Best Renko Bar? - better vs median vs sbs vs wicked - NinjaTrader | futures io social day trading
futures io futures trading


Best Renko Bar? - better vs median vs sbs vs wicked
Updated: Views / Replies:79,941 / 203
Created: by rpm123 Attachments:46

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 46  
 
Thread Tools Search this Thread
 

Best Renko Bar? - better vs median vs sbs vs wicked

  #31 (permalink)
Market Wizard
Las Vegas, NV
 
Futures Experience: Advanced
Platform: Abacus, Slide Rule, HP-65, Metastock, TOS, NT
Favorite Futures: Futures
 
aligator's Avatar
 
Posts: 3,424 since Aug 2010
Thanks: 1,053 given, 5,822 received
Forum Reputation: Legendary


FrankFX View Post

Maybe it is a little off topic here, but for those who are interested in the "new" woodiebars:

I have compared the original $199pM "Woodiebars" Chatroom Chart with free MedianRenko Bars.


And what i have found out is really disappointing to me.

As you see in the attachment my template matches woodies pretty close. All you need is out in public for free.

Median Renko here at futures.io (formerly BMT)


ReversalBar_v2 here at futures.io (formerly BMT)

WoodieCCI comes with Ninja

Jeff`sCCI, I think from ThatManfromTexas - for coloring the CCI and the Background

Those useless by him so called "CCI Bands" are nothing else then ATR Volatility Bands you can purchase for $9,95 here at www.micro-trends.co.uk. and use them with the standard settings and tweak them a little.
Not on my chart on the right is the pricepanel but also available for free.

I am sorry to say and hoping i am wrong but to me, as a long time woodies chatroom follower, it seems the 33y professionell trader has turned in to a snakeoilsalesman (or he always was).


Frank

P.S. you know his trading mantras are: traders helping traders or a candle looses nothing by lighting another candle (you only have to pay $199p.M.)



Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Ditto! Also, I might add that those purple horizontal lines are the same as RenkoBrickClose indicator from futures.io (formerly BMT).

Reply With Quote
The following 3 users say Thank You to aligator for this post:
 
  #32 (permalink)
Membership Temporarily Revoked
siam, west coast andaman sea
 
Futures Experience: Master
Platform: ninja
Favorite Futures: gc, cl, tf, 6e
 
nakachalet's Avatar
 
Posts: 512 since Aug 2011
Thanks: 559 given, 200 received

Did we not just say HELLO at another party....?


FrankFX View Post

Maybe it is a little off topic here, but for those who are interested in the "new" woodiebars:

I have compared the original $199pM "Woodiebars" Chatroom Chart with free MedianRenko Bars.


And what i have found out is really disappointing to me.

As you see in the attachment my template matches woodies pretty close. All you need is out in public for free.

Median Renko here at futures.io (formerly BMT)


ReversalBar_v2 here at futures.io (formerly BMT)

WoodieCCI comes with Ninja

Jeff`sCCI, I think from ThatManfromTexas - for coloring the CCI and the Background

Those useless by him so called "CCI Bands" are nothing else then ATR Volatility Bands you can purchase for $9,95 here at www.micro-trends.co.uk. and use them with the standard settings and tweak them a little.
Not on my chart on the right is the pricepanel but also available for free.

I am sorry to say and hoping i am wrong but to me, as a long time woodies chatroom follower, it seems the 33y professionell trader has turned in to a snakeoilsalesman (or he always was).


Frank

P.S. you know his trading mantras are: traders helping traders or a candle looses nothing by lighting another candle (you only have to pay $199p.M.)



Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

hi again frank_?

good to see you here also.... LOL

you are the man....

much appreciate your exemplary detective work....

Reply With Quote
 
  #33 (permalink)
Elite Member
Lubbock TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Stage 5 Trading
Favorite Futures: CL
 
MWinfrey's Avatar
 
Posts: 1,879 since Jul 2009
Thanks: 1,449 given, 3,306 received


Nothing new in these revelations about Woodie. I owe him a lot from the beginning of my trading life but he's a character for sure.

