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RENKO system with Mihailo!

  • #1,341
  • Feb 24, 2012 4:36am Feb 24, 2012 4:36am
I've solved the problem. Basically I installed another version of MT4 on another hard drive partition.
And do not forget to install and activate the Renkolivechart expert advisers in M1

It work!
  • #1,342
  • Feb 24, 2012 11:00am Feb 24, 2012 11:00am
Hi friends, I have a few problems with the system, please help to understand:
A. Adviser to install and then open the M3 autonomously. Includes the template, but it included about 10 minutes. the terminal hangs. What to do?
Two. Error as shown below.
Three. schedule does not move.
4. Mini does not appear M2.
The new MT4 is not installed on the system disk.
do not work the basic functions, I can not even make the screen display.
What should I do?
Computer:
Core 2 Quad
4GB
win 7 pro
  • #1,343
  • Feb 24, 2012 1:15pm Feb 24, 2012 1:15pm
Quoting frostdm
Hi friends, I have a few problems with the system, please help to understand:
A. Adviser to install and then open the M3 autonomously. Includes the template, but it included about 10 minutes. the terminal hangs. What to do?
Two. Error as shown below.
Three. schedule does not move.
4. Mini does not appear M2.
The new MT4 is not installed on the system disk.
do not work the basic functions, I can not even make the screen display.
What should I do?
Computer:
Core 2 Quad
4GB
win 7 pro
I'll explain as I have resolved. I installed MT4 on another hard drive partition (D: ), then I copied the contents of Paket 5! into the corresponding folders.
I open MT4, then activated expert advisors (must have the green arrow), I dragged Renkolivechart v3.3x2 to, for example, EURUSD M1, I selected profiles Renko THV 5, and, after a while frozen, the system works perfectly.
All in this sequence!.
Sorry for my English
  • #1,344
  • Feb 24, 2012 9:09pm Feb 24, 2012 9:09pm
Thank you very much! it worked! ok I'll start to learn the system, as in Turn it became clear sorry for the English.
  • #1,345
  • Feb 24, 2012 11:35pm Feb 24, 2012 11:35pm
Mihailo, i looked at your work in Facebook .. I really liked. You're a very talented sculptor!!!
  • #1,346
  • Feb 25, 2012 11:01am Feb 25, 2012 11:01am
Nice work
Have a nice day
  • #1,347
  • Feb 26, 2012 3:12am Feb 26, 2012 3:12am
Quoting fishman356
Attachment

Here is a Simulated Tick , Put in your script folder , attach to chart after you install your ea, It should help out when it;s the weekend and the markets are closed.

Mihailo, thank you for shareing your system, I have always like renko trading systems because of taking out the market noise, Looks like you have mastered this one. Many pip to you.

fishman356
I can't get the script to work..
It doesn't do anything..
I drag it to my 1m charts and nothing happens.. also tried 2m and 3m charts.

I have correctly installed it.. and I have also correctly installed RENKO.. I think..

I can't find any history.rar to download from first post..
Is that still nessasary?
  • #1,348
  • Feb 26, 2012 5:59am Feb 26, 2012 5:59am
Quoting Proffesor Pi
I can't find any history.rar to download from first post..
Is that still nessasary?
Yes history is very important
You'll find it at the bottom of post #57
http://www.forexfactory.com/showthre...63#post5104063
Have a nice day
  • #1,349
  • Feb 26, 2012 6:07am Feb 26, 2012 6:07am
Quoting billv
Yes history is very important
You'll find it at the bottom of post #57
http://www.forexfactory.com/showthre...63#post5104063

Thanks!


I have been reading very many pages and looking for people who have traded this system long time to see if they are successful.. but can only find people who have tested a few trades.

This system sounds amazing because easy rules to follow and minimal discretion needed.. and best of all.. You don't need to look for trend on higher time frames.. only follow the rules.

But it just sounds too easy..
Also that risk:reward is something like 2:1 or 3:1.... which is terrible.
r:r should be opposite... 1:2 or 1:3... or at least 1:1.

