The new Iscalper trading system

[yamantaka]

Yamantaka,

Settings: see post 49 of this thread and in the promovideo there is a fragment where he shows the University area. In that section there is a screen with proposed settings for the popular instruments. These settings range. But the quality of the video is so bad (or my eyes so bad) I can not read those settings. Perhaps you are more lucky. I hope these are the settings you are looking for.

 

Delay dots: You found that the dots delay the color change of the bars. Well, perhaps that is the purpose of the method (I just am thinking free now, trying to contribute my thoughts). Do you know how the dot signal is generated? This question is still on my mind as I can not make up how the signal is generated when I read the CS file (No programmer). Perhaps we should first try to find out what the purpose is of the dot and, as per your research, why it delays.

I still think the system works great if you refrain from trades without the dot. Delay or no delay.

Did you look to how the dots are generated (sorry for repeating the question in this thread)? I think that may give a clue to those who want to replace the elements of this method by other indicators. For me personally: I do not like blackboxes and knowing how the dots are generated will bring me to new insights.

 

Bands: At time of bar close the location of the bands is WMA. You decide for entry when bar closes. Color of band (apparently TMA repaiting) at time of bar close is important. Even in a sideways going market the system works great (conservative settings). How the bands appear after the trade : I don not care as I do not see the purpose (except that iScalper will sell on showing that picture).

 

Other indicators: Personally I think it may be a first option to fully test the system as it is. No over optimizing in settings so you get a millionaire with last weeks data. I think it is better to take conservative settings and aim for the less trades but higher probability and lower risk scenario. If you get too greedy then a sideways market will kill you due to the too tight settings. Throwing in other indicators will make the system more complex and is perhaps also the trap why so many traders keep on looking for other systems all the time and continuously keep replacing elements by to other elements.

 

Chris spoke of settings other than the range of the bar, I thought.

[CashManic]

I am getting some queries through pm box stating that they are unable to play .mp4 video files through Windows Media Player.OK it may be that you don't have the proper audio/video codecs installed BUT I figure the best explanation is that you don't have FLV Media player which would easily play these files.Go here to download and as long as you download from this site(developer's site) you won't get any spyware installed too.

http://www.videolan.org/

However if you don't want to download anything, I can always upload the 2 vids here on the forum,in this thread.. Just let me know how it goes.

Cheers,:)

Cash.

[rondonelli]

First two rapid fire trades and 22 tick profit and I am done. First trade had slippage of 3 ticks.

 

http://s22.postimg.org/d83cp41u9/TF_12_14_9_i_Renko_12_1_2014.jpg' alt='TF_12_14_9_i_Renko_12_1_2014.jpg'> hosting image[/img]

Edited December 1, 2014 by rondonelli

[CashManic]

First two rapid fire trades and 22 tick profit and I am done. First trade had slippage of 3 ticks.

 

http://s22.postimg.org/d83cp41u9/TF_12_14_9_i_Renko_12_1_2014.jpg' alt='TF_12_14_9_i_Renko_12_1_2014.jpg'> hosting image[/img]

 

Nice rondo. I see you are on fire lately.

Imagine if we manage to iron out the kinks and turn this baby into a fully automated strategy?

[yamantaka]

Here is another idea I am working on. It involves same concept of angled moving avg or band defining prevalent trend but different indicator set. I have not live traded this. I invite other members to braisnstorm it find flaws and refine it further. I have marked today's trades. It needs following indicators.

 

bwprecisionrenko bars (settings of 8 and 300%)

bwprecision trend (settings of 2 volatility stop)

tmabands (mine not crashed today)

 

I have not decided on stoploss or profit targets Here is the screenshot

 

http://s24.postimg.org/uvd48ct3p/TF_12_14_BWTPrecision_Renko_8_Ticks_300_11.jpg' alt='TF_12_14_BWTPrecision_Renko_8_Ticks_300_11.jpg'> upload pictures free[/img]

Have you given up on these tweaks since your having good success with the default indicator?

