Mr.Nims, Renko Ashi Scalping System. - page 343
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Hi Maverick,
I liked your compounded interest quote.
I'll tell you something your missing on your adventure with the 9 TF's to feed renko and why you feel that TF's above m1 are better.
It's because anything above m1 is not going to give you the accurate data.
Lets say on the 30 mins chart, we have a candle that's 50 pips big and you took the price feed from that for the renko chart, lets take an example of 10 pip renko chart. So it will draw you a beautiful trend of 5 renko bricks.
But that's not really accurate, because it could have been if you went down into the m1 chart that the market went 20-30 pips, then reversed 20-30 pips and then went up 50 pips. Which would mean on the 10 pip renko chart, you would have 3 trends which would be the accurate reading, a 2-3 brick trend followed by a 2-3 brick trend in the other way and then a 5 brick trend the other way.
Another thing to note is that you need to have RenkoAM installed on your renko charts, or you'll never know whats a trend and what's a spike or a gap.
Regards,
NickHi Nick
Appreciate the feedback and the heads up for RenkoAM.
I hear what you are saying about unseen movement BUT isn't that just unnecessary noise we don't need and shouldn't be concerned about ?
The fact is it doesn't matter which TF you use for a feeder . . . They all get to the same place in the end. Yes it might take longer to get there but it WILL get there eventually.
Plus you don't see the price moving like a Yo-Yo
I'm thinking big TF small bricks to make getting out easier
Regards
Maverick1304
hello please help me..can you code arrow indikatör?
hello please help me..can you code arrow indikatör?
beco616161
You are flooding the whole forum with same post. Please stop doing that (flooding the forum with same post is usually a reason for a ban)
I trade all pairs, metals, some exotics like the Kroners and DAX.
Regards,
NickHi Mr Nims,
You said that you trade also the Dax; that's what I try to trade mainly.
I would want to test your system on this very volatile index: which sizes of boxes do you recommand and what is the average profit/stoploss in pips?
Thanks for your response and sorry for my bad english,
From Belgium, Phil4910.
Hi Phil,
First rule for DAX, don't touch it until 1 hour after Frankfurt opens (8 GMT) to let any fake breakouts or moves complete.
You can use 250 box size on DAX depending on how many digits your broker supports.
If your broker spread is 10 pip on DAX, use 250 box size. (if its 20-30-40 spread or so also)
If your broker spread is 100 pip on DAX, use 2500 box size. ( if its 200-300-400 spread or so also)
and so on..
Stoploss is double the box size.
250 box size , SL 500
2500 Box size, SL 5000
I don't recommend a TP, take anything more than 1 box of profit as you desire or if you want to hold for a certain price level.
This should be good enough to catch intraday as well as long trends.
Try to use a broker with 24 hour running price feed.
Instead of a broker that closes the DAX and opens opens It again next day in the session. Because if you have a broker that has price feed that stops at end of day and starts after Frankfurt opens, you will experiencing possible daily Gaps, which won't be good for renko trading on DAX.
It's good for Belgium, wake up to trade at 9 in the morning and finish up by 5 in the evening.
Regs,
Nick
Thanks for your quick reaction mr Nims,
My broker is IG Markets (five digits broker) and the spread on Dax is 1 pip so I put "25" in the RenkoBoxSize of the EA which means 2.5pips between the open and the close of the candle/box, if I understood well.
It's very fast when we know that this index take very often 10 pips in 1 minute or less (1 pip = +-5$ with 1 mini contract)!
I will try it on demo.
Regards,
Phil4910.
Hi Phil,
I think you need to correct it, we want the box size to be 25 pips not 2.5 pips, so adjust it accordingly on DAX.
Regs
My second successful system Holy Schmoly after Pedigree EA! Renko Avalanche has 3 versions. One buy and one sell and over 1.000 pips in pocked (20 pips bars).
Cheers Hermes
I like Egyptian pyramids! There is money in it. Ha, ha, ha...
Hermes
is there someone who is trading the free system of mr. nims and want to be a part of a skype group that we can match some good trades together?
just send me your skype name and i will add you