Reply With Quote
 
  #34 (permalink)
Membership Temporarily Revoked
siam, west coast andaman sea
 
Futures Experience: Master
Platform: ninja
Favorite Futures: gc, cl, tf, 6e
 
nakachalet's Avatar
 
Posts: 512 since Aug 2011
Thanks: 559 given, 200 received

so you know tony then....?


MWinfrey View Post
Nothing new in these revelations about Woodie. I owe him a lot from the beginning of my trading life but he's a character for sure.

hi mwindrey

i also use cci extensively, much of which learned from woodie's free chat room which is now no longer in existence. (so you also know tonyuk, susan, nick and nicker et al....?)

the free chat room has been transformed into a fee paid room requiring about 200 usd per month to join to watch his woodiesbar in action.

and now that the fraud about woodiesbar has been discovered and exposed conclusively.... and most extensively by a frank_?.... it is a darn shame.... to have such a good intended beginning--traders helping traders.... and to culminate in such an ashamed concluding chapter....

all the good traders behind the scene and the moderators must be mightily disappointed in the shocking discovery.

Reply With Quote
 
  #35 (permalink)
Elite Member
Lubbock TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Stage 5 Trading
Favorite Futures: CL
 
MWinfrey's Avatar
 
Posts: 1,879 since Jul 2009
Thanks: 1,449 given, 3,306 received


nakachalet View Post
hi mwindrey

i also use cci extensively, much of which learned from woodie's free chat room which is now no longer in existence. (so you also know tonyuk, susan, nick and nicker et al....?)

the free chat room has been transformed into a fee paid room requiring about 200 usd per month to join to watch his woodiesbar in action.

and now that the fraud about woodiesbar has been discovered and exposed conclusively.... and most extensively by a frank_?.... it is a darn shame.... to have such a good intended beginning--traders helping traders.... and to culminate in such an ashamed concluding chapter....

all the good traders behind the scene and the moderators must be mightily disappointed in the shocking discovery.

yes i know them...this bar is NOT the first shocking discovery. that group goes through the same shocking discovery over and over again. the community redefines itself after each occurrence and keeps on going just like the eveready bunny (if you remember the battery commercial) or like the old Timex commercial, takes a licking and keeps on ticking.

Reply With Quote
The following 2 users say Thank You to MWinfrey for this post:
 
  #36 (permalink)
Elite Member
Arvada, Colorado
 
Futures Experience: Advanced
Platform: Amibroker / Ninja Trader / TOS
Broker/Data: Mirus Zenfire
Favorite Futures: TF 6E NQ
 
Posts: 194 since May 2010
Thanks: 259 given, 187 received

Well, this isn’t going to be “news” to anyone who has been studying/trading for any length of time, but by tweaking the parameters of most any indicator you will get the same signals/results.

Many vendors take commonly used indicators, change colors and parameters or change a line to a histogram or a histogram to a line and call it proprietary. This isn’t the case with ALL indicators, but in most cases it is.

What makes it “proprietary” is how they use it, and we pay for their knowledge and time for sharing it with us.

It’s not my intention to criticize or condone these actions of any vendor, but it is just a fact and it happens all the time.


I am not currently a member/participant in Woodies room, so the only time I've seen how he uses his new setup(s) is in a free webinar he did a couple of months ago.

Reply With Quote
The following 2 users say Thank You to brevco for this post:
 
  #37 (permalink)
Membership Temporarily Revoked
siam, west coast andaman sea
 
Futures Experience: Master
Platform: ninja
Favorite Futures: gc, cl, tf, 6e
 
nakachalet's Avatar
 
Posts: 512 since Aug 2011
Thanks: 559 given, 200 received

it boils down to DISCLOSURE....


brevco View Post
Well, this isn’t going to be “news” to anyone who has been studying/trading for any length of time, but by tweaking the parameters of most any indicator you will get the same signals/results.

