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FlexRenko in day trading


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FlexRenko in day trading

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  #81 (permalink)
Všnersborg Sweden
 
Experience: Beginner
Platform: Sierra
Broker: Transact
Trading: YM,EMD,DAX,CL,CG
 
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Posts: 396 since Jan 2013
Thanks: 559 given, 141 received


Janos View Post
Hi @Outlander !

I just want to ask how can you put the time to the top left corner on the chart ?

Thanks !

I use Sierra and they have an indicator called clock. Analysis/studies/add custom study/user contributed studys/clock

Regards Outlander

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  #82 (permalink)
Všnersborg Sweden
 
Experience: Beginner
Platform: Sierra
Broker: Transact
Trading: YM,EMD,DAX,CL,CG
 
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Posts: 396 since Jan 2013
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YM so far Regards Outlander

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  #83 (permalink)
Všnersborg Sweden
 
Experience: Beginner
Platform: Sierra
Broker: Transact
Trading: YM,EMD,DAX,CL,CG
 
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Posts: 396 since Jan 2013
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YM so far. Had a nice run up at the open. But after that it went all the way down and took out the reversal point and is now in down mode. Regards Outlander

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  #84 (permalink)
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
 
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Outlander View Post
YM so far. Had a nice run up at the open. But after that it went all the way down and took out the reversal point and is now in down mode. Regards Outlander

yes I also have ym in down mode

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  #85 (permalink)
Všnersborg Sweden
 
Experience: Beginner
Platform: Sierra
Broker: Transact
Trading: YM,EMD,DAX,CL,CG
 
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cory View Post
yes I also have ym in down mode

Nice your chart looks better when mine. Regards Outlander

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  #86 (permalink)
NYC + NY / USA
 
Experience: Advanced
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
 
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Posts: 798 since Oct 2009

what I don't like about these bar types are the artificial bars that it adds just to make the picture seem uniform,

the easiest way I could prove this, is to suggest charting DX (a thin traded contract) on 2 different bar intervals, such as 1min, and then, say 37 tick, and see the gaps,

then do the same on Unirenko 2, or even down to 1 (that means on every tick change) and see how perfect the stair step pattern shows, almost similar to this YM chart

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  #87 (permalink)
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
 
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Posts: 6,000 since Jun 2009
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kronie View Post
what I don't like about these bar types are the artificial bars that it adds just to make the picture seem uniform,

the easiest way I could prove this, is to suggest charting DX (a thin traded contract) on 2 different bar intervals, such as 1min, and then, say 37 tick, and see the gaps,

then do the same on Unirenko 2, or even down to 1 (that means on every tick change) and see how perfect the stair step pattern shows, almost similar to this YM chart

renko is artificial bars. There is no way around this fact.

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  #88 (permalink)
Všnersborg Sweden
 
Experience: Beginner
Platform: Sierra
Broker: Transact
Trading: YM,EMD,DAX,CL,CG
 
Outlander's Avatar
 
Posts: 396 since Jan 2013
Thanks: 559 given, 141 received


kronie View Post
what I don't like about these bar types are the artificial bars that it adds just to make the picture seem uniform,

the easiest way I could prove this, is to suggest charting DX (a thin traded contract) on 2 different bar intervals, such as 1min, and then, say 37 tick, and see the gaps,

then do the same on Unirenko 2, or even down to 1 (that means on every tick change) and see how perfect the stair step pattern shows, almost similar to this YM chart

Thats what I like about FlexRenko is that the charts look nice and takes out a lot of noise. As they have the true high and low I se no problem with using them. But the best part is that they are not time bars and only on price. Time is due to my opinion of nu use in intraday trading. They only ad noise to the chart in a slow sideways market. With FlexRenko you dont get any new bars in that kind of market. Regards Outlander

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  #89 (permalink)
Všnersborg Sweden
 
Experience: Beginner
Platform: Sierra
Broker: Transact
Trading: YM,EMD,DAX,CL,CG
 
Outlander's Avatar
 
Posts: 396 since Jan 2013
Thanks: 559 given, 141 received

DAX so far. Regards Outlander

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  #90 (permalink)
Všnersborg Sweden
 
Experience: Beginner
Platform: Sierra
Broker: Transact
Trading: YM,EMD,DAX,CL,CG
 
Outlander's Avatar
 
Posts: 396 since Jan 2013
Thanks: 559 given, 141 received


I got a PM today and after I answered it I thought it would be best if I post some of the answers to clear things out for all looking at my posts. The question I got was that it seems like I always make good trades and if they are live or sim. I am not some kind of market wizard with a crystal ball but I wish I had one. So I am trying to use Flex Renko as my crystal ball and it does not always give me the right answers. As I wrote in my first post my goal was to talk about how to use Flex Renko and not show how good trader I am. I am a small time trader with health problems that forced me to sell my company and retire. I live on my farm that I got from my father. I am 60 years old and have lived on the farm almost all of my life. So day trading is my hobby and keep me busy during the days. Flex Renko is quite new in Sierra so I am still getting used to it. The first time I looked at these new bars I thought it was junk and no use. I had used Renko in the past and liked them so I looked at these strange bars again and decide to try them on. At the moment I only trade YM and EMD live. All other chart are in sim mode. So I appalogize if I got people of this site thinking I was a market wizard. I ahev loosing day like the rest of us.
Regards Outlander

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