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Renko Power System

  • #181
  • Jan 21, 2014 8:30am Jan 21, 2014 8:30am
yes . friend this is not modified indicator or coded indicator.. this is free indicator in mt4 area.. do like this way ..
pls follow the image plan.. after u get one rsi setup , then drag second rsi setup on to the first setup,, not the chart area .. then u can see both are in one indicator..that is way i also created ... hope u will understand .....
Attached Image (click to enlarge)
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Attached Images
  • #182
  • Jan 21, 2014 8:51am Jan 21, 2014 8:51am
Hello again,

Well i know how to setup the problem was the file of indicator i think is damage or something because if i load from on any chart mt4 crash to desktop, i'm gonna to download the file or reinstall mt4 again maybe should be fixed the problem.
however thank's for the instruction.

Thank's best regards and always take care !
Don't be delicated, be vast and brilliant ! [Brent Smith]
  • #183
  • Jan 21, 2014 9:01am Jan 21, 2014 9:01am
Quoting awaisfx
guys please help me why renko doesnt work on my side {image}
Hi My Friend Awaisfx, as mention in your error notification in your screenshot,
your RenkoLiveChart v3.2 is not custom indicator, actually this is renko chart builder with EA type, not Indicator type, so you place it in wrong folder, you should move it to your MT4/Expert folder from your MT4/Expert/Indicator folder, and run it as EA not as Indicator..

Hope it help and best regard.
  • #184
  • Jan 21, 2014 12:16pm Jan 21, 2014 12:16pm
Check this out ,
stoch <50 and cci <0 and candle red and below sar then sell
stoch =0 then exit
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  • #185
  • Jan 21, 2014 12:58pm Jan 21, 2014 12:58pm
Quoting Hyperfire
Dear Wahaj, The best way for use this system is the scalper or we have or open order and hope that follow a trend line ? I would read your opinion and from other other user too ! What do you think about that ? Thank's, take care !
Hello Hyperfire,

That is your choice. The system can make plenty of pips in short time if you want to use scalp method with several pairs.

My all time favorite is Scalping Strategy, but i will not not advise anyone to do scalping here until a trader have as much knowledge as possible. Demo the strategy and just find what best suits for you!

Best Regards,
PrinceWahaj
  • #186
  • Jan 21, 2014 1:03pm Jan 21, 2014 1:03pm
Quoting us fantasy
hi wahaj i was working renko since little long time.. so i also find which is best indicator to identify trade entries ....mean while i was read lot of renko threads in forex factory... but seems to be your trading plan is pretty nice and working fine ... as well as i like to inform another nice indicator for u... that is also help to us to find over brought and over sold area, then we can enter easy to the trade ... indicator is RSI setting periods are 5, 15 both are ""apply closed" mode... as well as i like to say this will help to enhance our...
Hey us fantasy,

Thanks for taking your time to post your opinion here. I appreciate it.

RSI indicator can filter the signals, i have not tried RSI in renko charting mode but on TF based charts, RSI is my all time favorite. Actually RSI is an indicator with which i began to start trading.

BTW, I will check it once i get some free time.

Best Regards,
PrinceWahaj
  • #187
  • Jan 21, 2014 6:54pm Jan 21, 2014 6:54pm
For almost all day that trade was a big loss but because market always surprise us... now starting show green pips

Attached Image (click to enlarge)
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I also took before a few minutes another trade... ( I suppose a little late).

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  • #188
  • Jan 22, 2014 2:28am Jan 22, 2014 2:28am
Nice thread and system Prince wahaj but for some odd reason can not get the 2m chart. i still have 1 m going and no renko bars either
  • #189
  • Jan 22, 2014 3:46am Jan 22, 2014 3:46am
Hello,

I don't know why but i can't trade with this, all trade i made was a loss, i think i wrong something or that not are suitable for me.
Let's see what coming next !

Take care, and have nice day !
Don't be delicated, be vast and brilliant ! [Brent Smith]
  • #190
  • Jan 22, 2014 4:59am Jan 22, 2014 4:59am
Quoting panosmgr
For almost all day that trade was a big loss but because market always surprise us... now starting show green pips {image} I also took before a few minutes another trade... ( I suppose a little late). {image}
Hello panos,

Most of the time, market will go against you by 30-45 pips, but then, eventually you will be with the trend because of your trade.

Just do some visual back-testing then you will have the evidence of what i am saying, and that is why, we must set wide stop-loss to give the market a room to breathe.

Good Work and Always be patient! Its always good to cut the losses short and let the winners run! BUT ONLY WHEN YOU ARE SURE 80% THAT MARKET WILL NOT DO ANYTHING AGAINST YOU.

Best Regards and Wish you success,
PrinceWahaj
  • #191
  • Jan 22, 2014 5:05am Jan 22, 2014 5:05am
Quoting stormtrader
Nice thread and system Prince wahaj but for some odd reason can not get the 2m chart. i still have 1 m going and no renko bars either
Hello stormtrader,

Check the journal tab in your MT4 and consider which errors you are getting!

Remember that, RenkoLiveChart 3.2 is an EA and must be placed to Expert Advisor folder.

To make the Renko Offline Chart:

Open pair's 1m chart, attach the Renkolivechart v3.2, check the properties of expert and mark the following things:
-Enable Alerts
-Allow live trading
-Allow DLL imports
-Allow import of external experts

Now, check the input settings.

RenkoBoxSize = 15
RenkoOffset = 0
RenkoTimeFrame = 2

It is required the market to be running for the expert to plot the M2 chart, if you would try it on weekend, it will not work.

