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Renko and Ichimoku Cloud Cross

  • #21
  • Oct 29, 2012 5:45pm Oct 29, 2012 5:45pm
I have been emailed by one of my friends who has worked for 2 brokers - and is currently working for a third.
THIS IS A DIRECT COPY OF HIS COMMENTS
"I have to tell you that trading manually is still the best option because the brokers can do a lot of things against their clients and EA won't notice like:
slowing execution
rejecting trades
widening the spread or slippage
and a lot of other things."

he appears to be saying that manual trading is the only way forward.
I will post my system and entry and exit criteria (Renko based) along with my indicators in the next few days.
Regards
George
  • #22
  • Oct 29, 2012 6:03pm Oct 29, 2012 6:03pm
subscribing
  • #23
  • Oct 29, 2012 8:40pm Oct 29, 2012 8:40pm
I am long nzdusd with another strategy but it may be setting up for a buy later on with Renko Chart.....the 1 minute has been posting higher highs and higher lows...and the 4hour and 1 hour point to Bullish bias...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: renko m1.gif Size: 39 KB
Click to Enlarge Name: renko.gif Size: 39 KB
  • #24
  • Oct 29, 2012 9:08pm Oct 29, 2012 9:08pm
Quoting 2george
I have been emailed by one of my friends who has worked for 2 brokers - and is currently working for a third.
THIS IS A DIRECT COPY OF HIS COMMENTS
"I have to tell you that trading manually is still the best option because the brokers can do a lot of things against their clients and EA won't notice like:
slowing execution
rejecting trades
widening the spread or slippage
and a lot of other things."

he appears to be saying that manual trading is the only way forward.
I will post my system and entry and exit criteria (Renko based) along...
I have found that EA'a are good for quick entries like when scalping. But over all on larger time frames i prefer to trade manual.
  • #25
  • Oct 29, 2012 9:45pm Oct 29, 2012 9:45pm
Just in case anyone wants to follow along when i trade at the top of this journal is a "Trade Explorer" it will tell you the buy price stop loss and exits i am using. I know it says Demo and that is so you see when and how i trade just this system.
  • #26
  • Oct 29, 2012 9:50pm Oct 29, 2012 9:50pm
Quoting 4xplosion
I am long nzdusd with another strategy but it may be setting up for a buy later on with Renko Chart.....the 1 minute has been posting higher highs and higher lows...and the 4hour and 1 hour point to Bullish bias...
On your 1 min chart if you apply the same setting as the Renko it helps as a guide sometimes on picking re-entry. For example on a buy when price crosses over to the downside on the larger 9,26,52 cloud i re enter when it crosses back over to the upside.
  • #27
  • Oct 29, 2012 9:51pm Oct 29, 2012 9:51pm
Quoting jacioux
On your 1 min chart if you apply the same setting as the Renko it helps as a guide sometimes on picking re-entry. For example on a buy when price crosses over to the downside on the larger 9,26,52 cloud i re enter when it crosses back over to the upside.

Very helpful info...thanks!!
  • #28
  • Oct 30, 2012 7:14am Oct 30, 2012 7:14am
Here is a list of the trades taken lastnight. Not sure if its because of the storm but i have some odd trading lastnight. My entry prices were doubled on EUR/JPY and the times at the bottom of the chart seemed to be messed up as well. Either way im up for the night.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GJ.jpg Size: 132 KB
Click to Enlarge Name: EURs.jpg Size: 130 KB
Click to Enlarge Name: TRADES 1.jpg Size: 64 KB
  • #29
  • Oct 30, 2012 9:10am Oct 30, 2012 9:10am
I've specifically made this for the EU 5 or 10 setting of RenkoRangeBars.
The chart is on the PDF.
The MACD setting for the first signal is 34/89/5.
The MACD setting for the second (entry signal) is 8/13/5 with trigger levels of 0.00015 and minus 0.00015.
When both signal 1 and signal 2 criteria are satisfied, the alert box would indicate an entry short or long.
Following this signal, the diagonal traps would get a very high probability trade with the exit when the MACD indicator completes its value and is less than the value of the previous histo.
I am not sure that this is sufficient for an EA but if an alert is made and the results are good then the EA would be the next step
The template will NOT work on any other chart, only the EU.
If coders need more information please let me know.
Also if anyone can add to the safety of the trade then let me know and I will produce a further template.
The OBJECTIVE is to get the LOWEST risk and the highest reward alert and then an EA whilst keeping it as simple as possible.
Regards
George
Attached File(s)
File Type: ex4 DivergenceFinderExact1.ex4   9 KB | 500 downloads
File Type: ex4 Fulcrum Master1 v1.1.ex4   9 KB | 488 downloads
File Type: ex4 MACD Crossover Alert.ex4   4 KB | 406 downloads
File Type: ex4 MACD_with_Levels.ex4   6 KB | 433 downloads
File Type: tpl ff.tpl   19 KB | 375 downloads
File Type: pdf FF.pdf   65 KB | 975 downloads
  • #30
  • Oct 30, 2012 11:27am Oct 30, 2012 11:27am
Quoting 2george
I've specifically made this for the EU 5 or 10 setting of RenkoRangeBars.
The chart is on the PDF.
The MACD setting for the first signal is 34/89/5.
The MACD setting for the second (entry signal) is 8/13/5 with trigger levels of 0.00015 and minus 0.00015.
When both signal 1 and signal 2 criteria are satisfied, the alert box would indicate an entry short or long.
Following this signal, the diagonal traps would get a very high probability trade with the exit when the MACD indicator completes its value and is less than the value of the previous...
Thank you for doing an EA; This EA is based on the MACD and Renko correct?

