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
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