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RENKO system with Mihailo!

  • #241
  • Nov 14, 2011 10:41am Nov 14, 2011 10:41am
Quoting Mihailo
Last night I added short order on Cable!

Clear signal!

Came now from my studio and saw nice 44 pips!

GLto all!
Poshcom
  • #242
  • Nov 14, 2011 11:00am Nov 14, 2011 11:00am
Quoting FelixFX
Hallo Freund!

Wie geht es den Handel heute?

Whats up!
  • #243
  • Nov 14, 2011 12:00pm Nov 14, 2011 12:00pm
yes had a good day, made some pips with your system
Poshcom
  • #244
  • Nov 14, 2011 12:18pm Nov 14, 2011 12:18pm
Today................My pips sistem MIHAILO Only EUR/USD

5 diferents Money Managament:

M.BASE = Stop -50 / Profit + 20 Lot= 0.1 ( 3% equity)

M.BASEx2= M.BASE......but when I have 1 Stop loss.......next Lot= 6%

M.BASE Trainilg = M.BASE .....but trailing +22 pips.

M.CALC + 20 = M.BASE.........Stop = 1rst Sup/res. = 3% equity

M.CALC Trainling = M.CALC + 20 .......but trailing +22 pips.

Attached Image (click to enlarge)
Click to Enlarge Name: mihailo 14-11.JPG Size: 44 KB
  • #245
  • Edited 1:25pm Nov 14, 2011 12:22pm | Edited 1:25pm
I will study what is the best...........Money Managament.

.............something about Money M. in this sistem?

  • #246
  • Nov 14, 2011 1:49pm Nov 14, 2011 1:49pm
Quoting fcesc73
I will study what is the best...........Money Managament.

.............something about Money M. in this sistem?

Good results on each... No negative trade.

You must find MM that suits you best and feel comfortable. Without fear in trade!

Keep on rollin'
  • #247
  • Nov 14, 2011 2:09pm Nov 14, 2011 2:09pm
Good and profitable day to all
Mihailo can you tell me how to setup the system on diferent than EUR,GBP,JPY
currency like AUDUSD for exemple
  • #248
  • Nov 14, 2011 3:41pm Nov 14, 2011 3:41pm
A VIDEO PLEASE!!!
  • #249
  • Edited 8:44pm Nov 14, 2011 6:48pm | Edited 8:44pm
Hello Mihailo and all!!!
This is my first post on this forum, so i just wanted to firstly thank Mihailo for his great system.
Ive been trading for a few years now and have been trading some renko and time charts. Although renko is great for trend trading i found it terrible when it came to the execution.
So ive been using the new combined signal that easyryder developed and the flat indicator, and i can say that it is very effective.

I can honestly say that the chart setup you developed Mihailo is the best for both trend and Price action i have ever seen.
The filters are great and i can see that using this setup with a basic retracement continuation strategy would be of great value as the market waves are very identifiable with HA and renko combo.

I will post some of my trades in the future and would love to be here for an after market discussion of the weeks trades.
thanks again
regards Jon
  • #250
  • Nov 14, 2011 9:19pm Nov 14, 2011 9:19pm
Quoting Mihailo
***************** Renko Chart **************************
The word "Renko" comes from "Renga", the Japanese word for "brick". The filled and hollow squares that make up a Renko chart are often referred to as "bricks." Renko charts were popularized by Steve Nison in his book Beyond Candlesticks.

Renko charts have a pre-determined "Brick Size" that is used to determine when new bricks are added to the chart. If prices move more than the Brick Size above the top (or below the bottom) of the last brick on the chart, a new brick is added...
This definition of Renko chart is INCORRECT. Renko charts, as defined in Steve Nison's "Beyond Candlesticks" book, are based entirely on CLOSING price. New bricks are *NOT* added every time price moves the "Brick Size", they are only added if the CLOSING PRICE is above/below the last brick open/close by the brick size. It's possible to add multiple bricks at once. For example, with brick size = 50 pips and the last brick being a BULLISH brick with a close of 1.4000, no new bricks get added above the current brick unless there is a CLOSING PRICE >= 1.4050. If price goes above 1.4050 but pulls back to below 1.4050 at the close, no new brick is added. If the next close is 1.4102, two BULLISH bricks get added at once. What you are describing is something else, that's not Renko (even though the chart looks like a Renko chart).
  • #251
  • Nov 14, 2011 10:16pm Nov 14, 2011 10:16pm
Quoting dlewisfl
This definition of Renko chart is INCORRECT. Renko charts, as defined in Steve Nison's "Beyond Candlesticks" book, are based entirely on CLOSING price. New bricks are *NOT* added every time price moves the "Brick Size", they are only added if the CLOSING PRICE is above/below the last brick open/close by the brick size. It's possible to add multiple bricks at once. For example, with brick size = 50 pips and the last brick being a BULLISH brick with a close of 1.4000, no new bricks get added above the current brick unless there is a CLOSING PRICE...
That is a valid point, especially when trying to back test renko systems as the ticks project differantly all the time depending on the 1 minute data.
However do you think it affects this system at all? what are your thoughts on this system? anything positive?
  • #252
  • Nov 14, 2011 11:48pm Nov 14, 2011 11:48pm
Quoting BG_pip
Good and profitable day to all
Mihailo can you tell me how to setup the system on diferent than EUR,GBP,JPY
currency like AUDUSD for exemple
I will try answer. If it's wrong then correct me Mihailo please.