So I havent read every post yet but I'm working on doing that.. but has anyone had success following this system 100% by rules and not looking trend on other time frames for a long time? at least 100 trades?
  • #1,350
  • Feb 26, 2012 3:39pm Feb 26, 2012 3:39pm
Quoting Proffesor Pi
Also that risk:reward is something like 2:1 or 3:1.... which is terrible.
r:r should be opposite... 1:2 or 1:3... or at least 1:1.
Hi professor Pi

Reading from people's posts, the wins are more than the losses provided you don't have tight SL's and this is where the high risk comes from. The logic is that if the conditions are right and you wait long enough the market will go in your direction.

The manual states that you need to have additional reasons for taking a trade , eg bounce from S&R, pivots, divergence etc

How is Sweden these days?
I heard recently that it was pretty cold....
Have a nice day
  • #1,351
  • Feb 27, 2012 4:14am Feb 27, 2012 4:14am
Quoting Proffesor Pi
I can't get the script to work..
It doesn't do anything..
I drag it to my 1m charts and nothing happens.. also tried 2m and 3m charts.

I have correctly installed it.. and I have also correctly installed RENKO.. I think..

I can't find any history.rar to download from first post..
Is that still nessasary?

Have you been able to make it work ???

If not let me know and I'll try and help you out....

Regards
  • #1,352
  • Feb 27, 2012 7:45am Feb 27, 2012 7:45am
Quoting gj6n68
Have you been able to make it work ???

If not let me know and I'll try and help you out....

Regards
Didn't get it to work..

But I'm not sure if I want to try this system before someone can verify that system works in the long run.. with many trades... and considerable ROI.

Like I said in my last post.. R:R and not having to care about the trend from higher time frames sounds crazy.

I really hope it works though because trading with trend is hardest thing in forex I think.. Look at higher time frames and do trend lines, fib etc... You never know how far the retracement go.. or if it's reversing.. or if what you thought was uptrend is just retracement of even high time frames downtrend. And when you go and look at threads like usd/jpy or eur/usd then 50% of people are making analyze that says it will go up and 50% say down. Argh It's so hard knowing what the trend is hehe
  • #1,353
  • Feb 27, 2012 8:38am Feb 27, 2012 8:38am
Quoting Proffesor Pi
Didn't get it to work..

But I'm not sure if I want to try this system before someone can verify that system works in the long run.. with many trades... and considerable ROI.

Like I said in my last post.. R:R and not having to care about the trend from higher time frames sounds crazy.

I really hope it works though because trading with trend is hardest thing in forex I think.. Look at higher time frames and do trend lines, fib etc... You never know how far the retracement go.. or if it's reversing.. or if what you thought was uptrend is just...
All I can say is that trading is more about you then what system you use.

You could have best systems and you wont be able to make winning trades, and you could have just a normal system but still make enough winners.

As for this system, I believe, because it is based on Renko chart, time-frame doesn't play as much part. May be I am wrong, but it would surely help if you do some reading on range, renko, point & figure etc. I guess trend would get included in these kind of charts from my understanding.

As for giving this system a try, entirely upto you, but if you are just searching for a system which someone else has made and would give you exact entry/exit points, without any hard work on your part, and also give you r:R of your choice, then I would say my friend may be you are looking in wrong place.

FF is the place where people put forward their ideas in different form, everyone helps to fine tune it, everyone learns and teaches and along with profits.

I am not trying to undermine you, just letting you know that if you try out a system and than decide if it is for you or not, it would be worth because it would be your experience. You can't wait for enough people to try a syste and let you know about their experience. Instead of waiting for that time, I would rather try it myself, fine tune it the way I want and than decide if I want to use it further or not.

Apart from all these, send PM an email if you need to set it up.
I don't keep checking all the forums everyday, there are loads of wonderful knowledge gaining threads, which is more fascinating then the pips I could make.

Regards
  • #1,354
  • Feb 27, 2012 9:46am Feb 27, 2012 9:46am
Quoting gj6n68
All I can say is that trading is more about you then what system you use.

You could have best systems and you wont be able to make winning trades, and you could have just a normal system but still make enough winners.

As for this system, I believe, because it is based on Renko chart, time-frame doesn't play as much part. May be I am wrong, but it would surely help if you do some reading on range, renko, point & figure etc. I guess trend would get included in these kind of charts from my understanding.

As for giving this system a try, entirely...
Fair enough.. I'm kindof new to forexfactory.. And the impression I get when reading the OP is that the system is complete already.. that he is just helpful and sharing it with us who are still struggling.

