Mr.Nims, Renko Ashi Scalping System. - page 126
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signals appear at the close of the bar...after the big initial move
Entry/ Exit strategy
Orinin/Nair,
lets try to stay objective here.
the best pairs I have used renko with is GU, EJ, EU. all at 10 pip renko brick size.
the limitation is that it eats up a lot of pips before you get into the trade. 20-40 pips are lost when any indicator shows you to enter. you can only enter on the second brick of renko with ANY indicator. that is the limitation of the current renko setup using 3.2. if you look across the board there are other ways of rewriting the presentation of renko so it does just give you 10 pip bricks.
when talking about an EA you have to look at these limitations.
even when trading manually...
so the advantages of renko on a 10 pip renko brick size get lost over price/time (normal charts in metatrader) due to the 20-40 pip loss of late entry.
now can we have a discussion about how you have overcome these problems and are making a profit with this system?
as stated i want to see this system on its own with your chart entry and exit points bearing in mind the earliest you can get in is the second brick in any indicator instance.
objective discussion please.If you read tru this thread from the beginning, this issue has been brought and answered before.
Just give you some idea, of course you will only be able to enter at the second brick but doesnt meant that you will need to loose 20 to 40 pips. You may change the brick size to 5 instead of 10. In this case you will only sacrifice 10 pips.
But pls understand the whole renko logic. Even with the ordinary chart, you will not jump immediately everytime the chart change its direction, you will still need a confirmation of the trend right? and may be it will cost you even more pips.
Ea
Hello orinin
did u get to see my system I privately messaged you, I seek your ardent support.
Hope you would help me with that .I have posted a request here above in this forum too and replied just above your post.
Though I am new to renko my need for dollars is tooo high ., hence I seek ur vital support for this .
It would help me if u shoot a pm to me., instead of shooting me by silence.
regardsYou are such a rushing to get rich.
Honestly your strategy is not as per what you are claiming as holy grail setup in forex factory.
Sorry, I did try to write EA based on that but is not really giving you as good as trading manually.
May be some other guy will.
Sorry.
Additional Confirmation or Filter Perhaps
Sometimes, I use the constant bar size renkos (3 bar) as a secondary confirmation and or filter in conjunction for entries on the 1 minute timeframe. And it works well with certain indicators.
You can test it out with your favorite indicator and hopefully it can help you reduce fakeouts. May all the ardent people here make a lot of money this year (2010) and peace, love and happiness on valentines day everyone 
but this is what i am getting at, with version 3.2 surely it can be improved? have you read what painless has written here?
https://www.mql5.com/en/forum/173622
that is what i am getting at, i shouldn't have to change down to 5 pips i want to stay with 10 pip bricks but actually have 10 pip bricks.
If you read tru this thread from the beginning, this issue has been brought and answered before.
Just give you some idea, of course you will only be able to enter at the second brick but doesnt meant that you will need to loose 20 to 40 pips. You may change the brick size to 5 instead of 10. In this case you will only sacrifice 10 pips.
But pls understand the whole renko logic. Even with the ordinary chart, you will not jump immediately everytime the chart change its direction, you will still need a confirmation of the trend right? and may be it will cost you even more pips.By respect for Mr.nims,Orinin and all the others members,for their time and
work ,keep your negative opinions for yourself
with respect
danI, also, put a lot of work into this, as those who were members of the chat room know. The disadvantages of the way this Renko system has been compiled have been pointed out very clearly by Mr. Finley.
For instance, 19 pip tails on a 10 pip brick size is just one of the anomalies that it throws up. It isn't the HG, as one unfortunate member found out when he blew his trading account in just over a month.
This may prove to be a brilliant system, eventually, but, at this moment in time, it needs some reconstructive surgery!!
trading with renko - entries
Orinin/Nair,
lets try to stay objective here.
the best pairs I have used renko with is GU, EJ, EU. all at 10 pip renko brick size.
the limitation is that it eats up a lot of pips before you get into the trade. 20-40 pips are lost when any indicator shows you to enter. you can only enter on the second brick of renko with ANY indicator. that is the limitation of the current renko setup using 3.2. if you look across the board there are other ways of rewriting the presentation of renko so it does just give you 10 pip bricks.
when talking about an EA you have to look at these limitations.
even when trading manually...
so the advantages of renko on a 10 pip renko brick size get lost over price/time (normal charts in metatrader) due to the 20-40 pip loss of late entry.
now can we have a discussion about how you have overcome these problems and are making a profit with this system?
as stated i want to see this system on its own with your chart entry and exit points bearing in mind the earliest you can get in is the second brick in any indicator instance.
objective discussion please.Hi, I think Francis finley raises some interesting points about renko trading. Renko looks good when the market is trending but can be difficult to trade in ranging markets. This is the same problem as for normal price bars.
I have attached an example of an entry strategy for entering renko trades on reversal that gets you into trades early as part of a trend continuation without waiting for the 20 or so pips or two blocks to occur
This is based on taking a 10 pip target that includes spread
Using a conditional entry can work well if you are paying attention.
In ranging markets my suggestion is to stick to pairs with sufficient movement and scalp. These seem to be EJ and GU. EJ is my favorite.
In my example attached I don't take each trade expecially around change of direction. I wait for direction to get set then take pull backs. I have found a cross of the 2/5 or 2/7 ema is enough usually to confirm direction. The gann and qqe work well to avoid many poor entries.
regards
Peter
just to show what i am talking about open up a renko 10 size on EU. look at yesterday afternoon....
1 brick goes from 1.3578 upto 1.3610 im sure you can do the maths... the advantages in the system are lost as you would have got in on a price time chart a lot earlier with your indicators.
the production of bricks definitely needs improving.
This may have been talked about before but it certainly hasnt been answered.
just to show what i am talking about open up a renko 10 size on EU. look at yesterday afternoon....
1 brick goes from 1.3578 upto 1.3610 im sure you can do the maths... the advantages in the system are lost as you would have got in on a price time chart a lot earlier with your indicators.
the production of bricks definitely needs improving.
This may have been talked about before but it certainly hasnt been answered.Do you use the official s-renko bars or the other one?
If you have problems with renko charts, go back to the normal, time frame based, charts. For me, personally, fits renko (I use the official version) well. More comfort --> more confidence --> more success.
MACD cross, Orininline, QQE adv, KG wave trigger are my filters + triggers.
Take care,
GrZack
I have attached an example of an entry strategy for entering renko trades on reversal that gets you into trades early as part of a trend continuation without waiting for the 20 or so pips or two blocks to occur
hi, can you attach indicators & template please?