Renko SIC System

Hi guys and gals.
At the beginning i want to say that i'm not sure of anything...
I have new idea to trade renko.
When this idea was born the market was closed so be generous because i can't check my ideas at this time.
I don't know if used indicators are repaint or not.
I hope the renko lovers say something interesting about this method.



So let's check the rules.

1. Wait for colour change
2. Wait for VCustom 3 brick will close over "6 level" or under "-6 level"
3. Check support and resistance indi
Don't go for BUY if Sup/Res is just above the price
Don't go for SELL if Sup/Res is just below the price
4. Wait for "Trend Direction" indi goes under (SELL) or above (BUY) middle lines
5. If all conditions are met You can take the trade.
6. Take 20 pips and leave the market
If PA don't turn on another candle, You can make another checklist...
If every condition is met You can re-enter and take next 20 pips

WHEN TO GO OUT?
When Trend Direction indi starts to falling or going up from previous position You must runnaway.

Now let me take You to a journey of my logic.

I will explain each of my 19 points of changing colour of renko bricks and tell You why this point is good or bad...
1. VCustom 3 isn't under "-6 level" -> BAD TRADE
2. Every condition was met so it is a GOOD TRADE
3. No conditions met -> BAD TRADE
4. No conditions met -> BAD TRADE (But 1 brick later all conditions was met, so it's GOOD TRADE)
5. No conditions met -> BAD TRADE (But 2 bricks later all conditions was met, so it's GOOD TRADE)
6. No conditions met -> BAD TRADE
7. All conditions are met BUT we have only about 13 pips to SUP/RES so I don't recommend this trade as a valid one -> BAD TRADE
8. No conditions met -> BAD TRADE
9. No conditions met -> BAD TRADE
10. No conditions met -> BAD TRADE
11. No conditions met -> BAD TRADE (But 1 brick later all conditions was met BUT we have only about 13 pips to SUP/RES so I don't recommend this trade as a valid one -> BAD TRADE)
12. No conditions met -> BAD TRADE (But 1 brick later all conditions was met, so it's GOOD TRADE)
13. No conditions met -> BAD TRADE (But 2 bricks later all conditions was met, so it's GOOD TRADE)
14. No conditions met -> BAD TRADE (But 1 brick later all conditions was met, so it's GOOD TRADE)
15. No conditions met -> BAD TRADE
16. Every condition was met so it is a GOOD TRADE
17. No conditions met -> BAD TRADE (But 1 brick later all conditions was met, so it's GOOD TRADE)
18. No conditions met -> BAD TRADE
19. Every condition was met so it is a GOOD TRADE

On my chart I have one more indi(arrows) I didn't mention earlier, it's SMA Crossover Justin.
I don't know is he repainting... I will check this on monday.
For now (when the market is closed) it looks nice.

Important thing - with this rules we can avoid ranging market.
Only when all conditions are met we can enter the market.

I don't know if we need SL?
We close our trade on every change colour of the brick.
When You are out of Your screen You can use SL, but what SL?
I hope You guys figure something out

If anyone have question please ask. I'll try to answer as fast as I can.

And of course I apologize for mistakes in english.

Stay green
Laksior

Hello! Thanks for sharing your system. Looks good! SMA Crossover Justin doesn't repaint! Can you tell me pls which settings do you actualy use with this indicator?

Here You go mate

Impressive pic - indeed !

And an interesting Renko approach !

I'm curious how this strategy will work in open markets ... waiting your forthcoming results + experience !

Thank You, will see what brings us next week

Thanks a lot! Will taest it tomorrow!

Please load your template. Thanks

which renko size? And the template is not in the rar.

SMA Crossover Justin repaint

Brick size is 10 pips.
Rar file in the first post updated.
*.tpl inside.

Going to sleep

@laksior

So .... any good news here ?

Today i had no time Couple trades but i didn't follow my rules. I was searching better entry poins but i didn't find them.
Tomorrow i will have some time in late US session so i will try to trade strictly to the rules
BTW i think that SMA Crossover Justin is useless

Ja naja... the VCustom3 Indi looks good for entry. But in the past it looks all good
I see it tomorrow.

The Trend direction is for my trading non essential.

But the System has potential

Thanks Hansi, let's test it some time.
I have a day job so i don't have much time for trading.
The only hope are traders visiting this thread.

If only someone testing this method, please post Your results here.

Cheers

My visual backtest: (taken out the support/resistance parameter as this is not found in the history and might be repainted afterwards)
EU Past 3 weeks 38W, 10L net approx 410pips
GU Past 3 weeks 29W, 10L net approx 230 pips
Any S/R indicator (not repainted) can be recommended so as to check the method to reduce the L?


The other problem is Vcustom3 consumed a lot of CPU memeory, the computer is running very slow even only for 1 single pair. How to improve it?

Do the arrows print right when the price action triggers the signal or does the arrow print at the close of the renko bar the arrow appears on?

SMA Crossover Justin is useless. He prints arrow one brick to late.
When brick change colour to red or green the arrow is printed on the close of next brick same colour.
So we have an arrow after two closed bricks which is sometimes to late.

Ok, so dont let us care about fancy arrows. What about the strategy itself ?

Does it "work" ?? That's much more intriguing !

What I'm seeing from my testing is that the arrow appears at the close of the renko bar and does not repaint. I'm using a 5 pip renko setting with the following settings for catching big trends.

Fast_MA_Period - 1
Slow_MA_Period - 18
Signal_period - 36

There was one time where an arrow appeared, I then adjusted the settings, went back to my original settings and the arrow had disappeared. I still need to confirm this through testing to see if this happens again.

The support and resistance zones work really good.