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  • #7,021
  • May 10, 2016 3:42pm May 10, 2016 3:42pm
Quoting Doc_B
I compiled Dee`s posts until today. I find them very, very helpful and I hope he will come back soon. {image} {image} You will find Part 1,2 and 3 on Page 212. Doc_B
What a huge job!! Thank you very much.
Kind regards,
Daniel
  • #7,022
  • May 11, 2016 2:35am May 11, 2016 2:35am
Quoting Intrepidpips
{quote} Visually it seems so sweet to trade to the left, in fact the Renko 4 and Renko 2 combination is excellent but, I will have to wait and see tomorrow in the heat of the day's trading if it lives up to it's claim of "non repainting". The drawback is it gobbles resources, my CPU hits 99% at times, and it's not news release time.

Hi Intrepidpips, what do you mean Renko 4 and Renko 2 combination?
Can you please explain it shortly?
Thank you.
  • #7,023
  • May 11, 2016 2:40am May 11, 2016 2:40am
Quoting pipking-tr
{quote} Hi Intrepidpips, what do you mean Renko 4 and Renko 2 combination?
Using the 4 pips brick size Renko chart as your signal chart and the 2 pips brick size Renko chart as your entry chart.
Let it turn and find your entry.
  • #7,024
  • May 11, 2016 3:23am May 11, 2016 3:23am
I have been looking at several issues with this Renko trading, (not about to quit in the next 10 years, no) I like the Renko 4 / Renko 2 combo but sometimes I find that I just can't find a retracement to enter on the Renko 2 chart and only later after refreshing my charts that I'd discover that there was a little retracement that I could have taken advantage of, so I tried out the Mean/Median/Better Renko and still not so comfortable with my entry chart on that one plus the fact that it slows my PC down. I tried the R5/R2.5 combo but still the problem of finding that retracement quick enough even when the charts are not repainting.
I concluded that I just need to upgrade my Workstation to take care of the repainting but in the mean time I decided to try Renko 5 and Renko 1 combination and it's wonderful for someone who is daily net pips target minded.
The only issue left with that is the MACD color change, I swear it repainted on me so I'm doing away with the color change on the R5 chart. There were opportunities this morning with the Renko 5 giving a buy signal first but being on the Renko 2.5 I could not find an entry, that was when the decision to go to Renko 1 for entries came and the second signal, a sell after a double top but the Color change came late but after 2 bars it repainted
The issue with Renko 1 is it's slowing down my PC, the Long term solution is a higher specs Workstation.


Still a long day ahead.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: RENKO 120.png Size: 78 KB
Click to Enlarge Name: RENKO 121.png Size: 82 KB
Let it turn and find your entry.
  • #7,025
  • May 11, 2016 3:28am May 11, 2016 3:28am
Quoting Intrepidpips
I have been looking at several issues with this Renko trading, (not about to quit in the next 10 years, no) I like the Renko 4 / Renko 2 combo but sometimes I find that I just can't find a retracement to enter on the Renko 2 chart and only later after refreshing my charts that I'd discover that there was a little retracement that I could have taken advantage of, so I tried out the Mean/Median/Better Renko and still not so comfortable with my entry chart on that one plus the fact that it slows my PC down. I tried the R5/R2.5 combo but still the problem...
I never seen the MACD repainting. Why don't you try it in the MT4 trade simulator? I usually do that if I have any doubt regarding a new indicator. Isn't the 1 pip renko kills your PC? It certainly choked mine. 2 pips is the minimum my laptop can handle.

Edit: nwm the question, I did not see you answered it. Anyway, my PC almost froze as soon as I set the renko expert to 1 pip.
Invincibility lies in the defence; the possibility of victory in the attack
  • #7,026
  • May 11, 2016 5:35am May 11, 2016 5:35am
Quoting BBalazs
{quote} I never seen the MACD repainting. Why don't you try it in the MT4 trade simulator? I usually do that if I have any doubt regarding a new indicator. Isn't the 1 pip renko kills your PC? It certainly choked mine. 2 pips is the minimum my laptop can handle. Edit: nwm the question, I did not see you answered it. Anyway, my PC almost froze as soon as I set the renko expert to 1 pip.
My friends have Strategy Tester Add-on but it does not come with Renko yet, The MACD may not repaint in the simulator because all the tics would be complete by the time you are running the test. remember we are running our indicators on an offline chart, so that sets the indicators up for repainting any indie that repaints will have plenty incentive to on offline charts running forward.

