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  • #4,981
  • Jan 18, 2016 12:26pm Jan 18, 2016 12:26pm
Thanks for all the replies and help.

I just now tried Renko live charts pimped v4.13. Everything is fine, but its not updating real-time. Below are charts of the process I followed. I tried on FxPro terminal. Don't know why not working. Just now opened a demo account in IC Markets, let me see what happens there. Thanks again, will update soon.
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  • #4,982
  • Jan 18, 2016 12:42pm Jan 18, 2016 12:42pm
In IC Markets account also exact same problem. Not surprising because all are MT4, but its really irritating to not know what's the reason . Waiting for advice. Thanks.
  • #4,983
  • Jan 18, 2016 12:52pm Jan 18, 2016 12:52pm
Quoting Dilmeshsingh
Thanks for all the replies and help. I just now tried Renko live charts pimped v4.13. Everything is fine, but its not updating real-time. Below are charts of the process I followed. I tried on FxPro terminal. Don't know why not working. Just now opened a demo account in IC Markets, let me see what happens there. Thanks again, will update soon. {image} {image} {image} {image}
One obvious thing is that the EA is not showing in the top RH of your base 1 min chart. Check with Meta editor to see if it is compiling with out Errors.
Cut your Losers short and let your Winners run.
  • #4,984
  • Jan 18, 2016 1:03pm Jan 18, 2016 1:03pm
Quoting Dilmeshsingh
In IC Markets account also exact same problem. Not surprising because all are MT4, but its really irritating to not know what's the reason . Waiting for advice. Thanks.
Just out of curiosity did you put the Renko EA in the indicator folder or the Experts folder? I only ask because I have been able to re-produce your 1 minute chart with out the EA showing in the top Right hand corner and I did this by placing the EA in the indicator folder and using it from there.
Cut your Losers short and let your Winners run.
  • #4,985
  • Edited 1:19pm Jan 18, 2016 1:07pm | Edited 1:19pm
Thanks very much Dee50. I just compiled mq4 file. No error was shown, but when I reapplied the indicator on charts it was working fine and of-course the EA name with smiley is visible on the top RH. Great many thanks, real dumb of me to miss that detail.

And yes, I was applying through Indicators not Experts. Because from Experts the EA wasn't even showing the dialog box. But when I compiled the mq4 file inside the Experts folder, the same ex4 file started showing dialog box. I had pasted both files to Experts folder directly but hadn't compiled mq4 after pasting in Experts folder. I did that and it started working.
  • #4,986
  • Jan 18, 2016 1:21pm Jan 18, 2016 1:21pm
Quoting Dilmeshsingh
Thanks very much Dee50. I just compiled mq4 file. No error was shown, but when I reapplied the indicator on charts it was working fine and of-course the EA name with smiley is visible on the top RH. Great many thanks, real dumb of me to miss that detail.
This is very frequently problem with MT4 indicators/experts/scripts, I wrote it somewhere in this thread I think - sometimes if you do every step correctly, indicator does not work and there is always one solution in this case - go to Modify mode and compile it, then it works. I do not know why this happens, but it does... Fortunantely your case, wish you lot of pips with renko chart

Btw, did you try both - FxPro and IC Markets ?
  • #4,987
  • Jan 18, 2016 1:59pm Jan 18, 2016 1:59pm
This is my only trade from today. It turned -25 on DAX.

I was short biased, saw an opportunity, and imediately came against me, hitting my SL. Didn't try to trade again, as US market was closed and not much movement.

Any takes on this trade? Please critique.

