Animal Farm (Renko system)

Hello Everybody !
I didn't mean to create a mess in this thread, my apologies for that, I just want more specific information Wab. I would like to make a contribution to this forum.
I spend some time to get all information about fractals and see how it works, and how to use it with order flow, I found the way.
It is kind of complicated, especially with Renko 4 bar, price is moving fast, you have to be very quick. But it works.

I will place some charts.

Wab I need your help, can you explain how do you place orders ? And stop loss?
Trailing doesn't work well, as I want to follow fractals until we have brake in direction.

Here is 2 charts from today.

I hope, you understand the idea, There is some details, when market goes side ways.
Renko charts + fractals, nothing else!

Trading time Mon-Fri, from 12 am EST to 12 pm EST

One more chart

Nice trades monocor, what Renko settings are you using, your charts look different to mine? Compare this to your first chart, I'm using settings as Wab shows in post 2

It nice trades, but it is not what I really trade.
It was just the main idea of order flow.

I can show you what I am really trade, sorry I don't use MT4 for order placing, I can't show you my trades on the chart. I am trading only patterns. It is really profitable.

I want to make a deal, I need 10 vouchers, to get a full access on forex factory.
I will show you one pattern, if you will trade it you will be profitable for long time. Try this way, if you like it vouch for me, please.

Here is the chart, where I show my way of trading.
I am using BB100, Macd 12 26 9 (standard), and round levels 50 and 100.
Price has to brake or pin through BB, and pattern has to accrue, with divergence on MACD.

One important advise, watch for the levels, if you want to open a trade, and you have a level right in front of you, skip that trade

How to trade it

Don't worry about lagging indicators. With renko you have only price calculation, so it has different prospective. Let's say it is less lagging with out time parameters

If you don't want to place Limit order, place alarm on price level

Thanks for sharing !
What is your box size ?

You can use 4 pips.

Thanks for sharing your charts and ideas..!!

daveM

Hi everybody.

I have been battling the elements. We had some minus 35 weather then it warmed up and rained. The rain just froze to the ground and made a barrier of ice a foot thick or more. Then it warmed up and snowed and then rained again. The result was a large pond around one side of my house. I have never had a water problem there before. So I have been breaking ice, pumping water and trying to stay ahead of a potential problem. We are getting a pine-apple express, warm moist air from the Pacific. It hits the Rocky Mountains, cools off and dumps precipitation on us. If it is snow the ski hill rejoices but they are shut down today with high winds and rain. Not all bad though. I did get two fantastic days of skiing in.

Thanks to all for keeping the thread going while I was other-wise occupied.

Tonight I will post a promised indicator, a wick alert really, and try to answer some questions. I will also show you how I use a second LOC trailing method that I have found good with Renko.

Back to the pump as it is raining again. So far so good.

Nice to see you again WAB. Sorry about the weather problems. Seems many are really getting hammered.
Look forward to hearing more from you.

Attached, is a semi-useful alert for when a wick occurs on a Median Renko Chart.

Use these settings:



You will have to re-set it if you have closed a Renko Chart just select Edit and then re-open it.

It sounds an alert and prints an arrow on the chart and draws your attention to a wick brick.

You can't follow it blindly but it is good for an alert. If you want to, you can compare it to fractals.

I like to try and enter when the market pulls back and catch an early move on its way to a fractal
break out. This helps.

Here is a theoretical diagram that I hope will make the trend analysis a bit easier to understand.



(Note that the HH HL sequence has to be counted carefully when the fractals are close in price. The area in the ellipse illustrates this.)

Then we get a LL that breaks that last HL and the trend change is confirmed. The best entry we can get is as close to the first
LH as we can. On a median Renko Chart that is the wick entry bar.

Our stop will be just above the HH. A new flow of Supply has turned the price down at the HH and when it attempts to go higher again, we are ready for it. That first LL break below the HL red line tells us it likely can't manage to overcome the Supply Zone.

Now, the price trends down with a LL LH sequence until a new HH breaks the last LH at the green line and the trend is reversing again.
This time off a Demand Level.

Lets look at a real time trade where this is applied.

I was a bit late getting in on this one. Still it illustrates the method nicely. I also used LOC set to trail a fractal stop.



You can see the Wick Alert Arrows and the De Mark Trend lines. I will add labels in a bit.

See if you can figure out the best wick entry based on the first LH fractal.

LOC waits for a fractal to form so that it can move the stop. You can do this yourself of course.



You could also take profit once you get a two bar reversal, but I am letting LOC do the trailing stop.