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  • #981
  • Feb 13, 2015 9:31am Feb 13, 2015 9:31am
Quoting blueseahorse
{quote} hi cfabian i like trading H4 charts very much, it gives much less stress and saves you a lot screen time, especially for me a part time trader the Renko charts are new to me as well, I am just trying to use it aligning with H4 trend conditions. ussaully I use 25 pips brick size Renko when watching H4 charts, it works out nicely although I had not much data to prove it the only thing is that Renko just updates new bars when prive movement achieves certain distance, I just can not juge when the new color changed bar will form not by a certain...
I'm with you... screen time is an issue so 4H is great TF if you consider time saving and potential benefits on the moves from it. Renko is a very interesting trading methodology to me as well, but I also pointed out weeks ago the same issue about having to be in the screen to capture the moves, as one brick may take seconds, minutes or hours to form. You have much less noise on your graph, but still have to be stalled at the screen.

Do you follow any other thread that you consider interesting for 4H - 1D trading?

Best to all
  • #982
  • Feb 13, 2015 10:02am Feb 13, 2015 10:02am
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nescentia necat
  • #983
  • Feb 13, 2015 10:10am Feb 13, 2015 10:10am
Dee Hi, when you are around I wonder if you could look at this for me. Will probably only be of interest for NinjaTrader users.

I have downloaded your template and have been playing around with it, and wondered if you had tried any similar alternatives. I remember a post a few days back re A Standard for RENKO.

I have attached 2 screenshhots, screenshot2 shows Ninjas standard RENKO and the same plus Ninjas standard Heiken Ashi. The screenshot2 shows the ones in your template i.e. NT RENKO and Hieken Ashi v2

A couple of points from my initial look.

1. Screenshot2 is I understand it standard RENKO i.e. movement of 5 pips from previous close creates a higher or lower bar whereas the NT RENKO seems to be in fact 4 pips but is centred on previous close and therefor a rise/fall of 2 pips per bar.

2. The MAs both the 5 And 150 appear different between the two, probably correct but does give a different interpretation, in fact the 5 in screenshot 2 kept you in longer, although the end result is the same it could have helped stay in and get out earlier.

Would be interest in your view, it may be at the end of the day it comes down to personal preference.

Cheers

Alan
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  • #984
  • Feb 13, 2015 10:21am Feb 13, 2015 10:21am
+16
Attached Image
  • #985
  • Feb 13, 2015 10:29am Feb 13, 2015 10:29am
Quoting Moonie
Hi Dee, Had my first go at your divergence method today. Like every other trade I make, it turned around and went the other way unfortunately. Only on demo, so no damage. Any advice on where I went wrong would be very gratefully received. Moonie. {image} {quote}
Hi Moonie. I marked up your chart to highlite what was missed that showed caution was required.
2 failed Hidden Divergences before your entry
There was a 123 Reversal pattern before your entry.
2 Lower Highs
Just above out of sight, 1.1450 BRN
Price had stopped at 1.1440 which was a prior S&R level
MACD below zero = Momentum down
Stochs Lower High and deep in Over Sold.

Basically you should have waited for price to prove it's intentions.
Hidden Divergence is less reliable than Regular Divergence

