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

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
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!
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
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
  • Post #465
  • Quote
  • Edited at 8:22pm May 29, 2011 3:44pm | Edited at 8:22pm
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
File Type: zip 12 renko files.zip   276 KB | 866 downloads
gf
why the 4 hour lag dot and not the 1 hour?
  • Post #467
  • Quote
  • Edited at 8:46pm May 30, 2011 8:26pm | Edited at 8:46pm
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
File Type: zip 8.renko.zip   109 KB | 669 downloads
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.
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
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
do you have a url link?

or post the ea?

thanks
1st trade on 10renko bar

short gu 1.6457, confirmed by 10 renko bar, cci, 1hr chart and currency strength tool
GU sh +30 and i'm out on candle color change
Long EU 1.4408 confirmed by currency strength, EU 1HR, Heiken, cci
out +25, i'm going to dinner
What strength meter are u using PCGuy?
it's in the .zip file i included
I got error message say " webpage not complete " what this mean ?
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
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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