sylvester21 wrote: Sat Mar 11, 2023 3:17 am Dear KVak, I am very curious about the calculations behind this indicator.

Is Volume factored into the calculations, or moving averages of close/open/etc etc?

Hello, As said Andrei, it is handling prices in calculation...

TransparentTrader wrote: Tue Feb 14, 2023 9:43 am
Here is what the BSP indicator looks like on a US30 chart with 5-point Renko boxes (top subwindow). The timespan of this picture is 10-11am EST today. This is kvak's version that stays loyal to the original formula. EMA for both moving averages, a moving length of 100 for both averages, and that's it.

Notice how it keeps us in the long trending moves and then gives us a better idea of trend exhaustion. Most other indicators used on a Renko chart would force you to exit a lot earlier and miss out on even greater trading gains.

Hello :-)
I just went through your thread, I confess I lost track of what is going on in the latest posts with those five or so methods. I do like the BSP - I have not traded with it yet, but I am looking for some filter to keep me in trade and if possible to stop me from entering the wrong one. What I want to ask now is if you perhaps know the Didi indicator - I downloaded it somewhere here and I understand there are quite many of that breed. I trade rangebars rather than renko, but to my eyes, it seems to do the same job as BSP, but with fewer false signals during side movements. And I don't think it lags too much. Please have a look and I would be happy for any thoughts since you have much more experience with the BSP.
I'm attaching the DiDi I have (there are many more here around) and also a chart on renko 50pts on DAX with DiDi, BSP50/50 and BSP 100/100 :-)

I also have a rather personal question.. how do you enter in the renko chart.. do you set a stop order waiting at some distance from the just-ended signal brick, or do you enter immediately.. also the storm must be at least two bricks away I guess?..

All the best!!

…

Usually at 180 degrees Celsius.

najv wrote: Sun Apr 02, 2023 5:19 am Hello :-)
I just went through your thread, I confess I lost track of what is going on in the latest posts with those five or so methods. I do like the BSP - I have not traded with it yet, but I am looking for some filter to keep me in trade and if possible to stop me from entering the wrong one. What I want to ask now is if you perhaps know the Didi indicator - I downloaded it somewhere here and I understand there are quite many of that breed. I trade rangebars rather than renko, but to my eyes, it seems to do the same job as BSP, but with fewer false signals during side movements. And I don't think it lags too much. Please have a look and I would be happy for any thoughts since you have much more experience with the BSP.
I'm attaching the DiDi I have (there are many more here around) and also a chart on renko 50pts on DAX with DiDi, BSP50/50 and BSP 100/100 :-)

I also have a rather personal question.. how do you enter in the renko chart.. do you set a stop order waiting at some distance from the just-ended signal brick, or do you enter immediately.. also the storm must be at least two bricks away I guess?..

All the best!!

do you know the wae?

Chickenspicy wrote: Sun Apr 02, 2023 8:34 pm do you know the wae?

Thanks to Mr Kvak I will change my meaning of/in Life!

viewtopic.php?p=1295479524#p1295479524

Everybody is fighting for gender inclusion.....................

I will fight for Cluttering Exclusion!!!!!
(I wake up in the "mood")


Use candles with on/off

And now Just for 1 minute.....


Imagine and try to visualize this:


Buy Sell Pressure Candlestick Overlay Btn.ex4


Just try to imagine this.....

najv wrote: Sun Apr 02, 2023 5:19 am Hello :-)
I just went through your thread, I confess I lost track of what is going on in the latest posts with those five or so methods. I do like the BSP - I have not traded with it yet, but I am looking for some filter to keep me in trade and if possible to stop me from entering the wrong one. What I want to ask now is if you perhaps know the Didi indicator - I downloaded it somewhere here and I understand there are quite many of that breed. I trade rangebars rather than renko, but to my eyes, it seems to do the same job as BSP, but with fewer false signals during side movements. And I don't think it lags too much. Please have a look and I would be happy for any thoughts since you have much more experience with the BSP.
I'm attaching the DiDi I have (there are many more here around) and also a chart on renko 50pts on DAX with DiDi, BSP50/50 and BSP 100/100 :-)

I also have a rather personal question.. how do you enter in the renko chart.. do you set a stop order waiting at some distance from the just-ended signal brick, or do you enter immediately.. also the storm must be at least two bricks away I guess?..

All the best!!

The Didi Index is definitely on my list of indicators I want to test on the Renko charts. Based on this one picture I'm tempted to give it a go this week and see how it compare to the 50/50 and 100/100 BSP settings.

If I see that it consistently gives fewer false signals during ranging markets as you say, it may be a viable replacement.

As for entering trades on the Renko charts, I had the following in mind with BSP 100/100: I set my stop loss at 4 bricks away from my entry point and gradually move up the stop loss to break-even and beyond if the trade continues to go in my desired direction.

I have only traded indices with this method and have not applied it towards other instruments (currencies, metals, oil, crypto, etc.).

With BSP 50/50 or 100/100, if you trade the signals blindly, the maximum loss you can have is two Renko bricks. Look at the picture you put in your post and you'll see what I mean.

Having a stop loss of 4 Renko bricks gives me a safeguard during moments of extreme volatility where price action will suddenly paint several blocks in a row because of how fast it's going. So If I risk a total of 1% of my account on a trade with my stop loss and I trade the signals blindly, the maximum loss I will have on any trade is 0.5% (not including spreads and commissions).

Let me know if this helps!

TransparentTrader wrote: Mon Apr 03, 2023 4:17 am The Didi Index is definitely on my list of indicators I want to test on the Renko charts. Based on this one picture I'm tempted to give it a go this week and see how it compare to the 50/50 and 100/100 BSP settings.

If I see that it consistently gives fewer false signals during ranging markets as you say, it may be a viable replacement.

As for entering trades on the Renko charts, I had the following in mind with BSP 100/100: I set my stop loss at 4 bricks away from my entry point and gradually move up the stop loss to break-even and beyond if the trade continues to go in my desired direction.

I have only traded indices with this method and have not applied it towards other instruments (currencies, metals, oil, crypto, etc.).

With BSP 50/50 or 100/100, if you trade the signals blindly, the maximum loss you can have is two Renko bricks. Look at the picture you put in your post and you'll see what I mean.

Having a stop loss of 4 Renko bricks gives me a safeguard during moments of extreme volatility where price action will suddenly paint several blocks in a row because of how fast it's going. So If I risk a total of 1% of my account on a trade with my stop loss and I trade the signals blindly, the maximum loss I will have on any trade is 0.5% (not including spreads and commissions).

Let me know if this helps!

What brick size do you use?

ffsss wrote: Mon Apr 03, 2023 6:20 pm What brick size do you use?

Depends largely on the instrument. For US30, I am currently using a brick size setting of 5 points (ex. 30,000 -> 30,005).