Many vendors take commonly used indicators, change colors and parameters or change a line to a histogram or a histogram to a line and call it proprietary. This isn’t the case with ALL indicators, but in most cases it is.

What makes it “proprietary” is how they use it, and we pay for their knowledge and time for sharing it with us.

It’s not my intention to criticize or condone these actions of any vendor, but it is just a fact and it happens all the time.


I am not currently a member/participant in Woodies room, so the only time I've seen how he uses his new setup(s) is in a free webinar he did a couple of months ago.

i won't want to contest your premises but i do think they are incorrectly assumed and stated to the point of being overly general to include permissible fraudulent practices such as the case being cited by frank, who must have spent many hours before being able to take apart and put back together to show what frauds being perpetrated by w in his $200 (?) a month chatroom....

PLUS about $300 (?) a month for leasing that fraudulent setup to trade....

which runs up the whole total to about $500 per month on false pretense....

most persons around him perhaps are not aware of frank's expose on his fraud, i would guess many would just cite personal reasons and leave.... just like several moderators before them, who just departed with uncertain terms....

now, brevco, would you still consider such deceitful practices...

to defraud close friends, personal assistants--almost all do not have credentials nor certifications to act as trading signal generators, biz associates such as pfg brokerage house et al and in particular his very own fee paying members who trust him and follow him...., even though after a month or two in the fee paid room, most members are still not yet able to duplicate what the moderators were claiming to attain--breakeven plus 1, target 1, target 2.... ;

as acceptable and tolerable and excusable in trading industry....?

well, really, personally, it does not make one iota difference to me at all, but i just still have some traders-friends there who are devoided of any of w's frauds.... perhaps, this is a good opportunity for them to become independent traders like many others before them....

brevco, what do you think?.... did he fully disclose....? (and again this is none of my biz neither! sorry, w)


Last edited by nakachalet; September 10th, 2011 at 05:32 PM.
Reply With Quote
The following 2 users say Thank You to nakachalet for this post:
 
  #38 (permalink)
Elite Member
Arvada, Colorado
 
Futures Experience: Advanced
Platform: Amibroker / Ninja Trader / TOS
Broker/Data: Mirus Zenfire
Favorite Futures: TF 6E NQ
 
Posts: 194 since May 2010
Thanks: 259 given, 187 received

I have been around the trading arena for somewhere in the neighborhood of 15 years. It took me about 5 years before I started seeing the similarities with different indicators (okay, okay, I am "slow" to catch on sometimes). I have also purchased several and made comparisons, and it wasn't until after I did this a few times that I realized what was happening.

No, I don't think deceitful practices are acceptable at all, but I decided to be cautious about buying indicators after that, and since I have no control to change what is being done, I let it go. My goal is to make money trading and if I find deceitful activity with a vendor, I can chose to avoid that vendor and perhaps share my findings with other unsuspecting traders and let them make their own decision. I can't control what they do or the decisions they make (and don't want to).

I am pretty good at research, and I accidentally ran across Woodies Bars on the internet. I downloaded them, set them up on my chart, and compared them to what I was using at the time (Better Renko). I was shocked to find the same signals. I have/had a friend who is a moderator for Woodies chat room. I told him about this and he was interested to see what I found so I sent him the screenshot and asked for his feedback. I have not heard back and this has been several weeks ago. Since I have not received a response from my "friend" I have no doubt Woodie knows about this by now. This moderator is loyal to Woodie, I'm sure.

I contacted PFG concerning another matter and happened to mention that I found Woodie's bars on the Internet and they were no different than what I was already using. I was told at that time I was not supposed to have them for free and was supposed to lease them for $199 per month (the $199 was just for Woodie bars and did not include the cost of the chat room for $99 per month ---- almost $300 per month total). So, yes, PFG has been aware of this for at least a month. The link where I found the Woodie bars has since been disabled.

