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hey guys,
great concept + nice discusion here !
feel free to make also a thread with that in "Journals + Daily Charts"- section to show charts with trades + talk about it there.
Special Thanks to TheWizard !
I've attached a "233 tick vs. Renko" chart. As you can see, 4 tick Renko give many conflicting signals, whereas the 233 Tick (SMI2) indicator shows definite SHORT around 9:18 (Central time). Rjay is working on a better version (based on Renko). Will wait to hear from him & give it a 'test drive' once he has completed his tests version. For now, I will stay with 233 tick.
After all, it's what you learn AFTER you know it all, that counts!
Hi,
I would like to take some action on orders generated by NT, when using ChartTrader, ie. execute some piece of code of my own. (the documented NT functions OnOrderUpdate are triggered only in the case of a strategy)
I though one possibility would …
Test with PointO-Bars anstead of range or renko. You will need a good size of all this bartypes. i use on 233 tick only 8 range or 8 point bar.
This will give you a cleaner chart.
WH,
Thank you for the suggestion. I will test 233 tick against 8 Point-O and 8 Range to see how it looks. I have tried HeikenAshi before (not RHeikenAshi, however) and found it to be a bit misleading. It has not worked well for me, but I may give it another look.
After all, it's what you learn AFTER you know it all, that counts!
Yeah, I'm seeing some of that today, too. I can't take the blame for programming it, but I've seen in in a lot of 'cycle' type indicators. It appears that when the color change first occurs that it's generally a signal of a directional change, but.... not always. You have to watch closely & follow the price. SMI2 doesn't seem to 'color-change' quite as much as the DoubleMAPaint and LBR310. It's still better than what I was using, ,tho'. Had the same problem with Scalper & CycleIdentifier (They always look good at the end of the day, however!). maybe you could take a look & see if there's a way to stop them from 're-painting' ? ?
After all, it's what you learn AFTER you know it all, that counts!
On my template, I have the DoubleMAPaint 'Paintbars = false'. I set the SMI2 to 'Paintbars = true'. Try that & see if it helps. I DID notice the DoubleMAPaint indicator doing that to the bars. Didn't like it. See if using SMI2 to paint the bars helps somewhat. Let me know what you think. I may have to tinker around some more.
After all, it's what you learn AFTER you know it all, that counts!
Wizard, We must repect your hardwork and dedication, so many thanks to Big Mike,Rjay and the ADXVMA ,Keith for their strenious efforts, honestly i have ONE big fear about this thread...? If this set up is working nicely and profitably we should't try to change it except if necessary, as being said" too much analysis is paralysis" we should keep on trading under various market conditions and keep log of every trade till we get most suiatable work out,.233 tick cart is also best derived value.
One more question Wizard? Does this set work fine on YM?
Thanks for update on renko.
Yes. It appears to work as well as TF. Since my broker, Interactive Brokers, does not supply historical TICK data (I can only get tick data if I have an open chart) and I did not have a chart created for YM, I had to create one (just now) & change the period to 5 minute (as close to 233 Tick as I could get) in order to populate the chart with price data. See the attached screen shot as an example. Thanks for your inquiry.
After all, it's what you learn AFTER you know it all, that counts!
