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Renko Power System

  • #141
  • Jan 16, 2014 1:18pm Jan 16, 2014 1:18pm
Quoting Goodgame42
{quote} The USDJPY and GBPJPY are exactly the same so why one of them is correct and
not the second ?
Hello Goodgame42,

If you can see the USD/JPY, then you should notice that PSAR dot was there one bar ago and panosmgr entered on the trade after 1 bar, so that means, 1 bar late, and according to the rules, we must enter on the trade when all indicators give us a signal together...

In this way, we can get pips from the starting, and that's the best way to avoid whipsaws. If you want to add some more indicators, then you are free from any pressure.

BTW, you have done a good job today, +50pips are more than enough for me, and ofcourse for you.

Best Regards,
PrinceWahaj
  • #142
  • Jan 16, 2014 1:40pm Jan 16, 2014 1:40pm
Quoting Gemini Man
{quote} Yeah panosmgr, thats a good advice. here are my charts of EU and GU today trading, close +63 pips after Bernanke Speaks. The charts belows are captured before i closed them manually for a private reason, even the OP already saved by the trailing stop. i placed other indies just for own test, basically i used Wahaj system. Bye.... GM {image} {image}
Hello GM,

Good work and keep it up! You know, we all need some encouragements, i appreciate yours and others results.

I miss you (PIPS), hope to get back to trading soon.


Best Regards and Best Wishes as usual,
PrinceWahaj
  • #143
  • Jan 16, 2014 2:22pm Jan 16, 2014 2:22pm
Quoting Alan_D
Hi all, I hate to be a newbie, but I am new to Renko Bars. Is it common for Renko bars to be going one way and price another. Have I done something wrong in the setup?. Thanks for any help I can get! I am also getting crazy timestamps on the M2 chart if that helps.
Hello Alan_D,

Welcome on the thread!

If you meant like this that, "If the EU pair in 1h timeframe is going upward, so would it will go same in renko bars?" then, the answer is Yes, Renko is just an EA or INDICATOR and its purpose is to remove the noise and candlesticks patterns, you can clearly see in renko that how market moved too much!

Lets take an example, If you are trading on 1hr TF and you saw the candle bar which is too big from both sides, so, would you able to see that in which time it moved forward 5 pips, on which time it moved 6 pips backward again and so on. but if you are trading on Renko, you will deal with the price only and you will decide your trades according to the prices purely, in renko, you can notice how price moved in the real time.

For Setup, just download the Renko Power System.rar file from my first post, download other things too which is indicated in post#1, apply the EA (If you have problems in making M2 chart, let me know), then apply the template, then......ENJOY!

If you want to get alert on possible trades setups, then simply download the PSAR Alert indicator from post#125, then replace it on the chart. Alarm doesn't means that the signal is ready, you will need to confirm if all the conditions are fulfilled.

Conditions (Rules) are stated on the first post.

If you need any help, let us know and we'll be happy to assist you.

Hope it helps!

Best Regards and Best Wishes for you,
PrinceWahaj
  • #144
  • Jan 16, 2014 2:25pm Jan 16, 2014 2:25pm
Quoting blamshakk
hey wahaj this system looks very appealing to me... especially as i work full time so my screen time is limited? what would you recommend as the best way to set up alerts - would it be on the appearance of the semafor? many thanks, looking forward to trading this {quote}
Hey blamshakk,

Welcome!

Download the Psar Alert indicator from post#125, then replace it on the chart with normal psar. For this, you need to download all the indicators+apply the template first.

Please read my reply to Alan_D, you will find your answers!

Best Regards as usual,
PrinceWahaj
  • #145
  • Jan 16, 2014 3:59pm Jan 16, 2014 3:59pm
Thank you Wahaj. I was looking at the timeline on the bottom of my M2 chart and trying to see why it did not make a bar every 2 min. I have learned ( I think) that this is not how these candles work. As best I understand, If I have my box number set to 15 as in post 1, I will not print a candle unless 15 pips of action are seen in the given 2 min timeframe. I would love confirmation of this so I better understand the candles. I also had some issues with Interbank and history that have been resolved. If you (or anyone ) can set me straight on candle formation that would be great. Sounds like an interesting thread with a good bunch of folks. Looking forward to learning all I can. Thanks again to everyone who makes this thing keep going and growing. Pip on!
  • #146
  • Jan 16, 2014 4:04pm Jan 16, 2014 4:04pm
Hello Wahaj, and other user !

