Sir is it rational to back test a renko strategy in D timeframe as there will be plenty of repainting issue. In real market stop losses would have hit, but you cannot see that in bigger timeframes. Same brick size with shorter time frames to avoid this would be helpful. What do you say?
This is a great idea. I am experimenting with something similar using Super Trend & MACD which I hope to use across asset classes - Index, Stocks, Forex, Commodities. A couple of questions - why Stochastics and an offset Bollinger Band? The role of the EMAs is unclear too. But why are you still using Absolute Box Sizes? Take a look at Log or percentage based block sizing. That is applicable across markets, assets and price levels. A 0.25% Brick size works at Rs 100 as well as Rs 50,000. The other major advantage of using log intervals is the ability to smoothly increase the brick size to say 1% or 3% on the same data frequency - 1 min / 1 hr / 1 day - and see the medium term and long term picture before trading in the shorter term. Thank you for posting this. I stumbled across your channel and subscribed after watching this.
Hi GautumSatpathyIN. Thanks for your feedback and Im glad you're enjoying using Renko charts. Your Q's: Why Stochastics and an offset Bollinger Band? - Because Ive backtested them and they work! I also have other combos / indicators / set ups / strategies I use not just this one. The role of the EMAs is unclear too. - As a trend filter or exiting a trade for example. Why are you still using Absolute Box Sizes - because they work and no need to go elsewhere. Log sounds interesting approach though. Regards Stephen
Yep. I’ve addressed that in other videos in the Renko playlist. A bit like waiting for a candle to close first before trading or entering on a price trigger within the candle. LEARN RENKO TRADING th-cam.com/play/PL_eLsmvxVV0c1KvxuEhTG5MDs3gwfIYpl.html
Hi @roxnroll8050 - I use anywhere from 1 second to 1 minute. Check out the Renko playlist on my channel for further tips: th-cam.com/play/PL_eLsmvxVV0c1KvxuEhTG5MDs3gwfIYpl.html Regards Stephen
Respected Stephen Sir, I am your subscriber. Your video's are so knowledgeable. But there is some hardle of language that's why i graps 50% to 60% knowledge of your conteint. It's very useful for me if you allow captions in HINDI language.❤❤
Hi Sir..could you please suggest, if the renko block size of 35 works for Crude Oil and Gold as well or if you could suggest what should be the block size for crude and Gold.. Or if same strategy could be replicated for both crude and Gold as well..Thanks in advanse for the help!!
Totally depends on your strategy / trading plan / how aggressive you want to be @parveendabas4973. Currently eg for Gold I am using 1.5 / 3 and oil 0.1 / 0.15. You will always need different block sizes by the instrument you are trading. The strategy works across markets. Regards Stephen
Great update. I have watched your previous in depth course, I am looking forward to taking the time to practice and implement. Very much appreciated. Thank you.
Do you take the trade when it breaks out with a projection bar? That part I’m unsure of cause if you wait till it’s solid you’re very late. This was a great video.
Hi and thanks for the kind words. I take it on the immediate break or at latest on the first block formation not necessarily when it has completed as like you say you can easily miss the trade. Regards Stephen
@@TheStopHunter yea waiting for a block to form we could be way to late. Are you setting alerts in price estimation outside of the bollinger bands? That could be helpful on longer term charts
According to Tradingview info at the top, it looks like you're trading this on Daily timeframe??? Does this also work on lower time-frames and for Futures instruments like NQ, ES, 6E, and Gold?
In backtest gap up and gap downs might distort the results, as many times it's more than 35 points. , not sure how much it will change the results though. Nice video
But how to keep changing brick size with the changing values of the index? Suppose it becomes 25,000 or 12,000, brick size can't remain the same as 35. What's the solution? How to automatically adjust the brick size?
