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Guys, I do believe that the Renko Chart can be the momentum driven chart thatwe need ot run the Cyclops successful.
Download the file to script and drag after it is in script on 1 minute chart. Set the Renko to any number you like to use for the cycleidentifier looks best to you. I use 1,1,4,4 and set the PL 15 and SL25 and trigger trailing stop 8.
Download the file to script and drag after it is in script on 1 minute chart. Set the Renko to any number you like to use for the cycleidentifier looks best to you. I use 1,1,4,4 and set the PL 15 and SL25 and trigger trailing stop 8.
thank you
how can i use ranko chart
down this tile go skript fulder
and open 1m chart and doulble click this file
and offline open 2m chart??
but this file doubll click say 7m chart open ;;;
please informationㅏ
Renko are price driven so if you get a signal the chances are that the price has moved already by the time you catch it UNLESS its a major trend...Point is there is no difference in trading using Renko or time based.
Your cycleindicator needs to be modified or deleted since any indicator is equivalent to a repainting indicator.
suggestions...
do you have any that are more usable indicators for Renko charts?
The reason you swiched to Renko is because less false trades are taken right? Have you tried compatibe EA rules to limit false signals?
Try limiting the trades per move.
Can anyone make the cyclops version1 trade live and have it take both long and short trades? it only takes short trades now.
This great results....
can you post the changed EA and indicators? That rocks.
why not?
it would be nice if you use my basis! send it to me per e-mail: Talktojoexcel@gmail.com
What time frame to you use?
Hi joforex..
Renko charts are just another way to trade it. You have an error in the cyclops code and I have changed the indicator and used time
can you post the changed EA and indicators? That rocks.
No I cant for obvious reasons
Guys,
there is a lot of people like me looking for a system that works to create abundance in trading. Myself, have not had or found yet a system that I created or purchased that really paid my expectations! Expectations to make money each week. This system among others was authored by me. The idea of cycles and use them for pinning down to an entry point makes somewhat sense to me. However, the issue finding that "perfect point" is more likely at home in your bedroom, than in a rough world of currency's terminators!
Having the courage to let a system do its work is the first thing you need to learn. This system is not for anybodies taste because it is build on a possibility calculation which has taken in a position in a currency that you think and like to trade. What this means is, that this system will not be the perfect top or bottom picker! There is a scale in approach that takes course at a range between 30 - 200 pips sometimes. If you like to trade SL with that it will not work well. Otherwise if you think to trade with wide range SL (125+) than this is good. I don't believe in SL since you miss mostly the "perfect entry" and than you emoptinally place the SL into the hands of the market makers opposite positon of yours!
The idea is to find the right mix of opposite moving currencies that if the optimized setting mostly offset like a Hedge the P/L. If it moves in cycles than the balance will be positive after the cycles are finished.
This EA works good on 1 minute chart. I use it on the following pairs:
EURUSD, GBPUSD, USDJPY, USDCAD, USDCHF
The settings vary with the pairs volatility in it cycle. The EA has a tendency to scale into a trade in portions that must be managed by a MM program. It does not pick a trade and has stops to watch. I don't believe to much in the levels of stops since most of the time they get picked. It is however a preference for anybody interested to activate the SL in this EA.
Settings EURUSD $ 5,000.- Account:
Magic = 8001;
BaseLot = 0.01;
MaxLotSize = .2;
MinLotSize = 0.1;
UseMoneyManagement = true;
IsMicroAcc = false;
EquityPRC = 2;
TakeProfit = 55;
StopLoss = 0;
UseExitSignal = true;
UseTimeRestriction = false;
DayEnd = 5;
HourEnd = 12;
BreakEvenTrigger = 0;//if 0 then is not used
TrailingStopTrigger = 0;//if 0 then is not used
TrailingStopPips = 0;
EmailOn = true;
AlertOn = true;
ScreenshotOn = true;
n = "INDICATOR";
shift = 0;//0 current bar, 1 closed
PriceActionFilter = 1;
Length = 15;
MajorCycleStrength =8;
UseCycleFilter = false;
UseFilterSMAorRSI = 1;
FilterStrengthSMA = 12;
FilterStrengthRSI = 21;
It can be optimized to any currency pair. You have to use the cycle indicator which makes the EA scale in to a trade. Also it has a choice of filter which is a SMA or a RSI. Run the optimizer or create a sense of the signals you get if you manually try to picture out a trustworthy idea off the screen.
It has a MM included that is working very well working the trade from a low fraction of risk towards a large kind of martingdale position. I have ran this now for the 6th week and the RoI is currently on a real account close to 100%.
This system is posted because I believe that very creative minds on this Board can make this better. It needs more creative minds that can write more tighter entry points to it, plus add maybe a Momentum and Volatility filter. Please take that opportunity to think about this. It is an EA that works now and has more profitable potential. We have to stick our heads together to win in this. It can make anybodies abundance become something we can all proud of Any ideas?
Update: 2011/01/11
My research has made me come to the conclusion that the use of Renko Chart with this system is very promising. See attached chart. You have to find the right setting sin checking with the system for a few days trading and watch the cyclidentifer paint the bold spike. You must watch for how much a trading range change you occur on an average in the currency you are trading. That will help you to set the first setting. For the next two settings watch on a live chart for a few days how the cycle tops or bottoms form and how many trades it initiates.
Thanks JoforexGood afternoon, at once I apologize for the Английски language it not native, whether I write to you with the Request is Калипсо for 5 five--place Brokers Alpari as it does not trade on Альпари I ask you to answer respectfully Sergey Kazahstan