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More simple is impossible

  • #4,241
  • Dec 6, 2015 8:56am Dec 6, 2015 8:56am
Then there is MathTrader7's EAs. I thought FF renko traders are already familiar with it...
http://www.forexfactory.com/showthread.php?t=535170
:: everything is awesome ::
  • #4,242
  • Dec 6, 2015 9:26am Dec 6, 2015 9:26am
Quoting Black Fox
Then there is MathTrader7's EAs. I thought FF renko traders are already familiar with it... http://www.forexfactory.com/showthread.php?t=535170
Thanks for this one and thanks for the other one, funny that they did not come up in my search this morning.
I am looking forward to seeing which one performs the best, and which one molests my CPU the least.

It is good that we now have a choice of Renko EAs, my concern was when were MT4 going to have another upgrade that stopped our current Renko EA from working. Now we at least have options.

Again, thanks.
Cut your Losers short and let your Winners run.
  • #4,243
  • Dec 6, 2015 3:27pm Dec 6, 2015 3:27pm
This scalping method works best when the market is ranging. Yet even on days when its trending strongly there are good ranges to play when its catching its breath. In fact these can be the best of times to scalp...

We are playing price oscillations here and the main tool is Stochs and Macd.....its nice to have backup and for that its fibs, divergence, BRN and S&R....is this sounding familiar???

Use the 3,5 and 10 brick renco charts and toggle back and forth between them to see what stochs and Macd are telling you for each of the 3 brick sizes..
I trade off the 3 or 5 Renco depending on the size of the previous price oscillations.....I like swings of 8-12 bricks[this is not cast in stone].....if the 3 renco is swinging 15 to 25 bricks i switch to the 5 renco.....
Look for a bounce off of Stochs OB/OS along with some other confirmation......enter trade....get rich.
I would like to tell you its all that simple but unfortunately it is not.....
This is where PA comes into play
  • #4,244
  • Dec 6, 2015 3:50pm Dec 6, 2015 3:50pm
Quoting PhilippineFX
This scalping method works best when the market is ranging. Yet even on days when its trending strongly there are good ranges to play when its catching its breath. In fact these can be the best of times to scalp... We are playing price oscillations here and the main tool is Stochs and Macd.....its nice to have backup and for that its fibs, divergence, BRN and S&R....is this sounding familiar??? Use the 3,5 and 10 brick renco charts and toggle back and forth between them to see what stochs and Macd are telling you for each of the 3 brick sizes.....
The last trade on this chart is a good example....stochs bounced nicely off of OS and fib.....I got out for 15 as stochs entered OB ......in my mind this was a good trade. The Cycle was 20-25 pips so grabbing a 3rd of that was optimum....the screen shot was taken off the 5 renco but I managed it off the 3 chart......watched 6 cycles[3 up, 3down] waiting for the fib 61.8 bounce.....risk here was very small....i recall this trade took around one minute....
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  • #4,245
  • Dec 6, 2015 3:55pm Dec 6, 2015 3:55pm
Quoting PhilippineFX
{quote} The last trade on this chart is a good example....stochs bounced nicely off of OS and fib.....I got out for 15 as stochs entered OB ......in my mind this was a good trade. The Cycle was 20-25 pips so grabbing a 3rd of that was optimum....the screen shot was taken off the 5 renco but I managed it off the 3 chart......watched 6 cycles[3 up, 3down] waiting for the fib 61.8 bounce.....risk here was very small....i recall this trade took around one minute.... {image}
In hindsight the double top on the 3rd cycle was a good entry as well
  • #4,246
  • Dec 6, 2015 5:07pm Dec 6, 2015 5:07pm
Stochs OB/OS is the go to tool....but often it does not bounce but rather it claws along the glass ceiling/floor while price continues on its merry way to the end of the cycle before finally retracing....here`s where Macd comes into play...this is a classic example of Macd peaking and reversing at the top of a cycle while Stocks is lost in space. It happens often so keep a look out for this one
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  • #4,247
  • Dec 6, 2015 5:14pm Dec 6, 2015 5:14pm
Quoting PhilippineFX
This scalping method works best when the market is ranging. Yet even on days when its trending strongly there are good ranges to play when its catching its breath. In fact these can be the best of times to scalp... We are playing price oscillations here and the main tool is Stochs and Macd.....its nice to have backup and for that its fibs, divergence, BRN and S&R....is this sounding familiar??? Use the 3,5 and 10 brick renco charts and toggle back and forth between them to see what stochs and Macd are telling you for each of the 3 brick sizes.....