[rondonelli]

Yamantka

 

I have not given up on this system but my problem with this is long stoploss but you can see that system worked very well today too, first trade which came 9:32 was questionable as bands were not in steep decline, 10:11 trade was failure and 10:18 trade was very successful, I yet to figure out stoploss, I like iscalper because of its clean look and small stoploss. any suggestion?

[profile]

Materials from iScalper.

 

Settings part 1 www.youtube.com/embed/xW9YdJOseiU?

Trade entry part 1 www.youtube.com/embed/kHgpANWfj0s?

Intro part 2 www.youtube.com/embed/ufvxkRaP0as?

Trade entry part 2 www.youtube.com/embed/EL07uK8Efik?

Intro www.youtube.com/embed/NH7-BHF7l_E?

Start here www.youtube.com/embed/pWEqMXTYGAI?

 

 

iScalper Time Frames

 

Renko Chart Time-Frame Settings

Here are the settings we suggest while trading intraday action with the iRenko candlesticks for the following common Futures instruments (with a 12% to 40% offset)…

 

6A – 4 to 9 tick iRenko

6B – 4 to 9 tick iRenko

6C – 4 to 9 tick iRenko

6E – 4 to 9 tick iRenko

6J – 4 to 9 tick iRenko

6N – 4 to 9 tick iRenko

6S – 4 to 9 tick iRenko

 

ES – 3 to 6 tick iRenko

NQ – 4 to 8 tick iRenko

TF – 6 to 10 tick iRenko

YM – 6 to 10 tick iRenko

DAX – 6 to 10 tick iRenko

NG – 6 to 9 tick iRenko

GC – 5 to 9 tick iRenko

 

SI – 5 to 10 tick iRenko

CL – 6 to 10 tick iRenko

BRN - 6 to 10 tick iRenko

ZB – 3 to 5 tick iRenko

ZN – 3 to 5 tick iRenko

ZW – 4 to 7 tick iRenko

ZC – 4 to 7 tick iRenko

 

Best iRenko "Brick size" settings examples below for scalping spot market Forex intraday positions;

 

EURUSD – 4 to 9 tick iRenko

GBPUSD – 4 to 9 tick iRenko

USDJPY – 4 to 9 tick iRenko

AUDUSD – 4 to 9 tick iRenko

 

Best iRenko settings for Scalp Trading spot market Forex (intraday positions);

 

Use 4 pip to 9 pip "Brick size" settings with standard sized Forex positions. For "micro lot" Forex accounts set “Brick size” settings to 40 = 4 pip and 90 = 9 pips.

 

Best iRenko settings for Position Trading spot market Forex (intraday to multi-day positions);

 

9 pip to 15 pip "Brick size" settings with standard sized Forex positions. For "micro lot" Forex accounts set “Brick size” settings to 90 = 9 pip and 150 = 15 pips.

 

Best iRenko settings for Swing Trading spot market Forex (multi-day positions);

 

15 pip to 30 pip "Brick size" settings with standard sized Forex positions. For "micro lot" Forex accounts set “Brick size” settings to 150 = 15 pip and 300 = 30 pips.

 

Good stuff to keep you guys and gals off the streets......

[yamantaka]

The best of all is this ad (from their webpage):

 

What I could see on their promotion videos, try to use RJay's ChannelPivots2 bars together with (for example) anaKeltnerUniversal indicator to get almost the same. Pure scam and these bare feets...X_X

Hi admis,

 

Did you by chance take a closer look at the code to see if iScalper is indeed very similar to RJay's ChannelPivots2 bars anaKeltnerUniversal indicator?

 

Can one of you kindly link me to RJay's ChannelPivots2 bars? Thanks in advance.

Edited December 1, 2014 by yamantaka

[yamantaka]

Yamantka

 

I have not given up on this system but my problem with this is long stoploss but you can see that system worked very well today too, first trade which came 9:32 was questionable as bands were not in steep decline, 10:11 trade was failure and 10:18 trade was very successful, I yet to figure out stoploss, I like iscalper because of its clean look and small stoploss. any suggestion?

