Ogee wrote: Wed Aug 24, 2022 6:07 pm Try stoch color obos exit arrows with smoothing set to 2 and Heiken Ashi arrows.

! Stoch - color (mtf + arrows + alerts).ex4

heiken ashi arrows (mtf + alerts).ex4

Thanks for your response. However, I don't see the smoothing option on the indicator you provided. I will reveal what I'm trying to accomplish with a screen shot as well.

Below is a Renko chart with Guppy MAs, plus 2 LWMA (120, 480). The reason for the two LWMA is it reveals where price is relative to the past week (120) and month (480). Also, the Renko brick size is set to 15. The MACD is set to Bill Williams settings (5, 34, 5) and the ADX set to 5, level 25. I use the Wilders 3.5 that Mr. Tools updated, that gives me an alert every time the DI+/- crosses the 25 level. He’s a magician at coding. Also, I’m using the Daily lines indicator and MTF Hi LOW V1 indicator to show last month’s, weeks and daily’s highs and lows (for S/R). Based on these settings, the Renko chart resembles the one-hour, time-based chart. This is how I decided on the settings for the larger moving averages on Renko.

My strategy is quite simple, you basically want price above/below all averages to buy/sell. Your entry is when these conditions are met:
Two consecutive Renko bars occur (this is where Heiken Ashi alerts come into play!)
MACD bar is above/below the signal line and zero cross
ADX DI+/- is above 25 level
And you want to avoid buying/selling at S/R levels (this is where MTF Hi LOW V1 helps)

Basically, the Heiken Ashi alerts and ADX is all you need for alerts and the other indicators are used to filter out false signals. I absolutely love Renko because I get signals when the market is actually moving and Heiken Ashi helps keep me in the trend. By combining the two, it makes a phenomenal and powerful strategy.

I’m still developing ways to gauge the relative strength on all the currencies like using the CCFP on 1 hour set to 20 fast/100 slow MA and the Currency Slope Strength indicators (default settings on 1 hour) to further filter out false signals. But for the most part, this system seems to be solid. Any help to improve this setup, is more than welcomed…thanks!

p.s. Set the Wilders indicator to period 2, level 25 and smoothing to 0 in order for it to match MT4's ADX 5 period. Also, the Renko indicator is set to Rail to Rail, not no Gap.