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Thread: NITRO Variations for Open-minded Traders

  1. #1
    With Edge currently under investigation, all people trading Nitro need a new residence. Some people don't want to obey hard and fast rules dictated from on high.

    Those who wish to adhere strictly to Edge's egy must head to 4xstar's thread - https://www.forexsoutheast.asia/fore...-breakout.html

    Those who wish to maintain an open mind, and discover ways of enhancing their trading, whether it be with sticking with the original rules or formulating enhanced egies must post in here.

    Money management is important, and one should have a trading program. That said, 1%, 2%, 3% profit per day - whatever it's is up to you. Similarly, if your reading of this PA shows that you could ride the momentum for longer then by all means do so.

    There's not any ideal way in Foreign Exchange. Just as there is not any ideal way in life.

    Onward using the pipping!

  2. #2
    Quote Originally Posted by ;
    Thank you for all the information. It's not really that hard, once you find it out, the way to place renko charts into mt4 back-tester, but is rather waste of time .
    That is why I also think ma crosses have a large advantage over zig-zag, because you know from my zig-zag on renko ea thread, I've looked at quite a few understand that most tend to snore, while the close ma crosses, don't have the exact same issue. Probably why I've been looking more closely at Chris's ea nowadays, though it does not use ma cross, the pa cross it utilizes is very close to your own...
    Hello!!
    I am analyzing with a few tools a larger amount of renko data. . .and I am finding items. . .that perhaps we can adapt to trading...
    For example...I am analyzing the likelihood of continuation of a fashion...I am trying very every indy. . .moving averages, hour limits. . .and until today. . .there is notning...I repeat. . .nothing that at the lengthy time can push the chances over 70/75percent if we speak of scalping. . .the reality is that renko without indys has the exact same probability. . .and each indy can do merely overoptimize that the syste....but I think I will go deeper with this in a new thread possibly...

    As per ma crosses. . .it's like with other charts. . .it will perform well during trends but it will endure during ranging periods..anyway that the very best combination I've discovered is the 5/20 ma cross...

    When we speak of short-term trading (not scalping) that the ideal solution I've discovered is using:

    10pips bricks on EURJPY
    TRIX setted into 9
    Wait for a TRIX 0 cross (it occurs on average once every 1 or two )
    Wait for a close of the brick. . .the close has to maintain the direction of the TRIX cross, if it's not. . .do not trade.
    Enter with 20 SL and 30 TP
    This egy will give you a 55% gain rate on average. . .with a favorable risk/reward. . .it's not a fast gain egy, and the trades don't happen. . .but it's fairly stable...
    With a 20 SL and 20 TP the win rate will be 65%...

    About scalping. . .as I stated I am finding some very interesting items...
    I think we could reach a near to 70% hit rate with a 1:1 or 1:2 risk/reward. . .and this would be quite great...
    but I reserve to do some other research...
    The one thing that I am convinced is that a 90% hit rate is an utopia. . .it can happen a while during a month, it may happen with an overoptimization of the system. . .it can happen with an individual trader filter if the trader is quite great....but not at the very long time...

  3. #3
    Justme.

    Whatever reason you're using a M10 offline chart for your Renko. Everyone else appears to use the offline chart and don't seem to have issues with the wicks.

    Just a thought.

    Dave W

  4. #4
    Quote Originally Posted by ;
    Regardless of what type of data is being used for calculation, all wicks are shifted to the right, thus belong to some'incorrect' bricks. May be this issue is related to constraints of MT4... might be not... And may be Michal could make it clear?

    The top for the reddish brick is accurate. It had to reach 133.90 before it could be shaped as a blue brick. Not only did it not reach 133.90, it retraced over 28 pips to form the reddish brick. It then reversed over 20 pips to form the blue brick.

  5. #5
    Quote Originally Posted by ;
    Justme.

    Any reason you are using a M10 offline chart for your Renko. Everyone seems to be using the M2 offline chart and do not seem to have problems with the wicks.

    Just a thought.

    Dave W
    It really doesn't matter. M2, M10, M33 or what else... All the distinction is the file name and that's all. I'm familiar with M10 for boxes that are 10-tick, can create M2 with two pips range. Just a habit

  6. #6
    Quote Originally Posted by ;
    The large for the red brick is correct. It had to reach 133.90 until it might be formed as a blue brick. Not only did it not attain 133.90, it retraced over 28 pips to form the red brick. It then reversed over 20 pips to create the brick.
    You're right. While blue box was still in place, but that was reached - .

  7. #7
    Quote Originally Posted by ;
    You are right. But that has been reached while previous box was still in place - that's what I meant.
    I see the problem. On the renko chart on the left, notice that the brick just possess the tails in one way, with the exception of the current forming brick. Bricks and brick have tails and tails pointing 14, respectively. The cause of this is because once a blue brick's limit is reached a new brick has been begun. Any price movement over that would be shown on that brick. When you examine your chart on the right side, that brick could have been formed on the first bar in your corresponding blue box. The 133.88 high has been attained 2 bars later, which eventually became the tail of this reddish brick. It is and the issue appears to occur in the change bricks just.

  8. #8
    Quote Originally Posted by ;
    Regardless of what sort of information is being used for calculation, all wicks are changed to the right, so belong to a'wrong' bricks. May be this issue is related to constraints of MT4... may be not... And may be Michal could make it clear?

    Hello Justme,
    No more the wicks are on the Right bricks! Bear in mind that for an upward brick, there can only be a wick; for a down brick there can be an wick.
    The wicks were shaped after the bricks in all the cases you show You just have the colored blocks in your non-Renko chart in the wrong places.

    Ian

    Edit: I see this is already explained.

  9. #9
    Maybe some of you are that the wicks have something. They do not!

    The bricks are formed (or not) by the single closing price of the candle (i.e. M1, M2, M5 or whatever) at the time period you are using. The brick should just be formed on the tick on the time period boundary if tic information is being used. The wicks must be calculated from the high and low price that happened if you get me, that the brick was valid.

    This means that the wicks to get renko can simply be calculated after the brick is closed that is at precisely the exact same tick as the following brick is formed. Maybe this is where the confusion is.

    JustMe, you do not have to do anything with all the wicks as the candles show that info.

    It is quite simple really.

    Cheers,
    John.

  10. #10
    Quote Originally Posted by ;
    Hi Justme,
    No That the wicks are on the correct bricks! Remember that for an up brick, there may be a comforter that is down; to get a brick there may be an up wick.
    The wicks were shaped after the bricks in most of the cases you show You just have the coloured blocks in your non-Renko chart in the wrong places.

    Ian

    Edit: I find that this has already been explained.
    Every block on your non-Renko (as well as on the renko) chart is shaped as soon as conditions are met -- price range surpasses by a BoxSize (or is equivalent to it) current block's high or low. And those cubes are shaped in real time. While conditions aren't met with the current block is'busy'. It is a classic approach. If you compare cubes formed those shaped from the indy and by the script you can see they are identical. The difference lies in the highs and lows. Taking into account that'renko using wicks' is exotic, '' I think that it's hard to choose what is'right' and what's'wrong' here. Let us leave it as it is.

    Below is commercial renko chart with all the indior on it, both set to 10 pips range.

    p.s. please excuse me my 'ukrainian english'


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