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Profitable Renko System

  • #1
  • First Post: Edited 3:07am Nov 6, 2016 2:56am | Edited 3:07am
Hello Traders, i will like to share this renko system with you, and also looking forward to the improvement by you.

I Got the renko Creator here on FF and all other indicator on net so i am not a coder or a programmer, i am just a trader with idea trying to create a better system around them i have no credit for it. i am just sharing the idea maybe we can improve on it and create an ea from the system.

How to Trade it

AND Each renko box is 20pips


WE trade the arrows and trade the break its that simple.

The only improvement the system needs is trading it during the ranging market. i will be looking forward to your contribution thanks
Attached Image(s) (click to enlarge)
Click to Enlarge Name: InstaTrader Ea.png Size: 83 KB
Click to Enlarge Name: InstaTrader gbp.png Size: 82 KB
Click to Enlarge Name: InstaTrader gchf.png Size: 78 KB
Click to Enlarge Name: XM MT4 ga.png Size: 57 KB
  • #2
  • Nov 6, 2016 3:13am Nov 6, 2016 3:13am
Can you please upload indis and template. Thanks
  • #3
  • Nov 6, 2016 3:31am Nov 6, 2016 3:31am
Thanks, i hope i will see better traders than me to help on this. will upload the system now. and maybe we can develop an ea around it so that we can see the result. FPS IS A NON REPAINTING FILTER I USED FOR IT
Attached File(s)
File Type: tpl ####new research 5.tpl   3 KB | 1,294 downloads
File Type: ex4 FPS Trend .ex4   13 KB | 1,469 downloads
File Type: ex4 MA_Shift_Crossover_Alert.ex4   17 KB | 1,262 downloads
File Type: mq4 MA_Shift_Crossover_Alert.mq4   8 KB | 1,246 downloads
File Type: ex4 MathTrader7_RenkoChartCreatorEA.ex4   117 KB | 1,116 downloads
  • #4
  • Nov 6, 2016 4:04am Nov 6, 2016 4:04am
please i need contribution to this system thanks.

I need suggestion about a good exit strategy.Because entry is not as important as exit which tends to reduce the profit factor of this system.
  • #5
  • Nov 6, 2016 4:07am Nov 6, 2016 4:07am
Ollyfx,

How do you know this is profitable?
  • #6
  • Nov 6, 2016 4:40am Nov 6, 2016 4:40am
Quoting csabz90
Ollyfx, How do you know this is profitable?
That is why i want you fellow traders to check it out test and report the result thanks. i have been using it for a while now and its ok
  • #7
  • Nov 6, 2016 7:11am Nov 6, 2016 7:11am
New idea coming up check it out and tell me what we can do to improve it
Attached Image (click to enlarge)
Click to Enlarge Name: XM EURAUD FF.png Size: 56 KB
  • #8
  • Nov 6, 2016 7:44am Nov 6, 2016 7:44am
I don't believe systems like this can be profitable long term...
When your on the internet looking for systems that using indicators ... you haven't got it yet. Your not even in the ball park.

