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MT4-Indicator: Adjustable Shift Renko Chart Builder Indicator

  • #341
  • Feb 17, 2014 4:02pm Feb 17, 2014 4:02pm
Quoting Duggerss
I don't speak English sorry
At least you should know what means "please" and "thank you" ... Don't you ?
MT4/MT5 EAs/Indicators/Alerts coder
  • #342
  • Feb 17, 2014 5:13pm Feb 17, 2014 5:13pm
We have to be thankful for the input of these coder/programmers in the forum. We should treat them with respect as they have been giving freely of their efforts for many years.

We should be respectful as a matter of course in our lives.

If there was no sharing of expertise, most of us would not be trading forex as we would have no clue as to how to proceed.

There are people who want to contribute to the community and they do it consistently, without them there would be no Forex Factory which has become one of the main reference sources on the web.
  • #343
  • Feb 17, 2014 5:48pm Feb 17, 2014 5:48pm
This thread and the ARTS thread offer huge new dimensions to traders.

While I have not used all of the tools yet, I sure appreciate the efforts that have gone into the tools and also the updates.

As we use the tools and the indicators, we have to keep in mind that we can not trade using indicators alone, we have to observe price action and use the indicators as a confirmation..., sometimes we tend to become indicator dependent and that can be costly. Indicators are derived from Price Action and are not always reflective as to when we should be entering or exiting a trade. Price Action is the basic indicator that we should be observing.

Support and resistance are paramount with Renko as is the slope of the trend.. There is no need to rush into a trade at a reversal, we can wait for the trend to be established and enter on retraces. Trying to catch a top or bottom will prove to be costly in the long term.

Drawing horizontal trend lines is a great way to learn where the good entries may be, much better than using the color changes in the bars.

The only reason I mention this is that I see a trader has not had success and is wondering about the indicators.

Super trading to all.!!
  • #344
  • Feb 17, 2014 8:42pm Feb 17, 2014 8:42pm
Quoting FerruFx
{quote} At least you should know what means "please" and "thank you" ... Don't you ?
yes
  • #345
  • Feb 17, 2014 9:22pm Feb 17, 2014 9:22pm
Quoting Duggerss
{quote} yes
... so in your next request, use these words and you will certainely have more attention ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #346
  • Feb 28, 2014 5:21pm Feb 28, 2014 5:21pm
Quoting Kiads
{quote} Thank You, My Friend Zoog, I wish you success with your PA trading with shifted renko. Just little suggestion if your PA system is looking for S/R area or turning point. did you ever try to create shifted renko chart from H1 or H4 source charts ? Use small size renko box like 4 point and shift 25%.(1 point step angular renko type) this will create real 'zig-zag' shape with general direction of PA. also for more easier to check the price movement, maybe better if you look for maximal negative correlation pairs like EURUSD and USDCHF for comparison,...
In post 204 the above suggestion was made. This indeed produces some very clear indications of overall PA direction, especially with the addition of BBMACD.
Clearly the larger the "Source TimeFrame" the more generalised the renko bars. Does anyone have any insights into using larger source time-frames and advice for pitfalls to avoid ? I can't help feeling that it looks a little too good.

I'd like to add my thanks to Kiads and all contributors for such a content rich and positive thread.
  • #347
  • Mar 1, 2014 8:46am Mar 1, 2014 8:46am
Quoting FerruFx
{quote} You're more than welcome ... Thank you for your support. Very much appreciated Keep up the great work. I will follow this thread with great interest.
HI FERRUS,CAN U SHOW ME HOW TO INSTALL RENKO SYSTEM ON MY MT4-604,STEP BY STEP,Im HAVING PROBLEM IN MAKE IT WORK,THANK U FOR LISTEN THIS NEWBEE TRADER...
  • #348
  • Mar 1, 2014 12:04pm Mar 1, 2014 12:04pm
brandy711--
Did you even bother to read post 307 ???
and turn your CapsLock off.
  • #349
  • Mar 1, 2014 6:33pm Mar 1, 2014 6:33pm
Quoting michaelB
brandy711-- Did you even bother to read post 307 ??? and turn your CapsLock off.
thank you for your kind words,
  • #350
  • Mar 1, 2014 10:55pm Mar 1, 2014 10:55pm
Hi,
Myself is Dharmesh Ghael and I am trading in Forex , Commodity and Indian Equity market.
I am writing first time in this forum, as I like this forum very helpful and the work done by the creator of this trading indicator
"Adjustable Shift Renko Chart Builder" Awesome, fantastic and genius.
I have studied his work deeply and found this indicator like Holy Grail.
Off course I am trading Renko Chart from long time , I have found this modification by creator is very very useful not only to find exact reversal of trend but also giving trend direction to follow.
At present I am attaching four charts for your all guys’ reference, I will write in detail later on.

