Renko Ashi Trading System 2
Please read the pdf manual for this system. Good luck everyone.
PS: Reuploaded the fixed ma in applied price indicator. Special thanks to FXchaser
PS: Reuploaded the fixed macd alert indicator. Special thanks to Puzzlebird
PS: Reuploaded a Special Settings Template for USDJPY pair, the most easiest pair to trade in Renko Ashi 2.
NEW! PS: Reuploaded MACD ALERT 2 Indicator, Fixed the repaint Issue and ability to turn on and off the alarms, Special Thanks to Silvio Invernici On this post here
Please note that you must only take trades. (Which i have missed to mention in the manual clearly)
Buy - When macd is above 0 level and all conditions met as per the rules in manual.
Sell - When macd is below 0 level and all conditions met as per the rules in manual.
Recommended Broker for trading renko, with low spreads, cents/mini and standard accounts.
Leverage 1:50 to 1:1000 with 150 currencies and 500 CFD's to trade.
Automatic e-currency deposit/withdrawal.
Its a GMT broker so its very easy to trade sessions as your candles are on GMT timezone.
I would just like to say that i wont be paying much attention or posting much in my topic anymore.My only wish is that those interested in trading renko with their own intention and interest may take this topic forward and post their own renko based ideas and strategies.As for me, i will watch this topic for others ideas once a while and keep hoping someone comes out with something better for renko.I'm still trading on renko and i think i will probably continue to do so.Thank you for reading and please do not direct any questions to me, i know there are nice people here who would take the initiative to answer your questions.
Have a Happy New Year Ahead!
ANd if you would like to support me, please register in EXNESS (Its where i trade) by joining it under my link.
Commercial Version of My Renko System. $500
Usdjpy Money Management
Hi Fellow Traders,
I am also going to share with your a money management plan, Remember that its really not necessary to invest 100,000 dollars to make 20-40k a month. You can do that even with as little as a 100 bucks over a course of 5months using my plan. I'm not bluffing its true, because my friend George (CTMAN on forex-tsd) has really made multi-millions in the forex market, it was not really his trading(he switches to 100 systems a year) or the pips, it was his Money Management and the Plan he strictly follows.
Attached are 2 spreadsheets.
1. USDJPY Progression MM - This will show you a hypothetical chart of how you can grow 100 USD to 95k in 20 weeks, 5months of time. If you achieve a certain weekly goal.
2. USDJPY Input MM - You may use this spreadsheet to input your daily Profit/Loss and it will automatically suggest you the lot size you need to invest on your next trade.
Remember that you cannot blow your 100 bucks period! If you just follow what the Money Management Suggests. Because as your balance grows your lot size increases and if you balance falls your lotsize reduces.
I would suggest a good ECN type spread broker with microlots, The only one i found that accepts a small deposit, lets you plan in micros and have spreads like 0-1pip on USDJPY is the Exness Broker, Its a broker im personally using and HEY im not sharing all this for the intention of referral fees from a broker, the 1/4 pip spread commission means squat to me, Its just the broker i found great for this strategy and lets you invest a small amount with good trading conditions. However you may use any broker you wish like fxdd, alpari, ibfx, fxpro or so. That have good spread and microlot support.
Hey thier providing a deposit bonus of 25% for the whole of 2010 if you signup with them before 1st Jan 2010!
My broker Link - https://www.exness.com/a/2705
I plan to grow 100 USD in this broker to 20,000 USD initially in next year in the coming months, thats my plan 1. Plan 2 will then be to shift out 10,000USD to a bigshot broker like Dukascopy and bridge it to my metatrader, trading plan 2 for the longterm goal to make 1000k+ hopefully.
So i have Exness where i would play with a fixed size like 1Lot and make a 100-200 pips a week = 1-2k a week
And have dukascopy go into longterm compounding till i reach 1000k or more .
Well my fellow traders, I've personally shared whatever the hell there is with regards to the renko trading system and I have posted what i believe is the perfect renko system with all the necessary tools.
I suggest USDJPY over others because it has a very easy and non-risky price action, Pairs like EURUSD or GBPUSD tend to go helter scelter the moment you pull the trade trigger. This is now what i like, I just want to go with a instrument that is easy and a plan that is easy to follow, making my 200 pip weekly for the next 20 weeks to achieve my targets.
I think i have exposed everything with regards to renko. Now just need to stick to the plan next year and follow it all the way to Success!
I will now be moving to write on the new strategy, Ghostrider EUR/GBP and hopefully working with sincere traders to fine tune it to the max. EURGBP is another pair that has a very easy low-risk price action which if tapped successfully can make more daily money without the sweat on the brow hehehe/
Goodluck Everyone and wish you all Success!
Everything in post 1
Interesting, there is more and more interest in Renko charting, i already have a few renko script, i look forward to see your template setup once it will be approved. Have you developed the system by your self? How is the Heiken-Ashi is used with the renko candle? Unless it is only for visual aid isn't renko is already filtering the noise?
Hi mr_nims, I'm interesting with your system but for some reason I can not download your attachment. Maybe because you are not enough post to this forum.
I'm still waiting your attachment to download.
Yes, i have made the system for myself and quite successful and hence i have decided to share it here, but no i have not created the indicators and script myself its all thanks to the forex-tsd and indo investasi forums, Thats why i think i should share with traders here just like they have shared with me.
Renko charts are basically non-timeframe price based chart. So it doesn't care about time only concentration is on the price, which is quite helpful because the noisy time-frame based candles tend to confuse and usually put trader in wrong directions.
I have merged heiken ashi candles over 5pip renko candles to identify price based trend because price can also be nasty at times and so filtering out noise, time with renko plus filtering out price movement fakeout with heiken ashi candles = high probability scalp trades.
I bet anyone will be able to easily make 10-20pip over and over again at-least 2-3 times a day with a minimalistic stop-loss like 10pip+spread. I personally trade this system live with 50% of my balance and a weekly target of 200pip minimum. (100% growth per week)
Your very aggressive trader! I bet it work on higher time frame because i am unable to scalp lower time frame. Do you have any suggestion in adjusting renko box size accordingly with higher time frame?
lol, I'm not an aggressive trader, actually i just deposit 20-30% of my forex money in broker account and trade 50% of that aggressively and compounding lot size increment every week.
Dude, Renko chart is not a time-frame base chart, there is no higher and lower timeframe, only it show box size depend on how many pips you input.
I think if you do not have the time, change box size to say 25-50pip and stoploss double of box size you input. The renko script im using it need that price to go against double of previous box size to change from bull to bear or vice versa. Example: If box size is 25pip big and is bull, so price needs to go -25 and -25pip more to change to bear (more concrete evidence that price action has reverse), so stoploss in this case will need to be 50pip + spread.
Hi Sir, Its an honor to me that you have paying attention to my topic. I have been using a lot of your indicators since years. I still use the marketprice indicator you have developed.
I think now everything is approved.
Thanks a lot!
Thank you Mr_Nims for sharing your system. It's very much appreciated