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Thread: The power of Renko Trading!

  1. #11
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    i tried the indicator all worked apart from the RenkoLiveChart_v3.2.ex4, please how can i set it
    thanks

  2. #12
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    Quote Originally Posted by suhntsano View Post
    i tried the indicator all worked apart from the RenkoLiveChart_v3.2.ex4, please how can i set it thanks
    Put it in the EA box. Start a chart at 1min, bring out the EA edit it for 2 pip and another time frame. Say 2min or 4 min.

    Go to 'chart offline' and click the TF that you have chosen above. It should work....just looked at your post. Only 1 post. Are you familiar with Metatrader?

  3. #13
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    Short position on E/U out of supply zone & off Harmonic Bearish Butterfly using 10 pip Renkos.

    The power of Renko Trading!-screenhunter_16-oct.-18-05.19.58-pm.jpg

  4. #14
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    I had added two more positions to this trade on Fri & was up 140 pips combined.

    We'll see where she goes this week.

    The power of Renko Trading!-3x002.gif
    kor4x likes this.

  5. #15
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    Hi gman, basically what is the difference between a normal chart with japanese candelstick and one with renko blocks??

  6. #16
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    Quote Originally Posted by kidrock82 View Post
    Hi gman, basically what is the difference between a normal chart with japanese candelstick and one with renko blocks??
    Good question KidRock,

    The main point with Renko charts is that there is absolutly no time involved on the charts..none! So you have no m1, m5, m15, m30, h1 etc etc.

    In ohther words... like on a regular candle stick chart where as a new candle will appear after a given alot of time (depending on what time frame you are on) ...with Renko charts a new candle or (Brick) will not appear until that Renko bar (Brick) has moved a certain number of pips in either direction.

    Now you are the one that can determin what that number of pips is. On my current chart my bars are set to 10 pips so a new brick will not paint until price has either moved up or down 10 pips pass the current bar. You can set the size (number of pips) you want on your charts, whether it be 5, 10 12, 20, 25 or what ever you want.

    When I said earlier there is no time on these charts there is none.... because you can in theory be looking at the same brick for an hour, a day, a month and so on. Get the picture KidRock? A new brick is not going to paint unless price moves a certain distance up or down.

    Because of this.... you will find that it really takes all the wip saw action out of the charts & in turn you see a much smoother price action.

    They are simular to Point & Figure charts. The difference being is with Point and figure charting the bricks can stack up and down beside each other where as with Renko's they stack one on top of the other as in my charts.

    Hope that was helpful and not confusing for you.

    G
    kor4x likes this.

  7. #17
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    No no you explained the thing pretty well , but how you do measurement time with harmonic trading? or you do not use fibe time measurement? i would like to try it with the ichimoku, i'm trying to master this indicator with 1h tf , do you think a 10 pips brick would be good?

  8. #18
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    Quote Originally Posted by kidrock82 View Post
    No no you explained the thing pretty well , but how you do measurement time with harmonic trading? or you do not use fibe time measurement? i would like to try it with the ichimoku, i'm trying to master this indicator with 1h tf , do you think a 10 pips brick would be good?
    Hey KidRock

    10 pip should be fine. It's just something you'll need to play with and find what works best for you. But 10 pip is quite normal.

    Price is price it's all the same you'll get the same price action and same prices the only difference here with Renkos are the foot prints they leave.
    Clean & smooth! No wipsaw candles.

    G
    kor4x likes this.

  9. #19
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    Up 280 Pips now combined all 3 orders and took 2 positions off the table.... leaving the last one on as a runner.


    The power of Renko Trading!-screenhunter_04-oct.-23-08.55.32-am.jpg
    Last edited by TheGMan; 10-23-2012 at 02:33 PM.

  10. #20
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    Quote Originally Posted by nelsonhimes View Post
    I am a new comer in this forum and always looking to learn something new about the trading so it will really help me a lot. Looking forward to more nice posts
    Welcome aboard Nelson!

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