Best
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  • #4,988
  • Jan 18, 2016 3:12pm Jan 18, 2016 3:12pm
Quoting cfabian
This is my only trade from today. It turned -25 on DAX. I was short biased, saw an opportunity, and imediately came against me, hitting my SL. Didn't try to trade again, as US market was closed and not much movement. Any takes on this trade? Please critique. Best {image}
It was a decent trade in my opinion, the only problem was the US bank holiday today. You took the entry right at NY open (if I'm correct) and price simply did not have enough momentum to break lower.
Invincibility lies in the defence; the possibility of victory in the attack
  • #4,989
  • Jan 18, 2016 3:21pm Jan 18, 2016 3:21pm
Quoting cfabian
This is my only trade from today. It turned -25 on DAX. I was short biased, saw an opportunity, and imediately came against me, hitting my SL. Didn't try to trade again, as US market was closed and not much movement. Any takes on this trade? Please critique. Best {image}
Cfabian,
First, I would like to say I also a student of this method, and if my analysis is incorrect, then I would also request a correction of my thinking. Looking at the trade you took, I can not see the logic behind entering it, other then it was around a BRN. Most importantly, MACD was not negative(red) and declining. Other thing, the stochastic may have been coming from the overbought area,-maybe good for a quick scalp on a smaller renko, but note that it shifted uniformly back before even reaching 50(red circle) - this is an indication that the trend is strong bullish. Another clue for this bullish move is that you can see before it, that there is a big divergence in the MACD - price continued to decline, but MACD did not.(yellow lines) If I was in that situation, i would get out and reverse my position. Also, I would note that your SL was much too wide. That my critique ;-)
Best, Joshua
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  • #4,990
  • Jan 18, 2016 3:32pm Jan 18, 2016 3:32pm
Quoting JoshuaHope
{quote} Cfabian, First, I would like to say I also a student of this method, and if my analysis is incorrect, then I would also request a correction of my thinking. Looking at the trade you took, I can not see the logic behind entering it, other then it was around a BRN. Most importantly, MACD was not negative(red) and declining. Other thing, the stochastic may have been coming from the overbought area,-maybe good for a quick scalp on a smaller renko, but note that it shifted uniformly back before even reaching 50(red circle) - this is an indication...
You are right in your analogy, although I would like to point out that if you are trading Stochastic cycles, the MACD is going to be green and will be climbing up by the time Stochastic reach the OB area. There is also a good chance that before any run-up that takes MACD over 0 and Stochastic above 80 in a downtrend, MACD is going to show at least a slight divergence. Not all the time, but often enough. He took the TL break entry, which is way better than the MACD color change IMO, as sometimes it changes it's color on the 3rd bar. If you put your SL above the recent high, that increases the risk to 3 bar + spread at least.
Invincibility lies in the defence; the possibility of victory in the attack
  • #4,991
  • Jan 18, 2016 4:04pm Jan 18, 2016 4:04pm
Quoting cfabian
This is my only trade from today. It turned -25 on DAX. I was short biased, saw an opportunity, and imediately came against me, hitting my SL. Didn't try to trade again, as US market was closed and not much movement. Any takes on this trade? Please critique. Best {image}
Hi cfabian, this is my suggestiontoppo
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  • #4,992
  • Jan 18, 2016 4:25pm Jan 18, 2016 4:25pm
Quoting toppo qqq
{quote} Hi cfabian, this is my suggestiontoppo {image}
interesting! U have TMA indi and settings?
"Hoe ur pips mate?" fxcarllos
  • #4,993
  • Jan 18, 2016 4:26pm Jan 18, 2016 4:26pm
Quoting cfabian
This is my only trade from today. It turned -25 on DAX. I was short biased, saw an opportunity, and imediately came against me, hitting my SL. Didn't try to trade again, as US market was closed and not much movement. Any takes on this trade? Please critique. Best {image}
It was good setup, 50% Fibo + Hdiv, but look what price was doing before - range, and after range I am very carefully what price will going to do, I am waiting for very good signal, mainly 50% Fibo and some Hdiv or S/R, BRN bounce. This is exactly that case, but first - you entered in "no mans land" on crossing EMA 3, indicator or whatelse and second - look at the time of those candles, this is clear signal of stalling price, first red brick was creating for 10 minutes, second red candle 5 minutes. Less indicators, more PA
  • #4,994
  • Jan 18, 2016 4:30pm Jan 18, 2016 4:30pm
Quoting BBalazs
{quote} It was a decent trade in my opinion, the only problem was the US bank holiday today. You took the entry right at NY open (if I'm correct) and price simply did not have enough momentum to break lower.
Its hard to form a bias when price was in such an epic battle.....but when macd cleared the 50 line formed a 123 and took off you had to be thinking long.....maybe we have to use a different term then bias...in scalping it is better to be flexible
  • #4,995
  • Jan 18, 2016 5:01pm Jan 18, 2016 5:01pm
Quoting Carllos
{quote} interesting! U have TMA indi and settings?
Here U go, default setting...
Attached File(s)
File Type: mq4 TMA.mq4   13 KB | 460 downloads
Attached File(s)
File Type: ex4 TMA.ex4   34 KB | 365 downloads
  • #4,996
  • Jan 18, 2016 7:59pm Jan 18, 2016 7:59pm
Thank you all for your feedback. This is the way we learn.

