Renko Bar Based Trading System for ThinkorSwim

[michalg95]

Can you share your setup?

Hey bro are you using the Swingarm still?I have been using it for a long time and would love to discuss it!

 

[guyonabuffalo]

Hey bro are you using the Swingarm still?I have been using it for a long time and would love to discuss it!

No, not anymore. I went through a steep drawdown period with it and abandoned it. Every now and then I check in on it but it still doesn't seem to viable for the timeframe and markets that I watch.

 

[gn5150]

Good morning all, I was very excited to find this site and better yet find this thread talking about using Renko bars. I started using Renko bars a few months ago to scalp /ES, /YM, /CL, and /NQ (in slower time periods) and feel like I am honing a system that truly works. I'd appreciate any feedback as I feel that there may be a better way to confirm an entry than using Waddah, Awesome Osciallator, and the LBR 3/10. Below are my settings and rules:

Lets see if this chart share will work:
https://tos.mx/cYHAXu7
Indicators & Settings

• Renko Bars set at 3 Ticks
• Ichimoku Cloud with Lagging Span
• Bill Williams Alligator (or Bollinger Bands)
• 200 EMA
• Daily Pivot Points
• Waddah Attar – dead zone set at 25
• Williams Awesome Oscillator – dead zone set at 2.5
• LBR 3/10 – Dead Zone set at 1.5

Explanation

• Ichimoku and EMA Identify Trend
• Only take longs when price is above Ichimoku and EMA
• Only take shorts when price is below Ichimoku and EMA
• Lagging span must be out of the cloud
• Do not trade if price is between cloud and EMA
• Alligator Identifies entries
• Only take longs when price is above Alligator Green Line
• Only take shorts when price is below Alligator Green Line
• Confirmation
• Take Longsonly if:
  • Waddah is Green and touching/above dead zone
  • AO is Green and touching/above dead zone
  • LBR is Green and touching/above dead zone
• Take Shortsonly if:
  • Waddah is Red and touching/above dead zone
  • AO is Red and touching/Below dead zone
  • LBR is Red and touching/below dead zone

thought it was supposed to simplify, not complexify.. that is one busy chart

 

[Quantum33]

loving the strategy, I was wondering if anyone could assist me with my renko bars not moving in real time. they seem to be stationary before new bar is made.

 

[merryDay]

loving the strategy, I was wondering if anyone could assist me with my renko bars not moving in real time. they seem to be stationary before new bar is made.

Script does not always print renko bars. Indicator is time-based and Renko is price action based.
PS: members have suggested having extended hours turned on.

 

[Chris77]

Could anyone explain when a bar is completed? how this ATR works? I just cannot find any good link online or in help menu. I know it's price based but dont understand what does it need to have to end a bar and start a new one. It really works for me.
Thank you for your help.

 

[Spesh]

Could anyone explain when a bar is completed? how this ATR works? I just cannot find any good link online or in help menu. I know it's price based but dont understand what does it need to have to end a bar and start a new one. It really works for me.
Thank you for your help.

Time-based charts complete when the clock has moved a certain amount of time. Renko bars complete when the asset has moved a certain price increment (which you can change).

https://www.investopedia.com/terms/r/renkochart.asp

 

[k_sitaram]

Here is the link to my shared grid, complete with my customized Studies... Comments welcomed... If you have questions, I'll do my best to answer them...

https://tos.mx/DHOcwrT

Hi, This URL is not working for some reason. Thinkorswim is stuck downloading and is not able to do the download.

 

[rad14733]

Hi, This URL is not working for some reason. Thinkorswim is stuck downloading and is not able to do the download.

I just tested the link, using the "To Open Manually" option, and it works... Also works from the link in your previous post...

 

[LearningStock2018]

I just tested the link, using the "To Open Manually" option, and it works... Also works from the link in your previous post...

It doesn't work for me as well. I can see chart when I click "preview" but can't import when I click "import". Could you please post a new link? Thanks.

 

[k_sitaram]

I just tested the link, using the "To Open Manually" option, and it works... Also works from the link in your previous post...

Yes. I am able to download. The problem in my case seems to be the default symbol futures symbol that is used for download. I changed it to SPY and it downloaded.

 

[k_sitaram]

Yes. I am able to download. The problem in my case seems to be the default symbol futures symbol that is used for download. I changed it to SPY and it downloaded.

Also very interesting. I added asgoodasitgets indicator and it is even better!