Mr.Nims, Renko Ashi Scalping System. - page 144
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Thank you
Thank you for sharing this method...
I will try this system...
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:
can you post template and indicators?
can you post template and indicators?
You can find them in the #1 post by Mr.Nims. I use the same template and indicators given by him and did not change anything.
GBP/JPY MACD touching 0 line
Short signal. Possible opportunity here.
... ...
For long:
1) Spot for a fresh double RED wicks. Better if they are long wicks.
... ...
For short:
1) Spot for a fresh double GREEN wicks. Better if they are long wicks.
... ....Are you sure that there is no mistake here and in both cases it's better if they are long wicks?
5-10 pips scalping strategy
mamma - first I tough that it is a mistake to, but he is not talking about wicks on the renko charts, but about Wick indicator under the charts :-)
mamma - first I tough that it is a mistake to, but he is not talking about wicks on the renko charts, but about Wick indicator under the charts :-)
wick indicator also has reverse action when price trends up or down; so, logically, the color should be different
I guess we have to wait for author's clarification
Renko 20pip Trading system
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.
removed copy-write script, Please note i found it on internet and it was not stolen or something. Thanks.
Copy-write script.
removed copy-write script, Please note i found it on internet and it was not stolen or something. Thanks.
Thank you very much.