Joshua, I didn't pay much attention to div, as price was holding at that resistance area. Another fact is that indicators repaint. At that time MACD was heading down with red color. As per SL, many times I'm more comfortable with wider SL as shorter are hit more often. You need to let price breath. At least I learnt this trading from H4. But yes, I need to pay more attention to div.

Toppo, I'll have a look at TMA. Many thanks for that. I also didn't look at renko 10. I only use renko 5 plus standard candles.

Matomi, you are right about stalling price. That is the reason I gave only 1 shot today.

Philippine, about MACD crossing 50% and then 123, it is true that most of the times we are looking for change in direction of the MACD on the other side of the 0 line in order to get the full cycle, and that was my reasoning because price was supporting at that time, then broke, and then saw this price action at that area at the retracement. That was my reasoning.

Many thanks again to all. Best.






Quoting cfabian
This is my only trade from today. It turned -25 on DAX. I was short biased, saw an opportunity, and imediately came against me, hitting my SL. Didn't try to trade again, as US market was closed and not much movement. Any takes on this trade? Please critique. Best {image}
  • #4,997
  • Jan 18, 2016 8:44pm Jan 18, 2016 8:44pm
Quoting cfabian
...Toppo, I'll have a look at TMA. Many thanks for that. I also didn't look at renko 10. I only use renko 5 plus standard candles..
Just for those interested, this is my display pic, with renko 10 and 6 pip charts side by side. I only trade off this screen. The attached indicators are optional, not a necessity. toppo
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Attached File(s)
File Type: mq4 3_Level_ZZ_Semafor.mq4   8 KB | 369 downloads
Attached File(s)
File Type: ex4 3_Level_ZZ_Semafor.ex4   19 KB | 358 downloads
Attached File(s)
File Type: mq4 ArrZZx2.mq4   9 KB | 386 downloads
Attached File(s)
File Type: ex4 ArrZZx2.ex4   32 KB | 376 downloads
  • #4,998
  • Jan 18, 2016 9:58pm Jan 18, 2016 9:58pm
Quoting cfabian
Thank you all for your feedback. This is the way we learn. Joshua, I didn't pay much attention to div, as price was holding at that resistance area. Another fact is that indicators repaint. At that time MACD was heading down with red color. As per SL, many times I'm more comfortable with wider SL as shorter are hit more often. You need to let price breath. At least I learnt this trading from H4. But yes, I need to pay more attention to div. Toppo, I'll have a look at TMA. Many thanks for that. I also didn't look at renko 10. I only use renko 5 plus...
When the "cycle" is interrupted by 63 minutes of spastic tight ranging PA it is best to take a break and wait for better conditions....i think you need to redefine what you believe a cycle is...
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  • #4,999
  • Jan 19, 2016 12:27am Jan 19, 2016 12:27am
Quoting Matomi
{quote} This is very frequently problem with MT4 indicators/experts/scripts, I wrote it somewhere in this thread I think - sometimes if you do every step correctly, indicator does not work and there is always one solution in this case - go to Modify mode and compile it, then it works. I do not know why this happens, but it does... Fortunantely your case, wish you lot of pips with renko chart Btw, did you try both - FxPro and IC Markets ?
Initially, I tried in both, but I was making the same mistake. After doing it correctly in FxPro, I just copy pasted the same mq4 and ex4 files in IC Markets and it worked properly.
  • #5,000
  • Jan 19, 2016 12:42am Jan 19, 2016 12:42am
Quoting toppo qqq
{quote} Hi cfabian, this is my suggestiontoppo {image}
Problem with TMA bands is that it recalculates it's values, giving the bands different angles as price moves. Looking at past data, there's no knowing how the TMA situation looked like at that particular moment.
Invincibility lies in the defence; the possibility of victory in the attack
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