There is more money to be made in selling webinars/seminars and indicators than actual trading. I used to plan/arrange corporate meetings. If a typical 2-day seminar costs about $1,000, with 25 attendees, that is $25,000. Let's say the average cost per attendee runs about $100 per person (if they include one or two meals), after covering costs, (meeting room, equipment rental, etc.), the vendor will make at LEAST $22,500, sometimes more. This does not include what they might make selling their indicators, books, DVD's, etc.. If they do two seminars a month, that's $45,000!! How many seminars would a vendor have to do to make a decent living? If they are a good instructor and offer ongoing support after the seminar, to me, it is worth the cost, and $1,000 is cheap compared to a lot of trading seminars.

I have heard it said many times that if someone cannot trade, they will teach. I personally know someone who was/is a local business radio personality who promoted trading seminars and taught at some of them. He charged $500 per person. When I asked him how long he had been trading, he admitted to me that he could NOT trade, but he could "teach" it. Do you think I shelled out my hard earned $500? All I can say is, at least he was honest!





nakachalet View Post
i won't want to contest your premises but i do think they are incorrectly assumed and stated to the point of being overly general to include permissible fraudulent practices such as the case being cited by frank, who must have spent many hours before being able to take apart and put back together to show what frauds being perpetrated by w in his $200 (?) a month chatroom....

PLUS about $300 (?) a month for leasing that fraudulent setup to trade....

which runs up the whole total to about $500 per month on false pretense....

most persons around him perhaps are not aware of frank's expose on his fraud, i would guess many would just cite personal reasons and leave.... just like several moderators before them, who just departed with uncertain terms....

now, brevco, would you still consider such deceitful practices...

to defraud close friends, personal assistants--almost all do not have credentials nor certifications to act as trading signal generators, biz associates such as pfg brokerage house et al and in particular his very own fee paying members who trust him and follow him...., even though after a month or two in the fee paid room, most members are still not yet able to duplicate what the moderators were claiming to attain--breakeven plus 1, target 1, target 2.... ;

as acceptable and tolerable and excusable in trading industry....?

well, really, personally, it does not make one iota difference to me at all, but i just still have some traders-friends there who are devoided of any of w's frauds.... perhaps, this is a good opportunity for them to become independent traders like many others before them....

brevco, what do you think?.... did he fully disclose....? (and again this is none of my biz neither! sorry, w)


Reply With Quote
The following 4 users say Thank You to brevco for this post:
 
  #39 (permalink)
Membership Temporarily Revoked
siam, west coast andaman sea
 
Futures Experience: Master
Platform: ninja
Favorite Futures: gc, cl, tf, 6e
 
nakachalet's Avatar
 
Posts: 512 since Aug 2011
Thanks: 559 given, 200 received

brevco, thx much for responding, appreciate that very much.


brevco View Post
I have been around the trading arena for somewhere in the neighborhood of 15 years. It took me about 5 years before I started seeing the similarities with different indicators (okay, okay, I am "slow" to catch on sometimes). I have also purchased several and made comparisons, and it wasn't until after I did this a few times that I realized what was happening.

No, I don't think deceitful practices are acceptable at all, but I decided to be cautious about buying indicators after that, and since I have no control to change what is being done, I let it go. My goal is to make money trading and if I find deceitful activity with a vendor, I can chose to avoid that vendor and perhaps share my findings with other unsuspecting traders and let them make their own decision. I can't control what they do or the decisions they make (and don't want to).

I am pretty good at research, and I accidentally ran across Woodies Bars on the internet. I downloaded them, set them up on my chart, and compared them to what I was using at the time (Better Renko). I was shocked to find the same signals. I have/had a friend who is a moderator for Woodies chat room. I told him about this and he was interested to see what I found so I sent him the screenshot and asked for his feedback. I have not heard back and this has been several weeks ago. Since I have not received a response from my "friend" I have no doubt Woodie knows about this by now. This moderator is loyal to Woodie, I'm sure.

