This thread is meant as a reboot to rockypoint's excellent thread. The reasons I feel this is warranted are that
1) the original title of rocky's thread described a system that has been left behind and replaced by rockypoint with the system that I and others prefer to the original.
2) This has led to much confusion by those who find recent posts on rocky's thread and then, when they go to page 1 to see what they have missed, it looks nothing like the system we are trading today.
3) The title of rocky's thread doesn't at all align with the current system, and this likely discourages some from checking out the new system because perhaps they looked into the original system years ago and found it not to their liking.
4) I believe the current system is robust, and some of those who might be looking for system that may or may not prove to be the basis of a consistently profitable methodology might find it worth studying but given the current bifurcated nature of rocky's thread and the length of it might miss being exposed to this great methodology.
Rockypoint's thread can be found here, and the first 112 pages are devoted primarily to the original system, which will NOT be a subject of this "rocky reboot" thread.
Williams%R, SAR X-over 15 minute candles | Forex Factory
The system we will be working with in this thread in the latest rockypoint system, which rocky first introduced with this post:
Williams%R, SAR X-over 15 minute candles | Page 112 | Forex Factory
I use Ninjatrader for my broker and trading platform. Here is my chart from today showing the entry and target on a long EURUSD trade using the 6E, which is the US futures contract that tracks the EURUSD:
For those who use MT4, you can find the rocky template indicators in thsi post from LiboCop:
Williams%R, SAR X-over 15 minute candles | Page 204 | Forex Factory
For those who use MT5, the indi's for the rocky template can be found in this post from LiboCop:
Williams%R, SAR X-over 15 minute candles | Page 183 | Forex Factory
For Ninjatrader, the main indicator you will need is the Heikin-Ashi indi, which can be downloaded for Free from this source:
Heiken Ashi 8 - NinjaTrader Ecosystem
All the indicators I use on Ninjatrader are Free except for the "MA Crossover by Ninza" which for this system I use only for its "cloud" function, and it is completely unnecessary. I use it for purely aesthetic reasons, and I do not suggest anyone go and buy it for this system. I am not affiliated in anyway with the author of that indi. Here is my complete list of indicators, highlighted in yellow, as I use the rocky system as of June 29, 2023:
You do not need all of these. I have been working on the rocky system for almost a year (maybe a bit longer) and as with any system, I have experimented and added things that I like to use. I encourage anyone who wishes to participate in this thread to likewise experiment and add his or her own customizations to the system if doing so makes trading more comfortable and profitable for you. However ... (there had to be a "however," right?).
However, all you need for this system is ...
1) two exponential moving averages: The 8 ema of the high and the 8 ema of the low, which creates an ema band; and
2) the ability to apply Heikin-Ashi candles to a Renko chart.
These are all free to both Ninjatrader users and MT4 & MT5 users.
I would suggest that if you are new to this rocky system, that you first work on it at its most basic and rudimentary level: Use just the 5 brick renko with Heikin Ashi applied, and the 8 ema bands. rocky uses a swing indicator that highlights short ter support and resistance, and many might find that indicator would be helpful to include right from the beginning as well.
I am not an expert on this or any system. I do not believe that my approach to rocky's system is the best and only way by any means. I welcome experimentation and innovation. If you were to compare my chart pictured above with one of rocky's charts, you will see that I have not been shy about adding various indi's and components. However, anyone familiar with rocky's method would immediately recognize that my chart is 100% based on his method.
I encourage you to trade the market you are most comfortable trading. I only ask that whatever changes you make to the system, that you you do not deviate from the Renko with Heikin Ashi and the ema bands. If you wish to change the settings of the Renko or the ema's that is fine. The only thing I ask is that whatever changes any of us do make, that the result is a system that is still immediately recognizable as the rocky Renko/Heikin-Ashi with ema bands system.
Finally, I wish to thank rockypoint for sharing this system with us, and I hope that going forward that he'll participate here with us as his schedule and trading allow. All credit to him for this system. I am just a follower and take no credit whatsoever. I have nothing but gratitude for rocky and his efforts to help his fellow traders here at FF.
EDIT: This is a very good thread here at FF that has similarities to the method in this thread. Highly recommend:
Roadmap - A Way To Read Markets | Forex Factory
Also by LauraT:
Just A Journal | Forex Factory
1) the original title of rocky's thread described a system that has been left behind and replaced by rockypoint with the system that I and others prefer to the original.