Hi Raindrop. You need to construct a systematic methodology - adjusted for volatility / price movement. Did you watch this video? It may help... th-cam.com/video/-mqB6EytrDY/w-d-xo.html, Regards Stephen
Hello Raquel Gameiro. It certainly does work very nicely on Forex - my particular pair favourites: GBPUSD, EURUSD, CADJPY, AUDUSD, EURJPY, USDJPY. Due to much lower volatility in FX Im quite aggressive with the block size e.g on GBPUSD its about 0.0015. In regards others, they are all different. Watch this video to construct the correct size: th-cam.com/video/tPjpwItx2FU/w-d-xo.html Regards Stephen
Unfortunately it is not for general sale! But I do use it in my copy service, where it is doing rather well. (You can chat with users in my free Telegram group if youd like to learn more about the strategy and the service: joining link: t.me/+4cXc6PBDxCJhOTI0 ) So in a way you can get indirect access to it! Here is the video where you can learn more about the service: th-cam.com/video/upHizGkvzss/w-d-xo.html Regards Stephen
EB I use various sizes all based on a volatility assessment and what sort of price action I want to get and how it fits into my predefined strategy. Currently I’m using 10, 20,30 and 40 across a variety of strategies. Hope this helps. Regards Stephen
If you have 2-3 temporary renko blocks moving in your favor on the daily chart do you get in on any of those or wait till they all close and then place a trade the next day?
Hi Philip Meme. Depends on your strategy and your risk tolerance. Some wait for the close I like to go straight in when the conditions are met and Im more aggressive. Im going to put together some more videos around just this sort of question on Renko overt the coming weeks. Regards Stephen
sorry but you need to forward test first. backtest in tradingview is 90% correct ratio but even though 90% ratio is very low percentage because when forwarding test it quite different
Sorry but it was forward tested in a live trading environment actual vs expected. Did very nicely. Thank you. I’ve been building and designing, successful trading systems for investment banks, hedge funds etc for decades! Got a little experience in this space so I hope I know what I’m doing by now!! It was not tested and designed in TradingView. The video just shows how you can recreate it in TradingView. Thanks for your feedback.
Hi @gnsingh3563. This video may help : th-cam.com/video/tPjpwItx2FU/w-d-xo.html and this general Renko tutorial: th-cam.com/video/-mqB6EytrDY/w-d-xo.html Regards Stephen
Anyone know how this would be set up in NinjaTrader? It looks a lot different on my system when I try the indicators and settings. I have Renko, NinzaRenko, and UniRenko available. And thanks, Stephen.
Very helpful. I have been using BB strategy as well with 1SD and the results are really good. Have you tested adding another indicator to confirm trend and only trading in direction of trend to reduce whipsaw? What do you find works?
Hi Get Sourced - you're welcome. Yes I have tried and backtested trend filters eg longer term moving averages, my modified DMI set to longer period etc - but results not significantly if at all better. What I do use though as my filter is this approach: Say you are using a 3hr or 1 hr timeframe on the Renko charts, I will set up exactly the same chart but under a 1day or 1week view and I will take the trades in the lower timeframes in the same direction as the daily for example. That produces better results. Hope that helps. Regards Stephen
@@TheStopHunter Yes. Excellent. That would be my approach. Also use combo of Fibonacci SMAs. Great info. Have subscribed. looking forward to more! Matthew
With Multicharts I can confirm your Win rate and ROR for manual trading. I have 3 killer Algo's and the signals are not triggered. Any ideas why??? Try weekly chart for 90% with roughly 20 trades per yr. Try CCI 2, RSI 2, Fisher 2 line cross as histogram with 1 line cross for indicators. Adjust overbought and oversold to suit. How do run your Algo's????
