Mr.Nims, Renko Ashi Scalping System. - page 192
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Counter2
in this picture you see series of consecutive bars
7 down ,1 up, 1 down, 8 up,3 down, 4 up and so on
example: in the last 300 bars how often did we have a series of:
this example is less than 300 bars, only what you see in the picture
1 (means no consecutive bar) no matter up or down =6times
2 cons.bars (up or down) = 0
3 =4times
4 =1
5 =1
6 =0
7= 2( in this picture there is 2 series of 7 consecutive bars)
8=1
.
14=1
in the picture you can see, that you could have stayed in the uptrend if you allow 3 bars in the wrong/down direction
understand better now?
for the beginning a change in the indi that shows the numbers I put in manually would be great.Hello, here you are. But didn't really test them. It was late night and i was quite tired. Tell me if it works. Also, please share your strategy with us.
EDIT: It is an EA, so put in the expert folder.
Guys how do I change the alerts, i want to be alerted when a fractal is painted.
I also want to disable the new candle alert as it's annoying.
OOKK LET forget it . As you were asking that 80% chances question , its not true . Remember , every brick is not trade able because any exit strategy don't work that way . Trading every brick will create a lot of losers . i have solved that problem. You will see soon what I mean.
Sub, I'm waiting for your sharing. I've been tempted by your sentence HOLY GRAIL.
Guys how do I change the alerts, i want to be alerted when a fractal is painted. I also want to disable the new candle alert as it's annoying.
- Just delete your newcandlealert.ex4 from your indicator folder.
- For the fractal alert - Open the fractals.mq4, find for "ObjectCreate() ". Right under it put something like
Hi,
Im new to forex and have been setting up a system based on renko. Been demo trading today and have made 220 pips using a simple 50 pip bricks. Im using a new brick colour and fractals for entry and exit of positions.
Im also using ADX to for quick view of whether the market is trending or ranging. If the market is ranging i avoid renko trading, as i would incur severe loses.
Im confident iv'e been running well today, as i know i require to tweak my setup and create a money management system.
How are you coming along with your 50 pip bricks? What's SL are you using? I'm still experimenting with the default 10 pip bricks.
Hi Marley,
Basically what I'm saying is you need to be mindfull of regular technical analysis when trading the Renko. For example in forex if you see a ranging market that has tradeable swing hi's and lo's, once support and resistence is confirmed by renko then you should take these small trades as they ALWAYS break out eventually. Once the breakout happens you are already 10 - 20 pips up as you pass the breakout event line.
I know a lot of other people say what's the point in trading a ranging market for B/E but if you are in the trade already on breakout if it reverses then you are not going to get faked out and stopped out.
The good thing about renko is it keeps you out of totally flat markets (depending on your brick size). Brick size is down to the individual, I've read this whole thread and there are guys busting out 50 pip bricks. Take note that flat and ranging are too different things in my book. A flat market is something that eats you up in spreads, a ranging market is a boring and predictable range with swing hi's and lo's. Boring because little money is made whilst in the range.
I know this sounds like a cop out but really trading strategy is a personal choice. Renko puts us on the right track but it's upto you to choose your personal best settings.
Trading naked really is the way to go with Renko.
I don't have any templates or indicators to post up, I'm just using the template offered on the first page and only observe the bricks and fractals, I also take note of market direction, for example in an uptrend I'll take more buys than sells.
I only trade trend reversals, if i see a mega trend no matter how good it looks I will not get in the trade if I didn't initially get in on the reversal.You mentioned "my book". Did you mean that you wrote the book? If yes, please let me know the title of the book.
You mentioned "my book". Did you mean that you wrote the book? If yes, please let me know the title of the book.
Not quite sure what you are talking about here. I'm using the system posted at the beginning of this thread, Mr nims renko scalping system.