The solution to using the Renko 1 pips brick size is obtaining the highest possible PC specs and constantly refreshing your M1 chart (IMHO).
Let it turn and find your entry.
  • #7,027
  • May 11, 2016 5:37am May 11, 2016 5:37am
Quoting Intrepidpips
I have been looking at several issues with this Renko trading, (not about to quit in the next 10 years, no) I like the Renko 4 / Renko 2 combo but sometimes I find that I just can't find a retracement to enter on the Renko 2 chart and only later after refreshing my charts that I'd discover that there was a little retracement that I could have taken advantage of, so I tried out the Mean/Median/Better Renko and still not so comfortable with my entry chart on that one plus the fact that it slows my PC down. I tried the R5/R2.5 combo but still the problem...
I'm looking to see if this could help
Attached Image (click to enlarge)
Click to Enlarge Name: RENKO 122.png Size: 66 KB
Attached File(s)
File Type: ex4 macd-crossover-alert-indicator.ex4   4 KB | 331 downloads
Let it turn and find your entry.
  • #7,028
  • Edited 7:48am May 11, 2016 6:16am | Edited 7:48am
Quoting mokuro89
{quote} I would use Stochastics for that, and get only the signals where the price already had a good move to one side before change to other side my chart for example, look at the yellowbox, no arrows, as the price did not move enought before changing side {image}
Thanks, but I was not looking for advice, I am doing just fine In the contrary, I pointed the flaw that exist in any strategy so that noone gets completely excited and takes every single signal.

Looking for something to apply mechanically is an everlasting quest.

I see this week that several traders are still trying to reinvent the wheel. To be honest, Dee provided the complete package and there is not much, if anything, to add to it:

 

  1. You got the MAs for direction / trend, when it's clear, trade along with it.
  2. You got the oscillators: to give you a heads up of a possible reversal with divergence; to keep you longer in the move and also to identify cycles to know when moves can be exhausted or trade in a range situation.
  3. You got two settings 5 and 10 to give you the bigger picure and neat entries.
  4. And lastly, and more importantly, as it must be the most overlooked and ignored piece of the puzzle, although the crucial one, swing points to indicate price / market structure, HH HL LH LL.


Keep a classic chart on the side for higher time frames maybe, and that's it.

In conclusion, I woud spend more time reading the PDF provided here recently than trying to pump my computer specs, really.

Hidden in plain sight.
  • #7,029
  • May 11, 2016 7:33am May 11, 2016 7:33am
Quoting jakucha
{quote} You got two settings 5 and 10 to give you the bigger picure and neat entries.
Well summed up however;

dee50 himself takes counter-trend trades going against the HTF MAs:

In utilizing 10 and 5 you have to consider the instrument you are trading, Some instruments ADR is too low for profitable day to day trading with 10/5 combination, we don't all trade DAX here.

Yeah for DAX on 10/5 you don't need much computing power.

Reading the PDFs recently posted is indeed a good investment of time.
Let it turn and find your entry.
  • #7,030
  • May 11, 2016 7:38am May 11, 2016 7:38am
Quoting Intrepidpips
{quote} Well summed up however; dee50 himself takes counter-trend trades going against the HTF MAs: In utilizing 10 and 5 you have to consider the instrument you are trading, Some instruments ADR is too low for profitable day to day trading with 10/5 combination, we don't all trade DAX here. Yeah for DAX on 10/5 you don't need much computing power. Reading the PDFs recently posted is indeed a good investment of time.
Yes we can do counter trend but that's not mandatory.
5/10 for big ATRs I agree, but small ATRs 2.5 / 5 is amply enough.
and i am using ovo on several instruments i dont see any technical issue and my machine is 7 years old.
Hidden in plain sight.
  • #7,031
  • May 11, 2016 7:52am May 11, 2016 7:52am
Quoting jakucha
{quote} Yes we can do counter trend but that's not mandatory. 5/10 for big ATRs I agree, but small ATRs 2.5 / 5 is amply enough. and i am using ovo on several instruments i dont see any technical issue and my machine is 7 years old.
Yes you have in the recent past stuck to 2.5 on DAX, and maybe I need a doctor for my 5 month old PC before I can take on OVO
Let it turn and find your entry.
  • #7,032
  • May 11, 2016 7:53am May 11, 2016 7:53am
Quoting Intrepidpips
{quote} Yes you have in the recent past stuck to 2.5 on DAX, and maybe I need a doctor for my 5 month old PC before I can take on OVO
good luck
Hidden in plain sight.
  • #7,033
  • May 11, 2016 8:01am May 11, 2016 8:01am
Exactly jakuscha!

By studying the PDF`s you will get the chance , to look a Master-Trader over his shoulder. You really don`t need more. And he is explaining his trading style over and over again. BigRoundNumber`s. Fibonacci Retracements and the Extensions are very imposrtant. Take a look, at wich levels he is exiting his trades. First you will think, how can he know in advance that this is the high or low. But in reality he is using reference points and Fibo Levels or higher Timeframe S/R-Levels. Notice, how he add contracts...and so on. He spoke also several times about Lance Beggs. You can learn alot about Targets and Exits. Dee`s posts are wisdom par excellence.
  • #7,034
  • May 11, 2016 10:16am May 11, 2016 10:16am
Someone said you got the MAs for direction.

