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Holy Grail
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Created: by TheWizard Attachments:119

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Holy Grail

  #41 (permalink)
Elite Member
Arcata, CA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: index futures, oil
 
Saroj's Avatar
 
Posts: 482 since Jun 2009
Thanks: 223 given, 389 received

hmmm... could be tough in a chop with a tight range... I will put up your template in a couple of TF's and watch it... it might work out that it will simply keep you in the same direction as you were in going into the chop and then resolve itself on the "right side of the market" when the chop ends.

 
  #42 (permalink)
Elite Member
Alpharetta, GA
 
Futures Experience: Intermediate
Platform: ninja
Broker/Data: Mirus / Zenfire
Favorite Futures: ES
 
Todd's Avatar
 
Posts: 257 since Jun 2009
Thanks: 28 given, 40 received

RJay,

I saw your chart. What is the difference between a Renko bar and a Renko Medium bar?
What instrument is that in your chart - TF?

Todd

 
  #43 (permalink)
 Vendor: www.innovative-trading-solutions-online.com 
Hartford, CT. USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: AMP/CQG, Kinetick
Favorite Futures: TF
 
RJay's Avatar
 
Posts: 677 since Jun 2009
Thanks: 726 given, 740 received


Hi Todd,

I am attempting to develop a new generation of charts that have indicators as well as other options incorporated into the bar chart bars.

Needless to say this is a business venture on my part.

Many, many hours of hard work and fustration over the last 8 months.

I knew my day job was comming to an end a year ago.

I filed for unemployment this morning.

To answer your questions,

I am using ES for research purposes.

This chart uses two range values in its bar generation.

Classic Renko uses only one.

RJay


Last edited by RJay; August 4th, 2009 at 09:34 AM.
 
  #44 (permalink)
Elite Member
Alpharetta, GA
 
Futures Experience: Intermediate
Platform: ninja
Broker/Data: Mirus / Zenfire
Favorite Futures: ES
 
Todd's Avatar
 
Posts: 257 since Jun 2009
Thanks: 28 given, 40 received

I wish you well on your new adventure...

When you have something you think I might want to look at in the way of new bar types, please let me know.

Thanks,
Todd

 
  #45 (permalink)
Market Wizard
Houston, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Optimus Futures
Favorite Futures: 6E
 
TheWizard's Avatar
 
Posts: 1,711 since Jun 2009
Thanks: 509 given, 4,072 received


Saroj View Post
hmmm... could be tough in a chop with a tight range... I will put up your template in a couple of TF's and watch it... it might work out that it will simply keep you in the same direction as you were in going into the chop and then resolve itself on the "right side of the market" when the chop ends.

You're right! I have found that when congestion happens, price usually resolves & continues in the same direction in which it was headed. You just have to be a bit brave & not put your stop too close.

After all, it's what you learn AFTER you know it all, that counts!
 
  #46 (permalink)
Market Wizard
Houston, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Optimus Futures
Favorite Futures: 6E
 
TheWizard's Avatar
 
Posts: 1,711 since Jun 2009
Thanks: 509 given, 4,072 received


RJay View Post
Hi Todd,

I am attempting to develop a new generation of charts that have indicators as well as other options incorporated into the bar chart bars.

Needless to say this is a business venture on my part.

Many, many hours of hard work and fustration over the last 8 months.

I knew my day job was comming to an end a year ago.

I filed for unemployment this morning.

To answer your questions,

I am using ES for research purposes.

RenkoMedian chart uses two range values in its bar generation.

Classic Renko uses only one.

RJay

Rjay, That's what I had been thinking for a long time. Let me see if I can explain. I was always frustrated by the fact that we're locked into looking at price as a static thing rather than fluid. (i.e. 1,2,3,5,10 min chart, range, tick, etc). I would like to see it as a sine wave - constantly flowing. You just hop on in the direction of the flow & hop off when the flow changes, (or change direction with it). I think it sounds as though you're heading in that direction - by breaking 1 Renko bar into 2. Now think a little more outside the box & see if it can't be split into 4 or 6, or 8. I know, that sounds just like going from a 10 min to a 1 min chart. - not quite what I had intended to convey - something along the lines of NO time constraints (seconds, ticks, minutes, hours, days, etc). Hope I communicated it effectively. Just a day-dream for now, since I'm not a programmer (was once, eventually came to hate it & vowed never to return).