I contacted PFG concerning another matter and happened to mention that I found Woodie's bars on the Internet and they were no different than what I was already using. I was told at that time I was not supposed to have them for free and was supposed to lease them for $199 per month (the $199 was just for Woodie bars and did not include the cost of the chat room for $99 per month ---- almost $300 per month total). So, yes, PFG has been aware of this for at least a month. The link where I found the Woodie bars has since been disabled.

There is more money to be made in selling webinars/seminars and indicators than actual trading. I used to plan/arrange corporate meetings. If a typical 2-day seminar costs about $1,000, with 25 attendees, that is $25,000. Let's say the average cost per attendee runs about $100 per person (if they include one or two meals), after covering costs, (meeting room, equipment rental, etc.), the vendor will make at LEAST $22,500, sometimes more. This does not include what they might make selling their indicators, books, DVD's, etc.. If they do two seminars a month, that's $45,000!! How many seminars would a vendor have to do to make a decent living? If they are a good instructor and offer ongoing support after the seminar, to me, it is worth the cost, and $1,000 is cheap compared to a lot of trading seminars.

I have heard it said many times that if someone cannot trade, they will teach. I personally know someone who was/is a local business radio personality who promoted trading seminars and taught at some of them. He charged $500 per person. When I asked him how long he had been trading, he admitted to me that he could NOT trade, but he could "teach" it. Do you think I shelled out my hard earned $500? All I can say is, at least he was honest!

thx much for responding which is much appreciated.

a chatroom member just sent the following attachment which is self-revelation.

is it fraud or vendor ordinary?

Attached Thumbnails
Best Renko Bar? - better vs median vs sbs vs wicked-brevco-110911u-fraud-vendor-ordinary-002.png  
Reply With Quote
The following user says Thank You to nakachalet for this post:
 
  #40 (permalink)
Market Wizard
Las Vegas, NV
 
Futures Experience: Advanced
Platform: Abacus, Slide Rule, HP-65, Metastock, TOS, NT
Favorite Futures: Futures
 
aligator's Avatar
 
Posts: 3,424 since Aug 2010
Thanks: 1,053 given, 5,822 received
Forum Reputation: Legendary



brevco View Post

I am pretty good at research, and I accidentally ran across Woodies Bars on the internet. I downloaded them, set them up on my chart, and compared them to what I was using at the time (Better Renko). I was shocked to find the same signals. I have/had a friend who is a moderator for Woodies chat room. I told him about this and he was interested to see what I found so I sent him the screenshot and asked for his feedback. I have not heard back and this has been several weeks ago. Since I have not received a response from my "friend" I have no doubt Woodie knows about this by now. This moderator is loyal to Woodie, I'm sure.

Brevco,

I know who is your friend, and this friend has reasons to be loyal to w. Now that the scam has been discovered and is public, thanks to Frank, why don't you share the fraudulent and exposed "Median Renko Bares" file for public to see.


Last edited by aligator; September 11th, 2011 at 02:59 PM.
Reply With Quote
The following 2 users say Thank You to aligator for this post:

Reply



futures io > > > > Best Renko Bar? - better vs median vs sbs vs wicked

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
SBS-RENKO Warren B. NinjaTrader 5 February 14th, 2013 06:32 PM
Wicked Renko custom bar type for NT7 aslan NinjaTrader Programming 25 March 10th, 2012 11:13 AM
how to load Median renko and LineBreakwicked type bar kieuthu59 NinjaTrader 8 April 11th, 2011 03:56 PM
Median Renko bar masoud Traders Hideout 2 January 1st, 2011 09:32 PM
SBS Renko +PaintBar Warren B. NinjaTrader Programming 4 January 8th, 2010 01:39 PM


All times are GMT -4. The time now is 11:22 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-13 in 0.20 seconds with 40 queries on phoenix via your IP 54.227.51.103