I have been shopping for and promoting with Renko for a while now and have seen good days and unhealthy days, caught some tops and some bottoms, blown one account, survived 2 margin calls in 24 hours (yesterday) I've been cautious and been spontaneous, nevertheless I'm nonetheless hanging on.
I've gathered only a few strategies in shopping for and promoting the Renko and have not had the self-discipline to stick with one.
I am starting this thread to stipulate how I intend to commerce my favorite setup, the "LINE IN THE SAND"
That's additional like a journal and dialogue thread so be at liberty to weigh in. (Aim BS welcome)
Many due to the Dean of Renko Shopping for and promoting http://www.forexfactory.com/dee50 for displaying it's attainable and the reliable posters on http://www.forexfactory.com/showthread.php?t=513860
NUTS AND BOLTS
I benefit from the OVO Renko builder, nevertheless another Renko builder will do (you merely should refresh your charts every so often).
You'll research the fundamentals of Renko shopping for and promoting from a variety of threads on FF and from Youtube films.
I benefit from 2 charts 10pips measurement and 2.5 pips measurement.
The idea is to take Shorts beneath the 200MA and Longs above, some favour the LL LH for Shorts and reverse for Longs nevertheless, I've not found it able to defend you in the direction of whipsaws and pull backs, so I favour the Hidden divergence (HD) highlighted by MACD or TRIX.
INDICATORS
10 PIPS RENKO CHART
200LWMA (shift 2 Typical price)
3EMA (shift 2 shut price)
2.5 PIPS CHART
3200LWMA (shift 2 Typical price) That's the 10 pips Renko 200LWMA "curve fitted" into the 2.5
200LWMA (shift 2 Typical price)
3EMA (shift 2 shut price)
COMMON TO BOTH TIME FRAMES
MACD 7,30,4
MACD CROSSOVER ALERT
SwingMan UltraSuoer TRIX (Default)
ICT Asian Session.
OPTIONAL
FIB PIVOTS
SUPERJOLT DUPLICATOR (on the M1 chart)
NEWS CAL
P4L CLOCK
TARGETS
Earlier day's Extreme/Low
Asian session Extreme/Low
S&R
Delicate Targets
3200LWMA
So let's try this.
Attached Pictures (click on on to enlarge)
Attached File
RLITS.rar  80 KB | 1,322 receive