Mr.Nims, Renko Ashi Scalping System. - page 83
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Why Not Keep it Simple?
OK guys, I have a question: why not keep it simple? By that I mean, if you look at any Renko (10) chart, it shows that you could buy anytime you have a blue bar, and sell any time you have a red bar, and make a killing. No other indicators needed, no multiple time-frames, just the renko bars.
Now because it looks so simple that usually means I'm missing something. So what am I missing?
If you open a 1H GBP/USD and put "RenkoFX" custom indicator on the chart, you see perfect trends (with a few mixed bars) that would net you hundreds and thousands of pips simply by buying blue and selling red.
So, who can help a Renko-Newbie understand how these bars are drawn and why it would not make sense to keep it simple?
You can check the links in the included pdf. They are made by the signature michal. As you see, backtesting without wicks makes no sense at all.
LOL, from the pdf it looks like just a plain 10pip renko chart with a standard MACD indicator is all that's needed to rake pips from renko system.
Hi I am kind of confuse, what would you recommend? Renco scripts or renco indicator?
Regards
Hi I am kind of confuse, what would you recommend? Renco scripts or renco indicator? Regards
The Renko EA 3.2 is the best.
sfractal EA
Is there any sfractal EA outhere than we can use to trade lordsfxt's template? thx
LOL, from the pdf it looks like just a plain 10pip renko chart with a standard MACD indicator is all that's needed to rake pips from renko system.
What happened to your system? Do you remember posting here that you were making thousands of pips per week with this scalping system? Then I saw you post that Renko is not a good scalping method.
Remember when you posted that you finally "had hope that this would be your system for life"?
From thousands a week to not a good system? I'm just curious what happened to your trading.
Hi ORININ ,
What is your best setting for below indicator :
BB MACD : is it 12,26,9 ?
Riskyachtar : is it period 10, price 0?
RSI : period 21
BigTrend : is it 80,3,0?
Thanks!
Hi Kerty,
I am using default setting. It tells me when the price retrace or change its direction.
Just for sharing (not to show up), Just follow the sfractal & SnR, no matter what trend, Good enough to give U profits. I have tested them and the result give you 90% - 95% winning trade.
Dont ask me to post my result here, just do the following and see by your own eyes:
1. set you 10pips bar renko on 1m TF
2. attached tpl as per LordFX version on 10M TF offline
3. Add Tup and BigTrend
4. Attach BB MACD and riskyachter as filter
5. Short/Long when alerted by sfractal (confirm with RSI 21)
6. Use 1.00 as your contract size in trading
7. Cash your profit and enjoy.
For me no more additional indicators needed in this thread. No more..No more..
Is the time to show how much you make or how many pips you close rather than keeps giving funy very funy idea that just will make your chart so messy.
One again, 10pips bar, 10M TF and the tpl given by LordFx are the edge of your trading system searching, very perfect.
Learn how to master that system:
- How to use this system
- When to use this system
- When not to use this system
LordFX, Thanks for your entire contribution in this thread. For me, you has changed my trading approach and triple up my income. You know what, I trade for a living..
OrininHi I am kind of confuse, what would you recommend? Renco scripts or renco indicator? Regards
As the Lord already said, you should use the EA ver 3.2 for trading and forward testing.
But for backtesting of any EA, you must use the script version.
But then, only a script where the renko blocks have full price information, i.e. with wicks, makes any sence in backtesting. You can either buy the commercial script for that, or use version 1.7 provided above.
As the Lord already said, you should use the EA ver 3.2 for trading and forward testing.
But for backtesting of any EA, you must use the script version.
But then, only a script where the renko blocks have full price information, i.e. with wicks, makes any sence in backtesting. You can either buy the commercial script for that, or use version 1.7 provided above.Yes, Use the EA on live market and use the script to backtest on simulator or to plot chart on the weekend, because EA will not feed data to chart unless online chart move, but script will feed data even on weekend when chart is not moving.
What happened to your system? Do you remember posting here that you were making thousands of pips per week with this scalping system? Then I saw you post that Renko is not a good scalping method.
Remember when you posted that you finally "had hope that this would be your system for life"?
From thousands a week to not a good system? I'm just curious what happened to your trading.See, renko is a great trend follower system, whether your using on 5point or 25point renko. The basic feature is to cut the noise of timeframe and show the price action in a readable trend.
Whoever is making money from renko, is making money from trend. whether its a minor trend using a 5point renko or major trend using 25 point renko.
I have further developed the renko ashi 2.0 which i posted several weeks back, much much better than what it was. Very simple setup.
I'm in a phase right now where i can see even more pips. Will be forward testing live this week before i post it.
Features like.
Knowing the absolute trend, so that trader will trade in one direction until the trend changes.
Knowing how much time each renko candle took, because if the renko candle closes in less than a 1minute it is probably not a tradable opportunity, because sometimes a sudden 30-50pip move. it would show a trend, but reality is that it was not a tradable scenario.
And lots of stuff. Will keep everyone posted once im done testing it this week.