Hello Wayne Flint. I dont use those so I dont know why they haven't triggered. Maybe because of temporary blocks in those charting packages? My Algos for Renko are prebuilt / designed by myself in standalone software I created. Done this way because of the little time I have to watch screens. (Im going to be putting together a video on this system shortly so you can see what I do in the Renko Algo space). I do also run crypto Renko strategies using a combination of 3Commas, TradingView and Binance to run some slightly different strategies in Renko. Regards Stephen
Hi @gipadang9815 - thats covered off in the Renko chart playlist on the channel. Check it out for further tips: th-cam.com/play/PL_eLsmvxVV0c1KvxuEhTG5MDs3gwfIYpl.html Regards Stephen
Hi I looked at your charts and when the Bollinger bands and stochastic is put on with your settings they look totally different. Your stochastic goes fast at the top in a continuous uptrend but mine looks nowhere like that. Even the Bollinger bands look totally different with the same settings. Any help will be appreciated
Hi Malcolm Ring. Its a bit hard for me to help you as I cant see what you've done! Dont know if you're using TradingView, how you've added indicators etc etc. If you send me an email and some screenshots I maybe able to help. Email stephenhoadyt@gmail.com Regards Stephen
Hi Stephen I am not using Trading view Will that make a difference? I thought they were just default indicator settings? Anyway I will send you an email Thanks for your response
Hi Dave Cousins. Thanks for the question. Unfortunately Im not a user of ninjatrader so cant properly answer your question. If it can allow you to add indicators in conjunction with any Japanese type of chart like Renko, Kagi, Line Break then my guess is it possibly could. Regards Stephen
Can work as traditional renko or building in timeframes - in video I believe it was 1d charts but equally works well at the other end of the spectrum eg 1 minute charts. Back test results first before allocating capital.
And hello to you as well Creator! Thank you for your insightful feedback!! Nothing wrong with the backtest and nothing fake with the open prices and there certainly is nothing 'lean' about the charts - it works and makes me money!
It takes education, practice, patience, skill, persistence to get any chart type to work including Renko. NO chart type is that easy to use in a live market!! Renko charts are not for everyone but they have served me very well over the years.
D W thank you for your feedback! Great to hear from a Renko expert. To answer your question no I am not using what you call end of day Renko charts - I have no idea where you get that idea from in the video. Nowhere do I say I wait for the close of that market on an end of day chart. It is a fluid intraday process and when the bricks form as and when and they create the signal set up as I laid out in the video then the trade is taken. This strategy is based on price movement in predefined block sizes in the spirit of Renko. I’m pretty sure when Renko was first put to use in Japan they didn’t also combine it with other technical analysis techniques. So I guess I am not a proper Renko user! As an aside trading methods do evolve that’s how you get your edge and my take on it is if it works for someone however bizarre the theory or idea or tweak or enhancement and makes money then who am I to criticise them!!!
@@TheStopHunter But sir, the indicators used here won't update unless confirmed end-of-day bricks print, so how do you take their reference to make entry/exit decisions? please advise. thanks.
Trading is a losing game. That goes for (almost) everyone. Since trading is my hobby, I occasionally check TH-cam for inspiration. Knowing that no successful trader would have a channel on TH-cam, let alone explain his winning strategy. That just doesn't make sense. But the get rich quick dream is so much fun that no one wants to believe this simple fact. Although the presenter of this video clearly has knowledge of technical analysis. This video clearly shows how much BS is presented on TH-cam as a trading strategy! Forget trading. Work hard, save money and invest your saved money in physical assets.
@Rssident - depends on the strategy. With timeframes introduced you're almost creating a chart like a bar or candlestick chart that looks different. You wouldnt say that if you were using just candlestick charts - where you'd quite happily utilise other timeframes!
@@TheStopHunter Try to trade Renko charts on any time frame other than 1 second and you will see why it doesn't work. Repainting bars is the same as repainting indicators. You can't go back in time to make trades.
@@TheStopHunter What is it that you think I do? It looks like you sell courses. It's super easy to make a backtest on 30m Renko bars in TradingView that shows a profit factor of >12 but if you try to trade it you will lose money. Nothing changes the fact that you can't go back in time to make trades.
Are there any indeces this is better suited for and any you should avoid maybe? Would this be good on S&P500?
Thanks
Clint
Works on most indices especially the S&P!
Sir is it rational to back test a renko strategy in D timeframe as there will be plenty of repainting issue. In real market stop losses would have hit, but you cannot see that in bigger timeframes. Same brick size with shorter time frames to avoid this would be helpful. What do you say?
Exactly
correct. Also blocks fill up before being able to enter trade. this video is incredibly misleading
the author never profit with such system, the repainting issue easily blow his account
This is a great idea. I am experimenting with something similar using Super Trend & MACD which I hope to use across asset classes - Index, Stocks, Forex, Commodities.
A couple of questions - why Stochastics and an offset Bollinger Band? The role of the EMAs is unclear too.
