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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.
Can you help answer these questions from other members on NexusFi?
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!
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!
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!
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!
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!
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!
