Mr.Nims, Renko Ashi Scalping System. - page 235
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Hi Normangee,
If your lucky to have a programmer friend as well as your planning to give a shot at this system.
I'd recommend first manually trade the system for a while, get the hang of how it works and also how you trade with it in different situations.
By then you should get some kind of an idea for the logical way of trading and you could perhaps suggest your ideas to your programmer to try and automate it.
Please let me and us know if it works on this thread. Good luck again!
Regards,
Nims
This is about as simple as I can get the chart so far
3 pip box
Hama
Ha Bars
Awesome Oscillator with alerts
There is a good amount of money to be made on this chart if you want to watch several pairs closely
Hey Mr.Nims, found your thread a few weeks back and got into scalping again and love renko. Will try it next week and post some results and see how it goes. Did you ever try to make an EA out of your system?
An Ea for Renko bars looks good and sounds good...... however, the structure of a Renko bar makes it difficult to develop a suitable EA. You will have to closely read about Renko bar construction and see that new bars are formed in a manner such that the past bars are uniform on the chart whereas there is variation until the new bar is printed..
Many have tried to build an EA for renko, few have succeeded long term.
Considering how simple it is to trade renko bars manually, it may actually be counterproductive to automate the trading.
There are few EA's in existence that can beat the performance of a Renko trader long term.
To see the potential of Renko trading....... have a look at the attachments on post 3 of this thread, download the attachments and observe the money management technique.....
This is easy money..!
Read through the thread and notice that different people have made 1,000 pips in a week, even 1,500 pips in a week.
To see the potential of Renko trading....... have a look at the attachments on post 3 of this thread, download the attachments and observe the money management technique.....
This is easy money..!
Read through the thread and notice that different people have made 1,000 pips in a week, even 1,500 pips in a week.Your Right about that!
66pips closed, just need another 34 pips to make a century for this Monday. I think the Aussie dollar trades may just do it! Being that there's no London session today, due to the banks closed for summer holiday thing.
Yesterdays AUD/USD trades hit stop-loss, but I've made it all back buying GBP/AUD this morning in profit and plus a cherry on top of the cake!
I think AUD/USD 0.9000 itself maybe turning into a resistance, I've seen on paypal exchange rates, they are already quoting 1 AUD = 0.87 USD.
Do we need to use PC with bigger memory if we will be using this renko strategy? It is freezing my mt4 after attaching the template.
It may be that your one minute charts are larger than they have to be. You might try a smaller size one minute chart....
Reset the chart size in options and then close MT4 and restart......
Depending on the renko box size you may need more or less data on one minute. you will have to experiment...
MT4 data is usually with holes......... so you may have to use 'Tickstory' to get reliable data for your one minute .
Good day today..... 100 pips by 3 45 am EST
If it gets any better my heart will stop, I think..
Thanks Mr Nims.... you have opened some doors with your method.
Thanks for your replies Nims and Blaiserboy. I will try it manually for sure, but don't have so much time atm.
Didn't know that the programming of Renko EA's is so hard, because of the easiness when you trade it manually. Also love KISS systems and will try the one you posted blaiser.