90% Winning strategy with Renko Chart.(Actually works 90%..wow)

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JonahHasArrived
7
JonahHasArrived  

Very simple. Use the standard 8-10 pips renko bars, I prefer 8 pips.


If you wanna use bitcoin, set it at 14000 pips(which is about 10 pips).

So you wanna go to the four hour chart, and look for 3 bars and one candle reverse. After you see the price action setup, enter on the 2nd bar(in pictures). For me I put my take profit at the end of the 2nd bar, so I'm guranteed 10 pips every trade.


Renko

Also, to see if it's a legitimate 3 bar reversal switch to the 1hr back to the 4hr. If the 3 bars setup dissappear, don't TRADE! I Repeat do not take the trade. If it still shows up the setup when you switch time frames, ok then those are permanent renko bars that will stay there.




Here's how many times it worked on bitcoin. x is for lost, blue line is for win:


If you travel scroll over left more, you will see it worked pretty much all the time, even though there were losers at times



o

Sergey Golubev
Moderator
106036
Sergey Golubev  

Renko


The forum

  1. Heiken_Ashi_Ma_T3 indicator for Mr.Nims, Renko Ashi Scalping System thread 
  2. Are Renko charts more profitable? - the thread with the information and indicators to download
  3. Renko Bar |Day Trading | What are Renko Bars | How do Renko Bars Work - the post with video
  4. Renko (extraction from Achelis - Technical Analysis from A to Z) - the post with mini-article 
  5. How to Use Renko Bricks and Moving Averages to Find Trades - the post 
  6. The 3 Step EMA and Renko Strategy for Trading Trends - the post with mini-article 
  7. Trading Trends with Renko Charts - the post with mini-article
CodeBase

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  4. Renko_v2- indicator for MetaTrader 5
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  7. Renko Charts- indicator for MetaTrader 4 
  8. Renko- indicator for MetaTrader 5 
  9. Renko_v1- indicator for MetaTrader 4
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  11. Tipu Renko Live- indicator for MetaTrader 4  
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  15. RenkoShade2 - Draws Renko boxes in normal TF- indicator for MetaTrader 4 
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Articles

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  2. How to create an indicator of non-standard charts for MetaTrader Market - MetaTrader 4 article 
  3. Synthetic Bars - A New Dimension to Displaying Graphical Information on Prices - MetaTrader 4 article 
  4. Indicator for Constructing a Three Line Break Chart - MetaTrader 5 article

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