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  • #421
  • Quote
  • Dec 5, 2014 8:26am Dec 5, 2014 8:26am
Quoting ken911
{quote} Can I ask what Timeframe you are using with the 10 brick size?
M1 on source chart. Offline chart is not dependant on time.
  • #422
  • Quote
  • Dec 5, 2014 8:31am Dec 5, 2014 8:31am
Quoting Akh12851
@ken911 : What is the difference between 10 pips on m1 and 10 pips on m5 ? Answer : none. Why : because 10 pips is a change in price, m1 and m5 define a change in time... The whole purpose of renko chart is to look at price movements only, without consideration for time. So it doesn't matter which tf you llok at, a 10 pips / brick renko chart will be the same
I dont remember saying there was a difference between 10 pips on M1 or M5. I am quite aware that Renko is price and not time. I was asking for my own reasons, and now have an answer from the person to whom my question was directed! Thankyou Re-L
  • #423
  • Quote
  • Dec 5, 2014 2:23pm Dec 5, 2014 2:23pm
Quoting jmss59
another {image}
jmss, what are your yellow line settings? The break of it looks pretty consistent.

Does it work in higher TF? I prefer to trade 1H, 4H, 1D.

Is your chart containing renko, or is pure HA?

Many thanks
  • #424
  • Quote
  • Dec 8, 2014 5:15am Dec 8, 2014 5:15am
Can somebody modify RenkoColorChangeAlarm to ring only after second green(or red) HA candle is closed. This is practically where our entry is as Jaquemate explained (where we can draw our line). Then we can decide if we are going to enter or not. Right now is ringing all the time for any color change and does have no sense.
  • #425
  • Quote
  • Dec 8, 2014 10:30am Dec 8, 2014 10:30am
EU +12 +2 +12 +2 +20 +LSWH @B/E +2. 3 "with trend" trades that went nowhere, 2 CT that got pips and 1 currently ongoing @ B/E +2.
Attached Image (click to enlarge)
Click to Enlarge Name: EU +12 +2 +12 +2 +20 +LSWH 81214.png Size: 60 KB
Cut your Losers short and let your Winners run.
  • #426
  • Quote
  • Dec 8, 2014 11:23am Dec 8, 2014 11:23am
Final Tally. EU +12+2+12+2+20+2+2+10+15. What a ridiculous number of trades, but not a single loser. The B/E +2 covers Commissions & Fees. Today I tried to trade "With the Trend" but the money was in the other direction. 3 With trend trades = 16 pips. 6 counter trend = 61 pips.

The obligatory warning "Trading counter trend can make you go blind"
Attached Image (click to enlarge)
Click to Enlarge Name: EU +12 +2 +12 +2 +20 +2 +2 +10 +15 81214.png Size: 59 KB
Cut your Losers short and let your Winners run.
  • #427
  • Quote
  • Dec 8, 2014 11:24am Dec 8, 2014 11:24am
Quoting dee50
EU +12 +2 +12 +2 +20 +LSWH @B/E +2. 3 "with trend" trades that went nowhere, 2 CT that got pips and 1 currently ongoing @ B/E +2. {image}
Hi Dee

Thanks for sharing you trades.I try follow you along to see how you go about it.Just testing an idea or two with it.

One question if you dont mind..... Why are there no trades before the green vertical line or in the yellow box that I marked?
Do you start trading later?

Thanks for you time and sharing what you do.

Rooi
Attached Image (click to enlarge)
Click to Enlarge Name: Dee.png Size: 52 KB
We miss 100% of the shots we don't take
  • #428
  • Quote
  • Dec 8, 2014 12:01pm Dec 8, 2014 12:01pm
Quoting Rooi
{quote} Hi Dee Thanks for sharing you trades.I try follow you along to see how you go about it.Just testing an idea or two with it. One question if you dont mind..... Why are there no trades before the green vertical line or in the yellow box that I marked? Do you start trading later? Thanks for you time and sharing what you do. Rooi {image}
I trade 9am to 5pm GMT +1. Broker time is GMT +2 hence the vertical line @10am. The yellow box was Friday and I only traded the NFP news release, I did not post those trades because they were not relevant to this thread.
Cut your Losers short and let your Winners run.
  • #429
  • Quote
  • Edited Dec 9, 2014 7:54am Dec 8, 2014 2:16pm | Edited Dec 9, 2014 7:54am
Quoting dee50
Final Tally. EU +12+2+12+2+20+2+2+10+15. What a ridiculous number of trades, but not a single loser. The B/E +2 covers Commissions & Fees. Today I tried to trade "With the Trend" but the money was in the other direction. 3 With trend trades = 16 pips. 6 counter trend = 61 pips. The obligatory warning "Trading counter trend can make you go blind" {image}
Sorry dee for these newbie questions.

