  • May 28, 2011 10:45am May 28, 2011 10:45am
Hi Goldflight

looking more carefully at your statement it looks as though you are opening multiple positions at different times in the trade direction

for instance in the trades that were closed at about 17:08 your broker time there were 8 open trades of 0.5 lots for EURUSD.

Is this part of the strategy - to continually add new positions, and if so at what point - because some of the later positions on the EU buy were opened at a lower price than the first one, ie. the price had not gone in your favor

Regards
John
  • #464
  • May 29, 2011 7:15am May 29, 2011 7:15am
Quoting jmw1970
Hi Goldflight

looking more carefully at your statement it looks as though you are opening multiple positions at different times in the trade direction

for instance in the trades that were closed at about 17:08 your broker time there were 8 open trades of 0.5 lots for EURUSD.

Is this part of the strategy - to continually add new positions, and if so at what point - because some of the later positions on the EU buy were opened at a lower price than the first one, ie. the price had not gone in your favor

Regards
John

Yes i had gotten very agresive and was opening new trades on every new green bar after a red bar as long as 4 Hr chart still had a blue nonlag dot. I would not recomend doing this all of the time. I am still looking to find a safer entrie point....................GF.
I AM WHAT I AM, AND THATS ALL THAT I AM
  • #465
  • Edited 7:22pm May 29, 2011 2:44pm | Edited 7:22pm
Hi Goldflight here is what i have been working on, i use 12 renko bars since i like to hold my trades longer, take look and tell me what you think
I'm going to try the faster bars 6-8-10 this week but i prefer 12 renko bars myself


sean
Attached File(s)
File Type: zip 12 renko files.zip   276 KB | 1,071 downloads
  • #466
  • May 29, 2011 7:23pm May 29, 2011 7:23pm
gf
why the 4 hour lag dot and not the 1 hour?
  • #467
  • Edited 7:46pm May 30, 2011 7:26pm | Edited 7:46pm
Hi Goldflight here is my 8 renko bar test results for the asian session today.
I'm not really comfortable with 8 bar renko i think you get in too early but so far so good.
waited for each trade to be at the pivot line to get me a little more confirmation.
more testing to come

sean
Attached File(s)
File Type: zip 8.renko.zip   109 KB | 857 downloads
  • #468
  • May 31, 2011 6:02am May 31, 2011 6:02am
Quoting Breadman
gf
why the 4 hour lag dot and not the 1 hour?
Just as you did, I could as easily ask why 1 hour and not 4? There is no way to rationalize forex. If H4 works better than H1, then this is what you use.

I don't know if it does in our case here, I have not and will not test it, but there is no reason to ask this question. The only way is to backtest the H1 and H4 and compare the results, which I assume he did.

It took me two months of backtesting of a system and I tested basically every parameter you could. Example: if I intend to use EMA 100, because it seems to give good results, then I would also test EMA 95 and EMA 105 (and probably 90 and 110 and so on). Yet I must say, overadjustment is just as bad as jumping in without any adjustment, simply because one likes H1 better than H4.
I found a penny today. That's +100 pips for me.
  • #469
  • May 31, 2011 9:25am May 31, 2011 9:25am
8 renko bar too early entry confirmed, 7 trades during NY open and 7 losses

time to test 10 renko bars or go back to what i like 12 renko bars
  • #470
  • May 31, 2011 10:22am May 31, 2011 10:22am
Not to be annoying but all versions of RenkoLiveChart prior to v3.2 are buggy and have been deprecated.

Hop over to EllisEdi's Renko thread and grab a copy of v3.2 or 3.3 - still free (open source) and works great...
Old Benjamin was right
  • #471
  • May 31, 2011 10:29am May 31, 2011 10:29am
do you have a url link?

or post the ea?

thanks
  • #472
  • May 31, 2011 11:39am May 31, 2011 11:39am
1st trade on 10renko bar

short gu 1.6457, confirmed by 10 renko bar, cci, 1hr chart and currency strength tool
  • #473
  • May 31, 2011 5:48pm May 31, 2011 5:48pm
GU sh +30 and i'm out on candle color change
  • #474
  • May 31, 2011 5:50pm May 31, 2011 5:50pm
Long EU 1.4408 confirmed by currency strength, EU 1HR, Heiken, cci
  • #475
  • May 31, 2011 6:14pm May 31, 2011 6:14pm
out +25, i'm going to dinner
  • #476
  • Jun 1, 2011 8:01pm Jun 1, 2011 8:01pm
What strength meter are u using PCGuy?
  • #477
  • Jun 1, 2011 9:15pm Jun 1, 2011 9:15pm
it's in the .zip file i included
  • #478
  • Jun 1, 2011 9:49pm Jun 1, 2011 9:49pm
I got error message say " webpage not complete " what this mean ?
  • #479
  • Jun 2, 2011 1:48am Jun 2, 2011 1:48am
Quoting pcguy007
it's in the .zip file i included
It is missing the Library fie mql2svm.dll.....should be in the libraries folder (under the experts folder)


Could you post it?

Thanks
  • #480
  • Jun 2, 2011 3:45am Jun 2, 2011 3:45am
Quoting Cypr3ss
What strength meter are u using PCGuy?
The strength meter doesn't show anything, anybody have the same problem??
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