This strategy is 100% Mechanical with a Risk Reward ratio of 1:1.
This strategy uses Mean Renko range Bars - 1,000 points (100 pips)
This strategy is soo simple that even a 5 years old can follow.
Ideal Instruments should be the highly trendy ones:
XAU/USD
GBP/AUD
EUR/AUD
Buy/Sell Rule:
-Set pending order Buy @ 50 pips price retrace when Renko Candle Close in Bullish.
-Set pending order Sell @ 50 pips price retrace when Renko Candle Close in Bearish.
-IF a new Renko Bar is forming without reaching your pending order on the previous bar,
then adjust the pending order 50 pips higher for buy or 50pips lower for sell.
TP:100
SL:100
100 pips Mean Renko Bars filter a lot of noise and can give you better view of the trend. No other indicators are needed.
There are a lot of strategies that uses retracement for entries during a trend, this strategy simplifies it in a much easier way for everyone to trade a trend retracement.
If you're lost in forex and have no idea where the price is going when looking at your charts and indicators then this may be for you!
If you're lost in forex then exit out right away and be happy with what you have.
If you have a strong market fundamental insights, using this strategy for entries can give better results.
PLEASE READ THIS BEFORE ASKING QUESTIONS ON HOW TO GET RENKO BARS.
Setting up Renko chart for Newbies:
1.On your MT4 click file ->Open Data Folder
2.Inside Data folder go to MQL4 -> Experts
3.Inside Experts folder paste the evolution renko ea v1 31.ex4
4.Go back to Data Folder and this time go to Templates
5.Inside Templates paste both of the templates for M1 and M2 charts
6.Restart your MT4.
7.Open your M1 (1 Minute) Chart and scroll to the left like there's no tomorrow until it stops loading anymore bars.
8.After scrolling, use template for M1 and minimize that chart.
9.Go to File -> Open Offline Chart -> Look for the instrument with M2, open it to get your renko bars.
10.Load M2 template on the M2 chart.
Enjoy!
This strategy uses Mean Renko range Bars - 1,000 points (100 pips)
This strategy is soo simple that even a 5 years old can follow.
Ideal Instruments should be the highly trendy ones:
XAU/USD
GBP/AUD
EUR/AUD
Buy/Sell Rule:
-Set pending order Buy @ 50 pips price retrace when Renko Candle Close in Bullish.
-Set pending order Sell @ 50 pips price retrace when Renko Candle Close in Bearish.
-IF a new Renko Bar is forming without reaching your pending order on the previous bar,
then adjust the pending order 50 pips higher for buy or 50pips lower for sell.
TP:100
SL:100
100 pips Mean Renko Bars filter a lot of noise and can give you better view of the trend. No other indicators are needed.
There are a lot of strategies that uses retracement for entries during a trend, this strategy simplifies it in a much easier way for everyone to trade a trend retracement.
If you're lost in forex then exit out right away and be happy with what you have.
If you have a strong market fundamental insights, using this strategy for entries can give better results.
PLEASE READ THIS BEFORE ASKING QUESTIONS ON HOW TO GET RENKO BARS.
Setting up Renko chart for Newbies:
1.On your MT4 click file ->Open Data Folder
2.Inside Data folder go to MQL4 -> Experts
3.Inside Experts folder paste the evolution renko ea v1 31.ex4
4.Go back to Data Folder and this time go to Templates
5.Inside Templates paste both of the templates for M1 and M2 charts
6.Restart your MT4.
7.Open your M1 (1 Minute) Chart and scroll to the left like there's no tomorrow until it stops loading anymore bars.
8.After scrolling, use template for M1 and minimize that chart.
9.Go to File -> Open Offline Chart -> Look for the instrument with M2, open it to get your renko bars.
10.Load M2 template on the M2 chart.
Enjoy!
Attached File(s)
Use this on your M1 chart.tpl
2 KB
|
1,119 downloads
Use this on your M2 chart.tpl
1 KB
|
1,055 downloads
evolution_renko_ea_v1_31.ex4
28 KB
|
1,335 downloads
Trading is not for everyone.