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MT4-Indicator: Adjustable Shift Renko Chart Builder Indicator

  • #61
  • Oct 28, 2013 12:08am Oct 28, 2013 12:08am
Quoting DrNoStopLoss
Okay below are my my 2 posted pics. The first one is my M1 chart. This works great. Every pip when EUR/USD goes up or down, the bid price moves with it. The problem is my M2 chart. It does not move on the bid price for every pip. Am I doing something wrong. M1 price is 1.3814 and M2 price is 1.3801. My settings are 16 pip renko shifted at 25%. I would think at the minimum the bid price would move at least every 4 pips? Please advise on what I should do? I thought a new candle would form every 4 pips. {image} {image}

Hi My Friend DrNo..,
First, try to open your renko chart builder indicator in your M1 feeder chart, without changing anything, and close it. then refresh your M1 chart. Sometimes after weekend we need to refresh data.

Btw, are you sure you take that both pictures M1 feeder chart and M2 offline renko chart at same time ?, since the current candle date seem different so far..
Your M1 feeder chart:27 Oct 21:41 and your M2 offline chart :25 Oct 07:57, what is your MT4 broker server GMT ?. There is DST change right now for Europe and a week later for USA.

Please try to make your both charts tile vertically before you save as pictures, so we can compare exactly what wrong with your charts. Thank You.

Hope it help, and best regards.
  • #62
  • Oct 28, 2013 2:17am Oct 28, 2013 2:17am
Hi all, sorry if this might little bit different..
One of my friend in GeoChart Study want to know what '3 dimensional aspect of price movement (AdvGeoCharting)' meaning.. visually

ok then here we go.. picture will explain better than words..

Attached Image (click to enlarge)
Click to Enlarge Name: 20131028 EU 4p12.5% 3dimensional price movement.png Size: 359 KB


Hope it help and best regard
  • #63
  • Oct 28, 2013 5:44am Oct 28, 2013 5:44am
Quoting Kiads
{quote} Hi My Friend DrNo.., First, try to open your renko chart builder indicator in your M1 feeder chart, without changing anything, and close it. then refresh your M1 chart. Sometimes after weekend we need to refresh data. Btw, are you sure you take that both pictures M1 feeder chart and M2 offline renko chart at same time ?, since the current candle date seem different so far.. Your M1 feeder chart:27 Oct 21:41 and your M2 offline chart :25 Oct 07:57, what is your MT4 broker server GMT ?. There is DST change right now for Europe and a week later...

Got it. Many thanks. Headed to the office, I'll study later tonight. Be back later. Thanks again my friend.
  • #64
  • Oct 28, 2013 7:55am Oct 28, 2013 7:55am
CREATING SIMPLE TRADING SIGNAL with Shifted Renko Chart and Standard Indicators

Ok, Guys after we know how we select common period for our indicators, now lets continue with creating simple trading signal with combining 2 or 3 standard indicators.

I don't want to name this trading strategy or trading system, because this simply give you signal direction probability, not the whole trading strategy that must be include Money Management, Trade Psychological Aspect,Global Economic Knowledge, etc, etc that outside the boundary of this technical thread.

Well, let we name this simple trade signal : WillDema , since we will use William Percent Range and DeMarker Standard Indicators.

Actually I can create custom indicator for this setup, that will show you Direction Arrow on your chart with fancy alert..etc..etc, but I believe that kind of Arrow only give you Sign, but not Knowledge of what's going on, so i prefer to explain from the beginning (without any template.. lol).

First, as usual we will use GeoRenko (8 point brick size with shift 12.5% )and use EURUSD for this example.

Just for you who don't know: If you want to make default set of offline chart, for example color setting for the chart background, candle color, zoom size, default indicators that always in your chart..etc..etc, you can create that,, and after you satisfied with its look, just save it as template with name : offline (this will become your default chart every time you open any offline chart), and for your standard online chart you can do the same and save it under name : default.

OK, lets continue:
1.
Put 1st DeMarker Indicator to your GeoRenko Chart. use Period 34 (17x2) make the line bold. (this will become your general trend indicator). at the level tab put 0.5 level and make it bold too. At Parameter tab, change fixed minimum from 0 to -0.25 and fixed maximum from 1 to 1.25. I prefer DarkGoldenrod color for my white background chart. The result will be like this:

Attached Image (click to enlarge)
Click to Enlarge Name: WillDema 001-Demark period 34.png Size: 255 KB


2.
Next we click and drag 2nd DeMarker Indicator to our 1st DeMarker34 Sub window. use Period 9 (actually we need period 8.5 (17/2) but can't do that so we use 9 instead..lol), put level 0.15 and 0.85 with thin line, and change fixed minimum and maximum just same like 1st DeMarker Indicator. I prefer Blue Color Line for this one. The result will be like this:

Attached Image (click to enlarge)
Click to Enlarge Name: WillDema 002-Demark period 9.png Size: 299 KB


3.
After that lets met DeMarker with his friend William, by click and drag WPR to that Sub window. use Period 17, use level 0f -95 and -5 with dotted or dash line, and change fixed minimum to -125 and fixed maximum to 25. I prefer Magenta color with thin line for this. The result will be like this;

Attached Image (click to enlarge)
Click to Enlarge Name: WillDema 003-WPR 17.png Size: 350 KB


4.
That all we need. Now, where is our direction signal ? here we go.. just as usual, looking for cross of DeMarker 9 and WPR 17 in OBOS area, as we can see in this picture bellow;

Attached Image (click to enlarge)
Click to Enlarge Name: WillDema 004 The Signal.png Size: 329 KB


Well just learn it in your chart history, and watch in real time. that the better way to understand if this simple trade signal is good enough or not..
Anyway this is only silly example...lol.

Hope it help, and happy trading all
  • #65
  • Oct 28, 2013 8:40am Oct 28, 2013 8:40am
Quoting Kiads
CREATING SIMPLE TRADING SIGNAL with Shifted Renko Chart and Standard Indicators Ok, Guys after we know how we select common period for our indicators, now lets continue with creating simple trading signal with combining 2 or 3 standard indicators. I don't want to name this trading strategy or trading system, because this simply give you signal direction probability, not the whole trading strategy that must be include Money Management, Trade Psychological Aspect,Global Economic Knowledge, etc, etc that outside the boundary of this technical thread....
Hey Kiads,

do you have any suggestions about exit?

Regards!
  • #66
  • Edited 9:07am Oct 28, 2013 8:53am | Edited 9:07am
Quoting Zokynho
{quote} Hey Kiads, do you have any suggestions about exit? Regards!
Hi My Friend Zokynho, suppose you already have Short position that you open when WPR17 cross DeMark9 in OB area, and that became good trade, price going down, after that please watch when WPR17 'touch' DeMark34, is that good place to exit ?

Hope it help and happy trading

PS : Hopefully this picture will explain better

Attached Image (click to enlarge)
Click to Enlarge Name: WillDema 005 The Exit.png Size: 367 KB
  • #67
  • Oct 28, 2013 9:26am Oct 28, 2013 9:26am
Quoting Kiads
{quote} Hi My Friend Zokynho, suppose you already have Short position that you open when WPR17 cross DeMark9 in OB area, and that became good trade, price going down, after that please watch when WPR17 'touch' DeMark34, is that good place to exit ? Hope it help and happy trading PS : Hopefully this picture will explain better {image}
Yes Kiads all clear tnx!

Regards
  • #68
  • Oct 28, 2013 9:30am Oct 28, 2013 9:30am
Er... is there any consistent sign of similarity in this 4 signals (2 Long and 2 Short)? should we count the bricks ?

Attached Image (click to enlarge)
Click to Enlarge Name: WillDema 006 Consistent Sign Similarity.png Size: 314 KB


  • #69
  • Oct 28, 2013 10:09am Oct 28, 2013 10:09am
Okay I see the 9 bricks going down both times and 9 bricks going up twice. Not sure what this means, because there are more bricks beyond what you have highlighted from red to green. Please enlighten us.
  • #70
  • Edited 10:57am Oct 28, 2013 10:17am | Edited 10:57am
Quoting DrNoStopLoss
Okay I see the 9 bricks going down both times and 9 bricks going up twice. Not sure what this means, because there are more bricks beyond what you have highlighted from red to green. Please enlighten us.
Maybe, good signals consist of at least 9 bricks without any interruption (opposite direction brick)...

maybe this kind of Signals that we should patiently waiting for..

Attached Image (click to enlarge)
Click to Enlarge Name: WillDema 007 Good Signals.png Size: 272 KB


or this one that not really straight line downtrend but with good opportunity to scale in.

Attached Image (click to enlarge)
Click to Enlarge Name: WillDema 008 Good Signals for Scale in.png Size: 330 KB


hope it help and happy trading
  • #71
  • Oct 28, 2013 12:43pm Oct 28, 2013 12:43pm
Dear Kiads

Just a suggestion wath you think about

Fischer no repaint indi..
Attached Image (click to enlarge)
Click to Enlarge Name: bb.png Size: 278 KB
  • #72
  • Oct 28, 2013 12:54pm Oct 28, 2013 12:54pm
Quoting mara1
Dear Kiads Jus a sugesstion wath you think about Fischer no repaint indi.. {image}
I think it looks good so far, but Kiads would be an expert in this area. Kiads has given us an excellent chart to play worth and master. It's ALL of our jobs to find the right indi's to use this powerful tool and make it even better. That means weather it is an oscillator, TMA, etc. we need to find something that really works. I think we are very close.