I don't have any suggestions yet, and it seems you're getting the hang of, so stick with what works for now. Great to seefellowloe trader making money with a vendor product. It's so very rare!

[yamantaka]

Materials from iScalper.

 

Settings part 1 www.youtube.com/embed/xW9YdJOseiU?

Trade entry part 1 www.youtube.com/embed/kHgpANWfj0s?

Intro part 2 www.youtube.com/embed/ufvxkRaP0as?

Trade entry part 2 www.youtube.com/embed/EL07uK8Efik?

Intro www.youtube.com/embed/NH7-BHF7l_E?

Start here www.youtube.com/embed/pWEqMXTYGAI?

 

 

iScalper Time Frames

 

Renko Chart Time-Frame Settings

Here are the settings we suggest while trading intraday action with the iRenko candlesticks for the following common Futures instruments (with a 12% to 40% offset)…

 

6A – 4 to 9 tick iRenko

6B – 4 to 9 tick iRenko

6C – 4 to 9 tick iRenko

6E – 4 to 9 tick iRenko

6J – 4 to 9 tick iRenko

6N – 4 to 9 tick iRenko

6S – 4 to 9 tick iRenko

 

ES – 3 to 6 tick iRenko

NQ – 4 to 8 tick iRenko

TF – 6 to 10 tick iRenko

YM – 6 to 10 tick iRenko

DAX – 6 to 10 tick iRenko

NG – 6 to 9 tick iRenko

GC – 5 to 9 tick iRenko

 

SI – 5 to 10 tick iRenko

CL – 6 to 10 tick iRenko

BRN - 6 to 10 tick iRenko

ZB – 3 to 5 tick iRenko

ZN – 3 to 5 tick iRenko

ZW – 4 to 7 tick iRenko

ZC – 4 to 7 tick iRenko

 

Best iRenko "Brick size" settings examples below for scalping spot market Forex intraday positions;

 

EURUSD – 4 to 9 tick iRenko

GBPUSD – 4 to 9 tick iRenko

USDJPY – 4 to 9 tick iRenko

AUDUSD – 4 to 9 tick iRenko

 

Best iRenko settings for Scalp Trading spot market Forex (intraday positions);

 

Use 4 pip to 9 pip "Brick size" settings with standard sized Forex positions. For "micro lot" Forex accounts set “Brick size” settings to 40 = 4 pip and 90 = 9 pips.

 

Best iRenko settings for Position Trading spot market Forex (intraday to multi-day positions);

 

9 pip to 15 pip "Brick size" settings with standard sized Forex positions. For "micro lot" Forex accounts set “Brick size” settings to 90 = 9 pip and 150 = 15 pips.

 

Best iRenko settings for Swing Trading spot market Forex (multi-day positions);

 

15 pip to 30 pip "Brick size" settings with standard sized Forex positions. For "micro lot" Forex accounts set “Brick size” settings to 150 = 15 pip and 300 = 30 pips.

 

Good stuff to keep you guys and gals off the streets......

Anything on suggested Band and Bar Length/Smoothing inputs for these instruments?

[admis]

Hi admis,...

 

Did you by chance take a closer look at the code to see if iScalper is indeed very similar to RJay's ChannelPivots2 bars anaKeltnerUniversal indicator?

-I've already uploaded the sources. No, I've not spent much time to analyze it. iRenko vs RJ ChannelPivots2 both look similar but they are different, so anaKeltnerUniversal is not comparable to iBands.

 

Can one of you kindly link me to RJay's ChannelPivots2 bars? Thanks in advance.

Here, they are both: iRenko & RJ ChannelPivots2 (sources) : https://www.sendspace.com/file/mpsb28

[rondonelli]

I experimented with crude settings today in realtime, did'nt do any trdade and imo settings of 15,1,15 worked best with 22 -25 tick stop and same profit target. Crude is lot more volatile and once in motion it just keep running while russell keep coming back to same level over and over again. Screenshot attached.

