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

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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

 

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

  1. Renko 2.0- indicator for MetaTrader 5 
  2. AdaptiveRenko- indicator for MetaTrader 5
  3. Renko EA- expert for MetaTrader 4  
  4. Renko_v2- indicator for MetaTrader 5
  5. Renko Scalper- expert for MetaTrader 4
  6. Predictor Marks for Renko, Mean Renko and Range Bars- indicator for MetaTrader 4 
  7. Renko Charts- indicator for MetaTrader 4 
  8. Renko- indicator for MetaTrader 5 
  9. Renko_v1- indicator for MetaTrader 4
  10. Renko Charts- expert for MetaTrader 4
  11. Tipu Renko Live- indicator for MetaTrader 4  
  12. Renko Live Charts v4.13- expert for MetaTrader 4
  13. Renko Chart from ticks (Most precise method)- expert for MetaTrader 4
  14. Renko Range Detector- indicator for MetaTrader 4 
  15. RenkoShade2 - Draws Renko boxes in normal TF- indicator for MetaTrader 4 
  16. Renko Indicator- indicator for MetaTrader 4

Articles

  1. Indicator for Renko charting - MetaTrader 5 article 
  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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renko does not have the timeframe hours
 
He means change the timeframe of the chart which has the renko EA attached from 4 hr back to 1 hr back to 4 hr, so you can see if the Renko chart is painting correctly.  Using it on US30 today.  So far 2 out of 3 trades won.  The loss was because my stop was too tight.
 
This strategy is not profitable. I made a quick ea and saw the results: bad.
 
Renko have catched my eye too lately.
 
@JonahHasArrived Was it successfull ? Have you traded this system for longer time ? Stop Loss when color changes ? I think you can wait for 3 bricks OR MORE + 1 reverse and it will work. Or you can make Take Profit after 2 bricks win, so it's 1:1 win / loss.
 
how do i get proper renko chart, the one i have on my system can not go beyond 2 mins and i believe its been customize by the brokers, pls help with the link to have proper renko chart and how to trade it
 
Roberto Danilo:
renko does not have the timeframe hours

so how will you trade it conveniently to avoid high volatility

 
Can someone do an ea for this? 
 
termometr12: Can someone do an ea for this? 

  1. Yes, many people know how to code.
         How To Ask Questions The Smart Way. 2004
              Only ask questions with yes/no answers if you want "yes" or "no" as the answer.

  2. You have only four choices:

    1. Search for it. Do you expect us to do your research for you?

    2. Beg at:

    3. MT4: Learn to code it.
      MT5: Begin learning to code it.
      If you don't learn MQL4/5, there is no common language for us to communicate. If we tell you what you need, you can't code it. If we give you the code, you don't know how to integrate it into your code.

    4. or pay (Freelance) someone to code it. Top of every page is the link Code Base.
                Hiring to write script - General - MQL5 programming forum 2019.08.21

    We're not going to code it for you (although it could happen if you are lucky or the problem is interesting.) We are willing to help you when you post your attempt (using CODE button) and state the nature of your problem.
              No free help 2017.04.21

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