Mr.Nims, Renko Ashi Scalping System. - page 45
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Hi
Indicators
HI,
I wonder if do you have Renko Alert ?
thanks for your reply,
David.
Hello KingHigh,
You mentioned that you have your own Renko Chart tester. Is that something you can share?
Regards,
Jeff
Hi All,
I think the Fractal Channels look very promising as they are great for filtering out bad trades using Support and Resistance from the Channel.
BuTTT --- You have to be very careful in using the indicator based on fractals since the data is only fixed from repainting on bar 2 or 3. So trading decisions can not be made on bar 1 or bar 2 since the fractal signal is not fixed yet.
On the otherhand, my real interest is the filtering that is provided. Using the Fractal Channel, I believe that entry is obvious, but exit must have two empty bars, before a reversal can be guaranteed. This is still not bad considering the number of bad trades that are filtered out.
I have my own Renko Chart tester and i will be getting back to you when I have data.
KingHighFXchaser
Just wanted an update...how is your fractal setup working for you
and how are you using it for your entries?
GF
Wow you read my mind some how. I am testing a similar strategy. I am using 5 pip Rengo bars with RengoLiveChart v3.2
FractalChannel.mq4
FractalChannelh.mq4Just wanted an update...how is your fractal setup working for you
and how are you using it for your entries?
GFYes I am using it for my entries but using it with the Renko is tricky. Just like anything else, if there is no trend then it eats into your profits. Even when there is a trend, it gets you in sometimes way too late. Will back test a little more but I am starting think that the Renko charts beg to be naked!
Platform shutsdown on indicators install
I guess u didnt get the correct extension file for your platform. Check to see if the extension files of your platform is compatible with the indicators you downloaded. Else reinstall your platform and paste the indicators in the indicators folder afresh. I hope this helps, keep making money, 4real!!!
Demo Test of Renko Fractal v1.0beta
Demo Test of Renko Fractal v1.0beta
MT4Live.com - Share Your MT4 Statements Free
You can also found my version of the system and the live stat in my signature.
264pips won testing on day 1
Start a new thread?
Lordsfxt and others,
This thead is becoming less about scalping a Heiken Ashi Rengo chart so maybe it is time for a new thread with a appropriate title like experimental Rengo trading systems or something like that. Lets leave this thead for the HA Rengo scalpers....
Like to see what develops. Mr. Nims where are you? Hows the HA Rengo scalping going?
Hey FxChaser,
About your setting, you mentioned 5pip renko bars and using the fractal channel, which i presume is that your waiting on a breakout from the channel to make your entries.
I'd like to suggest that 5pip renko is too fast, i also find 10pip renko too fast. its prone to fakeout and too much noise.
The setup i have shared is a 25pip solid renko bar with fractal alert and support and resistance indicator. I only take the fractal alert trade if and only if the support or resistance also appears at the point of the fractal.
5pip is almost close to the spread of most pair, and the whole point of renko is to eliminate the noise of time and show price action chart right?
Try with 10-25pip renko bars and see it should be less signals , maybe not all the pips of market like scalping, but you definetly get the safest and surefire trades.
I am just aiming for 2000pips a month trading with 5% of my balance, thats a 100% gain a month. I just want to repeat this 100% monthly for 8-10 month so i have half a million
BTW, i still use 50pip renko vs 10pip renko Heiken Ashi trend follower system too, that's made me 500-1000pips a week since the past 6weeks i have been following this thread.
Goodluck and safe trading Yo!
Example
Example of trade.
thanks lordsfxt,for ur Renko Fractal strategy.awesome trading system..entry rules r clear.r u using a fixed TP,TS or r u waiting for another Fractal/support resistance for exit??whats the best exit strategy?