DsForexPro

A 90% Winning Strategy - Simple but effective

FX:EURUSD   Fx Euro/Dolar U.S
47099 84 59
Guys ! we all know about Renko Charts, you can use this strategy which is really basic, simple but very very effective. For making good profit it's not that you need loaded Indicators and systems, sometimes a very basic system turns to be effective. Here i am discussing a system which always works. Clear entry and exit rules, you can use this system for scalping on 5 minutes to 15 Minutes charts as well but i suggest go with 1Hr chart for maximum profit.
Requirements
1) Renko Chart
2) 20 Period Moving average - Simple or Expo no matter.
3) MACD with standard settings.

Now let's see when we have to take Long or Short entry:

Long Entry Rule:
Renko Chart create a Blue Candle Which is crossing above 20 period Moving Average then take Long on closing of candle. - EMA shape points upwards and MACD crossing up for Long entry. Exit rule is Simple, as Renko chart form first Red candle exit trade on closing of candle.

Short Entry Rule:
Renko Chart create a Red Candle Which is crossing Below 20 period Moving Average then take Short on closing of candle. - EMA shape points Downside and MACD crossing down for Short entry. Exit rule is Simple, as Renko chart form first Blue candle exit trade on closing of candle.
It is probably repainting 1 hour. You are using 1 hour renko. Which means in real life you will get the signals you see on chart, 1 hour late. In your dreams, it will provide % 90 success. Try trading in real life do forward trading, you will probably loose money.
+1 Balas
@lonyn, Renko is not time dependent. It is drawn in the same way of any timeframe. Please read what is Renko!
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mortdiggiddy LyubomirKolev
@LyubomirKolev, false. The renko candles in trading view are not RANGE CANDLES. They require a successful close (1 hour close) above or below the next threshold to paint new renko bricks. If they were range candles, the moment the next level is penetrated the next brick would paint.

To prove this, use a 5 pip traditional Renko system on 1 min, 5 min, 15 min, 1 hour, 4 hour... etc. You will see the candles paint differently on each time frame.
+2 Balas
How do you set block size in Trading View? I dont see an option for it on settings just ATR length.
+23 Balas
ali732142 frenchcottage
@frenchcottage, hi how are you? this strategy work? or not? thanks from italy :)
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Hello,
How and WHERE Can i test renko EA ? mt4 platform ?
Thank you !
+3 Balas
ali732142 testowy2016
@testowy2016, hi how are you? this strategy work? or not? thanks from italy
+3 Balas
ali732142 testowy2016
@testowy2016, hi how are you? this strategy work? or not? thanks from italy
+1 Balas
joseph nemeth style?
+3 Balas
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