BR,
PrinceWahaj
  • #192
  • Jan 22, 2014 5:07am Jan 22, 2014 5:07am
Quoting Hyperfire
Hello, I don't know why but i can't trade with this, all trade i made was a loss, i think i wrong something or that not are suitable for me. Let's see what coming next ! Take care, and have nice day !
Hello Hyperfire,

Just try to figure out what you did wrong in your trades!

Also let me know which trades you took and from which pair. Hope that i could assist you!

Best Regards,
PrinceWahaj
  • #193
  • Jan 22, 2014 5:15am Jan 22, 2014 5:15am
Here are my results of the last 2 trades.

Attached Image (click to enlarge)
Click to Enlarge Name: 1.PNG Size: 17 KB


Quoting panosmgr
For almost all day that trade was a big loss but because market always surprise us... now starting show green pips {image} I also took before a few minutes another trade... ( I suppose a little late). {image}
  • #194
  • Jan 22, 2014 5:31am Jan 22, 2014 5:31am
Quoting panosmgr
Here are my results of the last 2 trades. {image} {quote}
Fantastic
  • #195
  • Jan 22, 2014 8:56am Jan 22, 2014 8:56am
Wahaj, whipsaws are always an issues with these techniques....feels like "sooner or later they are going to get you"

Please look at the AUDUSD chart above, left side of the chart....how do you deal with these?
  • #196
  • Jan 22, 2014 1:48pm Jan 22, 2014 1:48pm
Quoting wahaj
{quote} Hello Hyperfire, Just try to figure out what you did wrong in your trades! Also let me know which trades you took and from which pair. Hope that i could assist you! Best Regards, PrinceWahaj
Hello Wahaj,

pairs : EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD.

Thank's
Don't be delicated, be vast and brilliant ! [Brent Smith]
  • #197
  • Jan 22, 2014 3:20pm Jan 22, 2014 3:20pm
Quoting driven18
Wahaj, whipsaws are always an issues with these techniques....feels like "sooner or later they are going to get you" Please look at the AUDUSD chart above, left side of the chart....how do you deal with these?
Hello driven18,

Proper Money Management will take care of it.

Yes, I realize that Exit strategy is not so good as it is always the hardest part of the system, and for this reason, we must use our own techniques, you will notice that in whipsaws, you will not lose more than 40-45 pips per trade but you will also notice that most of the trade worth 50-70 green pips.

I have an idea to avoid these whipsaws but for some reason, can't disclose in public place and that's a secret which worth million dollars.

Trading with sevaral pairs (trending pairs) will give you more good results. Just suppose that with EJ, you got -50 pips, but at the same time, you had an order with AU and you gained +70 on AU, then the total pips will be +20.

The key is to cut the losses short and let the winners run WITH DISCIPLINE.

Hope that helps you.

Best Regards and Wishing you the best,
PrinceWahaj
  • #198
  • Jan 22, 2014 3:25pm Jan 22, 2014 3:25pm
Quoting Hyperfire
{quote} Hello Wahaj, pairs : EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD. Thank's
Hello Hyperfire,

Please post the screenshot of which trades you took, Edit it with paint and let me know, i will be happy to assist you.

FYI, You should use this system for these pairs only: EU, GU, UJ, AU, EJ, GJ

If you want to speed up the process, then add EURAUD and GBPAUD in your trading list, but NOT RECOMMENDED FOR NEWBIES, and normally, the spread are too big on these pairs which can become the killer for R.P.S.


Remember that, the more lower the spread is, the more higher chances of winning you will have. Try with ECN Brokers demo account also. Don't try with bucketshops or market maker.

USDCHF AND USDCAD were not included in the recommended list.

Best Regards,
PrinceWahaj
  • #199
  • Jan 23, 2014 5:32am Jan 23, 2014 5:32am
Hello Traders,

As we know that, we all dream the one thing in different styles that we will become millionaire soon by Forex Trading, but very few traders are successful in achieving this goal.

You know, Why? Why Only Few???

Because, they have patience, discipline, mm plan and of-course trust on their systems.

The famous line, from which, we all should learn that, "You must trust your system if you want to become successful".

Now, Ask yourself! Do you want to become millionaire?
Now, Just figure out, which qualities you must have?
Now, Ask yourself! Do you trust your system?

If yes, then prepare a MM plan. You should not care if it will take 5-6 years to reach, because after all years, you wouldn't need to do anything rather than just enjoying your money.

So......I am presenting a MM plan to all which makes possible for all of us to make $4,096,000.

THE MILLIONAIRE PLAN

Initial Deposit: $250

Target per month: 30%

Withdrawal Every Month for Personal Use: 5% (Optional)

Compounding Cycle: Increase the lot size by 10% after every 10% gain.

Return per 3 Months: upto 100% BY COMPOUNDING.

Plan Duration: 3.5 years

Per Stage: 3 Months

Number of Stages: 14

On every stage, you must complete 100%


EQUITIES IN SEQUENCE OF STAGES


Stage 1: $500

Stage 2: $1,000

Stage 3: $2,000

Stage 4: $4,000

Stage 5: $8,000

Stage 6: $16,000

Stage 7: $32,000

Stage 8: $64,000

Stage 9: $128,000

Stage 10: $256,000

Stage 11: $512,000

Stage 12: $1,024,000

Stage 13: $2,048,000

Stage 14: $4,096,000


ENJOY



Best Regards and Wishing all of you the best,
PrinceWahaj



  • #200
  • Jan 23, 2014 6:26am Jan 23, 2014 6:26am
Quoting wahaj
..... they have patience, discipline, mm plan and of-course trust on their systems...
Agree 100%!!

I'm with you PrinceWahaj, I'll wait the "next move"...

Regards
P.S.: Maybe I was missing some good trades the last 2 days but I wasn't comfortable with charts so... no open trades for me.
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