Mr.Nims, Renko Ashi Scalping System. - page 193

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leerees:
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.

Hi leerees,

I see what you are saying about range bound trading,,,, waiting for s/r to be confirmed and entering on the reversal. I am glad you point that out to me as I am only used to seeing the break outs and entering after they occur.

but by entering on the reversal at the confirmed s/r, I would be getting in allot earlier if break out occurs on the opposite side of the range,,,, rather than entering after a break out and getting in the move late.

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What is your exit strategy when a break out does not occur?

I mean, you will still be in profit even if a break out does not occur, but the only way to tell if a breakout does not occur is an opposite colored brick, and by that time it has reversed 20pips (10pip renko blocks)

do you use a break even stop?

thanks for your help

 
superblacksmith:
It does not execute orders. You could copy the codes and make it as an indicator. It's just that i happened to create it as an EA. It is still pending probably because no moderators are online.

just tried it as an EA - nothing happend

made copy&paste to indicator, compiled it , attached it to chart-nothing.

when I click on "indicators" its not there

Files:
counter3.mq4  3 kb
 
marley60:
just tried it as an EA - nothing happend

made copy&paste to indicator, compiled it , attached it to chart-nothing.

when I click on "indicators" its not there

First of all, you cannot just simply copy and paste. I recommend you to use the wizard to create an indicator. I will make the indicator when i have time.

One more thing, it will only work when there is a tick (when market opens). If i have time, I will later try to make an indicator which works on all conditions, market open, close, tsunami, or whatever.

 
superblacksmith:
- 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

Alert("A New-Awaiting fatal has formed ", Symbol(), " On ", GetTimeFrameStr()); PlaySound("Alert.wav");

cheers, I'll give that a go.

 
kinjaheed:
Hi leerees,

I see what you are saying about range bound trading,,,, waiting for s/r to be confirmed and entering on the reversal. I am glad you point that out to me as I am only used to seeing the break outs and entering after they occur.

but by entering on the reversal at the confirmed s/r, I would be getting in allot earlier if break out occurs on the opposite side of the range,,,, rather than entering after a break out and getting in the move late.

-------------------------------

What is your exit strategy when a break out does not occur?

I mean, you will still be in profit even if a break out does not occur, but the only way to tell if a breakout does not occur is an opposite colored brick, and by that time it has reversed 20pips (10pip renko blocks)

do you use a break even stop?

thanks for your help

my exit strategy is basically to get to break even and then set a trailing stop.

 

Guys we should setup a seperate thread for calling out trades based on renko.

Anyway here's my trade for the day

Short EUR / USD @ 1.4208, already 8 pips up, SL moved to BE. Trailing stop from BE set to 15 pips.

 

trade stopped at +15 pips.

btw this forum is a royal pain in the arse, the search function is useless and you have to keep logging in every 15 minutes.

 
superblacksmith:
First of all, you cannot just simply copy and paste. I recommend you to use the wizard to create an indicator. I will make the indicator when i have time. One more thing, it will only work when there is a tick (when market opens). If i have time, I will later try to make an indicator which works on all conditions, market open, close, tsunami, or whatever.

I was testing the EA today, but the only thing that happened was that cpu-usage jumped up to 100%-I had to disconnect from the internet in order to remove it.

 

What fractals indicator and what are the settings?

Hi, I was just wondering what fractals indicator people are using with the renko charts and what are the settings??

 
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