really nice,
thanks for your time and for the detailed explanation
nescentia necat
  • #4,248
  • Dec 6, 2015 5:15pm Dec 6, 2015 5:15pm
Quoting PhilippineFX
Stochs OB/OS is the go to tool....but often it does not bounce but rather it claws along the glass ceiling/floor while price continues on its merry way to the end of the cycle before finally retracing....here`s where Macd comes into play...this is a classic example of Macd peaking and reversing at the top of a cycle while Stocks is lost in space. It happens often so keep a look out for this one {image}
and 2 more times....for a scalp the last one was still tradable
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  • #4,249
  • Dec 6, 2015 5:20pm Dec 6, 2015 5:20pm
Quoting PhilippineFX
{quote} and 2 more times....for a scalp the last one was still tradable {image}
same screenshot showing stochs doing its fly imitation at OS[yellow line]
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  • #4,250
  • Dec 6, 2015 5:24pm Dec 6, 2015 5:24pm
Quoting dee50
Hi every one, hope you are having a good weekend, sad bugger that I am, i have been searching around the web to see if any one has produced an upgraded Renko Bar Expert Advisor and I have come across this. Renkolivechart. v600.4 A chap called Stanislav Korotky has re written the original EA Here is the link to the original thread and post. The EA was released on the 25/11/2015 so it could not be more recent. https://www.mql5.com/en/forum/35722/...omment_2069574 Here is the EA. {file} This is a comparison of the 2 EAs, Renkolivecharts...
Quoting Black Fox
Then there is MathTrader7's EAs. I thought FF renko traders are already familiar with it... http://www.forexfactory.com/showthread.php?t=535170
precious!
I also found another set of EA posted by a user while ago (i think no longer part of the FF). it was 'median renko'. some also linked to indicators such as MACD or Stoch, but I never examined the subject. I saved the thread somewhere, just find the link and I'll post here if it can be to someone's curiosity.
Meanwhile, thanks to share resources.
cheers
nescentia necat
  • #4,251
  • Dec 6, 2015 5:33pm Dec 6, 2015 5:33pm
Quoting PhilippineFX
{quote} same screenshot showing stochs doing its fly imitation at OS[yellow line] {image}
here is stochs doing what i like,,,,its a tip of the sword reversal off of a divergence...I know these are not real trade examples....the real world is not this clean....its just an example of what to look for
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  • #4,252
  • Dec 6, 2015 5:41pm Dec 6, 2015 5:41pm
Quoting PhilippineFX
{quote} here is stochs doing what i like,,,,its a tip of the sword reversal off of a divergence...I know these are not real trade examples....the real world is not this clean....its just an example of what to look for {image}
That is it for the technical side of this....its a simple case of price oscillating from OB/OS/OB/OS/OB etc on Macd and Stochs with confirmation from the usual suspects....that is the easy part....I will explain later about how I enter and exit as well as that crazy muse otherwise known as Price Action....this is where it gets interesting.
  • #4,253
  • Dec 6, 2015 5:50pm Dec 6, 2015 5:50pm
Quoting PhilippineFX
{quote} That is it for the technical side of this....its a simple case of price oscillating from OB/OS/OB/OS/OB etc on Macd and Stochs with confirmation from the usual suspects....that is the easy part....I will explain later about how I enter and exit as well as that crazy muse otherwise known as Price Action....this is where it gets interesting.
Thank you for all your posts, I was waiting for this stuff all the time !
  • #4,254
  • Dec 6, 2015 6:00pm Dec 6, 2015 6:00pm
Quoting PhilippineFX
{quote} That is it for the technical side of this....its a simple case of price oscillating from OB/OS/OB/OS/OB etc on Macd and Stochs with confirmation from the usual suspects....that is the easy part....I will explain later about how I enter and exit as well as that crazy muse otherwise known as Price Action....this is where it gets interesting.
Thank you very much! Now it's time to let my brain process it!
  • #4,255
  • Dec 6, 2015 7:31pm Dec 6, 2015 7:31pm
Quoting Matomi
{quote} Thank you for all your posts, I was waiting for this stuff all the time !
you are welcome...but this is the easy part.....without a real understanding of price action and entry exit management it will fail like any other system...i will get to that today
  • #4,256
  • Dec 6, 2015 7:33pm Dec 6, 2015 7:33pm
Quoting nuckern
{quote} Thank you very much! Now it's time to let my brain process it!
Again you are most welcome....this is easy stuff...the hard part is coming.....i will try and explain how i manage the trade the best i can in a few hours...
  • #4,257
  • Dec 6, 2015 8:00pm Dec 6, 2015 8:00pm
I do not trade the Asian session as the spread is too big and moves are too slow but this is a good example of a trade worth looking at during the euro session.....tip of the sword OB reversal on stochs with price failing to get to fib 50..also the 2nd red brick formed a mini 123 confirming the move..out at 10853 where price held 4 times already....this was an easy 5-7 pips....you can steal these all day long
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  • #4,258
  • Dec 7, 2015 1:15am Dec 7, 2015 1:15am
Quoting PhilippineFX
I do not trade the Asian session as the spread is too big and moves are too slow but this is a good example of a trade worth looking at during the euro session.....tip of the sword OB reversal on stochs with price failing to get to fib 50..also the 2nd red brick formed a mini 123 confirming the move..out at 10853 where price held 4 times already....this was an easy 5-7 pips....you can steal these all day long {image}
You've clearly mastered this method, very well done and thank you for sharing.. a great thread made even greater! Look forward to learning more.
  • #4,259
  • Dec 7, 2015 5:10am Dec 7, 2015 5:10am
dax 12,15,10,8,8,8,7,12.....after a big run up she cycled 8 bricks a couple times. I thought it would hold above the BRN but it tested my resolve for a couple minutes before heading up..
Got in after seeing both stochs and Macd bouncing off OS at the same time.....out at stochs OB
I am more then happy to take the middle 2 or 3 bricks out of a 7 brick cycle to start the week...
Not the cleanest of trades but ok just the same
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  • #4,260
  • Dec 7, 2015 5:18am Dec 7, 2015 5:18am
Quoting PhilippineFX
dax 12,15,10,8,8,8,7,12.....after a big run up she cycled 8 bricks a couple times. I thought it would hold above the BRN but it tested my resolve for a couple minutes before heading up.. Got in after seeing both stochs and Macd bouncing off OS at the same time.....out at stochs OB I am more then happy to take the middle 2 or 3 bricks out of a 7 brick cycle to start the week... Not the cleanest of trades but ok just the same {image}
Nice move. There was also some solid hidden divergence at the OS levels too I noticed
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