We were testing some indicators to avoid whipsaws from R.P.S, and we found some helpful indicators.
Indicators: Psar, Semafor, Rest are same as above.
Purpose of Psar:
If you would notice that, Psar is an indicator based on Support and Resistance (sar), so the full name is Parabolic Support and Resistance, so, we found that its a helpful tool to confirm our entry.
Purpose of Semafor:
3 Level Semafor indicator is based on ZigZag, which repaints heavily. The purpose of semafor is to place our stop-loss above/below the most recent yellow dot or sun with dot. It will be still same thing if you would place your stop-loss above/below the first psar dot. Semafor is added in the system just for the better understanding. It can also show you the possible reversals for exit, but don't depend on it, just a tip.
For long, all indicators must be pointed on the same direction for the first time.
- CCI must crossed osma 0.00 level for first time.
- RenkoAM must reach on the 5.00 level, if yes, then good. (Optional)
- Parabolic Sar just change direction for the first time.
Opposite for short.
Few picture examples again.
New template+indicator is attached. For indicator, use default settings.
Important Note: The system is posted just for sharing purpose, I or any member of FF is not responsible for any losses. Demo the system first, once you mastered the art of trading, go with live trading.
thanks so much to Wahaj (and of course to Nick also ) who shared the Renko system.
it increases my trading confidence after a few years in idle.
even i have been joined in many forum so long, it is seldom i involve within. and may be also i'm not sticking to this thread everytime because of my offline job.
so, once again, thanks again to Wahaj. May God bless you.
I remember one phrase i've ever read in my religion, that is, "The Best Man in the World is the Man who contributes much to others"..
thank Wahaj for the RenkoAm indi explaination in other forum, i'm checking it now why it makes my MT4 freeze (even when checked with Task Manager it was running well, no "not responding" message).
princeWahaj you are real FX prince! I hope the wizards programmers do because I don't want to lose my income from my Renko forever. I could trade it also online but it is pain in "us", much easier offline. I like somehow to get the money the lazy way.
The Semafor is a heavy repainter. How do you want to deal with that? PSAR is good for entries but not for exits.
As i said in my update post, Semafor repaints heavily and we will use it just for the stop-loss purpose, because sometimes, market will move against you without much interval of minutes that can result in bigger losses because you can't exit on the opposite signal in these situations as you are a human.
I got an inspiration from Nick about semafor, then i tried it with the non-repainter to see where were the dots previously, and then finally i have decided to add semafor for the stop-loss purpose.
If you put the stop-loss above/below the most recent yellow dot or you put stop-loss above/below the first Psar dot, both are same thing, so, if you would like to remove semafor, then remove it, psar can fulfill the purpose of semafor also.
But, remember that, i have added semafor just to make it easy to understand about where to place stop-loss, also don't forget the rules that all the signals must come together, otherwise, stay away from the trade.
Best Regards and Best Wishes to you,
Hello Gemini Man,
Assalam O Alaikum,
I am glad that i could able to help you and also glad that you gave the credit also to Nick (Mr.Nims), he is a very good guy.
It was initially me, who was inspired by the Renko Trader Mr.Nims, then now, Me and Nick, both encourages you to continue your trading activity and increase your profits.
About RenkoAM, One question! Do you have enough history? and did you tried to add RenkoAM manually?
i think also may be it was caused by not enough past history data, already tried to add manually, the problem exists.
it was better after i cut off some pairs - before i opened NU, AU, UJ, EJ, GU, EU, so totally 12 displays, and after i cut down to only AU/NU, UJ, EU, the response is better even still have some lagging - and also it reduced the resources.
but it's ok.
permit me to modify your system to my own trading style
and success always with us....who never stop learning !
Can you please post the arrow indicator you use in your screenshots ?
I always search for the improvement of the system and i will be more than happy if you would share your modified version as well, your system might help us to make R.P.S more accurate.
You always have full permissions to modify the system according to your trading style.
you are most expert than me, i read some of your threads.
i'm not recommending this arrow indi to you...it is BADLY REPAINT ! it is a 'Unicross indi (T3-Snake crossing)".
i use it as a prediction turn around pre-information only. it is repainted same as semafor.
.... and i will be more than happy if you would share your modified version as well, your system might help us to make R.P.S more accurate.
i'm not selfish.
if it is proven to be more stable and accurate, i will share mine in your thread.
but for a moment, plz give me time to work in my laboratory.....he...he...he...
(note : what u c in my chart is not my whole modified one, some parts had been deleted to make others not confusing, and keep this thread originally tasted....)