Mr.Nims, Renko Ashi Scalping System. - page 145
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New renko setting
New renko setting coming soon...feel free to test it...
I still work on this new setting....I will put it here maybe 4-5 hour later
StarWars Renko
This is one of Renko setting use by Obi Wan Kenobi & Luke Skywalker & Anakin Skywalker..and other Jedi..but Jar Jar Binks,R2D2,C-3PO,Han Solo,Dart Vader and Yoda think its need some improvement………..hahahah..just kidding…coz I like StarWars soo much
Your chart should look like this..this is Renko M2
All Jedi will open their post on this chart
Indicator used:
Moving Average 3 : Simple/Open
Moving Average 3 : Simple /Close
Immarrow = Default Setting
Moving Average 60 : Simple / Close with level setting to : 30/-30/60/-60/90/-90/120/-120/150/-150
RSI 3 : Close
RSI 3 : Median Price H/L2…(with level : 20/50/80)
RSI 13 : Close
RSI 13 : Median Price H/L2
This is the trend time frame.. all Jedi normally used normal candle at H4. They use this H4 time frame for guide ..so they know when they fly their Droid Starfighter to go up or down..and when to avoid Tie Fighter ahead….”May The Force be Always With You”
The best way to trade is put the chart side by side at your platform
How To Trade::
According to Obi Wan Kenobi..first you must check the H4 ..see the 2 type MA, where the MA pointing.
From The pic above (Dart Vader H4) the 2 MA pointing down..and the candle also down,
So the best solution on M2 Renko…you can open position sell when RSI:3 is above 80 level…the MA is crossing down..with immarrow pointing down too.
For Buy : Vise versa
Remember ..!! when H4 is down…just fly your Droid Starfighter down..if you fly up..you will be shoot down by Tie Fighter..and you will float at the space..!!
The BB level at H4:
This is the level where the price always bounce or break ..if break , price will go to another level after the break level….if not break..price will bounce back to previous level.
The RSI:3 work as Radar to all Jedi pilot..so they know when to fly up or fly down.
Remember..!! always fly with or follow the H4 Trend.
How the MA60 with level work at your M2 Renko:
Anakin Skywalker used this as Daily range and the level where price will go back to Imperial Ship.
Notice :
there is 5 level up…30pips each..total 150pips.
There is 5 level down…30pips each…total 150pips
Total all up and down is 300 pips…= that is Daily range for Gbp /Usd…..(inthis chart I used Gbp/Usd)
For normal day trade….(without news) price always travel between level 3..UP or DOWN…after that it will go back to centerline of MA 60 ( I name it imperial ship)
Jedi don’t Fly 20 minute before/after news…news like a big meteor hurricane at space..wrong move it will smash your plane..hehehe…and jedi also not flying on Saturday,Sunday and other Holiday…hehehe..
**English is not my native language so please forgive my Yoda’s
grammer
Any Question...feel free to skype me : lee7509
Lee please post your renko M2 template as seen above.
Thanks
Lee please post your renko M2 template as seen above. Thanks
No template...i use default indi with setting above...you must add it manually and save as template
Are there any special indicators that you are testing on the screenshots?
Are there any special indicators that you are testing on the screenshots?
I only use renko indi...and default indi at MT4 platform...
Any idea or code that would make indicators actually referesh with renko charts??
I only use renko indi...and default indi at MT4 platform...
Any idea or code that would make indicators actually referesh with renko charts??
Try reloading your template.
Wes
StarWars Renko
On 16/4/2010...i make some test with StarWars Renko. All position open with no take profit target...i only use "e-trailling"...so all open post close when price hit the trailling stop..
e-trailling = type of EA that control your open post...this ea follow your open post..same like trailling stop, the best is..you can set it to minima 5 pip (default 8 pip)
Not bad....even close with red mark...but still in profit
Thank you for your tpl . It look great b but i don't know how to work with renko chart.