1) What do you use to determine trend? Simply higher high/ higher low and vice versa or something else as well.

2) What is your entry criteria. Is it the same as Jaquamate ie. breaking of trend lines? I know based on the PDF you posted that you will take the beginning of a new wave but what about counter trend trades?

3) Is your renko 3pip and is it M1? It says M3 in the top of your chart, is that a 3min chart or it indicates something else? A few pages ago it was M2? So I'm a bit confused

4) What is your exit criteria. How do you manage your trade?

5) Lastly your stoch is (8,3,3). Is it a nomal stoch or smoothed?
  • #430
  • Quote
  • Dec 8, 2014 4:35pm Dec 8, 2014 4:35pm
Quoting dee50
Final Tally. EU +12+2+12+2+20+2+2+10+15. What a ridiculous number of trades, but not a single loser. The B/E +2 covers Commissions & Fees. Today I tried to trade "With the Trend" but the money was in the other direction. 3 With trend trades = 16 pips. 6 counter trend = 61 pips. The obligatory warning "Trading counter trend can make you go blind" {image}
I was to ask same thing about your entry/exit criteria. I see your trades are almost on every color change, not respecting bigger TF trends. But also very important to know how do you determine your exits because I can see many of them are right before color change.

Best regards
  • #431
  • Quote
  • Edited 2:13am Dec 9, 2014 2:00am | Edited 2:13am
Quoting BatmanXXL
Can somebody modify RenkoColorChangeAlarm to ring only after second green(or red) HA candle is closed. This is practically where our entry is as Jaquemate explained (where we can draw our line). Then we can decide if we are going to enter or not. Right now is ringing all the time for any color change and does have no sense.
Agree... very much appreciated! Alert at the Close of the first candle after colour changed would be fine too.
  • #432
  • Quote
  • Dec 9, 2014 2:20am Dec 9, 2014 2:20am
Quoting dee50
{quote} I trade 9am to 5pm GMT +1. Broker time is GMT +2 hence the vertical line @10am. The yellow box was Friday and I only traded the NFP news release, I did not post those trades because they were not relevant to this thread.
Thank you for the answer

Rooi
We miss 100% of the shots we don't take
  • #433
  • Quote
  • Dec 9, 2014 9:49am Dec 9, 2014 9:49am
Quoting BatmanXXL
Can somebody modify RenkoColorChangeAlarm to ring only after second green(or red) HA candle is closed. This is practically where our entry is as Jaquemate explained (where we can draw our line). Then we can decide if we are going to enter or not. Right now is ringing all the time for any color change and does have no sense.
You really need to ask the question on "Platform Tech" thread, the coders tend to hang out there. Or find the author and ask him directly. Or look on KIADS thread and see if anyone has already done this.
Cut your Losers short and let your Winners run.
  • #434
  • Quote
  • Dec 9, 2014 9:54am Dec 9, 2014 9:54am
Hello,

Does anyone here trade using FXCM Trading Station?

Ive managed to get renko charts on it and I can add the heikin ashi indicator but it is simply the same as the renko candle elongated slightly.
It looks nothing like jaquamate or dee50's charts.


An alternative is to use a demo MT4 platform but would prefer to just use one platform. If anyone knows please let me know

Help appreciated

Regards
amfx
  • #435
  • Quote
  • Dec 9, 2014 10:44am Dec 9, 2014 10:44am
Quoting amfx
{quote} Sorry dee for these newbie questions. 1) What do you use to determine trend? Simply higher high/ higher low and vice versa or something else as well. 2) What is your entry criteria. Is it the same as Jaquamate ie. breaking of trend lines? I know based on the PDF you posted that you will take the beginning of a new wave but what about counter trend trades? 3) Is your renko 3pip and is it M1? It says M3 in the top of your chart, is that a 3min chart or it indicates something else? A few pages ago it was M2? So I'm a bit confused 4) What is...
1. This is a difficult one for me to answer because my beliefs about "The Trend is your Friend" differs from the main stream. Jaquemate uses the Daily and 1hr chart to determine trend just like every one else. I do not. For the less experienced trader I would suggest that you stick with his method. I use Price Action on the TF I am trading to determine the Trend, this requires experience of PA and Price Patterns, in other words I identify turning points which signal the start of a New Trend.

