Hi Chris,
was only wondering in the event that you've found or used some other good inflection point kind indiors previously.
Do not know if they may be implemented well to renko charts are not.
Only a thought.
Hi Chris,
was only wondering in the event that you've found or used some other good inflection point kind indiors previously.
Do not know if they may be implemented well to renko charts are not.
Only a thought.
Hello...I don't understand what do you mean with inflection point...Originally Posted by ;
If you mean if I found an indy that can make a true difference. . .well. . .yes and not...
For scalping not....
For swingtrading I think yes...
This is an example on something I am working on...
This really is really a backtest on EURJPY renko 10pips bricks...
The period is between 10/05/2009 - 01/15/2010. . .because is the maximum that TS lets me backtest with renko...
Even it is a renko backtest it is absolutely trustworthy. . .because the orders are taken at the close of their bricks, this really is the only approach to backtest with renko at a realistic way...
The risk/reward in this circumstance is 1:5. . .yes. . .20pips SL and 100pips TP.
EURJPY is the best performer with this sort of egy, other pairs like USDJPY, EURUSD and GBPUSD are also profitable with various settings. . .but not exciting...
This is due to the fact that each pair has a different life, different volatility and so on...
Yes. . .this is an optimization, which is the reason why I am not so excited. . .but in the previous 3 months has been very profitable. . .but clearly it depends whether the pair is trending or not...
So. . .if you wish to try it possible. . .but teorically you've got to anticipate some drawdown (max consecutive losses 12), and you need to take quite all signs to honor the egy. . .that has only a 28% hit rate, but with a 1:5 risk/reward it profits...
So... EURJPY 10pips bricks
Bollinger Bands setted in 8,1
Simple moving average setted in 23
The egy is. . .buy if a brick closes above the highest BB and the close is above the 23 ma
sell whether a brick closes beneath the lowest BB and the close is below the 23 ma
It works quite well also only with BB without the ma. . .but the ma filter eliminates a lot of bad trades. .
Infraction points stem from calculus happens together with the steepest tangent so though perhaps it would make a fantastic pa indi for regular timed charts at least.
Think I may have found an indior that uses some of the math, but haven't tried it out yet. Maybe I will feel like it before the market reopens in a mt4 simulator this weekend, but I believe somewhat traded out at the moment.
So... EURJPY 10pips bricks
Bollinger Bands setted in 8,1
Simple moving average setted in 23
The egy is. . .buy when a brick closes over the maximum BB and the close is above the 23 ma
sell if a brick closes beneath the lowest BB and the close is below the 23 ma
It works quite nicely also just with BB minus the ma. . .but that the ma filter gets rid of a lot of bad transactions. .
Thank you Chris sounds just like your coming up with another fantastic renko trading platform.
Can not have too many of those. lol
Creating a template based on your specs. Does it look right?
When it does, can I post the template if others wish to help you forward examine the setup?
Fractals might help on exits.
Yes you can post it. . .but you are on the incorrect pair. . .the pair that works with these settings is EURJPY not EURGBP...Originally Posted by ;
It can work also with some other pair but every pair needs a few tweaking..for example with EURUSD the best settings that I found are:
20 SL and 50 TP
BB setted in 7,1
Ma setted in 27
since you can see when price breaks BB tends to trend. . .not consistently clearly. .
Alright thanks ,Originally Posted by ;
Yeah I know I just slapped it on the 1st renko chart that popped up.
I attempted it a little within an mt4 simulator on 15 min chart before the chart froze me up. Don't really trust MT4 renko charts in it is backtester yet. Can tradestation offer any kind of free demo period?
Guess they should if they do not already. How else are new traders to their platform assumed to understand how to use it?
https://www.forexforum.co.za/attachm...1396491909.tpl
Now very bad beginning of the new week...I have resetted all of my profit...
Now was vaion for USA banks. . .and it have would been better not to trade. . .the PA was very crappy. . .and GBPUSD was my black monster. .
But I stored my initial capital. . .so tomorrow I will have to work hard!!
Other lesson discovered!!
In the meantime I am testing the swing egy with BollingerBands. . .but now has been a bad day too for this particular egy. .