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Renko or Ranged Bars ?

StaticX

Member
Hi Guys,

Over the past week, I have been learning how to trade the Woodies CCI method and I am liking it very much. My win ratio has been the highest it has ever been since I started trading.

One of the more quirky aspects to Woodies method is that it makes of use Range bars, I have manage to locate one of the best Range Bar scripts out there from MQLSERVICES, but he charges 60 Euros for it.

Then I started paying attention to some of Joy22'S posts and saw he loves using Renko bars. So I obviously started looking into them and they appear to be almost the same. (which I am guessing they are not). Just in case there is anyone else like me that did not know the difference between Ranged Bars and Renko Bars, here is the explanation:

"The range bar measures a set range of price movements and when that range is met the bar prints. A renko bar does the same except the range has to be all in one direction for the bar to print. So with a 10 tick renko bar the range has to be all up or all down for it to print"

So does anyone have an opnion on which are more suitable for Woodies CCI method? Renko or Range Bars...

Much appreaciated for any help.

Cheers
StaticX
 

StaticX

Member
Think I have the answer to my question.

Range Bars... First rule of Woodie, Do not change or deviate from the Woodie, do not add to the Woodie, do only what Woodie would do...

Errmmm, I smell a celt... but jokes aside, Mr Woodie has and is doing a really good thing here... 32+ years of trading and he is still going strong...
 

Joy22

Member
Hi Guys,

Over the past week, I have been learning how to trade the Woodies CCI method and I am liking it very much. My win ratio has been the highest it has ever been since I started trading.

One of the more quirky aspects to Woodies method is that it makes of use Range bars, I have manage to locate one of the best Range Bar scripts out there from MQLSERVICES, but he charges 60 Euros for it.

Then I started paying attention to some of Joy22'S posts and saw he loves using Renko bars. So I obviously started looking into them and they appear to be almost the same. (which I am guessing they are not). Just in case there is anyone else like me that did not know the difference between Ranged Bars and Renko Bars, here is the explanation:

"The range bar measures a set range of price movements and when that range is met the bar prints. A renko bar does the same except the range has to be all in one direction for the bar to print. So with a 10 tick renko bar the range has to be all up or all down for it to print"

So does anyone have an opnion on which are more suitable for Woodies CCI method? Renko or Range Bars...

Much appreaciated for any help.

Cheers
StaticX

what is this method?

joy22
 

StaticX

Member
OOOO Yes please Joy, I would really appreaciate that very much.

I am giving you guys a link to my WoodiesCCI method (pdf files) and indicator collection that I am following now. (Also included is the latest pdf from Woodies Club, release 2.1)
The pdf documents were actually orignally posted by Joy himself many many many posts ago and most recent I saw them surfice again the EBooks section from Bonnie1234.
Thanks guys for posting these!!!

Just a note on the indicators I have so far:
Of all the indicators in the zip I am using the following:
1. FX Sniper's CCI
2. FX Sniper's CZI Overlay Final (Chopzone indicator)
3. FX Sniper's SideWinder Overlay (Sidewinder indcator)
4. FX Sniper's LSMA

I am going to be testing these ones this weekend to see how they perform.
1. CCI_Woodies_Lnx_HMA_v2
2. CCI_Woodies_Lnx_v1_1_TFmod
3. SuperWoodieCCI
4. Woodie_CCI_Adv.1.0 (apparantly this one is quite good)
5. CCI_Woodies_Lnx_v6

And the last indicator and most important is the Range Bar indicator
Which I do not have yet.

The more I get into Woodies CCI the more I regret not looking at it when I first got into trading :(

Woodies CCI never really took off with MetaTrader traders as MT4 did not have built in support for range bars like the other paid for trading platforms.

I have also just got hold of the Woodies Club Home Study DVD... but the last disk (disk 6) appears corrupt so I am re-downloading it. I will upload it as soon a I get some time (it's 2Gigs)

Hotfile link to
Code:
 [URL="http://hotfile.com/dl/88742355/874b5ca/Woodies_CCI_Indicators.zip.html"]WOODIES CCI Methods and Indicators for MT4[/URL]

I personally trawled through Forex-TSD last night getting all these indicators...

Cheers
STaticX
 

Joy22

Member
OOOO Yes please Joy, I would really appreaciate that very much.

I am giving you guys a link to my WoodiesCCI method (pdf files) and indicator collection that I am following now. (Also included is the latest pdf from Woodies Club, release 2.1)
The pdf documents were actually orignally posted by Joy himself many many many posts ago and most recent I saw them surfice again the EBooks section from Bonnie1234.
Thanks guys for posting these!!!

Just a note on the indicators I have so far:
Of all the indicators in the zip I am using the following:
1. FX Sniper's CCI
2. FX Sniper's CZI Overlay Final (Chopzone indicator)
3. FX Sniper's SideWinder Overlay (Sidewinder indcator)
4. FX Sniper's LSMA

I am going to be testing these ones this weekend to see how they perform.
1. CCI_Woodies_Lnx_HMA_v2
2. CCI_Woodies_Lnx_v1_1_TFmod
3. SuperWoodieCCI
4. Woodie_CCI_Adv.1.0 (apparantly this one is quite good)
5. CCI_Woodies_Lnx_v6

And the last indicator and most important is the Range Bar indicator
Which I do not have yet.

The more I get into Woodies CCI the more I regret not looking at it when I first got into trading :(

Woodies CCI never really took off with MetaTrader traders as MT4 did not have built in support for range bars like the other paid for trading platforms.

I have also just got hold of the Woodies Club Home Study DVD... but the last disk (disk 6) appears corrupt so I am re-downloading it. I will upload it as soon a I get some time (it's 2Gigs)

Hotfile link to
Code:
 [URL="http://hotfile.com/dl/88742355/874b5ca/Woodies_CCI_Indicators.zip.html"]WOODIES CCI Methods and Indicators for MT4[/URL]

I personally trawled through Forex-TSD last night getting all these indicators...

Cheers
STaticX

this is the script

constant range bar

joy22
 

Attachments

  • s-Constant Range Bars.ex4
    15 KB · Views: 2

StaticX

Member
Thank you so much Joy, I really appreaciate this.

Now I can really start using Woodies properly.

I've been practicing using the trade simulator, and I have to admit that what they say in the document is 100% true, it really does remove the emotion out of the trade. So long as you stick the Woodie rules, your trades will have very small losses and far better wins. (I must admit it's kind of strange to not watch the price bars anymore and just focus on the Woodies CCI indictors. It's quite remarkable too see how it indeed does seem to react far faster than if I were trading the price action. It definately gives you at least 2 bars earlier entries and can keep you in the trade right up to the last minute...)

Just a heads up for anyone who is going to read that "Trading Woodies CCI System.pdf" the author of that document really drives home the fact that you are to forget all you know and stick to the Woodie Rules... he repeats this at least 6 times per page. I am currently on page 25 out of 52 and he is still going strong (I think by page 15 I kind of get it now... stick to Woodie Rule)

So in a nutshell I am slowly going to be moving away from using the Forex Stealth system and Forex Rebellion and hope to focus consistently on the Woodies CCI method.

Cheers
StaticX
 
S

swissforex

a new approach

a new approach

Hi guys

thx for sharing

Woodie is an interesting approach ;)
 

StaticX

Member
Hi Fscrp,

If you are looking for those woodies indicators, rather get the updated indicator pack from the Woodies Thread that I created as a spin off from this thread.

Code:
[URL="http://www.worldwide-invest.org/trading-systems-strategies/1548-woodies-cci-method.html"]Thread Link to Woodies-CCI Method[/URL]

Cheers
StaticX
 

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