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Re: Want to make money using renko? Simple and powerfull strategy

Posted: Fri Aug 05, 2022 11:05 am
by Chickenspicy
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Re: Want to make money using renko? Simple and powerfull strategy

Posted: Fri Aug 05, 2022 11:23 am
by Chickenspicy
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Re: Want to make money using renko? Simple and powerfull strategy

Posted: Fri Aug 05, 2022 4:13 pm
by Ogee
chickensword wrote: Fri Aug 05, 2022 8:55 am im testing further settings we all know to big and too small pip box sizes are not good
so im trying to find balance and with turbo seems more effective

minute has more accurate tick data of course but id rather have less tick accuracy then giant spreads

hasnt repainted for me yet like last time
To see renko repainting you need to run it for a time and take a picture then reset by going to the timed chart you put it on and highlight a number then press ok and then compare the pic to the updated chart. You will sometime see some bars missing where price has gone sideways around the same range as your brick size so the chart looks cleaner than before. MT4 recalculates historic bars on each reset (see bottom pic).

Gaps are a fact of life and doesn't matter what chart you use, if someone buys a whole hanble then price just jumps to the next one and in a renko chart x number of bricks are printed all at once and on a time based chart it fills the candle all at once.

That's not the same as a bad renko chart builder that has lots of long tails because it failed to fill with bricks.



Re: Want to make money using renko? Simple and powerfull strategy

Posted: Sat Aug 06, 2022 4:14 am
by icman
chickensword wrote: Fri Aug 05, 2022 9:54 am what else is? all i know is heikin and renko
Try Range Bars. I like them a lot, probably more than renko bars.

Re: Want to make money using renko? Simple and powerfull strategy

Posted: Sun Aug 07, 2022 12:46 am
by bjork
icman wrote: Sat Aug 06, 2022 4:14 am Try Range Bars. I like them a lot, probably more than renko bars.
You mean buildt into MT4 "Bar charts"?

Re: Want to make money using renko? Simple and powerfull strategy

Posted: Mon Aug 08, 2022 9:24 pm
by icman
bjork wrote: Sun Aug 07, 2022 12:46 am You mean buildt into MT4 "Bar charts"?
What I mean, you can use an indicator to create Range Bars instead of Renko bars.
If you want you can use Omnia Range Bars indicator to try it out. They have a 2 week free trial.