First of all you should open 2 new charts M1 for AUDUSD. In the first chart add expert advisor RenkoLiveChart_v3.3 with settings 13 0 2 and in the second one RenkoLiveChart_v3.3 with settings 5 0 3. Expert advisor must smile ))).

After that go to menu of MT4 in File -> Open offline and find AUDUSD2 with double click and after that the same AUDUSD3 with double click.

And you should apply template for chart AUDUSD3 offline.

That's all! Have a good trading with others pairs!
  • #253
  • Nov 15, 2011 3:14am Nov 15, 2011 3:14am
School store
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  • #254
  • Nov 15, 2011 3:33am Nov 15, 2011 3:33am
heyyy jon, welcome

thats the same way I do easyrider and flat together works fine.
greets to adelaide, my sister is living there

Felix
Poshcom
  • #255
  • Nov 15, 2011 3:34am Nov 15, 2011 3:34am
Quoting Vojin71
School store
well done, I took the same trade
Poshcom
  • #256
  • Nov 15, 2011 3:46am Nov 15, 2011 3:46am
Quoting FelixFX
heyyy jon, welcome

thats the same way I do easyrider and flat together works fine.
greets to adelaide, my sister is living there

Felix
Hey thanks Felix, actually i got the indi idea from you
thanks for the welcome......
Now lets trade!!!!
The 3 pairs have been awesome to trade lately,hope it continues!!!
  • #257
  • Nov 15, 2011 4:28am Nov 15, 2011 4:28am
yes, take another clean chart in H4 and look for strong s&r. this will help y to make better trades. many green pips mate
Poshcom
  • #258
  • Nov 15, 2011 10:49am Nov 15, 2011 10:49am
Quoting Jon618
That is a valid point, especially when trying to back test renko systems as the ticks project differantly all the time depending on the 1 minute data.
However do you think it affects this system at all? what are your thoughts on this system? anything positive?
I think this system was developed with an indicator that has bugs as it relates to Renko charts, it's not drawing a Renko chart. The indicator is basically drawing something closer to a RANGE BAR (although not a true Range Bar) and making it look like a Renko chart. That being said, if the system is working with the indicator as is, then that's o.k. as the goal is to make money. To be honest, I have not studied the system so can't say if it is good one way or the the other. There are several threads on FF stating they are using Renko when they are not, anyone that understands Renko and doesn't know how to read the MQL source code is being mis-led about the charting methodology being used.

Using M1 data is probably your best bet if you are drawing RANGE BARS (much like the "Renko" indi used here). However, in true Renko, using M1 data will subject you to the same "noise" you see on a candle or bar chart. There will be more bricks and more changes of direction leading to increased whipsaws. Renko charts were initially developed for DAILY pricing so, IMO, they are far less effective on the smaller timeframes, just as candle signals are less effective due to the increased noise.
  • #259
  • Nov 15, 2011 11:56am Nov 15, 2011 11:56am
Quoting abc-forex
I will try answer. If it's wrong then correct me Mihailo please.

First of all you should open 2 new charts M1 for AUDUSD. In the first chart add expert advisor RenkoLiveChart_v3.3 with settings 13 0 2 and in the second one RenkoLiveChart_v3.3 with settings 5 0 3. Expert advisor must smile ))).

After that go to menu of MT4 in File -> Open offline and find AUDUSD2 with double click and after that the same AUDUSD3 with double click.

And you should apply template for chart AUDUSD3 offline.

That's all! Have a good trading with others pairs!

I am agree for this steps you described
but i am on about the tamplate wich tamplate to aplay ther is only RenkoTHVEUR ...... GBP and .......... JPY
nothing else for the rest pairs
  • #260
  • Edited Nov 16, 2011 4:34am Nov 15, 2011 11:59am | Edited Nov 16, 2011 4:34am
Quoting BG_pip
Good and profitable day to all
Mihailo can you tell me how to setup the system on diferent than EUR,GBP,JPY
currency like AUDUSD for exemple
HI friend!

Sorry for slow respond

1. Open two m1 charts of pair that zou want to trade.

2. On first one apply Template M2

3. On first one apply template M3

4. Open offline chart M2

5. Open offline chart M3, aplly Renko Thv template
Attached File(s)
File Type: tpl m2.tpl   1 KB | 962 downloads
File Type: tpl m3.tpl   1 KB | 982 downloads
File Type: tpl renko thv.tpl   123 KB | 1,019 downloads
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