But why are you still using Absolute Box Sizes? Take a look at Log or percentage based block sizing. That is applicable across markets, assets and price levels. A 0.25% Brick size works at Rs 100 as well as Rs 50,000.
The other major advantage of using log intervals is the ability to smoothly increase the brick size to say 1% or 3% on the same data frequency - 1 min / 1 hr / 1 day - and see the medium term and long term picture before trading in the shorter term.
Thank you for posting this. I stumbled across your channel and subscribed after watching this.
Hi GautumSatpathyIN.
Thanks for your feedback and Im glad you're enjoying using Renko charts.
Your Q's:
Why Stochastics and an offset Bollinger Band? - Because Ive backtested them and they work! I also have other combos / indicators / set ups / strategies I use not just this one.
The role of the EMAs is unclear too. - As a trend filter or exiting a trade for example.
Why are you still using Absolute Box Sizes - because they work and no need to go elsewhere. Log sounds interesting approach though.
Regards
Stephen
I think it's important to state, it could print 1-2-3-4-5 bricks before they "close". So, you could have 1 brick be 1 day or 5 bricks be 1 one.
Yep. I’ve addressed that in other videos in the Renko playlist. A bit like waiting for a candle to close first before trading or entering on a price trigger within the candle. LEARN RENKO TRADING
th-cam.com/play/PL_eLsmvxVV0c1KvxuEhTG5MDs3gwfIYpl.html
It seems like you have the chart set to a Daily Timeframe. What is a good timeframe for NQ for scalping/DayTrading?
Hi @roxnroll8050 - I use anywhere from 1 second to 1 minute. Check out the Renko playlist on my channel for further tips: th-cam.com/play/PL_eLsmvxVV0c1KvxuEhTG5MDs3gwfIYpl.html Regards Stephen
Renko is independent of time. TV renko implementation is incorrect.
Respected Stephen Sir, I am your subscriber. Your video's are so knowledgeable. But there is some hardle of language that's why i graps 50% to 60% knowledge of your conteint. It's very useful for me if you allow captions in HINDI language.❤❤
Hi Sir..could you please suggest, if the renko block size of 35 works for Crude Oil and Gold as well or if you could suggest what should be the block size for crude and Gold.. Or if same strategy could be replicated for both crude and Gold as well..Thanks in advanse for the help!!
For gold use renko brick size 1.5 or 2.5
Totally depends on your strategy / trading plan / how aggressive you want to be @parveendabas4973. Currently eg for Gold I am using 1.5 / 3 and oil 0.1 / 0.15. You will always need different block sizes by the instrument you are trading. The strategy works across markets. Regards Stephen
@@TheStopHunter thanks
@@Fero_beauty thanks
Great update. I have watched your previous in depth course, I am looking forward to taking the time to practice and implement. Very much appreciated. Thank you.
Thanks CR CR and you are welcome - I hope it all helps. Let me know how you get on. Regards Stephen
I going to forward test it on a demo account for awhile to see how it goes
Good luck @dutchcube565 let me know how it goes. Regards Stephen
@@TheStopHunter so far it works well in trending market but sideways markets will kill you
How much money do you make with Renko versus how much do you lose?
I do very nicely from Renko @bluenetmarketing. I win far more than I lose!!
@@TheStopHunter Good to know, Thanks.
great strategy! do i need to change the settings for the BB and STOCH if i wanna test this on the 5min/15min/1h?
Hi Dunamic - you shouldnt have to change any settings, but feel free to optimise. You may find something that may work better. Regards Stephen
Do you take the trade when it breaks out with a projection bar? That part I’m unsure of cause if you wait till it’s solid you’re very late. This was a great video.
Hi and thanks for the kind words. I take it on the immediate break or at latest on the first block formation not necessarily when it has completed as like you say you can easily miss the trade. Regards Stephen
@@TheStopHunter yea waiting for a block to form we could be way to late. Are you setting alerts in price estimation outside of the bollinger bands? That could be helpful on longer term charts
According to Tradingview info at the top, it looks like you're trading this on Daily timeframe??? Does this also work on lower time-frames and for Futures instruments like NQ, ES, 6E, and Gold?
Yes totally @utubeskreename9516.
