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All you need
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Created: by Jeff Castille Attachments:534

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All you need

  #1561 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
 
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lolu View Post
yroyal,

The tick size for NIFTY is set to 0.05 as shown in your last snapshot. So, 200 x 0.05 = 10. So, I expect your chart to be "MedianRenko 10 Ticks", but it is "MedianRenko 200 Ticks".

For example, in my own case, tick size for 6E is 0.0001; what would be the "MedianRenko" tick setting ? When I set it to "MedianRenko 100 Ticks" with "Days back/Bars back" set between 30 days - 90 days, I have just 3 - 5 bars.

Please, what am I not understanding in all these ?

Lolu

I don't understand what you're trying to do with the calculations. Just try different bar settings and see how you like. For CL I've tried 8,10,12,14,16,20. Still playing around to see what I like best. No right or wrong, no magic formula. Just trial & error.

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  #1562 (permalink)
Elite Member
Lagos, Nigeria
 
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cunparis View Post
I don't understand what you're trying to do with the calculations. Just try different bar settings and see how you like. For CL I've tried 8,10,12,14,16,20. Still playing around to see what I like best. No right or wrong, no magic formula. Just trial & error.

cunparis,

I don't do trial and error !!!!! I'm not looking for any magic formula !!!!!! I'm not looking for rights or wrongs !!!!! I don't depend on LUCK because there is NOTHING as such. I want to profitably trade as a serious business, NOT part-time.

yroyal had earlier responded to how he arrived at his "MedianRenko 200" setting. I'm curious to know.

You are offensive in your language to me, I deserve an apology from you.

Lolu

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  #1563 (permalink)
Elite Member
MIAMI,FL
 
Futures Experience: Advanced
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lolu hes not being offensive he's just has his personality and we are all working together with different minds and different understanding of the big picture,i have my personality that helps me and others and you have your's i dont think we should be having to apoligize to each other we are trying our best to help each other but sometimes you have to trial and error things i do it for hrs at a time days on end to come up with the best advice for you guys...sharky

KILLING THE MARKETS DAILY
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  #1564 (permalink)
Trade with the flow
Paris, France
 
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yroyal View Post
Put a STOP to your Stops !

I thought about this and I have lost a lot of money by not using stops so now I use them religiously. But, I put them where they're not as likely to be hit. And I try to bail before my stop is hit, based on the price action & candles.

In my usual trading I go for turning points. So I'd like to try using renko to do the same. So I will look to go short when the eco changes color and put my stop above/below the swing high/low.

Still working out the details. So far it seems to work better than using minute and/or tick charts.

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  #1565 (permalink)
Elite Member
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Posts: 1,060 since Jun 2009
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im working on some new paint bars that should help alittle cunparis just need a week or so more to finish them got so many complicated projects that zeller and richard and i are working on its taking us a long time to finish one,but the new sharkfin will be nicer than the first one...sharky

KILLING THE MARKETS DAILY
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  #1566 (permalink)
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Lagos, Nigeria
 
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sharky View Post
lolu hes not being offensive he's just has his personality and we are all working together with different minds and different understanding of the big picture,i have my personality that helps me and others and you have your's i dont think we should be having to apoligize to each other we are trying our best to help each other but sometimes you have to trial and error things i do it for hrs at a time days on end to come up with the best advice for you guys...sharky

sharky,

Thanks for your words.

Lolu

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  #1567 (permalink)
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your welcome my friend its just this crap is frustrating and i put hundreds of hrs into trial and error so you guys dont have to but sometimes there is no way around it lol and you have too also it sucks but thats the reality of it i promise we wont stop till we get you guys all trading well...sharky

KILLING THE MARKETS DAILY
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  #1568 (permalink)
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sharky View Post
your welcome my friend its just this crap is frustrating and i put hundreds of hrs into trial and error so you guys dont have to but sometimes there is no way around it lol and you have too also it sucks but thats the reality of it i promise we wont stop till we get you guys all trading well...sharky

Hey sharky, nice to see you posting again, I know you guys are busy, but I for one miss your posts.

Jeff

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  #1569 (permalink)
Market Wizard
Houston, TX
 
Futures Experience: Intermediate
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Peter2150 View Post
Only issue with MedianRenko charts is the author of the indicator says there are problems with them and he recommends not using them.

Pete

Peter, If I read Roonius' post correctly, I think he was saying HE didn't like the way it was calculating the "close" of bar, but "other than that, It works just fine". I've been using them for a long time & must agree they 'smooth' out a awful lot of noise you find on other type charts (Min, Range, Point-o, etc.).

After all, it's what you learn AFTER you know it all, that counts!
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  #1570 (permalink)
Market Wizard
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TheWizard View Post
Peter, If I read Roonius' post correctly, I think he was saying HE didn't like the way it was calculating the "close" of bar, but "other than that, It works just fine". I've been using them for a long time & must agree they 'smooth' out a awful lot of noise you find on other type charts (Min, Range, Point-o, etc.).


roonius View Post
to clear all "maybes"...

I simply don't like "the open" of the medianrenko - it reperesents the price which is not the actual open price. And if brick is set to odd number (3, 5 etc.), the open will be between the ticks (for example 1000.125 on ES). This is only reason I dropped it and not supporting it.

Other than that, it works as expected.

I am using myself SbSRenko (Side by Side), which is similar to EdsRenko, but Eds Renko does not calculate the volume correctly (at least it did not when I checked it last time).

he said the open.

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