 

http://s18.postimg.org/xuvqlexah/CL_01_15_15_i_Renko_12_1_2014.jpg' alt='CL_01_15_15_i_Renko_12_1_2014.jpg'> image sharing[/img]

[enzofox]

http://my.jetscreenshot.com/demo/20141202-qdha-188kb

 

I do not like it

[admis]

http://my.jetscreenshot.com/demo/20141202-qdha-188kb

 

I do not like it

 

Enzo, you don't have to use iRenko. Try other bars convenient to you.

 

btw. You are using a demo account at jetscreenshot regularly and after 24 hours your images disappear.

This is a demo account that must be used for testing purposes only!

 

We will remove your file from our server within 24 hours without any prior notice.

 

If you don't mind, try to use another image server, like this one: http://postimage.org/

 

 

Postimage.org was founded in 2004 to provide forums with an easy way to upload images for free. Postimage is a very simple, fast, reliable free image host. It's perfect for linking to auctions, message boards, blogs, and other websites. Postimage guarantees maximum uptime and performance so your image will be here whenever you need it. There is no registration or login, all you have to do is submit your picture. With continuous upgrades and dedicated staff Postimage is the #1 solution for Free Image Hosting.

Thanks in advance. :)

[rondonelli]

Enzofox

Like any system this one has failures but one can avoid taking trades around chop or after a steep run or not taking trades when band just turned green. Let the bands be in visible up or down trend.

[profile]

Enzofox, I agree with Rondonelli. Do not enter the trade blindly when a signal arrives. Look to color of bands at time of entry. Do not look to bands in hindsight !!!!!!!Use wide bands (1,1 e.g.) and higher period (56) for less trades, but higher probability and much lower risk. With these settings you also circumvent choppy areas. Do not be greedy

 

THIS IS SCALPING !!!!!!!

Take as target e.g 5 ticks.Stoploss the red line.

Now you will see many more YES than NO on your charts.

[⭐ JDizzle22]

Enzofox, I agree with Rondonelli. Do not enter the trade blindly when a signal arrives. Look to color of bands at time of entry. Do not look to bands in hindsight !!!!!!!Use wide bands (1,1 e.g.) and higher period (56) for less trades, but higher probability and much lower risk. With these settings you also circumvent choppy areas. Do not be greedy

 

THIS IS SCALPING !!!!!!!

Take as target e.g 5 ticks.Stoploss the red line.

Now you will see many more YES than NO on your charts.

 

If it was that simple, all you would have to do is put an auto trader on and start printing money....there's a reason this is sold as a "discretionary" system....there's also a reason it repaints....most people are going to lose money trading this "system"....an inverse R:R will lead to most new traders losing their shirts--I think R:R/money management is one of the most talked about subjects in/by most trading books/gurus and still ppl trade with inverse R:R

[rondonelli]

If it was that simple, all you would have to do is put an auto trader on and start printing money....there's a reason this is sold as a "discretionary" system....there's also a reason it repaints....most people are going to lose money trading this "system"....an inverse R:R will lead to most new traders losing their shirts--I think R:R/money management is one of the most talked about subjects in/by most trading books/gurus and still ppl trade with inverse R:R

 

Inverse r/r means more risk and small profit you mean?. If yes than it is a myth to find a system where your risk is less than your profit. If there exist a system it would not be sold to public, we all have tried myriad of systems in these forums and we still look for one. In fact I will argue that even in real life its not possible to have positive r/r, yes sometime you can hit jackpot but how many times you can hit it, its like hitting home run in baseball but not many hit in a game.

