Mr.Nims, Renko Ashi Scalping System. - page 232
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This page gives a list of the volatility of many pairs.... Interesting when selecting pairs to trade
Forex Volatility
Good catch with the eur/jpy , I think once a fractal has formed, we should consider that as a high or low and wait for it to cross the Hama to confirm its a trend change, what do you think ?
Thanks for that volatility page, I like that we can check the daily range based on custom time settings, I think you probably use that or we could probably use that to tweak the box settings to more or less depending on the daily average more or less (from high to low), Seems like a nice tool for tweak traders.
Thanks DaveM.. all super cool info!
I took the fractal idea from the alligator trading system, I am not so sure about Hama at this time, today I am experimenting with alligator and box size to get the longer trends...... and also using that URL to see what I want to have charts on....
Alligator cuts out the chop trades and identifies opportunities for long trends.... Experiment day for me hahaha
I will do a comparison re Hama and alligator.......... however, I may be predisposed to alligator as sometimes Hama can allow chop entries more often than alligator. It boils down to personal preferences after making tweaks, I think.
Using fractals for additional entries with Alligator.
HA as well as HAMA are just generic filters, especially on renko chart since they are pretty much generic charting. So I guess HA will just do that, change color at the 2nd or 3rd box on the reverse of the direction and HAMA is pretty much the same with just the MA merged inside the HA. So we should know it may be good for mechanical scalping or day trading on renko and the pips gained isn't a suprise for that. But for some non-generic analysis, maybe you could have another strategy for that.
Maybe a system for mechanical scalping = HA + HAMA and a system for positional longer term trades or maybe analysis = Alligator
Keep me or us posted about Alligator tweaking, sometimes the oldest system work well with a good tweaking and on the newest charting like renko.
BTW, maybe you could do a search on google for bill Williams alligator e-book download and have a read on that, he has some specific rules for trading, see if you could check those rules and tweak them with your own rules?
Got it..
profitunity_trading_system.pdf
The Renko is super for eliminating chop which is the bane of traders. Sometimes the indicators that we use on the bottom of a chart can lead to confusion. Price action is what we need to see.....
I have a couple Bill Williams books..... his system is super for the long trends. What he does not provide is the patience required for traders. lol
Entering at the first fractal after the jaws are open is a great conservative entry, however, those entries do not appear if you are looking at only a few charts. There has to be a balance between the entries and the number of instruments being monitored in order to get the trading activity.
Just my opinion...... (subject to change within ten minutes)
daveM
PS I will be working with that web page and sorting the pairs to see what I can come up with eg AUDJPY provides some nice pops once in a while, I had not noticed that before.
today is about 100 pips profit using fractals AUDUSD(2entries) NZDUSD. Could have been a lot better but some distractions arose.
I want to refine what I am doing to get to 250 pips a day.
Hi mr_nims,
I looked at offline charts sometime ago and modified the candle time indicator, it may be useful to traders on this thread.
candletime_renko.mq4
This ea will open two renko charts at the same time..... gives an opportunity to have two charts with different size bars similar to multi time frame trading.