How to change your Renko Chart? - Trading Systems

bigfoot1945 2011.09.15 04:55 #2061

Renko chart confusing?

generousforex:
This is how I trade renko, well that is like this system, and also

like some have mentioned here, breakouts. With renko its great

for breakouts because you can see price trade in boxes so easily

wait for it to break the box, above or below and your trend

indicators confirm.

Here is one trade from this am, price crossed easily below S1, trend was clearly

down, everything else agrees. Trend indicators agreed and my supporting

indicators. First line is entry, second is exit.

10 pip renko

GF

I am having difficulty understanding the Renko chart below compared to the time chart.

I have a thirty minute chart and Renko right beside it.

Some of the Renko bricks take anywhere from twenty or more 30 minute bars, some are only 5 bars, just about everyone one is different, so it is very hard to trade the Renko chart because you can get stopped out before you even see any real movement compared to the time chart. Is there not some way I can change these Renko bricks to be more consistant?

Files:

renko.vs.30min.chart.jpg 572 kb

Custom symbols Statements Moving Average - Trend

david mackay 2011.09.16 14:35 #2062

bigfoot

Check the manual at the start of this thread........ and in there he gives a list of things to confirm for entry. you have to follow some procedure for each entry to make sure that there is a valid entry.

Once experienced with this method you will start to sense which entries are the ones you want to make.

Best to start with the configuration in the manual and then start to get experience and perhpaps change your chart to use other indicators.

Hope that helps

Live Update - For MQL5 Wizard: Development of Handles and counters of

david mackay 2011.09.17 02:27 #2063

Bigfoot

I just had another look at your chart...... it is missing the two moving averages that you are to consider for entries ie ma5 on the high and ma5 on the low........ if you follow his directions in the manual re entries you will have less chop to deal with.

I think that may help you.

Awesome Oscillator - Bill Awesome Oscillator - Bill Relative Strength Index -

BigJoe 2011.09.17 05:03 #2064

bigfoot1945:
I am having difficulty understanding the Renko chart below compared to the time chart.

I have a thirty minute chart and Renko right beside it.

Some of the Renko bricks take anywhere from twenty or more 30 minute bars, some are only 5 bars, just about everyone one is different, so it is very hard to trade the Renko chart because you can get stopped out before you even see any real movement compared to the time chart. Is there not some way I can change these Renko bricks to be more consistant?

Don't try to compare the time frame chart with the renko chart. It don't works like this.

Put only your renko in front of your eyes. Renko is not time frame based : each candles appears after "X" pips.

If the price make a 100 pips move, and if you have a renko with 10 pips box setting, so you have 10 renko candles.

Request Execution - Opening Objects - Chart - Event - Graphical Objects

joshh 2011.09.20 17:09 #2065

could you send me the EA

could you explain more. iam interested. please

david mackay 2011.09.21 00:34 #2066

joshh:
could you explain more. iam interested. please

Go to the first page of the thread and download the materials and then read the thread

Trading is a self taught business, you are going to have to dig for information and learn at your own individual pace.

Questions about the MQL5 Close By - Trade Close By - Trade

[Deleted] 2011.09.21 22:32 #2067

Heiken Ashi Ma T3 Separate window

Was the Heiken Ashi Ma T3 ever made for a separate window ?

mladen:
Before continuing in that direction, some corrections (hope you do not mind

) Heiken Ashi Ma T3 has some errors in it :

When using the "classical" calculation MODE_HIGH and MODE_LOW are used instead of PRICE_HIGH and PRICE_LOW (which then uses values that are not ment to be used)
When calculating T3 values, values for internal T3 calculation (e1,e2,e3,e4,e5,e6) are not reset but instead the values from previous price calculation are used and that way the calculated value are NOT T3 (frankly, I do not know how would I call the calculated values)

Minor problem is for steps applied on 5 digit brokers (you need to multiply it by 10 to get same step values as for 4 digit broker) So, with default values of the indicator, it calculated steps for 1 pip and not 10 pips on 5 digit brokers

__________________________________

Attached is the one that corrects those issues (no arrows and no alerts in this one, but rather the indicator itself) Compared are the "old" one (on the first picture, with arrows, step set to 10) and the "new" one (with step set to 1 since it was compared on 5 digit broker)