 

I think taking small consistent profits with sound money management is the key to daytrading imo. I also realize most daytrder fail miserably because of lack of funds, taking more risk than you afford

[enzofox]

................................................... Edited December 2, 2014 by enzofox

[⭐ JDizzle22]

Inverse r/r means more risk and small profit you mean?. If yes than it is a myth to find a system where your risk is less than your profit. If there exist a system it would not be sold to public, we all have tried myriad of systems in these forums and we still look for one. In fact I will argue that even in real life its not possible to have positive r/r, yes sometime you can hit jackpot but how many times you can hit it, its like hitting home run in baseball but not many hit in a game.

 

I think taking small consistent profits with sound money management is the key to daytrading imo. I also realize most daytrder fail miserably because of lack of funds, taking more risk than you afford

 

Inverse R:R means you are taking more risk than your potential profit, so ones needs a very high win percentage to make a profit, especially when you take into account commission. The actual myth is a little more specific, you won't find a commercial system that has a positive R:R for the simple fact that the vast majority of commercial systems are losers, so by definition after they are traded their R:R is negative. Are you suggesting that you can't have bigger winners than losers? LOL, in real life people dont have a positive R:R because they are losing; you don't need to hit the jackpot to have a R:R above 1. I never suggested a R:R of 3, 4...etc. Pppl who win, generally, have a positive R:R of 1 or above--there is a select few among the select few who can make profit with less than a 1:1 R:R--so if the advice to people who aren't making money is to have a R:R that is less than one, then the 5% that is normally talked about who make it in trading has now been lowered and the bar is that much higher.

 

I like the point about margin--I became consistent, instead of just barely break even when I lowered my margin and stopped looking at $ and focused on ticks/points.

[yamantaka]

If it was that simple, all you would have to do is put an auto trader on and start printing money....there's a reason this is sold as a "discretionary" system....there's also a reason it repaints....most people are going to lose money trading this "system"....an inverse R:R will lead to most new traders losing their shirts--I think R:R/money management is one of the most talked about subjects in/by most trading books/gurus and still ppl trade with inverse R:R

I agree. There is no reason why this should repaint and I don't buy the explanation from Chris. If the important thing is to look to the current band for color, that's fine, but to effectively rewrite history is akin to lying. With the software in its current state, you'll never be able to get anything close to a decent backtest using historical (not realtime) data. I do beleive this can be converted to an auto trader with alot of hard rules to avoid the myriad of false signals.

[CashManic]

I do beleive this can be converted to an auto trader with alot of hard rules to avoid the myriad of false signals.

 

Taka-san are you going to give it a shot? With your coding skills and resources,I am sure you'll be able to get it done before Christopher can.;)

[CashManic]

 

Settings part 1 www.youtube.com/embed/xW9YdJOseiU?

Trade entry part 1 www.youtube.com/embed/kHgpANWfj0s?

Intro part 2 www.youtube.com/embed/ufvxkRaP0as?

Trade entry part 2 www.youtube.com/embed/EL07uK8Efik?

Intro www.youtube.com/embed/NH7-BHF7l_E?

Start here www.youtube.com/embed/pWEqMXTYGAI?

 

 

Thanks profile. But I believe you may have inadvertently left out the important video iSCALPER Settings Part 2 where Chris goes in-depth with the recommended default settings of Iscalper when you select it in NT7. About 25 mins long.

 

https://www.youtube.com/watch?v=HiJ7DlE0CXM#t=115

 

Cheers all,

Cash.:)

[rondonelli]

Finally done for the day.

09:34 could not take trade way too fast and market moved 5 candle in one second.

09:37 ended up breakeven

09:48 short made 11 ticks

10:00 buy failed 14 tick loss

10:53 trade buy made 11 ticks

p/l 8 ticks. Got to go for meeting

 

I saw two good trades at 10:02 and 10:42 but for some reasons there was no dot so did not enter

Edited December 2, 2014 by rondonelli

[yamantaka]

Taka-san are you going to give it a shot? With your coding skills and resources,I am sure you'll be able to get it done before Christopher can.;)

I'm mulling it over, but first I want to see if I can make a profit with discretion.