Mr.Nims, Renko Ashi Scalping System. - page 12

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generousforex:
All the best.. take care Pava.

Namaste'

B

You should go ahead and fight for freedom and decency in your country instead of trying to throw a punch at me over here...shoot someone tonight

 

ShawnC

And anyone else wanting smaller stable profits, I would recommend

focus on just the majors without the yen crosses, just less volatility

eur/usd, gbp/usd,usd/chf, usd/cad are some suggestions

to stick to. The yen crosses, IMHO work great with this

basic system but the others are even smoother lets say

to grab your small pips and move on your day.

Someone else asked about false signals, two easy things

use your probability meter if you have it to help you

and also wait for the signal bar to close and then price

action to go 2-3 pips further in the signal direction before

you enter...

Also, I use momentum, you can play around with any momentum

setting you like, 4 6 10, etc... but personally I only take trades

when the mom crosses my benchmark level the same

bar as the signal bar or during the bar right after

when I enter, it cant have already crossed and be

above my level before. Helps reinforce the move

is current momentum in your direction.

Brian

PS Pava Peace and good fortune to you

 

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Stop Loss strategy

Lordsfxt... a big thank you for sharing the refinements to this strategy. I love the simplicity and economy of this.

I use the MT4 setup as my entry exit template... but do the actual trades on Oanda... due to low spreads and percentage base margin entries (much easier in my mind than lot style trading!!)

Question for Lords... what stop loss strategy do you employ with this system.

And... more or less what is the percentage of winning trades you achieve with this.

Many thanks in advance,

Tim

 

hey guys this is my first post here I don't want to disappoint you but what you guys call to be a renko chart in fact it's not. may be is it a derivate from the real renko chart.

A renko chart is constructed by placing a brick in the next column once the price surpasses the top or bottom of the previous brick by a predefined amount.

for a better understending of renko chart I suggest you to look in steve nison book.

Renko charts have a pre-determined "Brick Size" that is used to determine when new bricks are added to the chart. If prices move more than the Brick Size above the top (or below the bottom) of the last brick on the chart, a new brick is added in the next chart column.

prices may exceed the top (or bottom) of the current brick. Again, new bricks are only added when prices completely "fill" the brick. For example, for a 5-point chart, if prices rise from 98 to 102, the hollow brick that goes from 95 to 100 is added to the chart BUT the hollow brick that goes from 100 to 105 is NOT DRAWN. The Renko chart will give the impression that prices stopped at 100 in this situation.

a real renko chart will look like this (see below chart),if someone can redirect me where I can find one it will be helpful

thanks!

Files:
renkoexample.png  9 kb
 

You can load the attached EA on a 1 minute chart and make the box size you want in the input section.Make the Renko Time frame any time frame but try to avoid the same numbers as the mt4 charts and other renko timeframes which you already use. In the common section of the EA put ticks in

Enable alerts,Allow live trading,Allow DLL imports ,Allow import of external experts.

After you loaded the expert go to File -Open Offline and than open the chart with the number you use for the timeframe in the EA. Your chart should look like the picture I attached The EA is from Forex Factory

Files:
renkolivechart_v3.0.mq4  12 kb
renko_chart.gif  39 kb
 

Not hard

Not hard... I apologize, but its not hard. It is real renko, 5 or 10 tic

size depending on your trading with HA over it to help confirm trend.

GF

triger88990:
hey guys this is my first post here I don't want to disappoint you but what you guys call to be a renko chart in fact it's not. may be is it a derivate from the real renko chart.

A renko chart is constructed by placing a brick in the next column once the price surpasses the top or bottom of the previous brick by a predefined amount.

for a better understending of renko chart I suggest you to look in steve nison book.

Renko charts have a pre-determined "Brick Size" that is used to determine when new bricks are added to the chart. If prices move more than the Brick Size above the top (or below the bottom) of the last brick on the chart, a new brick is added in the next chart column.

prices may exceed the top (or bottom) of the current brick. Again, new bricks are only added when prices completely "fill" the brick. For example, for a 5-point chart, if prices rise from 98 to 102, the hollow brick that goes from 95 to 100 is added to the chart BUT the hollow brick that goes from 100 to 105 is NOT DRAWN. The Renko chart will give the impression that prices stopped at 100 in this situation.

a real renko chart will look like this (see below chart),if someone can redirect me where I can find one it will be helpful

thanks!

 

Hi Guyz,

If you know this system uses a heiken ashi over a price bar chart (renko) so i have been messing around with a heiken ashi EA just to test if i can automate this. Here are the results for one day, also attached the EA

But i have some problem with the EA, because it will repeatedly go long or short on color change, so if a single bar would have heiken go red/blue over and over, it would do enter and exit over and over. I wish if someone can fix this such that it only takes a trade after the bar has closed and color of heiken is closed and take a trade instantly on the new bar.

 
lordsfxt:
Hi Guyz,

If you know this system uses a heiken ashi over a price bar chart (renko) so i have been messing around with a heiken ashi EA just to test if i can automate this. Here are the results for one day, also attached the EA

But i have some problem with the EA, because it will repeatedly go long or short on color change, so if a single bar would have heiken go red/blue over and over, it would do enter and exit over and over. I wish if someone can fix this such that it only takes a trade after the bar has closed and color of heiken is closed and take a trade instantly on the new bar.

WOW, very nice result !!!

 

What are the settings you are using for the EA? Can you go over them please?

Shawn

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