GOD BLESS YOU FOR THIS VIDEO YOU ARE THE BEST. AM TITUS FROM NIGERIA
Very kind of you @oyedaretitus2464 and hello to you Titus and Nigeria! Im glad you enjoyed the video. Regards Stephen
In backtest gap up and gap downs might distort the results, as many times it's more than 35 points. , not sure how much it will change the results though. Nice video
But how to keep changing brick size with the changing values of the index? Suppose it becomes 25,000 or 12,000, brick size can't remain the same as 35. What's the solution? How to automatically adjust the brick size?
Hi Raindrop. You need to construct a systematic methodology - adjusted for volatility / price movement. Did you watch this video? It may help... th-cam.com/video/-mqB6EytrDY/w-d-xo.html, Regards Stephen
@@TheStopHunter Thank you so much for the reply
Does it work with forex? What would be the brick size in that case please?
Hello Raquel Gameiro. It certainly does work very nicely on Forex - my particular pair favourites: GBPUSD, EURUSD, CADJPY, AUDUSD, EURJPY, USDJPY. Due to much lower volatility in FX Im quite aggressive with the block size e.g on GBPUSD its about 0.0015. In regards others, they are all different. Watch this video to construct the correct size: th-cam.com/video/tPjpwItx2FU/w-d-xo.html
Regards Stephen
@@TheStopHunter thanks a lot for taking the time to answer me!
How can i get this indicator and system? Thank you
Unfortunately it is not for general sale! But I do use it in my copy service, where it is doing rather well. (You can chat with users in my free Telegram group if youd like to learn more about the strategy and the service: joining link: t.me/+4cXc6PBDxCJhOTI0 ) So in a way you can get indirect access to it! Here is the video where you can learn more about the service: th-cam.com/video/upHizGkvzss/w-d-xo.html Regards Stephen
How to keep stop loss in renko chart? Can we use any indicator for stop loass
Check out the videos in the Renko playlist. There is one on stop loss LEARN RENKO TRADING
th-cam.com/play/PL_eLsmvxVV0c1KvxuEhTG5MDs3gwfIYpl.html
any idea on what the ideal renko block size is for the es futures? been trying to nail it down
EB I use various sizes all based on a volatility assessment and what sort of price action I want to get and how it fits into my predefined strategy. Currently I’m using 10, 20,30 and 40 across a variety of strategies. Hope this helps. Regards Stephen
If you have 2-3 temporary renko blocks moving in your favor on the daily chart do you get in on any of those or wait till they all close and then place a trade the next day?
Hi Philip Meme. Depends on your strategy and your risk tolerance. Some wait for the close I like to go straight in when the conditions are met and Im more aggressive. Im going to put together some more videos around just this sort of question on Renko overt the coming weeks. Regards Stephen
Thank you very much for a great strategy for renko charts
My pleasure @CocoPips10000 glad you enjoyed it and hopefully you can put it to some good use!! Regards Stephen
Great video I would love to have a word with you regarding the auto trader system you mentioned.
Thanks Theo Thomas - what would you like to know about it? (Contact info email in video description) Regards Stephen
sorry but you need to forward test first.
backtest in tradingview is 90% correct ratio but even though 90% ratio is very low percentage because when forwarding test it quite different
Sorry but it was forward tested in a live trading environment actual vs expected. Did very nicely. Thank you. I’ve been building and designing, successful trading systems for investment banks, hedge funds etc for decades! Got a little experience in this space so I hope I know what I’m doing by now!! It was not tested and designed in TradingView. The video just shows how you can recreate it in TradingView. Thanks for your feedback.
Subscribed!
Thanks @webventures
How do you calculate brick size 35 , are brick size the same for option
Hi @gnsingh3563. This video may help : th-cam.com/video/tPjpwItx2FU/w-d-xo.html and this general Renko tutorial: th-cam.com/video/-mqB6EytrDY/w-d-xo.html Regards Stephen
Excellent video!!!
Thank you very much Nikhil Nair. Regards Stephen
Has anyone used super kay sniper? How do you fix the repainting renko chart? Thanks.
