Best indicators to work with Renko Charts - page 2
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I was just looking up renko chart indicators and came across this link. I am testing a few things. jeeves? what you said said, "forget about the m1 chart." arent you suppose to use the m1 chart for the data feed and the m2 chart as a "container" so to speak??
what I like about renko is the simplicity and elimination of noise via elimination of time frames and volume. a holy grail indicator does not exist for any of it and perhaps the closest thing to a holy grail is correct price and volume analysis which is not part of the renko charting method.
one thing I always find entertaining is people complaining about repainting indicators. there is nothing that can be done about it because markets are not static. having an indicator that does not repaint, which does exist, is convenient for a lazy programmer who wants to code a robot with easy buy/sell triggers. HOWEVER, that is not the nature of markets which are dynamic. this is also why most robots fail.
I certainly do agree jeeves about the eyeballs being the real holy grail but only after the trader gets experience under their belt and knows what to look for by gaining a "feel" for whatever market is being traded.
Pava? how do I get your indicators to work? all I get is a blank indicator window. thanks!
Pava? how do I get your indicators to work? all I get is a blank indicator window. thanks!
Which indicator exactly?
Pava? how do I get your indicators to work? all I get is a blank indicator window. thanks!
You need this indicator too for a function call. ssa_of_price.mq4
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.Aren't we usually told to put the EA on a 1 min but open offline 2 min? So you are saying put the EA on a 1 week chart and then open on an offline __?_ min chart? I am confused. Or are you saying put EA on a 1 min chart but then open offline chart on a 1 week? What size bar/brick would you use for the renko EA? Could you please explain?
Thanks
Any indicator should work on renko
Aren't we usually told to put the EA on a 1 min but open offline 2 min? So you are saying put the EA on a 1 week chart and then open on an offline __?_ min chart? I am confused. Or are you saying put EA on a 1 min chart but then open offline chart on a 1 week? What size bar/brick would you use for the renko EA? Could you please explain? Thanks
Since renko charts are time-indepent, you can open it on every time-chart you want (1M or 1H or 1D or 1W). Important is the right renko size. When you work on lower timeframes, the renko range doesn't depent on the volatility of the currency pair that much as on a W1-chart. There you have really big differences between the pairs.
Any indicator should work on renko
Should, but it isn't that easy. Some indicators need chaos or time. When the dimension time is missing and the price chaos is ironed out, the picture is completly diffrent. Wildhog is on renko charts unusable, but on tf-charts a very good indicator. The family of cycle-identifying indicators doesn't work. And adaptive indicators shouldn't work either. In contrast simple things like MACD and stochastics work here very well.
the pava indicators need dll files which where not included. I would like to test his indicators but so far no luck with it. stochastic seems like something worthy of attempting for what I have been working on. not sure exactly how I want to do this but so far, but I have ideas. I just want to catch trends with a reliable earlier entry using a renko atr chart. if anyone knows a better method for early entry, ALL ideas are much appreciated!
"pava indicators" -which are those?
jeeves indicators work though and I am testing them out now. pretty good actually. I like that multi color rsi he posted.