Mr.Nims, Renko Ashi Scalping System. - page 288
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warning for new traders: those channels repaint. they look much better than they are. they are made to please your eye, not your account. you need to watch them live a long time before applying them in trading.
Hi Marley60,
Someone long time ago in the 2005's had a whole system based on COG, can't recall it but maybe its belkhyate system or something, maybe more information on the way the indicators working could be from from this.
Yeah it looks somewhat repaintingish, not sure though.
Best, Nick
It is idea developed by Hurst in 70'ties. Repainting is not a problem - the channel tells you what happens NOW. It looks back 180, 300 or as many candles as you set and basing on that data gives readings for current candle. If candles are in extremes it is high probability setup. When you enter a trade it is your responsibility to manage the position. There is also non repainting version somewhere on this forum for backtesting purposes. I didn't think of using it with renkos. Will give it a try.
Yes the channel repaints with every bar, takes practice. I should have mentioned that when I posted the thing.
I actually just wanted to show some alternatives, the LSMA Channel is probably a lot easier to use, I am not recommending anyone use the channels, sometimes seeing weird ideas will trigger some different thinking.
I have used channels to trade renko, nothing tremendous and no more profit than using Heiken Ashi smoothed indicator alone on the chart.
Renko does not require a complex chart, it requires money management, stop loss.
I finally got the nerve to use half my account today, maybe heart attack coming hahahahaha
I have had enough screen time over many years but I have always been timid about risk. Today I took the plunge........ nice day it was....
Nick, I read one of your posts about position size and have been thinking about it for weeks and weeks.... took me a long time to work up the nerve.
Thanks Nick.!!
One more channel indicator, actually, this one may be a lot better than the others.
Enjoy.!!
Blaiserboy, yesterday I tried the MACD_Complete_Arrow indicator. I cannot see anything in build 600 and it crashes my build 509. What build is that made for?
Maybe I will be able to help.
I want to show my tactics.
I very much love 1 minute a chart. I very much love it. And I love only one pair -EUR/JPY.
But I always dreamed that one minute for me was more rounded, more beautiful. Then I started being interested ренко in diagrams. A lot of time passed. I studied Renko much. I tried, but unfortunately, I understood that I can't create such combination which exactly will make for me profit.
I can tell that I know about Renko all.All. But it not my diagrams. Then it is absolutely accidental, I find the adviser who completed Mladen. It Range bars.
And I understand that I found.
I see waves here. QQE shows all. Wave, small wave, fixing, flat.
RSIoma shows the general direction.
Yes the channel repaints with every bar, takes practice. I should have mentioned that when I posted the thing.
I actually just wanted to show some alternatives, the LSMA Channel is probably a lot easier to use, I am not recommending anyone use the channels, sometimes seeing weird ideas will trigger some different thinking.
I have used channels to trade renko, nothing tremendous and no more profit than using Heiken Ashi smoothed indicator alone on the chart.
Renko does not require a complex chart, it requires money management, stop loss.
I finally got the nerve to use half my account today, maybe heart attack coming hahahahaha
I have had enough screen time over many years but I have always been timid about risk. Today I took the plunge........ nice day it was....
Nick, I read one of your posts about position size and have been thinking about it for weeks and weeks.... took me a long time to work up the nerve.
Thanks Nick.!!Hi DaveM,
Going Quarter-In or Going Half-In .. When the Probability is HIGH.. Is an Okay Practice for Skilled Renko Trading Professionals.
But Try to Avoid going All-in unless your SURE... Actually it's best to avoid it.
Best, Nick
But that I still want to tell.
Graal doesn't exist. Graal only in your head. You shall learn to think. This main thing. Shall understand itself. If you understand yourself - you can do everything.
People share every day the Graal. People try to repeat. But all of them equally lose. Why? Because it is psychology. It is necessary to think.
this ..................