Never used super kay sniper before Albert Garbida. Follow though the Renko playlist for those answers. Regards Stephen
Anyone know how this would be set up in NinjaTrader? It looks a lot different on my system when I try the indicators and settings. I have Renko, NinzaRenko, and UniRenko available. And thanks, Stephen.
Hi @fadsandmoreonline7802 - sorry I dont have any experience with NinjaTrader. Regards Stephen
Are these trading view median renkos?
Hi KenLahne2 - Im using OHLC or Close based blocks in the video. Regards Stephen
Very helpful. I have been using BB strategy as well with 1SD and the results are really good. Have you tested adding another indicator to confirm trend and only trading in direction of trend to reduce whipsaw? What do you find works?
Hi Get Sourced - you're welcome. Yes I have tried and backtested trend filters eg longer term moving averages, my modified DMI set to longer period etc - but results not significantly if at all better. What I do use though as my filter is this approach: Say you are using a 3hr or 1 hr timeframe on the Renko charts, I will set up exactly the same chart but under a 1day or 1week view and I will take the trades in the lower timeframes in the same direction as the daily for example. That produces better results. Hope that helps. Regards Stephen
@@TheStopHunter Yes. Excellent. That would be my approach. Also use combo of Fibonacci SMAs. Great info. Have subscribed. looking forward to more! Matthew
Thanks sir....m using the same...hope it wil better my trades
Love the Banksy rat!
Cheers TheOneLifeRider!! 😎Regards Stephen
With Multicharts I can confirm your Win rate and ROR for manual trading. I have 3 killer Algo's and the signals are not triggered. Any ideas why??? Try weekly chart for 90% with roughly 20 trades per yr. Try CCI 2, RSI 2, Fisher 2 line cross as histogram with 1 line cross for indicators. Adjust overbought and oversold to suit. How do run your Algo's????
Hello Wayne Flint. I dont use those so I dont know why they haven't triggered. Maybe because of temporary blocks in those charting packages? My Algos for Renko are prebuilt / designed by myself in standalone software I created. Done this way because of the little time I have to watch screens. (Im going to be putting together a video on this system shortly so you can see what I do in the Renko Algo space). I do also run crypto Renko strategies using a combination of 3Commas, TradingView and Binance to run some slightly different strategies in Renko. Regards Stephen
What time frame are you using in this video?
The Nifty 50 example was set to 1d in TradingView
Excellent Sir
Thank you Nigam Jha, glad you enjoyed it. Regards Stephen
Problem using renko, it repaint. In real time made me confuse.
Hi @gipadang9815 - thats covered off in the Renko chart playlist on the channel. Check it out for further tips: th-cam.com/play/PL_eLsmvxVV0c1KvxuEhTG5MDs3gwfIYpl.html Regards Stephen
Can anyone help with a mt5 renko Chart generator which supports higher timeframe higher than 1m
Hello sir I have a query pertaining to repainting issues in renko can you please help me with it?
Hi Tinadesai4599 - Check out the other Renko videos in the Renko playlist - answers that question and more! Regards Stephen
Renko works only trending market, it's failed in sideways!! 😊
Stay out of the chop, then! Problem solved!
Thank you
You're welcome @DS-gn5vu. Hope you find it useful / profitable! Regards Stephen
Hi I looked at your charts and when the Bollinger bands and stochastic is put on with your settings they look totally different.
Your stochastic goes fast at the top in a continuous uptrend but mine looks nowhere like that.
Even the Bollinger bands look totally different with the same settings.
Any help will be appreciated
Hi Malcolm Ring. Its a bit hard for me to help you as I cant see what you've done! Dont know if you're using TradingView, how you've added indicators etc etc. If you send me an email and some screenshots I maybe able to help. Email stephenhoadyt@gmail.com
Regards Stephen
Hi Stephen
I am not using Trading view
Will that make a difference? I thought they were just default indicator settings?
Anyway I will send you an email
Thanks for your response
Thank you very informative
Glad it was helpful @3pierre91! Regards Stephen
Can this be set up on ninjatrader?
If so, how?
Hi Dave Cousins. Thanks for the question. Unfortunately Im not a user of ninjatrader so cant properly answer your question. If it can allow you to add indicators in conjunction with any Japanese type of chart like Renko, Kagi, Line Break then my guess is it possibly could. Regards Stephen
Have not seen this type of Bollinger bands
Thats why Im here Paschal Izuchukwu! Regards Stephen
This stratregy time frame?
