Could you possible share your indicators and template let's try it and see how it would help us, please

New Renko Builder

Unfortunately with Metatrader, Renko is an offline or secondary chart feed. some other trading platforms have Renko as primary chart feed. I don't have experience with MT5, I couldn't find reliable Renko generators for MT5 even the paid one I ...

Renko gold (renko in renko)

Ending the year in high spirits. The main reason for lack of results is second guessing set-ups and unwillingness to lose. image Entries not taken harm the account more than losing entries. I have settled on the 10 pips brick Renko for Gold and ...

Renko gold (renko in renko)

4*3 = 12 12*3= 36 So the first value should be 4 right?

A Clue

I missed the L o (again) but kept to my resolve to only take divergence set-ups/ The 2 trades left some profit on the table but I had to let it be so because the trend filter didn't indicate divergence so I played it safe (negative R:R) in both ...

Renko gold (renko in renko)

I saw the trend reversal at Asia session high level but was unwilling to lose so I didn't engage. The market thereafter refused to give me a clear enough divergence so I stayed away only to see Gold shed all the gains it made in the London session ...

Renko gold (renko in renko)

In hindsight I left too early yesterday thinking the market wouldn't give me an opportunity to make some profit before the FOMC news. There was so much opportunity after the news too when the market had calmed down.

Renko gold (renko in renko)

I missed that first Breakout because the trend filter was still Bearish but I did't hesitate to pull the trigger on the second breakout. This was a 2:1.5 Risk to Reward but I was almost going to fold @ 50 pips meanwhile the move from there was good ...

Renko gold (renko in renko)

Tweaking on the go, I added a moving average which would more responsive than the trend filter. image There was Regular Divergence indicated by the entry filter but the trend filter didn't support it

Renko gold (renko in renko)

3 trades one W 2 Ls. The first trade was targeted at the last low, but price went lower after hitting a 2:1 risk to reward. For the other trades, the trend filter was still Bearish but I didn't wait for the Brick to completely close bearish haven ...

Renko gold (renko in renko)

When the trend and entry filters both indicate Regular Divergence it's relatively safer than when it's only the entry filter

Renko gold (renko in renko)

The Hidden Divergence (a measure of trend continuation) is more reliable than the Regular Divergence (trend reversal)

Renko gold (renko in renko)

There was a regular divergence at LO and I ignored it, but since I didn't get a HD I didn't cash in on the trend continuation. I waited until I found a "double level" formation and went for a 1: 1

Renko gold (renko in renko)

I missed the LO opportunity by just a few minutes there was a HD (Hidden Divergence) then I was not available for the other moves. I took a Regular Divergence (RD) at NY O and went for just one brick. I have some things to do so I will call it a day.

Renko gold (renko in renko)

Just to wait for hidden divergence and pull the trigger. To trade regular divergence the entry Trix and filter Trix should be showing similar divergence

Renko gold (renko in renko)

Prophet of doom are you?

Renko gold (renko in renko)

So back to what works, Trix and the best set-up is hidden divergence in line with Trix. Missed the L O but caught 2 scalps (in line with Trix) in the N Y session.

Renko gold (renko in renko)

Sadly it repaintd in real time.

Renko gold (renko in renko)

From the title of the thread the focus is Gold. When you discover a tool you try it out on several instruments and time frames before adopting it, that's the reason for checking the template out on DAX and Cable.

Renko gold (renko in renko)

It's fabulous with the DAX but let's see it working on live charts

Renko gold (renko in renko)