Best indicators to work with Renko Charts
Hi All,
I've just began trading with renko charts and was wondering if anybody has some good success with specific indicators on with Renko. Since most of the time series based noise gets eliminated with Renko charts, the indicators should be more smoother.
Best Regards,
ChyrenI use Renko with nonlagdot indicator, so far is good and make profit to me
try this...set # of bars to 500...you need SSA dll in library...indicator recalculates but gives a picture that can be used...sorry only ex4 file...
here mq4 file...if it can be made work faster...would be nice...it's heavy on comp...
My last post on this thread was two years ago...see above.
I still trade renko blocks, & I still wander the forums looking for the holy grail!. The difference is it's for fun, I now know I always had the holy grail.....my eyes.
I'm retired now, & make a six figure income from forex trading. The trick is easy, forget the 1 min chart that you are told to put the renko indicator on....go for a weekly chart & trade drawbacks. It works.
My last post on this thread was two years ago...see above.
I still trade renko blocks, & I still wander the forums looking for the holy grail!. The difference is it's for fun, I now know I always had the holy grail.....my eyes.
I'm retired now, & make a six figure income from forex trading. The trick is easy, forget the 1 min chart that you are told to put the renko indicator on....go for a weekly chart & trade drawbacks. It works.
Trend is the master and looking for trend on lower time frames is what newbies always do wrong - lower time frames are noise - not trend
:) Trend is the master and looking for trend on lower time frames is what newbies always do wrong - lower time frames are noise - not trend
Too true. I still have a secret snoop around for the holy grail.....I know there's no such thing, but you never know!!
KISS is my watch word, & Renko trading couldn't be simpler.
Too true. I still have a secret snoop around for the holy grail.....I know there's no such thing, but you never know!! KISS is my watch word, & Renko trading couldn't be simpler.
Jeeves, I enjoy trading renko as well.. How do you determine a true pullback in your style of trading the weekly renko?
Thanks so much and much continued success!
Theo
Use some filtering indicator like step indicators)
Stochastics is good for offline charts - and depending on the renko setting the setting of stochs is adjusted.
EG - for under 10 pips/points the stochs setting is 89-5-5 and this helps with the trend direction.
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Hi All,
I've just began trading with renko charts and was wondering if anybody has some good success with specific indicators on with Renko. Since most of the time series based noise gets eliminated with Renko charts, the indicators should be more smoother.
Best Regards,
Chyren