Disliked45FXguy,
I love your template for 50pip renko sytem. I have been trading 50 pips renko for last few days. I seem to either get out soon or make late entry.
Your tmplate looks great.
Can you please explain which arrow is the main indicator that you use to initiate the trade and which one you use to exit.
Looks like you also have arrows that shows adding to the trade.
Can you Please explain which arrows corresponds to which action?( There are many arrows)
Thanks for your help.
KrisIgnored
I haven't been doing a lot of manual trading in the last couple of months, mostly just testing eas, but from what I've seen of the setup so far on 50 pip renko range bars is that the king trend signal is probably the most solid entry signal, the ma Cross could be for a confirmation or re-entry signal, and the KG looks to be a pretty good/early exit signal.
As far as I know none of these arrows repaint but I will double check this in the simulator today on 5 or 15 candles sticks charts.
If your using the setup on regular renko charts your stop loss may have to be almost triple your brick sizes to avoid getting your stops hit on wick back lashes. I think SL for the renko range bars, not regular renko, of 100 pips maybe okay with a 100 pip trailing stop, could help ride a longer trend if you catch the ride at the right time. I didn't test the setup Friday, I was trying my no indi buy/sell stop s/r of renko range bars which I previously posted, but all but one of those trades hit break even pips so I'm thinking of taking a more no indi approach for trading renko charts at this time, and this maybe the next best thing to finding a safe ea that can fully auto trade renko charts.
Then it should just be a matter of finding a good ea to manage the trades already opened by the buy/sell stop hits.