My main focus is cloud crosses with Renko. I have used MACD in the past and I always felt it lagged and sense i trade in a window of time i need quick signals.

Adding the MACD to the cloud might help some of the other traders that hold there trades longer than 5 hours. Right now with the system i am showing on here the standard stop loss is 15 and a target of 40 will generate nice risk to rewards.
  • #31
  • Oct 30, 2012 11:36am Oct 30, 2012 11:36am
4xplosion did you trade last night at all? Im curious to see how your trade did and sense you are trading AUD and NZD i wanted to see how its going as i dont have time to add them to my trades at night.
  • #32
  • Oct 30, 2012 12:18pm Oct 30, 2012 12:18pm
It was not an EA, it is a simple trading system using the indicators I posted.
It uses RenkoRangeBars and MACD - but manually I have CCI and Stochs as confirmers before I draw traps/diagonals to enter.
You may use any, or none of it but I hoped this thread was to put forward our best/simplest systems using Renko/+any other indicator/s to get controlled profits/losses via either an alert or an Expert Adviser.
The theory of targetting 40 pips to exit with a stop of 15 is understood and probably better than most as you too use Renko.
Sometimes the MACD will do better and other times the set profit will do better.
As we are looking to get a 'set' entry and a 'set' exit for a coder to understand, then he has a choice.
You also have an excellent system - and as yours is working very well, I personally would not want to add anything to it.
Regards
George
  • #33
  • Oct 30, 2012 12:30pm Oct 30, 2012 12:30pm
Quoting 2george
It was not an EA, it is a simple trading system using the indicators I posted.
It uses RenkoRangeBars and MACD - but manually I have CCI and Stochs as confirmers before I draw traps/diagonals to enter.
You may use any, or none of it but I hoped this thread was to put forward our best/simplest systems using Renko/+any other indicator/s to get controlled profits/losses via either an alert or an Expert Adviser.
The theory of targetting 40 pips to exit with a stop of 15 is understood and probably better than most as you too use Renko.
Sometimes...
Ok i understand now - If you dont mind posting a few charts going forward with the MACD you are talking about and how you enter and exited a trade that would be great.

I am intrigued about the setup and process you have. It would be nice to get away from the hard stops and targets i use and have something that can keep us in a bit longer. There are times when a target of 40 is hit and then it runs for 30-40 more pips.

In all honesty you seem more versed in the MACD and i would like to see some of your ideas played out on there.
  • #34
  • Oct 30, 2012 12:39pm Oct 30, 2012 12:39pm
If anyone else has an idea that is related to the RENKO chart feel free to share them. I will continue to post what i am doing daily and if i dont you can always see what i have done with the trade tracker at the top of the forum.

I also wanted to say if you post an idea also post a chart of of what you are doing. It would be even better to post taken trades; i prefer forward testing ideas to see how they play out as back testing is nice but forward testing gives us the advantage to seeing it work or not work.
  • #35
  • Oct 30, 2012 12:40pm Oct 30, 2012 12:40pm
Quoting jacioux
4xplosion did you trade last night at all? Im curious to see how your trade did and sense you are trading AUD and NZD i wanted to see how its going as i dont have time to add them to my trades at night.

My Renko charts froze up on me for some reason....so missed the trades for any aud and nzd and there were plenty.....however, the hurricane is what caused the moves so it would have not been a viable representation for testing. I did manage to catch the usdchf move for 20 pips however.
  • #36
  • Oct 30, 2012 12:48pm Oct 30, 2012 12:48pm
Taking the recent cross in USDJPY. I feel its a good spot to be in before BOJ later.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.JPG Size: 31 KB
  • #37
  • Oct 30, 2012 12:52pm Oct 30, 2012 12:52pm
Quoting 4xplosion
My Renko charts froze up on me for some reason....so missed the trades for any aud and nzd and there were plenty.....however, the hurricane is what caused the moves so it would have not been a viable representation for testing. I did manage to catch the usdchf move for 20 pips however.
Thats great on CHF i was in it earlier today but closed out at 10. My MT4 freeze as well when i have more than 10 charts open. You figure 5 pairs PLUS the 1m charts to have the Renko i want more but the computer cant handle it.

Keep us posted on how you are doing with the other pairs i want to add them to the list but for the reason above i cant.
  • #38
  • Oct 31, 2012 6:53am Oct 31, 2012 6:53am
All 5 pairs i trade presented a signal. 5 winners.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: MULTITRADES.jpg Size: 193 KB
Click to Enlarge Name: TRADES 1.jpg Size: 40 KB
  • #39
  • Oct 31, 2012 2:46pm Oct 31, 2012 2:46pm
Yes like shooting ducks the last few days...but not representative of a typical week for ANY system.....still not complaining.... the market taketh....and the market giveth!
  • #40
  • Oct 31, 2012 5:24pm Oct 31, 2012 5:24pm
Here is my full chart with all indicators, CCI, MA & Stochs.
The renko set at 10.
All indicators under the chart are over their momentum levels.
Chart diagonal traps and indicator traps are coonfirming.
Stop in place (blue support).
Any coder interest yet?
Regards
George
Attached Image (click to enlarge)
Click to Enlarge Name: ff.gif Size: 28 KB
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