Renko Hedging Martingale

Hi all, i've created a new strategy with the renko charts. This strategy utilize heging because i've already made a robot (java broker, not mt4), But in manual if you have mt4, you can use stop&reverse.

The strategy is very simple. open renko chart and set it from 5 to 10 points per candle. i using 5 for my tests.

if the renko is set to 5, stoploss and take profit will be 5 or 5.5 (spread gap).

rules.


first trade must be set at the new candle (pending or market). the direction of first trade will be long if the stoploss is equal of the next renko candle. if the direction that you want have dopuble pips like in picture, do not trade in this direction.

https://s15.postimg.cc/lzrrd9by3/HEDGING.png

if the first trade go bad, open another trade where the first trade has taken the stoploss (you can set a pending stop&reverse) opposite direction at the first trade. each next trades will be opposite from the last trade.

Size martingale: 1;3;9;27;54;stop i using this martingale, but you can custom it.


another setting is:

if you not want to use this statistic (stop&reverse), check last 10 candles and memorize the direction of these. for example sbbbsbsbsb. now open at the next renko candles the opposite sequence , like bsssbsbsbs. Statistically, You have arond 1-0,5% that the opposite sequence will kill your account. in addiction, use a soft martingale max to 6-7 shots, and set ever a takeprofit > stoploss.

Pro: this strategy utilize math and statistic, not indicators. just open a renko chart and obsverve it!
cons of this strategy= the time!!

bye

Foxerr

And the robot file is not attached. Can you share the robot (java file). I can test on JForex

Hello, it’s fun to see someone using renko without indicators, this is definitely my way of trading .
one question though, What edge does the opposite sequence have over any other sequence of the same lenght ? None really. Playing martingale with renko is very risky especially when those blocks reverse on you. Better play it against the trend, less risky

Would be great to see how you do that -trading Renko without indicators.

renko charts is good for statistic and math. i suggest the second strategy, with the 10 last candles. this strategy works only in manual trading.

utilize from 5 to 10 renko pips for intraday. i testing 20 pips also, but isn't possible the daytrading.

Hey man of course im gonna give you a link of a ff thread, the guy and I do almost exactly the same, however he uses range bars but the principle is still the same, I think there is an edge to it, i could be wrong but that’s my style of trading.
a pm will follow soon.