Mr.Nims, Renko Ashi Scalping System. - page 143
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To Al-Mighty LordFX
Where are you? Whatever happened to the Lord of the pips? Will we ever get an update on your system? does anyone know. I am "realy" keen to know more...could someone help?
cheers
Joseph
Hi,
The indicator attached draws arrows over the candles, can someone code it to draw the arrows a little bit off the candles
ThanksThis one uses Atr to space the arrows.
Regards
Start of a SKYPE LIVE TRADING GROUP
Is anyone interested in a LIVE SKYPE trading group to trade RENKO?
Let's get it started!!!
Is anyone interested in a LIVE SKYPE trading group to trade RENKO? Let's get it started!!!
http://renko-room.awardspace.us/
Problem with sweetspots
Hi mr.nims and all trader...
Firstly, i have to thank you very very much to this system and all developer, i'm still testing this system (Renko trade by trend and Renko 20 pips), Renko trade by trend is fine but Renko 20 pips is not, i think sweetspotshave a problem because it's work on 4 digit but not work on 5 digit, Can mr.nims or anybody else fix this? please....
Posting stolen script.
Renko 20pip Trading system
Hi Folks,
The original system on post 1 was a trend following renko system. But as you know we still need to make pips regardless if its trending or NOT.
How would you like if you were able to make 20pip every 4hourly (I really mean it, not 20pip a day but 20pip every 4hours), In a fast moving 24hour market like forex, its not impossible. Say you trade 5% of your balance that's like 1% every 4hours and if you trade 10% of your balance like me that's like 2% every 4hours!
So everything is the same as in post 1, except that we will be using a different indicators and templates for this strategy.
The trading is 1:1 , that means our win/lose ratio is the same, IE 20pip SL : 20pip Target.
I'm attaching a screen-shot as well as the indicators and templates.
There's not much jargon in this strategy, simply put it, we check if oscillator is blue, check if trendline is blue, check if BB_stop is blue. Then enter a buy 20pipSL/20pipTarget.....vice versa for sell trades.
The pairs i recommend for 20pip Fishing are EURUSD, AUDUSD, GBPUSD, EURJPY, AUDJPY and GOLD. Pls check if the spreads for currencies are lower than 5pips and gold spread is 100pip or lower. On fxdd these criteria match so i trade these for my 4hourly 20pips.
BIG NOTE: Alternatively you can use the Constant Range Bar Renko Chart (Its a renko but it doesnt follow price levels, instead it waits for the market to move 10pips and when it breakout 1pip more or less a new candle forms, pretty good for pickup 20pips too with early entries)
I'm attaching the s-constant range bar script, by default i have set it to 10pip box and to load it on a M3 Offline chart so you can use m2 for the normal renko. Also attached a new template, 20pip_CRB_system for the constant range bar renko charts. Indicators are the same.
Good luck to all sincere traders out there!This post contains decompiled script from my site which is commercial. I would appreciate if you remove s-constant range bars. Also note that you use obsolete version #14 from 2-2-2009. The current version is #16 and available for free download for all legitimate users on my web site.
....
Oops...........................
This one uses Atr to space the arrows. Regards
Thanks!!!!
Hi mr.nims and all trader... Firstly, i have to thank you very very much to this system and all developer, i'm still testing this system (Renko trade by trend and Renko 20 pips), Renko trade by trend is fine but Renko 20 pips is not, i think sweetspotshave a problem because it's work on 4 digit but not work on 5 digit, Can mr.nims or anybody else fix this? please....
Apologise for my hury up, Now i know method to fix this, just add 0 (zero) behind NumLineAboveBelow, SweetSpotMainLevels, sublevels and they will fine....
BestRegards
Wick 5-10 Pips Scalping Strategy
Hi, I've been using Renko Ashi for quite some time now and feel that it's a great system. I've been watching the Wick indicator in this system and I think I've found some patterns that can be used to scalp 5 to 10 pips as a complementary while waiting for a setup from Renko Ashi. It's more like a confirmation of a trend continuity. Since this is a scalping strategy, you need to watch the screen from entry to exit, have quick fingers and quick brokers. I've provided the setup examples as below:
For long:
1) Spot for a fresh double RED wicks. Better if they are long wicks. (Fresh means there are no red wicks before the double red wicks)
2) Neither of the double wick should be 50% shorter than its partner.
3) MACD AND MA both moving upwards.
For short:
1) Spot for a fresh double GREEN wicks. Better if they are long wicks. (Fresh means there are no green wicks before the double green wicks)
2) Neither of the double wick should be 50% shorter than its partner.
3) MACD AND MA both moving downwards.
Entry: If all 3 conditions are met. SL on the other side of channel. (Yes, I realize the RR is bad, but it's a scalping system, so you should be always on guard)
Exit: Take profit 5 to 10 pips or when a new candle is formed.
A trending market:
1) Good setup.
2) Good setup.
3) Bad setup. (1 of the double wicks is more than 50% shorter than another)
4) Ok setup.
5) Bad setup.
6) Good setup.
7) Good setup.
8) Good setup.
A choppy market:
1) Bad setup. (Trend is not confirmed)
2) Good setup.
3) Tricky setup. (That's why long double wicks are preferred.)
4) Bad setup. (Trend is not confirmed, although it's a winning setup)
5) Good setup.
6) 2 Bad setups. (No trend, short wicks, less than 50% length of another)
7) Bad setup. (MACD is arguing with MA, but if you're clever you know it's a bearish divergence, I normally don't go for this type of setup though.)
8) Ok setup.
9) Good setup.
Conclusion: If you notice, 'Good setups' are where you can scalp for 10 pips, sometimes even more, but don't be greedy, just take 10 pips. 'Ok setups' are where you can scalp for 5 pips. It's much more dangerous so if you're not the adventurous type, I suggest you just stick to trade only 'Good setups'.