Mr.Nims, Renko Ashi Scalping System. - page 183

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MACD BB looks good with renko charts/range charts.

Files:
bb_macd_cct.ex4  5 kb
 

What could be the problem ?

Hi All,

I would like to forward test "Renko pure candle auto-trading2 EA by Steve Hopwood" on Go Markets demo account, but when EA open a new position, TP will be 0 pip (instaed of 25 pip). What could be the problem ?

My setting is:

Lot=0.50000000

TakeProfit=25

MagicNumber=36204

TradeComment=RPCT

BarCount=50

RenkoBoxSize=10

CriminalIsECN=1

mis=----Odds and ends----

DisplayGapSize=30

Thanks,

viatoris

 

My 2 cents....

I've read all this very interesting thread from the very beginning and, after I've spent some time "tweaking" the system to fit my own trading style, I ended up with the template that you can see attached.

I would like to point the finger on some topic that seems (at least to me...) that are bugging lots of people here...

I would like to spend few word about the "infamous" entry after the 2nd brick; seems to be a kind of "late entry" because you suppose to "loose" 20 pips (for who is trading box 10 pips size). First of all you are not loosing anything 'cause you are not in the market yet; secondly often is better to wait a little before pull the trigger (you could facing a pulback, an head fake, a smart money movement, a news that you were not aware of, etc. there are million of reason that might move the market against you a no indicator on this planet can help you to prevent this.

Secondly, but this is only my point of view, I don't believe in EA to manage the trades or, even worse, to trade automatically.

My approach is pretty simple; first I'll look at the longer TF like daily and weekly to get the "bigger picture", to have an idea where the market is heading, after that I will pursue my entries basically trying to spot holding/breaking support/resistance, trend lines, fibonacci retracement, and, (my preferred ), divergences; macd and rsx specially are phenomenal for that!

HMA keep me on track regarding the minor trend and I trade only in agreement with the major trend (apart when I trade divergences),I want to see also price action around floating support/resistance gauged by the fractals channel.

When I'll find a setup that looks interesting I'll try to understand the instantaneous market sentiment analyzing the volume distribution (I strongly suggest you to learn something about volume spread analysis...) and if all the (my) conditions are met, jump in the market. I usually set a 30 pips SL (EU GU) and the target is not always the same, depend which type of entry I got; mainly i'll go for a 1:1 RR ratio so 30 pis, (I don't consider myself a "scalper", I prefer less trades but with a little more profit) if I'll get there I close half position, SL at BE and lets the profit run! I 'll trail the price following the recent higher low (for long) / lower high (for short) 'till stopped out.

By the way I want to say thanks to everybody actively participate in such great idea like this, mainly Mr Nims and all the others that have put time and efforts in development.

My 2 cents...

Best Regards

brax64

P.S.

Please forgive my "broken English", is not my native language...

Files:
renko_template.gif  75 kb
 

Hi brax64,

your template is very interesting.

Can you post us your template and indis ?

Thanks and regards

derumuro

Sorry for my bad english!

 

Hi derumuro,

thank for your interest but I don't know if I'm allowed to share my template because some indis are from advanced elite section (I'm a member) and another one is a commercial indi that I've bought and it have the account number hard coded.

I hope you understand, I don't want be banned first, and I think that it is absolutely unfair and unethical to reveal the hard job that persons like Mladen, MrTools, Igorad (just to mention some name and to renew my deep appreciation to them) are doing for the paying members and for all the TSD community.

If you are an advanced elite member PM me (I'll verify your membership before sending the indis).

Best regards

brax64

 
brax64:
I took this trade a bit later (I've a"regular job") 'cause I get home only now but I hope that this nice hidden bullish divergence in both MACD and RSX will work out positively... the retracement is 50%, trend is clearly up, there's also a discrete volume considering that we are during the Asian session so theoretically should have some chance of success; I'll go for a first TP with 1:1 RR (1st TP = SL) and, if i'll get there, I'll close half position and start trail the remaining.

To be accurate this trade should be entered at least the brick before.

Regards

brax64

Hi Brax64,

Just want to say very nice set up you got there two thumbs up!

 

Hi MrTools,

thank you, but I have to say that in this set up there's "your touch" aka the rsx indi, so if I got this it's also thank for your great job that you and the other guys are doing for us.

So my deep gratitude to you!!!

Regards

brax64

 

divergence trade....

I took this trade a bit later (I've a"regular job") 'cause I get home only now but I hope that this nice hidden bullish divergence in both MACD and RSX will work out positively... the retracement is 50%, trend is clearly up, there's also a discrete volume considering that we are during the Asian session so theoretically should have some chance of success; I'll go for a first TP with 1:1 RR (1st TP = SL) and, if i'll get there, I'll close half position and start trail the remaining.

To be accurate this trade should be entered at least the brick before.

Regards

brax64

Just to llet you know... I closed this trade at 1.3832 wit 10 pips profit after the 2nd bounce off 3850 level (grrrrr....); so the lesson to learn is: divergences are a good instrument but are not the holy grail (...like anything else in trading...)

Files:
eurusd_b_022811_2034.gif  66 kb
 

Very nice. And very clean there Brax. I may have to join Advance Elite just so I can take you up on having a better look at you setup. Thanks for the motivating pictures.

 
brax64:
Hi derumuro,

thank for your interest but I don't know if I'm allowed to share my template because some indis are from advanced elite section (I'm a member) and another one is a commercial indi that I've bought and it have the account number hard coded.

I hope you understand, I don't want be banned first, and I think that it is absolutely unfair and unethical to reveal the hard job that persons like Mladen, MrTools, Igorad (just to mention some name and to renew my deep appreciation to them) are doing for the paying members and for all the TSD community.

If you are an advanced elite member PM me (I'll verify your membership before sending the indis).

Best regards

brax64

Can you at least post all the indis names and settings for your setup,brax64 ? I know some of them,but not all ! And I am sure that you CAN post your template without the indis(or at least PM me with it ).

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