Attachments: Fxkred's Renko System

Fxkred's Renko System

#141
Sep 12, 2012 2:54am Sep 12, 2012 2:54am

fxkred
| Joined Dec 2007 | Status: Trader | 326 Posts

I do not think that there is better Renko maker EA for MT4 then the one in the post #11. I am thinking to make from it median renko type , but needed some spare time.
If anybody has better solution , welcome to post here!

100 pips a day, keeps the doctor away

#142
Edited Sep 13, 2012 5:18am Sep 12, 2012 4:35pm | Edited Sep 13, 2012 5:18am

Phylo
Joined Feb 2012 | Status: Trader | 3,925 Posts

Attached File(s)

0-RenkoLiveChart_v3.3-Labels.mq4 18 KB | 711 downloads

EA Chart (M1) - See Inputs Window for more label and font size options.

Attached Image

Installation instructions - HERE - scroll down to post file45
Renko chart

Attached Image

Tick Generator

EAs are tick dependent and if ticks are not happening the associated offline chart will not respond to new EA settings or update unprinted bar history. The below Tick Generator Tool solves this problem - also helps in normal hours.
FREE Tick Generator Tool - (no referral bs, no spam)

Attached Image (click to enlarge)

Click to Enlarge

Name: Tick-Sender-Genenerator.JPG
Size: 51 KB

TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**

#143
Sep 19, 2012 1:46pm Sep 19, 2012 1:46pm

fxkred
| Joined Dec 2007 | Status: Trader | 326 Posts

Todays fib confluence trades

Attached Image (click to enlarge)

Click to Enlarge

Name: EU_4r_fib confluence_0919.jpg
Size: 105 KB

100 pips a day, keeps the doctor away

#144
Sep 19, 2012 2:21pm Sep 19, 2012 2:21pm

bayfisherman
Joined Nov 2011 | Status: Trader | 2,022 Posts

Nice work there on the fib cluster....

Quoting fxkred

Disliked

Todays fib confluence trades

Ignored

#145
Sep 19, 2012 8:30pm Sep 19, 2012 8:30pm

Kavklov
| Joined Apr 2009 | Status: Trader | 26 Posts

Fxkred,

Great stuff!!
I would like to know if you guys have a Volume indicator that work with renko bars. I have tried the one that comes with MT4, Hawkeye and Better Volume and none of them give the real volume counts.
I appreciate if somebody could help me with that.

thks

#146
Sep 20, 2012 2:09am Sep 20, 2012 2:09am

fxkred
| Joined Dec 2007 | Status: Trader | 326 Posts

Hi, I think there is no problem with volumes with this renko script.

But the Volume spread analysis (better volume , etc) does NOT work under renko, as the spread means here the RANGE of time-based candles.
So renko hides this important attributum so no sense to use VSA by my opinion.

100 pips a day, keeps the doctor away

#147
Sep 20, 2012 7:25am Sep 20, 2012 7:25am

Blaiserboy
| Joined May 2005 | Status: Trader | 805 Posts

Quoting Kavklov

Disliked

Fxkred,

Great stuff!!
I would like to know if you guys have a Volume indicator that work with renko bars. I have tried the one that comes with MT4, Hawkeye and Better Volume and none of them give the real volume counts.
I appreciate if somebody could help me with that.

thks

Ignored

I am not so sure you should combine volume with this concept as it will confuse your analysis. You might look into a different pip setting to see if you feel more confident with it.
The tool that like to use is something that will show the Fib patterns. Fxkred shows quite a few charts with those as well as Wolfe Wave.

#148
Edited 10:35am Sep 20, 2012 7:41am | Edited 10:35am

Kavklov
| Joined Apr 2009 | Status: Trader | 26 Posts

#149
Sep 20, 2012 8:52am Sep 20, 2012 8:52am

Kavklov
| Joined Apr 2009 | Status: Trader | 26 Posts

Quoting Blaiserboy

Disliked

I am not so sure you should combine volume with this concept as it will confuse your analysis. You might look into a different pip setting to see if you feel more confident with it.
The tool that like to use is something that will show the Fib patterns. Fxkred shows quite a few charts with those as well as Wolfe Wave.

Ignored

My idea is to combine Renko + volume to trade indices... and it is not going to be confusing ...

#150
Edited 11:24am Sep 20, 2012 11:11am | Edited 11:24am

bayfisherman
Joined Nov 2011 | Status: Trader | 2,022 Posts

One that's better than time volume is price volume if you are familiar with market profile...you can purchase that indicator at this site.

Works well on renko charts...here it is on the 6 and 12R

http://indicatoroutlet.com/Volume.htm

Quoting Kavklov

Disliked

My idea is to combine Renko + volume to trade indices... and it is not going to be confusing ...

Ignored

Attached Image(s) (click to enlarge)

Click to Enlarge

Name: market profile1.jpg
Size: 174 KB

#151
Sep 21, 2012 1:57am Sep 21, 2012 1:57am

fxkred
| Joined Dec 2007 | Status: Trader | 326 Posts

Overnight GBPUSD trade. Harmonic pattern, fibo expansion, and previous levels the targets.

Attached Image (click to enlarge)

Click to Enlarge

Name: gu_harmonic_fib expansion 0921.jpg
Size: 119 KB

100 pips a day, keeps the doctor away

#152
Sep 21, 2012 7:36am Sep 21, 2012 7:36am

fxkred
| Joined Dec 2007 | Status: Trader | 326 Posts

waves and fibos EU 4R

Attached Image (click to enlarge)

Click to Enlarge

Name: eu_4r_eliott_0921.jpg
Size: 81 KB

100 pips a day, keeps the doctor away

#153
Sep 23, 2012 11:20pm Sep 23, 2012 11:20pm

PeterE
Joined Oct 2009 | Status: magic | 1,729 Posts

working on a renko strategy presently.......nice tool
.