Can work as traditional renko or building in timeframes - in video I believe it was 1d charts but equally works well at the other end of the spectrum eg 1 minute charts. Back test results first before allocating capital.
Your backtest is wrong. The charts are too lean and have fake open prices.
And hello to you as well Creator! Thank you for your insightful feedback!! Nothing wrong with the backtest and nothing fake with the open prices and there certainly is nothing 'lean' about the charts - it works and makes me money!
@@TheStopHunter Show results on a regulated broker and we talk.
2.4 trades per month? No thanks. That’s absurd.
Renko is not that simple to use in live market
After market hours every strategy is profitable
It takes education, practice, patience, skill, persistence to get any chart type to work including Renko. NO chart type is that easy to use in a live market!! Renko charts are not for everyone but they have served me very well over the years.
top
Thanks @AlfaBravo55. Regards Stephen
I guarantee you, you don't get those results when you forward test.
Totally agree
Weird to assume that at all after all, its damn hard to automate profitable strategies
@@LukeBreakwalker I'm not assuming it mate. I know it, spent a good 6 months on renko it's never as it reems.
Hence why no top traders use it.
@@geoff6203 actually there are top traders only use ranko 🙄
@@geoff6203 maybe it doesn't suit you. Try something other. Totally normal. Not all strategies are profitable for all people.
Looks like you are using end of day renko charts which is completely wrong!!!
D W thank you for your feedback! Great to hear from a Renko expert. To answer your question no I am not using what you call end of day Renko charts - I have no idea where you get that idea from in the video. Nowhere do I say I wait for the close of that market on an end of day chart. It is a fluid intraday process and when the bricks form as and when and they create the signal set up as I laid out in the video then the trade is taken. This strategy is based on price movement in predefined block sizes in the spirit of Renko. I’m pretty sure when Renko was first put to use in Japan they didn’t also combine it with other technical analysis techniques. So I guess I am not a proper Renko user! As an aside trading methods do evolve that’s how you get your edge and my take on it is if it works for someone however bizarre the theory or idea or tweak or enhancement and makes money then who am I to criticise them!!!
@@TheStopHunter But sir, the indicators used here won't update unless confirmed end-of-day bricks print, so how do you take their reference to make entry/exit decisions? please advise. thanks.
@@SinghRababee You are correct. The bricks only print and stick on end of day. He is selling fake promises of a strategy that never worked.
Trading is a losing game. That goes for (almost) everyone. Since trading is my hobby, I occasionally check TH-cam for inspiration. Knowing that no successful trader would have a channel on TH-cam, let alone explain his winning strategy. That just doesn't make sense. But the get rich quick dream is so much fun that no one wants to believe this simple fact.
Although the presenter of this video clearly has knowledge of technical analysis. This video clearly shows how much BS is presented on TH-cam as a trading strategy!
Forget trading. Work hard, save money and invest your saved money in physical assets.
who are you to told me such a thing ?????
Using Renko bars with any thing other than 1 second timeframe in TradingView doesn't make sense.
I use 4 h tf as I find it to be more reliable and prevents me from entering trades based on wicks
@Rssident - depends on the strategy. With timeframes introduced you're almost creating a chart like a bar or candlestick chart that looks different. You wouldnt say that if you were using just candlestick charts - where you'd quite happily utilise other timeframes!
@@TheStopHunter Try to trade Renko charts on any time frame other than 1 second and you will see why it doesn't work. Repainting bars is the same as repainting indicators. You can't go back in time to make trades.
@@Rssident Nr 30 years professional trading experience would say otherwise! I guess thats why you do what you do and I do what I do!!
@@TheStopHunter What is it that you think I do? It looks like you sell courses. It's super easy to make a backtest on 30m Renko bars in TradingView that shows a profit factor of >12 but if you try to trade it you will lose money. Nothing changes the fact that you can't go back in time to make trades.
Show me your statement haha
👍
After the market off everyone can Pro Trader😂😅
Is a scam..
Your a scam