Thank's so much for sharing this !
I have a question, on first post you told to us this Install the EA to 1min chart, set the pips box size to15 pips via properties of EA, Select Timeframe = 2 (system must be used in M2 timeframe) I have one problem, my broker (Iamfx) dosen't have M2 timeframe, i can use it with other Timeframe or i need it on M2?


EDIT : I've got one message about EA : Renkolivechart(10) Open Offline chart (name of currency) M2 to view chart.

Thank's so much !
Don't be delicated, be vast and brilliant ! [Brent Smith]
  • #147
  • Jan 16, 2014 4:09pm Jan 16, 2014 4:09pm
Quoting Alan_D
Thank you Wahaj. I was looking at the timeline on the bottom of my M2 chart and trying to see why it did not make a bar every 2 min. I have learned ( I think) that this is not how these candles work. As best I understand, If I have my box number set to 15 as in post 1, I will not print a candle unless 15 pips of action are seen in the given 2 min timeframe. I would love confirmation of this so I better understand the candles. I also had some issues with Interbank and history that have been resolved. If you (or anyone ) can set me straight on candle...
Hello Alan_D,

Renko is not a time based system, if you set the box size to 15, then it means, on every 15 pips, it will create new bar, and it needs the market to move 30 pips against the trend then it will show the opposite color brick.

M2 doesn't means 2 minutes.

Best Regards,
PrinceWahaj
  • #148
  • Jan 16, 2014 4:11pm Jan 16, 2014 4:11pm
Quoting Hyperfire
Hello Wahaj, and other user ! Thank's so much for sharing this ! I have a question, on first post you told to us this Install the EA to 1min chart, set the pips box size to15 pips via properties of EA, Select Timeframe = 2 (system must be used in M2 timeframe) I have one problem, my broker (Iamfx) dosen't have M2 timeframe, i can use it with other Timeframe or i need it on M2? EDIT : I've got one message about EA : Renkolivechart(10) Open Offline chart (name of currency) M2 to view chart. Thank's so much !
Hello Hyperfire,

First of all, as i stated to Alan_D, renko is not a time based chart. M2 doesn't means 2 minutes. Its the name of chart. Just apply the EA and do what i stated, then go to menu, open offline, then open m2 chart.

It should be 15 pips box size, means Renkolivechart(15), Open Offline.

Best Regards,
PrinceWahaj
  • #149
  • Jan 16, 2014 4:29pm Jan 16, 2014 4:29pm
Quoting wahaj
{quote} Hello Hyperfire, First of all, as i stated to Alan_D, renko is not a time based chart. M2 doesn't means 2 minutes. Its the name of chart. Just apply the EA and do what i stated, then go to menu, open offline, then open m2 chart. It should be 15 pips box size, means Renkolivechart(15), Open Offline. Best Regards, PrinceWahaj
Hello again Wahaj,

Of course i've setting up all ! During asian session i think is not very good trade, what you think about that ?

Well i want share a video that give me a strenght to continue with trading, if you allow i put the link from youtube source here, no commercial purpose on that, just a tribute to alla trader !

Thank's again ! You are only one !
Don't be delicated, be vast and brilliant ! [Brent Smith]
  • #150
  • Jan 16, 2014 4:30pm Jan 16, 2014 4:30pm
Hello again. I thought I had my charts sorted, but after looking at Gemini Mans charts, I have very few printed candles. I have very good MT4 knowledge, but I am at a loss at to what is wrong.
  • #151
  • Jan 16, 2014 4:55pm Jan 16, 2014 4:55pm
FYI I did the following:
Opened 1 min EU
Placed EA on chart, set to 15 box size and Renko box size was already at 2
Opened offline EU M2 chart
Applied TPL
  • #152
  • Jan 16, 2014 5:03pm Jan 16, 2014 5:03pm
Quoting Alan_D
FYI I did the following: Opened 1 min EU Placed EA on chart, set to 15 box size and Renko box size was already at 2 Opened offline EU M2 chart Applied TPL
Hello Alan_D

Thank's
Don't be delicated, be vast and brilliant ! [Brent Smith]
  • #153
  • Jan 16, 2014 5:09pm Jan 16, 2014 5:09pm
Hi Hyperfire,
I think after further investigation Gemini Man may have his box size set at the default of 10. I did that and it matches his chart pretty close. I dont think this is correct, but his charts are pretty!
  • #154
  • Jan 17, 2014 1:49am Jan 17, 2014 1:49am
Quoting wahaj
{quote} Hello Hyperfire, First of all, as i stated to Alan_D, renko is not a time based chart. M2 doesn't means 2 minutes. Its the name of chart. Just apply the EA and do what i stated, then go to menu, open offline, then open m2 chart. It should be 15 pips box size, means Renkolivechart(15), Open Offline. Best Regards, PrinceWahaj

