- July 7, 2018
- Posted by: Forex Wiki Team
- Category: Forex Trading System
Hey all, i've created a model new method with the renko charts. This method benefit from heging because of i've already made a robotic (java seller, not mt4), Nonetheless in handbook in case you've gotten mt4, it is best to use stop&reverse.
The method might be very straightforward. open renko chart and set it from 5 to 10 components per candle. i using 5 for my exams.
if the renko is about to 5, stoploss and take income will doubtless be 5 or 5.5 (unfold gap).
pointers.
first commerce must be set on the brand new candle (pending or market). the trail of first commerce will doubtless be prolonged if the stoploss is equal of the next renko candle. if the trail that you just really need have dopuble pips like in picture, do not commerce on this path.
if the first commerce go unhealthy, open one different commerce the place the first commerce has taken the stoploss (you probably can set a pending stop&reverse) incorrect means on the primary commerce. each subsequent trades will doubtless be reverse from the ultimate commerce.
Dimension martingale: 1;3;9;27;54;stop i using this martingale, nonetheless you probably can personalized it.
one different setting is:
within the occasion you not want to use this statistic (stop&reverse), check remaining 10 candles and memorize the trail of these. as an example sbbbsbsbsb. now open on the following renko candles the opposite sequence , like bsssbsbsbs. Statistically, You might have arond 1-0,5% that the opposite sequence will kill your account. in behavior, use a clean martingale max to 6-7 pictures, and set ever a takeprofit > stoploss.
Skilled: this method benefit from math and statistic, not indicators. merely open a renko chart and obsverve it!
cons of this method= the time!!
bye