Hope it helps
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Cut your Losers short and let your Winners run.
  • #986
  • Feb 13, 2015 10:34am Feb 13, 2015 10:34am
Quoting Aeb82
+16 {image}
Cocky So and So! I am simply not a Monday Morning/ Friday Afternoon sort of guy. My mother did not bring me up that way.
Cut your Losers short and let your Winners run.
  • #987
  • Feb 13, 2015 11:02am Feb 13, 2015 11:02am
Excellent Dee, thank you so much. I just need to remind myself the difference between hidden and regular divergence.
Quoting dee50
{quote} Hi Moonie. I marked up your chart to highlite what was missed that showed caution was required. 2 failed Hidden Divergences before your entry There was a 123 Reversal pattern before your entry. 2 Lower Highs Just above out of sight, 1.1450 BRN Price had stopped at 1.1440 which was a prior S&R level MACD below zero = Momentum down Stochs Lower High and deep in Over Sold. Basically you should have waited for price to prove it's intentions. Hidden Divergence is less reliable than Regular Divergence Hope it helps {image}
  • #988
  • Edited 11:48am Feb 13, 2015 11:05am | Edited 11:48am
Quoting saintalan
Dee Hi, when you are around I wonder if you could look at this for me. Will probably only be of interest for NinjaTrader users. I have downloaded your template and have been playing around with it, and wondered if you had tried any similar alternatives. I remember a post a few days back re A Standard for RENKO. I have attached 2 screenshhots, screenshot2 shows Ninjas standard RENKO and the same plus Ninjas standard Heiken Ashi. The screenshot2 shows the ones in your template i.e. NT RENKO and Hieken Ashi v2 A couple of points from my initial look....
Hi Alan. I actually use the "Better Renko Bars".
With regard to the differences, I found the same and it is annoying because it is impossible to tell which is the best method, there is another Renko bar type available for NT which uses a different method to calculate the bars infact it has 3 customizable settings and starts to form the next bar from the centre of the previous bar not the close?? and I have come across a few commercial versions, as well, all of them slightly different. Which is the best? I have no idea! As you said it is a matter of personal preference.

EDIT. I have found the post on Big Mikes that refers to the UNI RENKO bar type I will PM you with the link.

The difference in the MAs is understandable, if the bars have different closes then the MAs will be different as well even the oscillators will look slightly different.

Sorry that I can not enlighten you further but I find the whole thing confusing which is why I opted to stay with one type and get used to that.
Cut your Losers short and let your Winners run.
  • #989
  • Feb 13, 2015 11:21am Feb 13, 2015 11:21am
Quoting cfabian
{quote} I'm with you... screen time is an issue so 4H is great TF if you consider time saving and potential benefits on the moves from it. Renko is a very interesting trading methodology to me as well, but I also pointed out weeks ago the same issue about having to be in the screen to capture the moves, as one brick may take seconds, minutes or hours to form. You have much less noise on your graph, but still have to be stalled at the screen. Do you follow any other thread that you consider interesting for 4H - 1D trading? Best to all
Hi Guys
I am not sure why you want to use Renkos on a 4hr TF, the point of Renkos is
Remove time element which subsequently removes noise.

Surely trading the standard 4hr candles already removes much of the noise!

The only way to get round the lack of time using Renkos is to set an alarm when a price level has been hit, with Renkos that is easy, every 25 pips (4hr candle) an alarm goes off calling you back to your screen, if that is no good then you should trade the Daily, once a day you look at your screen.
Cut your Losers short and let your Winners run.
  • #990
  • Feb 13, 2015 12:20pm Feb 13, 2015 12:20pm
Quoting Moonie
Excellent Dee, thank you so much. I just need to remind myself the difference between hidden and regular divergence. {quote}
There is PDF in the attachments section (paper clip)
Cut your Losers short and let your Winners run.
  • #991
  • Feb 13, 2015 12:54pm Feb 13, 2015 12:54pm
Quoting dee50
{quote} Hi Guys I am not sure why you want to use Renkos on a 4hr TF, the point of Renkos is Remove time element which subsequently removes noise. Surely trading the standard 4hr candles already removes much of the noise! The only way to get round the lack of time using Renkos is to set an alarm when a price level has been hit, with Renkos that is easy, every 25 pips (4hr candle) an alarm goes off calling you back to your screen, if that is no good then you should trade the Daily, once a day you look at your screen.

Pals,
Post 314 has the alarm indicator (put it on offline chart) which goes off when there is a color change. Hope this helps and green pips to you all.
  • #992
  • Feb 13, 2015 2:03pm Feb 13, 2015 2:03pm
Thanks Dee, I'll check it out.
Quoting dee50
{quote} There is PDF in the attachments section (paper clip)
  • #993
  • Edited 3:54am Feb 14, 2015 1:15am | Edited 3:54am
hello fellow traders,

FWIW, I was going through this week's trading charts on EU. I came across something interesting. It might be of any use to anyone.
I was mainly looking into the divergences, almost all the time the divergence (regular ones) work out pretty well, infact, remarkably so, I have even watched them forming last two days. below are the charts from this week's EU pair. I have only considered regular divergences on 3 pip renko block chart. I may have missed some divergences. Here are the charts to look over

9th

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10th

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11th

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12th

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13th

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  • #994
  • Feb 14, 2015 4:52am Feb 14, 2015 4:52am
Quoting friska
{quote} of course, here it is. {file} {file}
HELP HELP.....

