How to use Renko Chart and Tick Generator Tool? - Trading Systems

zit 2012.09.12 20:28 #2191

EA Renko_LiveChart_v3.3_Labels + Tick Generator Tool

EA Download: 0-renkolivechart_v3.3-labels.mq4

EA Chart (M1) - See Inputs Window for more label and font size options.

Renko Chart (M2, M3, M6 etc)

Installation instructions - HERE - scroll down to postfile45

Tick Generator

EAs are tick dependent and if ticks are not happening the associated offline chart will not respond to new EA settings or update bar history. The below Tick Generator Tool solves this problem - also helps in normal hours.

FREE Tick Generator Tool - (professional, not referral bs, and no spam)

Files:

0-renkolivechart_v3.3-labels.mq4 19 kb

rnk-1.jpg 13 kb

rnk-3.jpg 14 kb

MetaTrader 5 for iPhone Real and Generated Ticks Custom symbols

AnthonyT T 2012.09.19 02:21 #2192

"Please note that you must only take trades. (Which i have missed to mention in the manual clearly)

Buy - When macd is above 0 level and all conditions met as per the rules in manual.

Sell - When macd is below 0 level and all conditions met as per the rules in manual."

Hi Mr.Nims, have just read the above on page 1 which I hadn't seen before.

So where the manual says "Make sure the MACD is flipped ... " it is actually saying wait till the MACD is above/below 0 level?

In many cases this leads to delay in taking the trade, even though it does allow a safer more conservative style. The delay in some cases leads to being stopped out. But it does allow to take very good trades with the trend.

Please comment as I am trying to understand the system as you implement it.

Regards,

Anthony

How to Subscribe to MACD - Oscillators - Trading Principles - Trade

ndsouz1 2012.09.21 12:31 #2193

Euler:
"Please note that you must only take trades. (Which i have missed to mention in the manual clearly)
Buy - When macd is above 0 level and all conditions met as per the rules in manual.

Sell - When macd is below 0 level and all conditions met as per the rules in manual."

Hi Mr.Nims, have just read the above on page 1 which I hadn't seen before.

So where the manual says "Make sure the MACD is flipped ... " it is actually saying wait till the MACD is above/below 0 level?

In many cases this leads to delay in taking the trade, even though it does allow a safer more conservative style. The delay in some cases leads to being stopped out. But it does allow to take very good trades with the trend.

Please comment as I am trying to understand the system as you implement it.

Regards,

Anthony

Hi Anthony,

Yes that means when MACD is above or below Zero Level. Mostly the rules are for newbie traders.

But more advanced and experienced traders may simply just need to take trade when the MACD starts to show divergence to buy from bottom of MACD or Sell from the Top of MACD and when all the other chart conditions have met.

Regards,

Mr, Nims

Off-Topic

Hey Fellow Traders,

I've just discovered a broker that I am probably going to completely switch to from now.

It's got all the wonderful trading conditions for me and especially for Renko charting.

As you know Renko charting entirely depends on the 1 Minute data history your broker can supply.

This is one of the many of those kind of brokers that supply ample 1 Minute chart history, especially useful if your into position trading or need to analyze the market history on renko charts.

They are providing almost 2 months and plus of minimum 1 minute chart history.

Also in addition to that, All the superb things you need in a broker.

1:888 Leverage

Micro Accounts (1 standard Lot = 1000 units (or $10(0.01) trade)), So you may be able to go down to trade a dollar or even down to trading 0.10 cents!!

CC, Bank-wire,Moneybookers, Webmoney, LibertyR modes of deposit and withdrawals.

Has all the Majors, Minors, Cross and a few Exotic FX pairs to trade with tight spreads!

USDDKK spread is less than 10pips!

Has Gold with tight spreads and US crudeoil with 4 to 5 spread an no commissions!

Has American & European Stock Indice Futures pairs with spreads as low as 1 pip without commissions!

ECN/STP available and is Fully Regulated with FSC, MIFd, EU and also a number of European country regulations.

Is listed also officially as one of the "Preferred Brokers" on forexfactory.

Excuse me for acting as their sales guy, but I'm really excited to be heading there and I wish you guys also would, all the great conditions for a renko trader!

Here's a result of this weeks "Test Trading" on the Live account with them. This was just for testing execution, Server speed, Spreads, Re-quotes and Price Feed. It's all fantastic and there's no dirty tricks the broker plays with clients.