Patterns Observation.

[Don_xyZ]

I put the SweetRenko against several pairs and a couple of tf and it looks great.

Patterns look good on the charts below. Whatever you can do on a classic CS can also be done on this Renko.

EU Renko.png (48.24 KiB) Viewed 915 times

AU Renko.png (50.05 KiB) Viewed 915 times

UJ Renko.png (47.19 KiB) Viewed 915 times

By using the SweetSpotsGold indicator, you can have the same effect without the need to put the actual Renko indicator or EA.

This morning I tried using SweetRenko on AU and it gave a good result albeit on a small test account.

AUDUSDM1 SweetRenko.png (22.31 KiB) Viewed 915 times

edit: just in case anyone is looking for it, I already put SweetSpotsGold TRO mod AND MarketSessions 2 session that I use in the indicator list here:

post151670#p151670

[Don_xyZ]

I'm still going to advocate for lines every 4 pips and 100 pip main levels =)

4 pips for which pair? All size is never a good idea for me though might be good idea for others.

So how it works is that there are 12 points (3 blocks) to reverse, the blocks are just extended 4 points at a time after a reversal.

You could use 4 units, if points or pips does not work for some reason, but I always use fours and hundreds.

I see what you mean.
Yes, that is a good idea too.

Now that I'm looking at it, I think sweetspots can be used as a Renko chart. Each line is a box. This way, you don't really need the actual EA on MT4/5. If price can break and close above/below a line then it's a complete renko candle.

Screenshot_20230321-171116.png

Not going to think about that now, it makes my head spin.

Hmmmm. You need more weekend brain exercises

Now that I'm looking at it, I think sweetspots can be used as a Renko chart. Each line is a box. This way, you don't really need the actual EA on MT4/5. If price can break and close above/below a line then it's a complete renko candle.

I agree! I “see” it too. Also, similar to the baccarat idea, in different form, without having to modify the x axis. I do like the baccarat charting idea though, as it eliminates a lot of info, just give you raw price and price turns

Good. Anything that can be turned into something great, must be pursued. Who knows what you will end up with. I keep revisiting old ideas every now and then and I always end up with something new.

[Don_xyZ]

Ok, I'm done today but my chart is boring coz it's the same stuff over and over again. So today I'm just gonna post something else than the done for the day's chart.

Let's get into SweetRenko.
It's basically a Renko chart but displayed in raw format. However, once you can see past the noise you'll be able to see the renko boxes in your mind and on the chart itself.

SweetRenko.png (15.97 KiB) Viewed 839 times

SweetRenko 2.png (16.27 KiB) Viewed 839 times

SweetRenko 3.png (15.64 KiB) Viewed 839 times

A wise man once said, if you put your mind into something you'll be able to achieve great things. Take for example, a scissor. Normally, when you think about a scissor you instantly have in mind something to cut paper with or it could be a bigger size to cut something else. But I'm 1 million percent sure that you have never seen something in this video below.

So now, how will you trade the SweetRenko? You do what you will do on a real renko chart.

For those not familiar with how a Renko chart works, the chart will only print a new candle, up or down, once the minimum required pip is achieved and the best thing is you determine the amount yourself. Let's say you want the minimum to be 5 pips so if the previous candle closed at 1.0015 and now the price is 1.0017 you will only see a "shadow" of an incomplete bullish candle body. Once the price reached 1.0020 then the candle will be completed and closes. If instead price go from 1.0017 to 1.0013 then you will see a shadow of a bearish body. However, the chart won't print a complete bearish body even if price go to 1.0010. This is important! If price managed to go to 1.0005 or lower then you will see a complete bearish body printed from the open price of the previous renko candle which is 1.0015. See example below for clarity.

Renko compare.png (8.22 KiB) Viewed 839 times

So there is a gap of exactly 1 box between different candle color. This gap is the buffer. Renko is a no BS chart as it only considers real strength of the momentum and it automatically omits unnecessary struggle within the box. The most common strategy for Renko chart is breakout above/below the latest high/low. On a SweetRenko, it's even easier to spot BO because the horizontal lines are already there for you.

Renko BO.png (19.14 KiB) Viewed 839 times

SweetRenko BO.png (15.55 KiB) Viewed 839 times

Of course, you can combine it with other things.

[kiwiarian]

Ok, I'm done today but my chart is boring coz it's the same stuff over and over again. So today I'm just gonna post something else than the done for the day's chart.