Please, anybody with coding skills can you add an alarm alert if there is a change of colour bar e.g from red to green and vice versa, of this oscillator?
will be very glad if someone can help out
  • #995
  • Feb 14, 2015 8:07am Feb 14, 2015 8:07am
Quoting civilpes2001
hello fellow traders, FWIW, I was going through this week's trading charts on EU. I came across something interesting. It might be of any use to anyone. I was mainly looking into the divergences, almost all the time the divergence (regular ones) work out pretty well, infact, remarkably so, I have even watched them forming last two days. below are the charts from this week's EU pair. I have only considered regular divergences on 3 pip renko block chart. I may have missed some divergences. Here are the charts to look over 9th {image} 10th {image}...
well done civilpes2001... I should do it too.
nescentia necat
  • #996
  • Feb 14, 2015 8:09am Feb 14, 2015 8:09am
Quoting cfabian
{quote} I'm with you... screen time is an issue so 4H is great TF if you consider time saving and potential benefits on the moves from it. Renko is a very interesting trading methodology to me as well, but I also pointed out weeks ago the same issue about having to be in the screen to capture the moves, as one brick may take seconds, minutes or hours to form. You have much less noise on your graph, but still have to be stalled at the screen. Do you follow any other thread that you consider interesting for 4H - 1D trading? Best to all
hi cfabian
I have been using TMS trading 4H for quite a while, it generates pretty pips. you may have a try on that
Renko charts are the new interesting stuff for me, I just want to have a try on it when I have time watching screen.
patience is a virtue
  • #997
  • Feb 14, 2015 8:09am Feb 14, 2015 8:09am
Quoting Esosa
{quote} HELP HELP..... Please, anybody with coding skills can you add an alarm alert if there is a change of colour bar e.g from red to green and vice versa, of this oscillator? will be very glad if someone can help out
esosa,see also post 938...
nescentia necat
  • #998
  • Feb 14, 2015 8:39am Feb 14, 2015 8:39am
Quoting dee50
{quote} Hi Guys I am not sure why you want to use Renkos on a 4hr TF, the point of Renkos is Remove time element which subsequently removes noise. Surely trading the standard 4hr candles already removes much of the noise! The only way to get round the lack of time using Renkos is to set an alarm when a price level has been hit, with Renkos that is easy, every 25 pips (4hr candle) an alarm goes off calling you back to your screen, if that is no good then you should trade the Daily, once a day you look at your screen.
hi dee
for me because I am a part time trader, I can only spare 10-15 minutes every 4 hours or so. so 4H TF is my only option if I want to participate in trading activities.
but in the meanwhile, when I am off work, I can use some screen time for about 1 or 2 hours during NY open, so study Renko charts trading is also meaningful to me.
for the 25 pips alarm stuff, when I am at work, I may be in a meeting, doing test, in the manufacturing line etc. alarm may not make me to check screen on time.

so I am just looking for trading style that works for me only, thanks for undersanding
patience is a virtue
  • #999
  • Feb 14, 2015 8:46am Feb 14, 2015 8:46am
Quoting bluejack
{quote} Pals, Post 314 has the alarm indicator (put it on offline chart) which goes off when there is a color change. Hope this helps and green pips to you all.
thanks a lot for sharing the indi!
patience is a virtue
  • #1,000
  • Feb 14, 2015 12:47pm Feb 14, 2015 12:47pm
Quoting friska
{quote} esosa,see also post 938...
Though i have not run it in time based chart, i have been wacthing it on renko with no remarkable repainting issue or have you noticed it too?
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