Hi Wahaj
I read about placing a fonts into a window folder to get the Renko running. Can you give me a hint where I find the Fonts?
Thanks wolfsch
  • #155
  • Jan 17, 2014 4:15am Jan 17, 2014 4:15am
Quoting Hyperfire
{quote} Hello again Wahaj, Of course i've setting up all ! During asian session i think is not very good trade, what you think about that ? Well i want share a video that give me a strenght to continue with trading, if you allow i put the link from youtube source here, no commercial purpose on that, just a tribute to alla trader ! Thank's again ! You are only one !
Hello Hyperfire,

Its your call that how do you want to use the system! The system is profitable and it has no restrictions on sessions trading. Asian session can be slow where the system can give you some false signals but all and all, everything is good until you do your own job.

Trade 5-6 pairs only. EU, AU, GU, UJ, GJ, EJ , These pairs are more than enough to increase the profits and to overcome the loss which can be done by trading one pair or two pairs. Use some indicators if you want to verify the signals, but so far, everything is alright!

Yes, you are allowed to post the link here because as you said that the video is for motivational purpose.

Best Regards and Best Wishes for you,
PrinceWahaj
  • #156
  • Jan 17, 2014 4:21am Jan 17, 2014 4:21am
Quoting Alan_D
Hello again. I thought I had my charts sorted, but after looking at Gemini Mans charts, I have very few printed candles. I have very good MT4 knowledge, but I am at a loss at to what is wrong.
Hello Alan_D,

Limited history is the problem.

Download the 1-minute history from FXDD and Install their MT4 platform to your computer, then Import all the history to your FXDD platform, I don't know if it is allowed to post links so that's why, i am unable to give you direct link.

You can test the method with different box size but the system is made for 15 pips box size, so i can't tell you anything about 10 pips box size, if you want help with 10 pips box size, then please ask Gemini Man, he is trading well.

Best Regards,
PrinceWahaj
  • #157
  • Jan 17, 2014 4:23am Jan 17, 2014 4:23am
Quoting wolfsch
{quote} Hi Wahaj I read about placing a fonts into a window folder to get the Renko running. Can you give me a hint where I find the Fonts? Thanks wolfsch
Hello wolfsch,

Welcome on the thread!

Its not required for this system because there are no texts on our chart. Just follow the steps explained in post#1 and everything will be alright.

Best Regards,
PrinceWahaj
  • #158
  • Jan 17, 2014 4:57am Jan 17, 2014 4:57am
Hello guy's !

Thank's Wahaj for let me post it here, here we go ! :
Inserted Video
hope enjoy these video !
About chart, i think to have a problem, i post screen here i have a window that tell me to do something, and other problem i've seen if i go in 1H or higher timeframe i don't see anything on RenkoAM indicator, it is normal ?

Thank's have nice day !
Attached Image (click to enlarge)
Click to Enlarge Name: Renko live chart.jpg Size: 156 KB
Don't be delicated, be vast and brilliant ! [Brent Smith]
  • #159
  • Jan 17, 2014 5:20am Jan 17, 2014 5:20am
Hi My Brother PrinceWahaj, I always following your thread with big interest and wish you success Insha Allah.

Quoting Hyperfire
Hello guy's ! Thank's Wahaj for let me post it here, here we go ! : http://www.youtube.com/watch?v=MwKYjZ_8EcE hope enjoy these video ! About chart, i think to have a problem, i post screen here i have a window that tell me to do something, and other problem i've seen if i go in 1H or higher timeframe i don't see anything on RenkoAM indicator, it is normal ? Thank's have nice day ! {image}
Hi My Friend Hyperfire,

you will get those window box msg, if you still untick confirm call dll function option

Please press Ctrl+O, and when option box show up just set related options as follows.

Attached Image


Hope it help and happy trading
  • #160
  • Edited 6:02am Jan 17, 2014 5:26am | Edited 6:02am
Dear Kiads,

Thank's so much i remove it immediatly !

Best regards !

EDIT 1 : now i don't see the buy/sell order line, i've check show trade level's and it is enable, and color must different from chart, i don't see stop loss and take profit line too, anyone know the solution ?

EDIT 2 : problem from edit 1 solved missing some file on mt4, reinstall the m4 solved my problem.
Don't be delicated, be vast and brilliant ! [Brent Smith]
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