Let's get into SweetRenko.
It's basically a Renko chart but displayed in raw format. However, once you can see past the noise you'll be able to see the renko boxes in your mind and on the chart itself.

SweetRenko.png
SweetRenko 2.png
SweetRenko 3.png

A wise man once said, if you put your mind into something you'll be able to achieve great things. Take for example, a scissor. Normally, when you think about a scissor you instantly have in mind something to cut paper with or it could be a bigger size to cut something else. But I'm 1 million percent sure that you have never seen something in this video below.

So now, how will you trade the SweetRenko? You do what you will do on a real renko chart.

For those not familiar with how a Renko chart works, the chart will only print a new candle, up or down, once the minimum required pip is achieved and the best thing is you determine the amount yourself. Let's say you want the minimum to be 5 pips so if the previous candle closed at 1.0015 and now the price is 1.0017 you will only see a "shadow" of an incomplete bullish candle body. Once the price reached 1.0020 then the candle will be completed and closes. If instead price go from 1.0017 to 1.0013 then you will see a shadow of a bearish body. However, the chart won't print a complete bearish body even if price go to 1.0010. This is important! If price managed to go to 1.0005 or lower then you will see a complete bearish body printed from the open price of the previous renko candle which is 1.0015. See example below for clarity.

Renko compare.png

So there is a gap of exactly 1 box between different candle color. This gap is the buffer. Renko is a no BS chart as it only considers real strength of the momentum and it automatically omits unnecessary struggle within the box. The most common strategy for Renko chart is breakout above/below the latest high/low. On a SweetRenko, it's even easier to spot BO because the horizontal lines are already there for you.

Renko BO.png
SweetRenko BO.png

Of course, you can combine it with other things.

Thanks for sharing, I like the idea of those lines as they kind of help show levels, is price above or below, give you an idea on the retrace size as well, can it be so simple?

[Don_xyZ]

Ok, I'm done today but my chart is boring coz it's the same stuff over and over again. So today I'm just gonna post something else than the done for the day's chart.

Let's get into SweetRenko.
It's basically a Renko chart but displayed in raw format. However, once you can see past the noise you'll be able to see the renko boxes in your mind and on the chart itself.

SweetRenko.png
SweetRenko 2.png
SweetRenko 3.png

A wise man once said, if you put your mind into something you'll be able to achieve great things. Take for example, a scissor. Normally, when you think about a scissor you instantly have in mind something to cut paper with or it could be a bigger size to cut something else. But I'm 1 million percent sure that you have never seen something in this video below.

So now, how will you trade the SweetRenko? You do what you will do on a real renko chart.

For those not familiar with how a Renko chart works, the chart will only print a new candle, up or down, once the minimum required pip is achieved and the best thing is you determine the amount yourself. Let's say you want the minimum to be 5 pips so if the previous candle closed at 1.0015 and now the price is 1.0017 you will only see a "shadow" of an incomplete bullish candle body. Once the price reached 1.0020 then the candle will be completed and closes. If instead price go from 1.0017 to 1.0013 then you will see a shadow of a bearish body. However, the chart won't print a complete bearish body even if price go to 1.0010. This is important! If price managed to go to 1.0005 or lower then you will see a complete bearish body printed from the open price of the previous renko candle which is 1.0015. See example below for clarity.

Renko compare.png

So there is a gap of exactly 1 box between different candle color. This gap is the buffer. Renko is a no BS chart as it only considers real strength of the momentum and it automatically omits unnecessary struggle within the box. The most common strategy for Renko chart is breakout above/below the latest high/low. On a SweetRenko, it's even easier to spot BO because the horizontal lines are already there for you.

Renko BO.png
SweetRenko BO.png

Of course, you can combine it with other things.

Thanks for sharing, I like the idea of those lines as they kind of help show levels, is price above or below, give you an idea on the retrace size as well, can it be so simple?

Done for the day, EU session. Do I need to post the AU chart? Just open the chart and use the same template and I'm sure you'll be able to see my ins and outs.

Now, just by looking at the chart below you can already tell that there are many things that can be done by using SweetSpots.

I put the bar chart to help you guys see more potential for the use of this tool.

Sweetspots (2).png (20.68 KiB) Viewed 819 times

You can do:

Grid trading, Layer
S/R trading, CSR100, RBS, SBR
SnD trading, QM, MPL, FTR
Spikey patterns (V/A, M/W, H&S/IH&S)
Fib trading

etc

and any of them can bring in profit. Massive profit.