If your looking to get on right track.. Study how price moves.. Spikes.. consolidations... Stop runs.. Grinds.. Where are the market makers trading? What information are these things giving you. Do studys of the volatility at different time of day, for example how dose price act at USA open.. Do candles usually get bigger or smaller at usa open? When you find this out its another peace of the puzzle. then build your own personal system around what you find, Look for the one thing you understand from your studies. Everybody here might find something a little different that they connect with. when you study and watch these things long enough and do enough research.. you will eventually find your own personal setup, that only you can truly understand.
Most of you reading this can't understand what I'm trying to say.. because your too new.
The only system that will work is one designed by and for yourself.
  • #9
  • Nov 6, 2016 8:31am Nov 6, 2016 8:31am
Quoting bloodpoodle
I don't believe systems like this can be profitable long term... When your on the internet looking for systems that using indicators ... you haven't got it yet. Your not even in the ball park. If your looking to get on right track.. Study how price moves.. Spikes.. consolidations... Stop runs.. Grinds.. Where are the market makers trading? What information are these things giving you. Do studys of the volatility at different time of day, for example how dose price act at USA open.. Do candles usually get bigger or smaller at usa open? When you find...
bloodpoodle is right. There is not indicator which you can earn in longterm. Only price action, watching candles. Drawing trendlines, Moving Averages bounces, Support Ressitances, Yesterday Highs, lows, higher highs, higher lows, lower lows, higher lows. You need to find setup where price react for some price level and then put the trigger. If the price goes with you ok, hold it, if price stopps, get out fromd trade, take some profit and find another setup. Dont predict price, only react for what price is doing. This is to all new members to do not waste money and time for indicator. It would be great to do not open new threads with new indicator systems, because its useless.
  • #10
  • Nov 6, 2016 8:32am Nov 6, 2016 8:32am
It is a similar system to Ghostriders system...there he uses channels and this top low indi.... :-)
If this system fails GR also fails :-)
Vucking good EA coder... https://t.ly/AZjRM
  • #11
  • Nov 6, 2016 8:33am Nov 6, 2016 8:33am
Looks very very i nteresting! I was wondering if there is a Renko Indicator bar creator not EA so that we could create an EA!

I will start to test it manually next week.
  • #12
  • Nov 6, 2016 8:34am Nov 6, 2016 8:34am
Quoting reteid2222
It is a similar system to Ghostriders system...there he uses channels and this top low indi.... :-) If this system fails GR also fails :-)
I've seen GR's and this one honestly looks much more promising! But let's see the profitability ratio.
  • #13
  • Nov 6, 2016 9:37am Nov 6, 2016 9:37am
New idea coming up check it out and tell me what we can do to improve it
  • #14
  • Nov 6, 2016 9:43am Nov 6, 2016 9:43am
Thanks everybody, but i think we can still work around it. if someone can code an ea for this let see if it can worth pursuing.

Also, if we can use the resistant levels as take profit levels i think it will really work well because Renko easily spot those level better than traditional time based charts
  • #15
  • Edited 10:51pm Nov 6, 2016 10:30am | Edited 10:51pm
I would suggest to look at hidden divergence. It would filter out many bad trades during range periods.
  • #16
  • Nov 6, 2016 1:47pm Nov 6, 2016 1:47pm
i think if this strategy is to work ,it will better looking at trading from high time frame, i guess 4hr above will be a good place to study this strategy,trading it from lower time frame will only lead too many confusion and many false trading,higher time frame will filter lot of unnecessary trading.though am a new trader but am only giving my thought....am also gonna take time to study this strategy but i will be doing from 4hr or daily chart.
  • #17
  • Nov 6, 2016 10:52pm Nov 6, 2016 10:52pm
Quoting chamane
I would suggest to look at hidden divergence. It would filter out many bad trades during range periods.
Here are examples. They are not necessarily in a range situation, but the pattern works well with renko charts. It can be used to enter only on the cross of MA's when there is a hidden divergence pattern.

Attached Image (click to enlarge)
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  • #18
  • Nov 7, 2016 4:57am Nov 7, 2016 4:57am
Quoting dkarev
i think if this strategy is to work ,it will better looking at trading from high time frame, i guess 4hr above will be a good place to study this strategy,trading it from lower time frame will only lead too many confusion and many false trading,higher time frame will filter lot of unnecessary trading.though am a new trader but am only giving my thought....am also gonna take time to study this strategy but i will be doing from 4hr or daily chart.
Time frame has no bearing on renko charts. They are built off price only, not time.
  • #19
  • Nov 7, 2016 7:35am Nov 7, 2016 7:35am
All last week trade went well. USDJPY I BOOKED 100 PIPS THERE.
  • #20
  • Nov 9, 2016 11:34am Nov 9, 2016 11:34am
Hey fellow traders! I am new to the forum. Renko System looks good. I just want to ask how was it works on you guys?
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