Mr.Nims, Renko Ashi Scalping System. - page 325
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Mr. Nims,
Please i am having some sort of challenges regarding the preferred box size, i want to use this medium to clarify my bias on box size.
whats the box size setting for the following; Gold, EJ, GJ, UJ, AJ, EU, GU,AU, NU, UCAD, UCHF, CadJpy.
Secondly, once macd is above zero line, do i trade irrespective of the colour. some times i see set ups to long with the MACD line showing red even above the zero line.
Lastly, if i have about 6hr every 24hr to trade, what the best time(GMT) to scout for my trades.
Best regards,
This is what it look like for my eurusd M2 offline..can anyone see if its correct? Renko box and time frame is as default, 10 and 2.
the macd green and red lines look weird and broken...
Mr. Nims,
Please i am having some sort of challenges regarding the preferred box size, i want to use this medium to clarify my bias on box size.
whats the box size setting for the following; Gold, EJ, GJ, UJ, AJ, EU, GU,AU, NU, UCAD, UCHF, CadJpy.
Secondly, once macd is above zero line, do i trade irrespective of the colour. some times i see set ups to long with the MACD line showing red even above the zero line.
Lastly, if i have about 6hr every 24hr to trade, what the best time(GMT) to scout for my trades.
Best regards,in addition to this , i would like to ask mr nims these questions as well...
must the wick o gram be on the green side for a long trade.?
for his example, let me know if i am right or wrong...
1) first red arrow: there will be no short trade because red candle is within the 2 MAs, macd remains above 0 line, wick o gram is green,
2) second red arrow, followed by a red candle which breaks beyond the 2 MAs, macd is red below 0 line, renkoAm is healthy above the red line...but the wick o gram is green ...so is a short trade here still valid?
thks!
Mr. Nims,
Please i am having some sort of challenges regarding the preferred box size, i want to use this medium to clarify my bias on box size.
whats the box size setting for the following; Gold, EJ, GJ, UJ, AJ, EU, GU,AU, NU, UCAD, UCHF, CadJpy.
Secondly, once macd is above zero line, do i trade irrespective of the colour. some times i see set ups to long with the MACD line showing red even above the zero line.
Lastly, if i have about 6hr every 24hr to trade, what the best time(GMT) to scout for my trades.
Best regards,Hi Endy,
First I'll write the settings you can use for Todays market condition, I change settings according to the market conditions from time to time, so take the settings for present market. I don't trade CHF and it's cross-pairs, so I won't write settings for that, but you can do some R&D if you want CHF.
EU, GU, AU, NU, UCAD, UJ, EJ, GJ, AJ, NJ, CADJ all on 7 pips box size.
EAUD, GAUD, ENZD, GNZD all on 14 pips box size.
Gold $0.70 for scalping, $1.4 pips for intraday and $2.5 for intra-week or position trading.
Second part, the MACD. It's basically just to show you the underlying trend as well as possible reversal of trends. When MACD is deverging from peak or converging from bottoms, it could be a start of a reversal/retrace and when MACD has flipped it means the trend has now changed. That's all it's real purpose is.
Third about the time recommendations. I'll write this in London GMT timezone.
London Morning to London Afternoon is best for
EUR GBP JPY GOLD
London Afternoon to London Evening + US Morning till US Afternoon is best for
EUR GBP JPY AUD NZD CAD JPY GOLD (Basically all pairs, commodities, Oil and stock indices)
London Evening to London Midnight + US Afternoon to US Evening + Sydney Morning till Sydney Afternoon
AUD NZD JPY and its cross pairs , Example EA GA Enzd Gnzd etc
London Midnight to London Morning (Asian Session)
JPY and its cross pairs
So you can fit your schedule of the day you can trade in London GMT and choose the best pairs accordingly.
Best,
Nick
for his example, let me know if i am right or wrong...
1) first red arrow: there will be no short trade because red candle is within the 2 MAs, macd remains above 0 line, wick o gram is green,
2) second red arrow, followed by a red candle which breaks beyond the 2 MAs, macd is red below 0 line, renkoAm is healthy above the red line...but the wick o gram is green ...so is a short trade here still valid?
thks!Hi Tanman,
The IINM arrows are just to show you possible reversal points, don't take it as a trade signal. It's just the 3 ma crossover arrows.
1st just told you market is reversing, so you can maintain caution with not going for a buy trade and/or wait for a nice sell setup.
2nd was a proper sell setup and breakout from the dual ma channel + Macd giving a good confirmation of a trend change and also flipped down.
Please note that the Wick-o-gram as well as the RenkoAM are not trading indicators but information indicators, I write all the details of what those indicators mean in the Manual so I won't write again. But you don't need it to confirm any trade.
regards,
N
Hi
sorry to bother but where can i find the 3.4 ea?
click on the orange 901 (near "reply to thread"). a new window opens. scroll down a little bit and you will find it.
click on the orange 901 (near "reply to thread"). a new window opens. scroll down a little bit and you will find it.
Is there a way of having an indicator that sends you an email alert each time a new renko bar is formed?
Is there a way of having an indicator that sends you an email alert each time a new renko bar is formed?
That would be a whole lot of emails lol