Attached Image (click to enlarge)

Click to Enlarge

Name: 2012-09-24_1418.png
Size: 18 KB

#154
Sep 24, 2012 2:41am Sep 24, 2012 2:41am

fxkred
| Joined Dec 2007 | Status: Trader | 326 Posts

A little help for those, who want to find the optimal trade enty by Inner circle trader :

Inserted Video

100 pips a day, keeps the doctor away

#155
Sep 24, 2012 2:53am Sep 24, 2012 2:53am

fxkred
| Joined Dec 2007 | Status: Trader | 326 Posts

And a very fresh, good example from today's EU.

Attached Image (click to enlarge)

Click to Enlarge

Name: eu_4r_entry_0924.jpg
Size: 90 KB

100 pips a day, keeps the doctor away

#156
Sep 26, 2012 7:51am Sep 26, 2012 7:51am

fxkred
| Joined Dec 2007 | Status: Trader | 326 Posts

Good old tactics in GOLD.

AB = CD.

Attached Image (click to enlarge)

Click to Enlarge

Name: Gold_8R_0926.jpg
Size: 79 KB

100 pips a day, keeps the doctor away

#157
Sep 26, 2012 8:10am Sep 26, 2012 8:10am

fxkred
| Joined Dec 2007 | Status: Trader | 326 Posts

Otherwise very funny moves on GOLD. False brekouts, then a big move, and it is many times now.

Attached Image (click to enlarge)

Click to Enlarge

Name: gold_h1 moves.jpg
Size: 365 KB

100 pips a day, keeps the doctor away

#158
Sep 28, 2012 1:21am Sep 28, 2012 1:21am

fxkred
| Joined Dec 2007 | Status: Trader | 326 Posts

Yesterday Euro-dollar 4R. Ab=Cd pattern.

Attached Image (click to enlarge)

Click to Enlarge

Name: EU_4R_abcd_0927.jpg
Size: 86 KB

100 pips a day, keeps the doctor away

#159
Sep 29, 2012 5:37am Sep 29, 2012 5:37am

damonl
Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts

Does this inform me each time there is a reversal? If so, this is what I have been looking for. All the others I have found inform me every time a bar closes, which for me is a bit of an overkill.

Quoting marley60

Disliked

try this

Ignored

"Keep your eyes on the helpers" - Mr. Rogers

#160
Sep 30, 2012 7:59am Sep 30, 2012 7:59am

damonl
Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts

Hello Fxkred:

Thanks for your thread. I think you are doing a lot of good things here. The idea of using harmonics with renko is a great idea and this is my first experience with the wolf wave, so I will have to do some looking into it a bit. As such, I am giving you a vouch. Good job man! I think you've earned it. I also trade renko and regular bar charts.

One day while looking around I came across this set of free renko indicators. I found them very interesting.

The RenkoFast will take whatever value you put in for the renko bar size and plot those lines on a regular candlestick chart. Pretty neat. The RenkoMash will do a basket of bar sizes and compare them together to create a histogram. For example, it will take 10, 20, 30, 40, 50, pip bar sizes, etc (ten pip increments) and it will form a histogram based on whether each bar size is a step up or a step down. You could also do it in 5 pip increments, or whatever. I found it very interesting as well. The RenkoMash indicator can also be placed on a regular candlestick chart, and the RenkoFast indicator also has the step feature.

Another indicator that I like to use is a channel type indicator. It is nice because it helps fairly accurately determine when a pair is going to reverse and come back down or reverse and climb back up. When it hits these outer ranges I start looking for a reversal. I use it on both renko and candlestick charts.

It would be great to have an ea that would automatically close open trades if a bar closed in the opposite direction as the way the trade was placed. As such, if I were long using 5 pip bars and had to leave, I could put on the EA and I could leave my trade open since I know that the EA would close my order as soon as a 5 pip bar closed against me. Kind of like a safety feature if I had to leave an open trade.

Do you know of any such software like that out there? I have been looking around, but haven't found anything like it. As well, I am going to post a nice mangement EA as well. I am thinking about having someone code the feature above right into this EA if there is not something already out there, as this EA already has the ability to manage multiple trades.

For the most part I don't trade using any fancy methods. I simply look for double tops/bottoms, higher highs/lower lows, and trades off my channel lines. I usually also trade in the direction of how I determine the trend, and unfortunately, I am not able to post that indicator as it was one that I paid for and don't know if it is free somewhere. I searched here on the FF and did not find it anywhere, so I have to assume that it isn't.

I also use a 34 LWMA h/l/c settings to also help with determining trade directions and bounces in the direction of the trend. Sometimes trades happen so fast that it is reather thrilling. I also check regular bar charts with the same indicators on the daily chart to look for trades and make trades from and compare candlestcks and renko bars. I am sure, much the same as you. Also on my chart is the TrendMagic indicator which is free and so I attached it as well.
Also attached is a screen shot of what my charts look like as renko and as candlesticks that I use for verification, etc. On the candlestick chart you can see Renko Mash histogram which I have set to multistart = 10, multiend = 100 and multistep = 2. (No real reason for these settings, just trying lots and most likely where I left it). This means that it is starting with a 10 pip renko bar, and going up to a 100 pip renko bar in steps of 2 and using those settings to creat the histogram bar.

Anyway, I think that I have talked enough. But, I thought I would just share a bit of informaton to your thread. I hope you enjoy and I'll probably see you around.

Dust

Attached File(s)