I'll take some more looks at this tomorrow perhaps.. There's many systems to choose between.. I need a scalping system.. this one attracts me because of only needing 1 TF.
  • #1,355
  • Feb 27, 2012 10:08am Feb 27, 2012 10:08am
hello mihalio,
can you make a EA for your renko candles only ?
Entry rules: buy after one bullish candle completed (2nd blue candle)
Exit rules: close after one bearish candle completed (2nd red candle)
<<vice versa for short position>>
Also include TP, SL and trailing stop.
Thank you
  • #1,356
  • Feb 27, 2012 3:43pm Feb 27, 2012 3:43pm
Sidana
Mihailo isn't making EA's because they don't work
Have a nice day
  • #1,357
  • Feb 27, 2012 5:04pm Feb 27, 2012 5:04pm
Quoting Sidana
hello mihalio,
can you make a EA for your renko candles only ?
Entry rules: buy after one bullish candle completed (2nd blue candle)
Exit rules: close after one bearish candle completed (2nd red candle)
<<vice versa for short position>>
Also include TP, SL and trailing stop.
Thank you
I need lots of money!
can you wire it now to me?
hahahaha
take some advise from someone who has done alot of testing and created alot of renko ea's:
renko ea's might work,but not on MT4 as the data is scewed in backtesting to make us believe that the ea will turn big wins.
Wrong, we are being scammed, ea's dont work on metatrader unless foreward testing proves accurate, any backtest will not show correct results.
trading systematically with dicipline with a manual entry is the holy grail.
its not as exciting as you might believe.
learn to trade from the pro's.
  • #1,358
  • Feb 27, 2012 6:05pm Feb 27, 2012 6:05pm
Quoting Proffesor Pi
Thanks!


I have been reading very many pages and looking for people who have traded this system long time to see if they are successful.. but can only find people who have tested a few trades.

This system sounds amazing because easy rules to follow and minimal discretion needed.. and best of all.. You don't need to look for trend on higher time frames.. only follow the rules.

But it just sounds too easy..
Also that risk:reward is something like 2:1 or 3:1.... which is terrible.
r:r should be opposite... 1:2 or 1:3... or at least 1:1....

Hi,
I think this method is amazing and i keep coming back to it as it is very reliable compared to most others ive traded.
I understand your concernes when it comes to RR and the old 15 pips profit all the time. Its hard to stomach such bad RR but it is reliable and consistant, i havent traded 100 plus positions my self but i have done alot of manual backtest and like to just trade with aud/usd and Eur/usd pairs taking maybe 1-2 trades per day but sometimes non at all as im in australia and all the action occures when im asleep.

I have been looking for a solution to a few issues i see here.
1. RR
2. reliance in lagging indicators (easyryder signals)

the solutions i wont go into detail as its not my forum but ive found that if you overlap a 13 bar renko on the chart using zig renko indicator you see the structure of the market in price, using fractals on a 13 bar renko gives you trend as well as 54 and 72 coral both the same colour give a good trend to. enter on pull backs to the corals and 13 bar structure.
RR is ussually 3:1 nad you catch the start of the trend.
its like the floor trader method for renko.
ive found trading on pullbacks is the best for RR.
good luck
  • #1,359
  • Feb 27, 2012 10:29pm Feb 27, 2012 10:29pm
Quoting Jon618
Hi,
I think this method is amazing and i keep coming back to it as it is very reliable compared to most others ive traded
Hi John
A couple of Q's pls.
How long have you been using this technique for?
What are the m2 charts for and if we don't use them can I close them or will this upset the other charts?
How do you decide the ideal moment for entering a trade?
To determine my exact entry point I use a separate 1 min chart.
Have a nice day
  • #1,360
  • Feb 28, 2012 8:27am Feb 28, 2012 8:27am
Quoting Proffesor Pi
Fair enough.. I'm kindof new to forexfactory.. And the impression I get when reading the OP is that the system is complete already.. that he is just helpful and sharing it with us who are still struggling.

I'll take some more looks at this tomorrow perhaps.. There's many systems to choose between.. I need a scalping system.. this one attracts me because of only needing 1 TF.
I am happy that you are going to give fwe things a try.

Just once more, there is no time frame in renko my friend, please go and read about it.... renko is about the number of ticks/pips.... doesn't matter how much time it takes...

Hope you read about range, renko, etc.. etc. etc... all the best...
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