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All you need
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All you need

  #1581 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
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yroyal View Post
Cory, read carefully. I said resultant 'Range' bar. The charts you have shown are SBSrenko bars, not Range bars.

The SBSrenko bars can be max upto 3 times your set value. A 4 tick SBSrenko bar can extend upto 12 ticks.

I see, you talk about renko in the beginning then switch to range bar without mentioning the switch.

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  #1582 (permalink)
Elite Member
India
 
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Yes true, it may lead to confusion :-)

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  #1583 (permalink)
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India
 
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I was a happy man yesterday :-) 3 fair winners and one small loser.

Note that I am using a slower chart, to capture the whole major swings.

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  #1584 (permalink)
Trade with the flow
Paris, France
 
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yroyal View Post
I was a happy man yesterday :-) 3 fair winners and one small loser.

Note that I am using a slower chart, to capture the whole major swings.

I think I should trade this market! Maybe I'm using too low of a tick chart setting but euro & CL & ES don't move so clean.

I'm curious - how much is 200 ticks worth on your instrument?

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  #1585 (permalink)
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Euro, CL, ES all should look clean on a slower chart. Liquid markets behave the same world over. There may be differences in volatility though. Any instrument with an average daily volatility between 1.5 to 3% should look clean on charts.

Instruments above 3% are generally riskier to trade.

I trade the index futures(Nifty) of the National Stock Exchange of India. Tick size is 0.05. So 200 ticks is equal to 10 points on the Nifty.

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  #1586 (permalink)
Trade with the flow
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yroyal View Post
Euro, CL, ES all should look clean on a slower chart. Liquid markets behave the same world over. There may be differences in volatility though. Any instrument with an average daily volatility between 1.5 to 3% should look clean on charts.

Instruments above 3% are generally riskier to trade.

I trade the index futures(Nifty) of the National Stock Exchange of India. Tick size is 0.05. So 200 ticks is equal to 10 points on the Nifty.

I think I was using too low of a tick settings. I'm still experimenting but the higher the tick setting the better it seems to work, but the catch is the stop is bigger.

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  #1587 (permalink)
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If you are inclined to use a shorter interval chart for smaller stops, then you need an additional filter to trade in the direction of the dominant trend.

The StepMA is a good tool to show you the main trend. So you can take trades only in that direction and avoid bad trades.

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  #1588 (permalink)
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yroyal View Post
Cunparis, dont try to automate your strategy, instead use the medianrenko for manual visual trading. I personally use the Eco2new indicator by Sharky. It works especially great on MedianRenko charts.

The paintbars have awesome accuracy and the default settings will work on most instruments. Its a wonderful indicator gifted by Sharky to the forum.

Hi yroyal

I download the #1538 post attached medianrenko indicator.
After imported it I dont find any indicator in column.
How to set it up?

Thanks!

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  #1589 (permalink)
Trade with the flow
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roadshow View Post
Hi yroyal

I download the #1538 post attached medianrenko indicator.
After imported it I dont find any indicator in column.
How to set it up?

Thanks!

You have to copy it to indicators, compile it, then move it to the type directory (same level as indicators) and I believe restart NT.

There is a zip version in the median renko thread in the elite forum.

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  #1590 (permalink)
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Arizona
 
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cunparis View Post
I think I was using too low of a tick settings. I'm still experimenting but the higher the tick setting the better it seems to work, but the catch is the stop is bigger.

Cunparis,

I agree that higher tick settings give smoother charts, with much larger stops. I have found that it seems to work to trade from the small chart ONLY in the direction of the larger chart.

Hope this helps.

Mahlon

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