Renko Power System - Very Profitable - page 14
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Hi all and thanks for your contribution on this thread.
I am trying to use a dual MA crossover indicator ( IINWMARROWS.mq4 found in internet) which just displays arrows when a crossing of the two selectedMA's takes place in RENKO charts.
It works ok most of the times but all of a sudden sometimes I get some extra arrows in the last candles which are not valid. If I reapply the template or the indicator, the invalid arrows disappear.
I have noticed this happens sometimes when there is a very short disconnection between the terminal and the server of my broker.
Any ideas? Is there any problem with renko? Is this due to disconnection? If yes what can I do, if I would like to use it in a robot?
Thanks for your help.
And...below is the resut during Europe beginning session...+19 pips.
My problem is, i close the trade too early while it is still down....
Why ? i don't know....
the only proof is, that this RPS system is Profitable...that's all.
Note :
Still learning much with Wahaj system, combined with other under tested indicator.
Anyway, thanks to Wahaj and Mr. Nimms who shares the Renko system in other thread. I like it very much...
GMEU this morning OP SELL, based on some confirmations....Is my decision correct ? (at the time i entered my office during Asia session and i saw a possibility....) GM
I believe Gemini Man is / was using the Super Trend NRP (Non Re Paint) if anybody wants to use it....although I do not know the settings he's using, default seem good.
Here ya go...this version has alerts!!!
Profit + 63 points of EU and GU before Bernanke speaks,,,CLosed
Here are the charts before i closed them manually (i put TP and trailing SL, but once again, im not patience in waiting for TP hit......even my OPs already covered by the trailing stop above the OP.
As Wahaj said, i need to learn to believe the system.
Actually i love Wahaj system, basically it is proven to be profitable, U only need some other indies suitable for u, or just use Wahaj template.
Wahaj already made a delicious recipe, u only need chilly and sauces for your taste..
GMIn this post you can see Gemini Man was using a slope line. I have this in my library too...here ya go everybody it has alerts too!!! Test your own settings. I do not believe you need to change anything from the Prince's version but everybody is free to experiment...it could add confirmation!
Profit + 63 points of EU and GU before Bernanke speaks,,,CLosed
Here are the charts before i closed them manually (i put TP and trailing SL, but once again, im not patience in waiting for TP hit......even my OPs already covered by the trailing stop above the OP.
As Wahaj said, i need to learn to believe the system.
Actually i love Wahaj system, basically it is proven to be profitable, U only need some other indies suitable for u, or just use Wahaj template.
Wahaj already made a delicious recipe, u only need chilly and sauces for your taste..
GMI realized that I also have this Oscillator indi....once again happy share!
Hello Guys,
Here is the example of entries in AU pair. There are even more with other pairs.
If you are human and even a newbie, you would surely understand what is called Opposite Signal to exit as Stop-Loss.
More entries and examples will be posted for people understanding and confidence.
Best Regards,
PrinceWahajJust to confirm understanding....
The RENKO AM indi measures how long the candle takes to form, correct? So we want to make sure it is not a signal formed by very fast moving market?
What is the OSMA used for as it is blacked out?
Thanks for explanation / confirmation...
Hi all and thanks for your contribution on this thread.
I am trying to use a dual MA crossover indicator ( IINWMARROWS.mq4 found in internet) which just displays arrows when a crossing of the two selectedMA's takes place in RENKO charts.
It works ok most of the times but all of a sudden sometimes I get some extra arrows in the last candles which are not valid. If I reapply the template or the indicator, the invalid arrows disappear.
I have noticed this happens sometimes when there is a very short disconnection between the terminal and the server of my broker.
Any ideas? Is there any problem with renko? Is this due to disconnection? If yes what can I do, if I would like to use it in a robot?
Thanks for your help.Hello teamlab,
The indicator repaints and its not reliable to use it for entries, make sure that you are using a non repainting version, if you know which MA crossovers should take please so you can download MA Crossover Indicator from internet, write your selected values in MA Crossover and you'll have a non-repainter.
For this, i don't have any idea for now because i don't know if you are using non repainting indicator or repainting indicator, if my memory is correct, mr_nims is also using this IINWMARROWS indicator in his RenkoAshi 2 system. You can ask his help on this thread. I am sure he will help you in this matter.
