This is my first post here on the forum, but I’ve been reading it for about 6 months now. So far I’ve only been using fxstreet.com for paper trading and feel it’s time to try some real demo accounts. The indicators I like (from a purely hypothetical standpoint) are Renko, Kagi, Point & Figure and Ichimoku Kinko Hyo clouds. With that said, I seem to be running into a problem finding a platform that can handle all of them. Granted without trying them out, I’m going purely random forum posts found by Google, it seems that FXCM’s Trading Station II has Renko and Kagi but not sure about P&F or Ichimoku clouds. Metatrader does have Ichimoku (although one forum complained about the cloud not being colored in, is that true?) but may not be able to handle renko, kagi or point & figure charts properly. Indicators such as William’s, RSI or stochastics are simple enough that I’d assume any platform can handle them, the others seem fairly unique so might not be as standard.
Does anyone know of platforms which can handle all four of these indicators? Hopefully I can avoid some time trying out a bunch of demo accounts by asking here. Thank you for any and all responses.
Well if you did a little bit of math, I think you would understand the problem. I will make a wild assumption that fewer than 10% trade Renko and less than 5% trade the other three. So the number of traders like yourself who are looking for that combination of indicators would be .10x.05x.05x.05 = 0.0000125 or 0.00125%. Good luck in your search.
FXCodeBase has a point and figure indicator available for FXCM’s Trading Station desktop platform as a custom indicator. You just add the indicator to the chart and it lays it applies point and figure to the existing currency pair chart and time frame. Here’s where to find it FXCodeBase.COM: Forex Chart Indicators and Development • View topic - Point and Figure (P&F). If you need help adding custom indicators to the chart, see step 2 of this thread 301 Moved Permanently .
IKH is included by default; Renko, Kagi, and P&F indicators can be downloaded from MQL4: Automated Trading Forum.
Just use the forum’s search function and you’ll find them (I’ve just tried, they’re all available).
MT4 also allows you to colour every single line of every indicator according to your preferences.
Well i would personally recommend using Dealbook platform on GFT as it has pretty crisp kagi, pnf and renko charts. I agree with the above VT trader is very good too. Also maybe checking into Ninjatrader would be worth your time.
Though i wouldn’t recommend Metatrader as though it has the indicator for kagi, it isn’t that well drawn. Whereas the renko and pnf chart indicators require a little tweaking. Dealbook and VT trader on the otherhand are free, easy and well drawn.
This is my first post here on the forum, but I’ve been reading it for about 6 months now. So far I’ve only been using fxstreet.com for paper trading and feel it’s time to try some real demo accounts. The indicators I like (from a purely hypothetical standpoint) are Renko, Kagi, Point & Figure and Ichimoku Kinko Hyo clouds. With that said, I seem to be running into a problem finding a platform that can handle all of them. Granted without trying them out, I’m going purely random forum posts found by Google, it seems that FXCM’s Trading Station II has Renko and Kagi but not sure about P&F or Ichimoku clouds. Metatrader does have Ichimoku (although one forum complained about the cloud not being colored in, is that true?) but may not be able to handle renko, kagi or point & figure charts properly. Indicators such as William’s, RSI or stochastics are simple enough that I’d assume any platform can handle them, the others seem fairly unique so might not be as standard.
Does anyone know of platforms which can handle all four of these indicators? Hopefully I can avoid some time trying out a bunch of demo accounts by asking here. Thank you for any and all responses
Some of the answers to your Q are valid…but in my experience there are far more people trading renko than is realised, for a number of reasons.
You dont need indicators. (All they do is show the past, make money/or give the originaters a thrill)
Renko allows very fine tuning of entries (Missing all the pros ‘take out the idiots’ points)
Renko charts are clean, uncluttered, & show direction changes, consolidation areas like NO other charts)
Stick with Renko friend, you will still be around, & trading, when most of the names on these forums are long gone!
Happy trading
Hi Graytrader,
Have you tried GFT dealbook platform? it can display point and figure, renko and kagi charts. Likewise if you can get a free feed for the Ninjatrader platform i.e MBtrading, you will find the same charting available. Try both on demo’s and see which you prefer. I’m not to sure if they offer the Ichimoku Kinko Hyo clouds indicator with the above platforms.
I am sure you know but for others reading, in the end PnF, Kagi and Renko are just charts. All three are price dependant and omit the time relationship found in bar or candle charts. Understanding how to read them will be the best benefit rather then trying to find the most aesthetic platform.
I suggest those interested read Beyond Candlesticks by Steve Nison on the chapters of Kagi and Renko charts. Fwiw i personally use Kagi charts in my trading. But in the end i use line charts the most.
Hi TDH52, Sorry about my previous post.
The first part is a quote from post#1 this thread, the comments in bold are mine.
I don’t as a rule post on forums…too much smoke being blown up fundamentals, but I do trade live, & have won my living that way for sometime. Renko, & the other so called exotic charts, are the only way to go. Once you allow time into trading you might just as well give your money to your broker & get it over with. Time belongs on a clock, & has no place in trading.
Buses & Trains run to time tables…, you’ll get the same results with trading. Enough said.
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