Good to see people succeeding with their own variation of Renko charts.
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Aussie Battler
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Disliked{quote} No stress trading Renko for sure it's easier than baking a pie You can even trade with only 1 indicators the MACD; above the zero line buy below sell. The arrows are from the EMA crossover 3,4 and are not essential but give a nice signal. The attached chart shows the trades for the last 2 days for GBPJPY. {file} {file} {file} {file} {image}Ignored
Disliked{quote} Best is to try different Renko brick sizes for the asset you are trading picking the best for your style of trading. If you want to use a MACD as the trade trigger you also have to try different settings to see what is best with the Renko brick size you chose. The GBPJPY chart I posted yesterday had a Renko brick size of 10 pips and this works well with using the Fx Bay MACD with a setting of (4,3,0) to trigger a trade. This setting works on all currency pairs using a Renko brick size of 10 pips. For low ATR pairs such as the EURUSD it's...Ignored
Disliked{quote} No stress trading Renko for sure it's easier than baking a pie You can even trade with only 1 indicators the MACD; above the zero line buy below sell. The arrows are from the EMA crossover 3,4 and are not essential but give a nice signal. The attached chart shows the trades for the last 2 days for GBPJPY. {file} {file} {file} {file} {image}Ignored
Disliked{quote} No stress trading Renko for sure it's easier than baking a pie You can even trade with only 1 indicators the MACD; above the zero line buy below sell. The arrows are from the EMA crossover 3,4 and are not essential but give a nice signal. The attached chart shows the trades for the last 2 days for GBPJPY. {file} {file} {file} {file} {image}Ignored
Disliked{quote} Hey Hutch, what renko indicator and pip size were you using in this image? Thanks.Ignored
Disliked{quote} Thanks for sharing so clean. What would you recommend for a 5 brick set up in terms of MA cross over and MACD settings. Thanks.Ignored
Disliked{quote} I was using the STG Renko Chart indicator to create a 10 pips Renko chart. If you choose to also use the STG Renko Chart Remote indicator you can change the number of pips on the chart without going back to the original M1 chart. Here are examples. The first chart is the original 10 pips Renko chart shown above but this time with the STG Renko Chart Remote indicator at the bottom of the chart. The second chart was obtained only by changing the number of pips from 10 to 5 on the STG Renko Chart Remote indicator. The third chart was then obtained...Ignored
Disliked{quote} Thank you very much for explaining I noticed that the indicator "2MA Crossover" repaints and thus not all crossover are valid signal. How do you filter bad and good signal?Ignored
Disliked{quote} Thank you very much for explaining I noticed that the indicator "2MA Crossover" repaints and thus not all crossover are valid signal. How do you filter bad and good signal?Ignored
Disliked{quote} The answer is in my post above Basically the settings for the EMA cross and the MACD are the same. Looking at the 5 pips Renko chart you understand why I don't trade low ATR pairs because you get too many lousy trades. The 10 and 20 pips Renko charts produce less trades but they are much better than the trades produced by the 5 pips Renko chart. Out of 10 signals produced by the 5 pips Renko chart 4 trades were good and 6 were lousyIgnored
Disliked{quote} I was using the STG Renko Chart indicator to create a 10 pips Renko chart. If you choose to also use the STG Renko Chart Remote indicator you can change the number of pips on the chart without going back to the original M1 chart. Here are examples. The first chart is the original 10 pips Renko chart shown above but this time with the STG Renko Chart Remote indicator at the bottom of the chart. The second chart was obtained only by changing the number of pips from 10 to 5 on the STG Renko Chart Remote indicator. The third chart was then obtained...Ignored
Disliked{quote} I am thinking that the 3/4 cross is still so opportunistic a signal on the 5 bricks chart, it only requires a conservative filter to weed out some but alas not all the false signals or "fakeys". I have put some tools together to try and achieve this because sometimes you have to trade the low ADR pairs because you cannot afford the number of pips stop loss you have to risk on the higher ADR pairs. You get more fighting chances even with the higher probability of lossing signals. So I added Trix candles and a sort of MACD both on default...Ignored
Disliked{quote} The first one between the red vertical line and the aqua vertical line generating 99 pips and the second trade from the aqua vertical line generating 85 pips. Please note that I never traded the xb4 system using Renko but it might be something to think about {image}Ignored
Disliked{quote} I just took time out to backtest the xb4 indie on M1 it looks legit no repainting after candle close. I hope to see it live on Renko tomorrow. Keep raising the bar my friend, we will milk this cash cow together. {image}Ignored