But, I want to request creator of this indicator to add one Input and that is to change the colour of candle. It will be highly useful if you add Input colour change option.
Thanks
Dharmesh Ghael
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy_m2.png Size: 51 KB
Click to Enlarge Name: clj4m2.png Size: 60 KB
Click to Enlarge Name: eurusd_m2.png Size: 55 KB
Click to Enlarge Name: xauusdm2.png Size: 68 KB
  • #351
  • Mar 2, 2014 5:47am Mar 2, 2014 5:47am
Quoting dhghael
Hi, Myself is Dharmesh Ghael and I am trading in Forex , Commodity and Indian Equity market. I am writing first time in this forum, as I like this forum very helpful and the work done by the creator of this trading indicator "Adjustable Shift Renko Chart Builder" Awesome, fantastic and genius. I have studied his work deeply and found this indicator like Holy Grail. Off course I am trading Renko Chart from long time , I have found this modification by creator is very very useful not only to find exact reversal of trend but also giving trend direction...
Hi My Friend Dharmesh Ghael,

I believe you understand well since you are renko user for long time, that this indicator is an offline chart builder indicator, and not histogram indicator, so 'she' has nothing to do with coloring candle or brick in this renko environment, so if you want to 'change' the color of our renko brick, you can set the brick color from your offline chart property just like standard candlestick chart. But, if you want to 'coloring' your renko brick 'according' to some calculation formulas, then you should add candle/brick histogram indicator to your offline renko chart, just like Heiken Ashi Indicator, or MA histogram Indicator, etc.

BTW, you can also visit my other thread about the implementation of this kind of renko chart that already 'adjusted' to become compatible with the new MT4 platform update and also there is more option with my new accel shift renko chart builder indicator there.. here is the link: http://www.forexfactory.com/showthread.php?t=470219

Feel free to post your ideas and suggestion there.., and we can discuss it further..

Thank You for your support and contribution,
As always Happy Trading Guys...
MTH
  • #352
  • Mar 2, 2014 1:20pm Mar 2, 2014 1:20pm
Looks good. Thanks 4 your hard work to help us.

Downloaded and testing .
  • #353
  • Mar 4, 2014 1:51pm Mar 4, 2014 1:51pm
Kiads,

I know this is a ridiculous and stupid question, but I do not know where exactly to put the temporary folder outside of drive C to try to make the Geo Renko charts work. I use the Windows 7 and have MT4 build 604 and have very little tech ability as you are now obviously aware.

Where exactly do you mean to place these underlined MT4 program and indicator folders ?

1. Download Renko chart builder to your temporary folder outside drive C
2. make sure your MT4 program folder is outside of your Windows/ program files

thanks so much for all of your generous help and assistance and I very much apologize in advance for my elderly brain ignorance.
traderdp
  • #354
  • Mar 14, 2014 10:04am Mar 14, 2014 10:04am
Quoting Zokynho
{quote} Yes Kiads....it is easy to see almost every move when you looking at those great shifted renko charts.... I also have tma on chart but slower one... here is look of my charts but still not finished tpl Regards! {image}


Hi I just saw this picture. If possible I would like you to tell me, or better put indicators and the template of how this image. Thank you very much and a hug.

Sorry for my English.

Attached Image
  • #355
  • May 11, 2014 7:34am May 11, 2014 7:34am
Hello does enybody have mq4 version of shifted renko ....????Thanks because ex4 cant install on mt4
  • #356
  • May 11, 2014 3:14pm May 11, 2014 3:14pm
Quoting Audrius
because ex4 cant install on mt4
If you cannot install the .ex4 you do not need the mq4 because it won't work also ...

Make sure you install/copy the indicator to the right folder, if you do not know the (new) mt4 folder structure, pls. read http://www.forexfactory.com/showthread.php?p=7448823#post7448823 ...
PM me with coding requests and I'll probably put you on my ignore list
  • #357
  • May 11, 2014 4:26pm May 11, 2014 4:26pm
I did in right way but seems something wrong and i dont know .I copied file into MQL4\INDICATORS and cant open with editor ,maybe problem in that
  • #358
  • May 11, 2014 4:31pm May 11, 2014 4:31pm
you cannot edit .ex4 files. if you want to open the file in the editor you need the .mq4 file.
PM me with coding requests and I'll probably put you on my ignore list
  • #359
  • May 11, 2014 5:18pm May 11, 2014 5:18pm
So where is the problem ...??? other renko charts working without problems
  • #360
  • Jul 2, 2014 7:19am Jul 2, 2014 7:19am
I feel like everybody is understanding this but me??? Why am I not getting this? It seems like it is a very profitable way to be trading.

Thanks,

Dan
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