mara1 can you post the Fischer ind I'm sure some of us will take a look at it, and let us know your settings. Also what are your renko size and shift on your eur/usd chart?
  • #73
  • Oct 28, 2013 1:04pm Oct 28, 2013 1:04pm
Quoting mara1
Dear Kiads Just a suggestion wath you think about Fischer no repaint indi.. {image}
Hi My Friend Mara1, it is cool, maybe you can share it here for all of our friend, including your setting for this Fisher NRP Indicator.
Do you notice that when DeM34 crossing 0.5 level line and in the same time your Fisher NRP Indicator already traveling her half curve ? once again do you count the fisher bars from the begining of her curve (crossing 0) until that half curve (where DeM34 cross its 0.5 level) and how many bars left for the fisher curve ? is that similar ? and if the answer is yes, do you think you can guess how many bricks after that half curve the price 'will' stay in same direction ?

Hope it help and happy trading.
  • #74
  • Oct 28, 2013 1:05pm Oct 28, 2013 1:05pm
Quoting DrNoStopLoss
{quote} I think it looks good so far, but Kiads would be an expert in this area. Kiads has given us an excellent chart to play worth and master. It's ALL of our jobs to find the right indi's to use this powerful tool and make it even better. That means weather it is an oscillator, TMA, etc. we need to find something that really works. I think we are very close. mara1 can you post the Fischer ind I'm sure some of us will take a look at it, and let us know your settings. Also what are your renko size and shift on your eur/usd chart?

Sure DrNoStop here is

BUT I use Renko 12 with 12,5% and Fischer sett. 14,0,0 false,false,

reg mara
Attached File(s)
File Type: mq4 FX Fish.mq4   4 KB | 1,659 downloads
  • #75
  • Oct 28, 2013 1:15pm Oct 28, 2013 1:15pm
That might be a bit too fast for me as each renko bar is 1.5 pips if I'm not mistaken. Either way I will take a look at it later tonight and report if I find something good on my side. Let us know if you have any luck with it, or still trying it out.
  • #76
  • Oct 28, 2013 1:24pm Oct 28, 2013 1:24pm
Quoting mara1
Dear Kiads Just a suggestion wath you think about Fischer no repaint indi.. {image}
Hey Mara,

Fisher indy repaint itself and in my opinion it's not worth to use him alone....

Regards!
  • #77
  • Oct 28, 2013 1:32pm Oct 28, 2013 1:32pm
Quoting Zokynho
{quote} Hey Mara, Fisher indy repaint itself and in my opinion it's not worth to use him alone.... Regards!

hello Zokynho

No I dont want to use allone ,I just gav a suggestion,about repainting do no ,for mee looks good I just try to build somthing with all memebers from here

sorry my Englisch

reg mara
  • #78
  • Oct 28, 2013 3:00pm Oct 28, 2013 3:00pm
Here is a Fisher version that doesn't repaint

Quoting Zokynho
{quote} Hey Mara, Fisher indy repaint itself and in my opinion it's not worth to use him alone.... Regards!
Attached File(s)
File Type: mq4 FX_FISH-mod- accurate.mq4   4 KB | 2,088 downloads
Focus, Patience, Determination & Order in chaos
  • #79
  • Oct 28, 2013 3:17pm Oct 28, 2013 3:17pm
Thanks saver,

Let us know if you use it and what you think.

I think the next steps are finding a good indi and settings for our Renko and Shift for each pair. I am thinking basing the renko on volatility, the more a pair ranges from top to bottom the larger the renko bar should be. Let's work together and see what we can come up with. Happy trading!!
  • #80
  • Oct 28, 2013 3:25pm Oct 28, 2013 3:25pm
Quoting DrNoStopLoss
Thanks saver, Let us know if you use it and what you think. I think the next steps are finding a good indi and settings for our Renko and Shift for each pair. I am thinking basing the renko on volatility, the more a pair ranges from top to bottom the larger the renko bar should be. Let's work together and see what we can come up with. Happy trading!!
I don't use the fisher indicator.. just wanted to share the version that I had that doesn't repaint :-)

I have found the MACDs to be very useful. Specifically the attached BB MACD with the default settings. It shows well how/when the trend is changing. Place it in your chart and see how it looks. Also MACD divergence indicator is nice as well. I'm testing it out now.

I think it's important to keep things clean so its easier to identify the price action and so you don't get distracted :-) Draw trend lines and learn price action well.. With Renko its easier to draw trend lines so its very helpful..
Attached File(s)
File Type: ex4 BB_MACD_CCT.ex4   4 KB | 1,808 downloads
File Type: mq4 FX5_MACD_Divergence_V1.1.mq4   12 KB | 1,369 downloads
Focus, Patience, Determination & Order in chaos
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