2) This has led to much confusion by those who find recent posts on rocky's thread and then, when they go to page 1 to see what they have missed, it looks nothing like the system we are trading today.
3) The title of rocky's thread doesn't at all align with the current system, and this likely discourages some from checking out the new system because perhaps they looked into the original system years ago and found it not to their liking.
4) I believe the current system is robust, and some of those who might be looking for system that may or may not prove to be the basis of a consistently profitable methodology might find it worth studying but given the current bifurcated nature of rocky's thread and the length of it might miss being exposed to this great methodology.
Rockypoint's thread can be found here, and the first 112 pages are devoted primarily to the original system, which will NOT be a subject of this "rocky reboot" thread.
Williams%R, SAR X-over 15 minute candles | Forex Factory
The system we will be working with in this thread in the latest rockypoint system, which rocky first introduced with this post:
Williams%R, SAR X-over 15 minute candles | Page 112 | Forex Factory
I use Ninjatrader for my broker and trading platform. Here is my chart from today showing the entry and target on a long EURUSD trade using the 6E, which is the US futures contract that tracks the EURUSD:
For those who use MT4, you can find the rocky template indicators in thsi post from LiboCop:
Williams%R, SAR X-over 15 minute candles | Page 204 | Forex Factory
For those who use MT5, the indi's for the rocky template can be found in this post from LiboCop:
Williams%R, SAR X-over 15 minute candles | Page 183 | Forex Factory
For Ninjatrader, the main indicator you will need is the Heikin-Ashi indi, which can be downloaded for Free from this source:
Heiken Ashi 8 - NinjaTrader Ecosystem
All the indicators I use on Ninjatrader are Free except for the "MA Crossover by Ninza" which for this system I use only for its "cloud" function, and it is completely unnecessary. I use it for purely aesthetic reasons, and I do not suggest anyone go and buy it for this system. I am not affiliated in anyway with the author of that indi. Here is my complete list of indicators, highlighted in yellow, as I use the rocky system as of June 29, 2023:
You do not need all of these. I have been working on the rocky system for almost a year (maybe a bit longer) and as with any system, I have experimented and added things that I like to use. I encourage anyone who wishes to participate in this thread to likewise experiment and add his or her own customizations to the system if doing so makes trading more comfortable and profitable for you. However ... (there had to be a "however," right?).
However, all you need for this system is ...
1) two exponential moving averages: The 8 ema of the high and the 8 ema of the low, which creates an ema band; and
2) the ability to apply Heikin-Ashi candles to a Renko chart.
These are all free to both Ninjatrader users and MT4 & MT5 users.
I would suggest that if you are new to this rocky system, that you first work on it at its most basic and rudimentary level: Use just the 5 brick renko with Heikin Ashi applied, and the 8 ema bands. rocky uses a swing indicator that highlights short ter support and resistance, and many might find that indicator would be helpful to include right from the beginning as well.
I am not an expert on this or any system. I do not believe that my approach to rocky's system is the best and only way by any means. I welcome experimentation and innovation. If you were to compare my chart pictured above with one of rocky's charts, you will see that I have not been shy about adding various indi's and components. However, anyone familiar with rocky's method would immediately recognize that my chart is 100% based on his method.
I encourage you to trade the market you are most comfortable trading. I only ask that whatever changes you make to the system, that you you do not deviate from the Renko with Heikin Ashi and the ema bands. If you wish to change the settings of the Renko or the ema's that is fine. The only thing I ask is that whatever changes any of us do make, that the result is a system that is still immediately recognizable as the rocky Renko/Heikin-Ashi with ema bands system.
Finally, I wish to thank rockypoint for sharing this system with us, and I hope that going forward that he'll participate here with us as his schedule and trading allow. All credit to him for this system. I am just a follower and take no credit whatsoever. I have nothing but gratitude for rocky and his efforts to help his fellow traders here at FF.
EDIT: This is a very good thread here at FF that has similarities to the method in this thread. Highly recommend:
Roadmap - A Way To Read Markets | Forex Factory
Also by LauraT:
Just A Journal | Forex Factory
My objective is to learn the skill of flawless execution of my trading plan