2. My entry method is the same as Jaquemate, more or less, he uses a trend line break, I use a close above/below the 5EMA.

3. 3 pip Renko. All my Renko charts are based off a 1min chart. the M2, M3 etc are irrelevant, they are just Offline Chart identifiers and have no relation to time or to the value of the Renko bricks on them.

4. I am experimenting with different settings just like you, I am new to Renko charts as well. On my Monday chart I was using multiples of the bricks eg 4 x 3 = 12pips later I resorted back to my usual method and targeted the S&R level which yielded 20 pips. last week I was exiting on the first red candle (long) or green candle (short) before that I was trailing the SL. Today I used Market Harmonics CD = AB to set my TPs. But the one constant is that I am moving my SL to B/E +2 after 5 pips, that is why there were so many trades yesterday, but no losses.

5. Standard Stochastics.

Hope it helps
Cut your Losers short and let your Winners run.
  • #436
  • Quote
  • Dec 9, 2014 10:46am Dec 9, 2014 10:46am
Quoting cfabian
{quote} I was to ask same thing about your entry/exit criteria. I see your trades are almost on every color change, not respecting bigger TF trends. But also very important to know how do you determine your exits because I can see many of them are right before color change. Best regards
I have answered this here. http://www.forexfactory.com/showthre...77#post7931377
Cut your Losers short and let your Winners run.
  • #437
  • Quote
  • Dec 9, 2014 10:54am Dec 9, 2014 10:54am
EU +2 +40 +80. Larger TF 123 to determine Targets, Looked for entry on the 3 pip chart first try got stopped for +2, second try went the distance. The 123 reversal pattern is also known as the ABCD pattern, the theory is that the CD leg is often equal to the AB leg, I have traded it for years on the 1hr and 15min charts, now I am using a 10pip Brick for monitoring and a 3 pip brick for entries. believe me the pattern works and has been used by traders long before many of you were just a twinkle in some ones eye.
Attached Image (click to enlarge)
Click to Enlarge Name: EU +2 +40 +80 91214.png Size: 53 KB
Cut your Losers short and let your Winners run.
  • #438
  • Quote
  • Dec 9, 2014 11:31am Dec 9, 2014 11:31am
Quoting dee50
{quote} I have answered this here. http://www.forexfactory.com/showthre...77#post7931377
Thanks dee50

Much appreciated
  • #439
  • Quote
  • Edited 11:56am Dec 9, 2014 11:44am | Edited 11:56am
Hello,

I'm sorry for this question as I havent used MT4 much. I use Trading Station. However, I cant manage to get these templates on Trading Station so am thinking of trying MT4.

I wanted to ask regarding MT4 offline charts. Ive seen it mentioned in this thread a few times. My question is can you do live-trading on offline charts? I thought it was merely used for backtesting strategies.

And secondly what is the benefit of an offline chart if not for strategy testing and when would you use it.

Again sorry for the newbie question and please excuse my ignorance
  • #440
  • Quote
  • Dec 9, 2014 12:33pm Dec 9, 2014 12:33pm
Quoting amfx
Hello, I'm sorry for this question as I havent used MT4 much. I use Trading Station. However, I cant manage to get these templates on Trading Station so am thinking of trying MT4. I wanted to ask regarding MT4 offline charts. Ive seen it mentioned in this thread a few times. My question is can you do live-trading on offline charts? I thought it was merely used for backtesting strategies. And secondly what is the benefit of an offline chart if not for strategy testing and when would you use it. Again sorry for the newbie question and please excuse...
You seem to be getting yourself in a bit of a mess. Offline charts are MT4s way of dealing with non standard securities and Time Frames. Tick Charts, Renko charts, Range Bar charts Volume Bar charts etc are all formed on offline charts. Other Platforms do not have to do this, it all depends on how they are programmed.

You place trades on an offline chart in exactly the same way as any other chart, your orders are handled by another programme and are handled independently of the chart you are using. If you had no charts open you could still open and close orders.

Do FXCM not have a forum for their Trading Station, is that Market Scope?, where you could get some advice about template integration, have you tried Jason on FXCMs thread here on FF, he appears to be quite helpful.
Cut your Losers short and let your Winners run.
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