After all, it's what you learn AFTER you know it all, that counts!
 
  #47 (permalink)
Market Wizard
Houston, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Optimus Futures
Favorite Futures: 6E
 
TheWizard's Avatar
 
Posts: 1,711 since Jun 2009
Thanks: 509 given, 4,072 received


RJay View Post
Hi Todd,

I am attempting to develop a new generation of charts that have indicators as well as other options incorporated into the bar chart bars.

Needless to say this is a business venture on my part.

Many, many hours of hard work and fustration over the last 8 months.

I knew my day job was comming to an end a year ago.

I filed for unemployment this morning.

To answer your questions,

I am using ES for research purposes.

RenkoMedian chart uses two range values in its bar generation.

Classic Renko uses only one.

RJay

Rjay,

Sorry to hear about the loss of your job. As they say 'as one door closes, another opens'. Could be this is the moment that's been awaiting your arrival. Best wishes. You're not alone.

After all, it's what you learn AFTER you know it all, that counts!
 
  #48 (permalink)
Elite Member
toronto
 
Futures Experience: Intermediate
Platform: Nt,meta4
Broker/Data: zen fire
Favorite Futures: forex, futures
 
Posts: 30 since Jul 2009
Thanks: 1 given, 6 received

Wizard, The great, amazing set of charts, i used today and made like $540,needs some common sence to use your charts, i like the dynamic S/R, great help, i used quickpop in the past, they use two different volume charts and your indicators are somewhat similar to them, also i used EOT package, but netshell great stuff, how you created this all?I am into forex business for more than 3 years now but i enjoyed your thought process,In another thread you have mentioned about renko charts, what do you think renko are more precise as compare to tick233 bcz to me it is working fine for TF, attcahed is todays result,
Thanks once again!

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  #49 (permalink)
Market Wizard
Houston, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Optimus Futures
Favorite Futures: 6E
 
TheWizard's Avatar
 
Posts: 1,711 since Jun 2009
Thanks: 509 given, 4,072 received


mueen2419 View Post
Wizard, The great, amazing set of charts, i used today and made like $540,needs some common sence to use your charts, i like the dynamic S/R, great help, i used quickpop in the past, they use two different volume charts and your indicators are somewhat similar to them, also i used EOT package, but netshell great stuff, how you created this all?I am into forex business for more than 3 years now but i enjoyed your thought process,In another thread you have mentioned about renko charts, what do you think renko are more precise as compare to tick233 bcz to me it is working fine for TF, attcahed is todays result,
Thanks once again!

Mueen,

Renko bars are an interesting concept, but I did not find them very practical for trading since price stays static (at one point) until the Renko 'range' has been violated, then you see price jump dramatically (up or down). It looks nice, I just could not find a way to profitably trade Renko charts. Thank you for your interest. Good trading!

After all, it's what you learn AFTER you know it all, that counts!
 
  #50 (permalink)
Market Wizard
Houston, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Optimus Futures
Favorite Futures: 6E
 
TheWizard's Avatar
 
Posts: 1,711 since Jun 2009
Thanks: 509 given, 4,072 received



TheWizard View Post
Mueen,

Renko bars are an interesting concept, but I did not find them very practical for trading since price stays static (at one point) until the Renko 'range' has been violated, then you see price jump dramatically (up or down). It looks nice, I just could not find a way to profitably trade Renko charts. Thank you for your interest. Good trading!

Mueen,
In response to your question of how I created this. I didn't actually create anything. I can't take credit for any of it, other than assembling the indicators all together in one chart. Most of the ideas were indicators borrowed from BigMike's forum members Sharky, and I think one of the indicators / indicator ideas came from Rjay and the ADXVMA as well as the DoubleMaPaint came from Sharky, but the particular suggestion of how to set it / use it may have come from either Sharky or BigMike (can't remember), Keith posted (NinjaTrader Indicator download section) the LBR310 indicator and Todd posted the SMI2 indicator. I just put the best of the best together in a 233 Tick chart & continued changing settings of the indicators until it worked best. I may continue playing around with the settings to micro-adjust them, if possible.

After all, it's what you learn AFTER you know it all, that counts!

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