Mr.Nims, Renko Ashi Scalping System. - page 248
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Hi All,
I have the system on demo and it has some of the ingredients I trade on my live account. So the ideal situation to me would be to take the best of both worlds and improve my live trading.
The entry is clear, but I don't see much on the exit. So when to exit (both conservative and agressive)?
Did I miss something or is it still to be determined?
cheers
GGHi General,
The answer to your question is on this post.
https://www.mql5.com/en/forum/179557/page150
My best,
Nick
Autumn Started!
Monsoon ended, Autumn starting in India!
"The Difference between struggle and success is just one door! Struggle is one one side and success is on the other!"
I hope you find trading my way, trading the Renko brick by brick to your success!
some Indian Autumn Pics...
and a song to go with it too..
khuda jane - english subtitles - YouTube
@BlaiserBoy.. as promised I posted an Indian girl for you.. hope you like..
I'm going on drunken mode today, Holiday here in India due to Gandhi's Birthday!
Hello again and sorry, I was very busy. There is my system. I programmed the indicator Offs Mihailo.ex4, getting the values of the other indicators. All the necesary is on the .rar - I hope it will be helpful
NOTE: The template is on the .rar too. Just copy all the indicators on your MT4 folder and then apply the template.
Offs
offs_system.rar
EDIT: Forgot to say the arrows will appear on the current candle, but it need to be closed to buy or sell. For example if an a uptrend arrow its drawing on the current candle, its better to wait for the end of that candle, because maybe the price fall and then the arrow finally not drawn. In summary: Be patient and wait for the close of the candle, the arrows dont repaint when the candle is closed.
Hi Radatats,
Actually you can make gold your basic instrument on renko for your bread n butter profit purposes.
I think 10 pips may be too fast in gold, because 10 pips of movement isn't "solid enough" a move in gold to signify something, it can go 10pip or 20pip up or down in a minute.
Remember that $0.10 cents in gold = 1 pip
So $1 move = 10 pips
& a $10 move = 100 pips
The average daily range in gold is a minimum of $10 from high to low in a day, that's minimum sometimes it can go $50 to $100 a day, like the post where you showed you made 350 pips, was a $35 move of profit in gold price.
I recommend at-least $2.5 or 25pips worth of boxes with gold on renko, normal renko is recommended, but you can use the median one.
Median or Mean is somewhat of a hybrid between normal renko and range bar renko, so it may be prone to noise and fake setups, but it may be great for scalping purposes and early entry into trends.
My Best,
Nick
Thanks for the advice. I really only trade EURJPY and Gold. 10 pips is a tight box for gold but I also monitor regular 15m charts as a back up as well. I tried the mean renko and don't really like it for my purposes. I will stick to the regular renko. I am also adding another RSI technique for trade planning. 21 period RSI, use trend lines for breaks, look for a break of the 70/30 line and watch for next cross of the 50 line for trade. matches up well with MACD and Doda too...
doda is a excelent indicator for renko......i am trying to find another indicator other than macd ....help is accepted haha
Thanks for the advice. I really only trade EURJPY and Gold. 10 pips is a tight box for gold but I also monitor regular 15m charts as a back up as well. I tried the mean renko and don't really like it for my purposes. I will stick to the regular renko. I am also adding another RSI technique for trade planning. 21 period RSI, use trend lines for breaks, look for a break of the 70/30 line and watch for next cross of the 50 line for trade. matches up well with MACD and Doda too...
can help?
i have M2 chart. but can;t get doda indicator work?
Hi Joab,
-> Close your mt4
-> Copy the doda .mq4 again to your experts/indicators
-> delete the doda .ex4 file
-> delete the mqlcache.dat file
start your mt4 and check your custom indicators list, you should be able to see it.
Hope this helps,
Nick
Hello Banian, can you share your indicators/template? I have search and i dont find them. Very interesting template, congratulations.
Good pips all
Hello again and sorry, I was very busy. There is my system. I programmed the indicator Offs Mihailo.ex4, getting the values of the other indicators. All the necesary is on the .rar - I hope it will be helpful
NOTE: The template is on the .rar too. Just copy all the indicators on your MT4 folder and then apply the template.
Offs
offs_system.rar
EDIT: Forgot to say the arrows will appear on the current candle, but it need to be closed to buy or sell. For example if an a uptrend arrow its drawing on the current candle, its better to wait for the end of that candle, because maybe the price fall and then the arrow finally not drawn. In summary: Be patient and wait for the close of the candle, the arrows dont repaint when the candle is closed.Hi Offs, I installed it all. many thanks for your sharing...makes the Forex world a better place.
Could you in short explain to us how you trade it? as you said you are feeling Coral etc. is slow. so you improved. but what are your triggers? entry is after the close. and stoploss? or just wait for a reversal signal? would be very helpful to not only have your template and indicators. but also an indicator wiht your mindset and decision making proces. cheers GG