[kiwiarian]

Ok, I'm done today but my chart is boring coz it's the same stuff over and over again. So today I'm just gonna post something else than the done for the day's chart.

Let's get into SweetRenko.
It's basically a Renko chart but displayed in raw format. However, once you can see past the noise you'll be able to see the renko boxes in your mind and on the chart itself.

SweetRenko.png
SweetRenko 2.png
SweetRenko 3.png

A wise man once said, if you put your mind into something you'll be able to achieve great things. Take for example, a scissor. Normally, when you think about a scissor you instantly have in mind something to cut paper with or it could be a bigger size to cut something else. But I'm 1 million percent sure that you have never seen something in this video below.

So now, how will you trade the SweetRenko? You do what you will do on a real renko chart.

For those not familiar with how a Renko chart works, the chart will only print a new candle, up or down, once the minimum required pip is achieved and the best thing is you determine the amount yourself. Let's say you want the minimum to be 5 pips so if the previous candle closed at 1.0015 and now the price is 1.0017 you will only see a "shadow" of an incomplete bullish candle body. Once the price reached 1.0020 then the candle will be completed and closes. If instead price go from 1.0017 to 1.0013 then you will see a shadow of a bearish body. However, the chart won't print a complete bearish body even if price go to 1.0010. This is important! If price managed to go to 1.0005 or lower then you will see a complete bearish body printed from the open price of the previous renko candle which is 1.0015. See example below for clarity.

Renko compare.png

So there is a gap of exactly 1 box between different candle color. This gap is the buffer. Renko is a no BS chart as it only considers real strength of the momentum and it automatically omits unnecessary struggle within the box. The most common strategy for Renko chart is breakout above/below the latest high/low. On a SweetRenko, it's even easier to spot BO because the horizontal lines are already there for you.

Renko BO.png
SweetRenko BO.png

Of course, you can combine it with other things.

Thanks for sharing, I like the idea of those lines as they kind of help show levels, is price above or below, give you an idea on the retrace size as well, can it be so simple?

Done for the day, EU session. Do I need to post the AU chart? Just open the chart and use the same template and I'm sure you'll be able to see my ins and outs.

Now, just by looking at the chart below you can already tell that there are many things that can be done by using SweetSpots.

I put the bar chart to help you guys see more potential for the use of this tool.
Sweetspots (2).png

You can do:

Grid trading, Layer
S/R trading, CSR100, RBS, SBR
SnD trading, QM, MPL, FTR
Spikey patterns (V/A, M/W, H&S/IH&S)
Fib trading

etc

and any of them can bring in profit. Massive profit.

Yes I agree, I was thinking this would be perfect for some layering/ MM also. This goes back full circle to Tro's line in the sand

[Don_xyZ]

Thanks for sharing, I like the idea of those lines as they kind of help show levels, is price above or below, give you an idea on the retrace size as well, can it be so simple?

Done for the day, EU session. Do I need to post the AU chart? Just open the chart and use the same template and I'm sure you'll be able to see my ins and outs.

Now, just by looking at the chart below you can already tell that there are many things that can be done by using SweetSpots.

I put the bar chart to help you guys see more potential for the use of this tool.
Sweetspots (2).png

You can do:

Grid trading, Layer
S/R trading, CSR100, RBS, SBR
SnD trading, QM, MPL, FTR
Spikey patterns (V/A, M/W, H&S/IH&S)
Fib trading

etc

and any of them can bring in profit. Massive profit.

Yes I agree, I was thinking this would be perfect for some layering/ MM also. This goes back full circle to Tro's line in the sand

Yes, TRO like to trade with horis.

Umphhh.... this is why I don't open my Telegram on my other number

ScreenHunter 78.png (13.33 KiB) Viewed 804 times

ScreenHunter 79.png (10.73 KiB) Viewed 804 times

If I scroll all the way down even more.........

[Don_xyZ]

The lines.... they're firm.

ScreenHunter 80.png (21.47 KiB) Viewed 798 times

How many lines can you take home?

[IgazI]

The lines.... they're firm.

ScreenHunter 80.png

How many lines can you take home?

A "risk lines make lines" kinda deal.

Renko or P&F, first find "up" and then trade the color change from red to green; trade the V, not the T.

[Don_xyZ]

The lines.... they're firm.

ScreenHunter 80.png

How many lines can you take home?

A "risk lines make lines" kinda deal.

Renko or P&F, first find "up" and then trade the color change from red to green; trade the V, not the T.

Seriously man, can't hide anything from you