Then, I go to the Renko chart and draw these price lines in manually (rather being able to use the fib tool to do it for me). Then mark off which of these levels have shown previous 'interest' on the upmove. Both the 50% and 61.8% levels did this, ...

Scalping away with 1/3pip Renko charts

I checked the candles chart at this stage to see if 90.57 was the real low of the move. As you can see in screen 2 it wasn't - the move actually started around 7:19am GMT at price 90.45. So this was a mini 45 pip Uptrend before it retraces. (this ...

Scalping away with 1/3pip Renko charts

Here is how I traded yesterday's USDJPY pair (Friday 25 Jan 2013) Around 8.50am UK time set the Renko Ticket Box indicator off (on a USDJPY 1 minute chart) to build price background data (I would usually start this off around 6am to get at least a ...

Scalping away with 1/3pip Renko charts

Hi shunfeng, Just put the mq4 file attached to the first post in your MT4 indicators folder. I think you just need the .mq4 one. Open a chart and add it as you would any other indicator. Set the BoxSize to 3 and BoxWidth to 3. Drag the indicator box ...

Scalping away with 1/3pip Renko charts

Nice start to the day with a 25 pip trade long on the EJ. The key is to wait for an impulsive trend to identify itself, and then wait for the retracement to reach one of the levels. Safe target is the previous High (UT) or Low (DT). The other target ...

Scalping away with 1/3pip Renko charts

A good example of how reliable the short term S/R levels are for a couple of 10 to 20 pip scalps Here is a GBPJPY chart that hits perfectly on a previous resistance price level that has become support

Scalping away with 1/3pip Renko charts

Worked out well - first profit taken at Swing High, +40pips. I set the Renk charts going for a couple of hours of a few pairs and then look for one with an obvious trend. Then I put simple fibs on the move and look for likely retracement turning ...

Scalping away with 1/3pip Renko charts

A nice GBPJPY set up earlier today: Entry Long @ 139.98 - 50% retracement of up trend, and also the price level showed 'action' on the way up. Expect this to become resistance to the retracement down. Target: Swing High of 140.42

Scalping away with 1/3pip Renko charts

Hi I am still learning ... I've been trading a few weeks using it and it is a case of 'teaching the eye' to read the price action at various levels. It's quite interactive which I enjoy. The indicator is in the first post.

Scalping away with 1/3pip Renko charts

Spud, I would be really interested which price levels you marked today from this chart ? Thanks

Volume Price Level Trading

Post 1 is now excellent Spud ... a great analogy ! Looking forward to the next few charts with explanations. Really appreciate your patience and time and effort doing this thread.

Volume Price Level Trading

The trade went as I hoped and bagged 16 pips at the Take Profit level. If you want to load this onto your charts, you need to set it up and let it run for a good half hour before thinking of trading as the data builds up over time from scratch in ...

Scalping away with 1/3pip Renko charts

Gets my vote !!

Volume Price Level Trading

Not been much to get excited about today on the EURUSD - stuck in a 30 pip range all day so far!

Volume Price Level Trading

Could you please post the Renko chart EA you are using with the instructions. I assume this is a live chart with regular tick updates ? I've been looking for a thread regarding live Renko charts as I have a few ideas I want to test out so hopefully ...

Price Action/Renko systems

Great I look forward to more examples. Can you just confirm that you are trading purely off the 15 min chart on EURUSD (and not looking at higher TF for trends etc.) and only looking back around 10-12 hours (40-50 candles) ? Thanks for sticking with ...

Volume Price Level Trading

Yes, you convince yourself its a vase, take the trade and then all you can see is two faces !!

Volume Price Level Trading

I assume you mean the price level will be near the top of an UP candle and near the bottom of a DOWN candle ? Sorry, just checking

Volume Price Level Trading

Being able to find the price levels when we see a volume peak has been a problem for me since I started looking at this thread, but I'm going to persevere. I've found an interesting tool to use which may help!! See chart 1 - the usual 15min chart ...

Volume Price Level Trading