I don't see differently.
3rd trade +4.4 entered on HD and 2 pips slippage due to slow PC so I had to exit when price approached the bands, there was a chance to re enter with a retracement but that only became obvious after refreshing the M1 chart.

Like I said before following 2 MAs on the HTF may not be too profitable.

This is why I don't trade the DAX GBPUSD 22.2 pips (less commission comes to 20.1 with 3 trades) yielded 32% trading micro lots, that is taking advantage of the house's money to grow rich.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: RENKO 124.png Size: 73 KB
Click to Enlarge Name: RENKO 123.png Size: 45 KB
Let it turn and find your entry.
  • #7,035
  • May 11, 2016 10:45am May 11, 2016 10:45am
What a miss I simply snubbed this, so upset i have to close the charts now.

No one can dissuade me from following the 5/1 combo, I even found that the chart on my second monitor with the Renko 5 chart is not as slow as the Renko 1 chart so I can click buy/sell on it with minimal slippage.
Attached Image (click to enlarge)
Click to Enlarge Name: RENKO 125.png Size: 64 KB
Let it turn and find your entry.
  • #7,036
  • May 11, 2016 10:53am May 11, 2016 10:53am
Quoting Intrepidpips
What a miss I simply snubbed this, so upset i have to close the charts now. No one can dissuade me from following the 5/1 combo, I even found that the chart on my second monitor with the Renko 5 chart is not as slow as the Renko 1 chart so I can click buy/sell on it with minimal slippage. {image}
And another whilst I was posting.
Attached Image (click to enlarge)
Click to Enlarge Name: RENKO 126.png Size: 62 KB
Let it turn and find your entry.
  • #7,037
  • May 11, 2016 12:47pm May 11, 2016 12:47pm
Quoting Intrepidpips
I even found that the chart on my second monitor with the Renko 5 chart is not as slow as the Renko 1 chart so I can click buy/sell on it with minimal slippage. {image}
I decided to risk 5 pips to see how fast the Renko 5 terminal is and indeed no slippage this time.

I squandered away the sweet opportunities that Monday brought and when I eventually took a trade it went against me then another one went my way after I bailed out at 0.3 pips leaving me in deficit for that day.
Yesterday I was away from home for most of the day I tried to catch some of the NZD news action but again the repainting Renko prevented me and I could not stay up all night to rejoin the trend.
Today with the 5/1 combo, I have made a comeback.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: RENKO 127.png Size: 74 KB
Click to Enlarge Name: RENKO 128.png Size: 78 KB
Attached Image
Let it turn and find your entry.
  • #7,038
  • May 11, 2016 12:52pm May 11, 2016 12:52pm
Quoting Intrepidpips
{quote} I decided to risk 5 pips to see how fast the Renko 5 terminal is and indeed no slippage this time. I squandered away the sweet opportunities that Monday brought and when I eventually took a trade it went against me then another one went my way after I bailed out at 0.3 pips leaving me in deficit for that day. Yesterday I was away from home for most of the day I tried to catch some of the NZD news action but again the repainting Renko prevented me and I could not stay up all night to rejoin the trend. Today with the 5/1 combo, I have made...
You are killing it!
  • #7,039
  • May 11, 2016 7:47pm May 11, 2016 7:47pm
Quoting Intrepidpips
I have been looking at several issues with this Renko trading, (not about to quit in the next 10 years, no) I like the Renko 4 / Renko 2 combo but sometimes I find that I just can't find a retracement to enter on the Renko 2 chart and only later after refreshing my charts that I'd discover that there was a little retracement that I could have taken advantage of, so I tried out the Mean/Median/Better Renko and still not so comfortable with my entry chart on that one plus the fact that it slows my PC down. I tried the R5/R2.5 combo but still the problem...
Sometimes I use the REN 1 chart .......it can tell a story during slow PA at times
  • #7,040
  • May 11, 2016 7:51pm May 11, 2016 7:51pm
Quoting jakucha
{quote} Thanks, but I was not looking for advice, I am doing just fine In the contrary, I pointed the flaw that exist in any strategy so that noone gets completely excited and takes every single signal. Looking for something to apply mechanically is an everlasting quest. I see this week that several traders are still trying to reinvent the wheel. To be honest, Dee provided the complete package and there is not much, if anything, to add to it: You got the MAs for direction / trend, when it's clear, trade along with it. You got the oscillators:...
101 % spot on......Little personalizing twerks to this are ok but it all come downs to basic PA.........when i started to focus on HHHLLHLL the noise became less of a problem....
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