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As simple as possible: RENKO M5 trading

  • #21
  • Dec 23, 2014 2:16am Dec 23, 2014 2:16am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting orangutangas
{quote} Brick size to me is working well and new one is created after 5 pips move as i wanted even on M5 chart
You didn't understood my point. Yes your chart is fine with your brick size. No problem with this.

My point is that chosing a standard TF (M5) for your offline chart, you are overriding the original M5 datas sent by your broker.
MT4/MT5 EAs/Indicators/Alerts coder
  • #22
  • Dec 23, 2014 2:36am Dec 23, 2014 2:36am
Chart is set to M5 but it shows D1... What's wrong?
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  • #23
  • Dec 23, 2014 3:51am Dec 23, 2014 3:51am
Quoting FerruFx
{quote} You didn't understood my point. Yes your chart is fine with your brick size. No problem with this. My point is that chosing a standard TF (M5) for your offline chart, you are overriding the original M5 datas sent by your broker.
I know that, but i do not need to see what are actual candles doing, only bricks here
  • #24
  • Dec 23, 2014 3:53am Dec 23, 2014 3:53am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting orangutangas
{quote} I know that, but i do not need to see what are actual candles doing, only bricks here
It's your choice ... But if you need to look at a M5 chart, you won't have M5 candles datas.

That's important to understand especially for those who are following the thread.

Don't get me wrong. I am not criticizing the way you are trading.
MT4/MT5 EAs/Indicators/Alerts coder
  • #25
  • Dec 23, 2014 3:55am Dec 23, 2014 3:55am
Quoting sEit89
Chart is set to M5 but it shows D1... What's wrong? {image}
What do you mean it shows D1? It shows 5 pips movements
  • #26
  • Dec 23, 2014 3:55am Dec 23, 2014 3:55am
Quoting FerruFx
{quote} It's your choice ... But if you need to look at a M5 chart, you won't have M5 candles datas.
Yes, indeed
  • #27
  • Dec 23, 2014 5:23am Dec 23, 2014 5:23am
GU into TP
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  • #28
  • Dec 23, 2014 5:39am Dec 23, 2014 5:39am
Interesting variation of the 00level strategy

Good luck!

p.s you can drag and drop your trade from the account history on your chart.
  • #29
  • Dec 23, 2014 5:44am Dec 23, 2014 5:44am
Quoting piphunt3r
Interesting variation of the 00level strategy Good luck! p.s you can drag and drop your trade from the account history on your chart.
That one?
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  • #30
  • Dec 23, 2014 5:52am Dec 23, 2014 5:52am
Quoting orangutangas
{quote} That one? {image}
Yes

Now click on the trade and drop it on the chart.
  • #31
  • Dec 23, 2014 6:19am Dec 23, 2014 6:19am
Trade #1 with this system hit SL. Anything wrong?
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  • #32
  • Dec 23, 2014 6:29am Dec 23, 2014 6:29am
Quoting sEit89
Trade #1 with this system hit SL. Anything wrong? {image}
Yes 2 main things:
1. Spread is too high
2. You entered at support level of RENKO brick
  • #33
  • Dec 23, 2014 7:45am Dec 23, 2014 7:45am
As well as basic stuff like lower highs and lowers lows.
  • #34
  • Dec 23, 2014 1:00pm Dec 23, 2014 1:00pm
OK guys, i am out today. Will be back after Xmas, on Monday. Happy holidays to everyone!
  • #35
  • Dec 28, 2014 12:18pm Dec 28, 2014 12:18pm
ok i will give it a try, why the hell not! comming back after new year with some results, see you guyz then cheers!
  • #36
  • Dec 28, 2014 1:20pm Dec 28, 2014 1:20pm
Quoting FerruFx
{quote} You didn't understood my point. Yes your chart is fine with your brick size. No problem with this. My point is that chosing a standard TF (M5) for your offline chart, you are overriding the original M5 datas sent by your broker.
how do you open an offline chart for a non standard TF? I only see standard time frames in the "open offline chart" window....

regards, tommsen
  • #37
  • Dec 28, 2014 5:49pm Dec 28, 2014 5:49pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting tommsen
{quote} how do you open an offline chart for a non standard TF? I only see standard time frames in the "open offline chart" window.... regards, tommsen
The non standard timeframe must be created first with an EA/script applied on a live M1 chart. This M1 chart have to update continuously the offline datas.
MT4/MT5 EAs/Indicators/Alerts coder
  • #38
  • Dec 29, 2014 12:04am Dec 29, 2014 12:04am
Quoting Cristianp92
ok i will give it a try, why the hell not! comming back after new year with some results, see you guyz then cheers!
will be waiting your results
  • #39
  • Dec 29, 2014 2:41am Dec 29, 2014 2:41am
Hasn't been online but saw just missed Eur/Aud opportunity.
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  • #40
  • Dec 29, 2014 9:32am Dec 29, 2014 9:32am
EA to TP
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