I am pretty much sure that your robot is not going to work if it is based on only IINWMARROWS indicator and a lot of false trades will be opened.
Find the non repainting version on the internet, and i hope you will find it or Post on Mr_Nims's thread.
Best Regards,
PrinceWahaj
Just to confirm understanding....
The RENKO AM indi measures how long the candle takes to form, correct? So we want to make sure it is not a signal formed by very fast moving market?
What is the OSMA used for as it is blacked out?
Thanks for explanation / confirmation...OsMA is used because of its zero line. Its zero line will automatically adjusted according to the volatility so that's why, we are using it as blacked in basic version.
CCI must cross OsMA 0.00 level. Psar must change its direction on the same bar. RenkoAM must agree. These are the entry rules. Only for reminder. Browse page no 5 of the thread to know more.
Best Regards,
PrinceWahaj
Hi Wahaj and also RavenX,
To Wahaj, I know perhaps you know whats the true intended use of the renko am, but just in-case if you or anyone has a misunderstanding about renkoAM.
It's not a trading indicator, it's just an informational indicator and only serves the purpose to show "In the past" history of the renko charts for any news based, spike based moves and any market gaps like weekend gaps or if your trading stock market that opens with a gap everyday.
That's the only use for the indicator, for forex you could just edit the periods on that indicator to "1" for 1 minute, if the candle took less than 1 minute you should see blank and if it took a minute at-least it was a normal cande, if it took more than a minute... we don't need to care how long the candle was running.
So in visual backtesting you may see blank bars and then you could dismiss that setup as untradable scenario. That's all RenkoAM can do for you.
I hope you guys are not thinking it will predict something for a future move or you need RENKOAM to be lined up for a trade setup. If it went blank your probably not in that trade because it was too fast or your lucky if you were in that trade!
Best,
Nick
Hi Wahaj and also RavenX,
To Wahaj, I know perhaps you know whats the true intended use of the renko am, but just in-case if you or anyone has a misunderstanding about renkoAM.
It's not a trading indicator, it's just an informational indicator and only serves the purpose to show "In the past" history of the renko charts for any news based, spike based moves and any market gaps like weekend gaps or if your trading stock market that opens with a gap everyday.
That's the only use for the indicator, for forex you could just edit the periods on that indicator to "1" for 1 minute, if the candle took less than 1 minute you should see blank and if it took a minute at-least it was a normal cande, if it took more than a minute... we don't need to care how long the candle was running.
So in visual backtesting you may see blank bars and then you could dismiss that setup as untradable scenario. That's all RenkoAM can do for you.
I hope you guys are not thinking it will predict something for a future move or you need RENKOAM to be lined up for a trade setup. If it went blank your probably not in that trade because it was too fast or your lucky if you were in that trade!
Best,
NickHello Nick!
Thank you for your post in this topic!
You are right, i was aware of the use of RenkoAM and that is how i visually backtested many, many strategies on Renko. I am sure that this is an informative post for others. I just saw that my answer to @RaVonX was incomplete as he asked about RenkoAM too.
If you can help a member asking for IINWARROWS indicator or if you have a non repainting version, please post. You can find his post#136
Nick, I will reply to your PM shortly, for now, i need to go for Salah(Ishaa) and Qayam-ul-Layl...
Best Regards,
PrinceWahaj
Hi Wahaj,
This is IINWArrows, Free download of the 'IINwmarrows' indicator by 'Scriptor' for MetaTrader 4 in the MQL5 Code Base
It's just a 3 period MA crossover with a twist
in the coding. So it doesn't just show dumb arrows at every crossover but also can do a little bit of predicting reversals. In MA crossover the rule is always the same, after a buy signal will be a sell and after a sell signal will be a buy. This MA crossover has a twist in code and if you can read the code maybe you'll understand. (I don't).
BTW, I just included it to show reversal points in Renko Ashi trends for possible exit and re-entry. I've dumped it in my personal trading since many years ago.
I hope you read the code before you decide you want to make an EA out of this, then you'll understand better or perhaps fix any glitches by yourself.
Best,
Nick