Renko Chart with auto trendline and S&R | Forex Factory

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Attachments: Renko Chart with auto trendline and S&R
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Renko Chart with auto trendline and S&R

  • #1
  • First Post: Edited Sep 15, 2019 10:16pm Sep 13, 2019 5:07pm | Edited Sep 15, 2019 10:16pm
Hi ,

I am using renko chart instead of candlestick. It's a very simple trading strategy based on S&R and trendline. Since everyone see the charts differently, i let the chart to be as naked as possible. If you prefer you can add on extra trendline manually or auto. Eg. below...or any other indicators.

Attached Image (click to enlarge)
Click to Enlarge Name: 2019-09-13_22-18-34 eu.png Size: 33 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 2019-09-14_5-32-24 eU.png Size: 62 KB


Notes on installation:
...and follow all the step in the RMP until the template part. Instead of using rmp template, use renkoAshi 3. You might need to delete and repeat the set up 2 or 3 times if the m2 offline chart doesn't show. That's it. Enjoy.

Let's discussed any pairs here using this set up here. Use it however you like. Have a great weekend.

Attached File(s)
File Type: rar vl set up.rar   596 KB | 953 downloads


Noted: Updated chart can be downloaded at post #26

Refer picture below.
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-09-16_11-11-43 update.png Size: 52 KB
  • #2
  • Sep 13, 2019 5:19pm Sep 13, 2019 5:19pm
I jst started playing around with the renko yesterday funny enough, how where you trading this so far and which pairs and brick sizes?
"Cut your loses short and let the winners Run"
  • #3
  • Sep 13, 2019 5:49pm Sep 13, 2019 5:49pm
Ok only. Used to have a complicated set up. Refer picture below. Hope it can be better as now less contradict signals. Brick size is 10 pips. Less noise.

Attached Image (click to enlarge)
Click to Enlarge Name: 2019-09-11_11-36-45 au.png Size: 130 KB
  • #4
  • Sep 14, 2019 12:04am Sep 14, 2019 12:04am
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-09-14_12-55-11 AU.png Size: 45 KB


AU, wonder which side will it take:
a) continue to go up if it stay above the red trendline or
b) get corrected?
c) having some break before continuation?

Welcome to comments, Thank you.
  • #5
  • Sep 14, 2019 1:00am Sep 14, 2019 1:00am
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-09-14_13-56-27 EU.png Size: 42 KB


EU, from the current price action, EU is more likely to go down. Price broke the red trendline and also below the green trendline. The next round number is at 1.10000
  • #6
  • Sep 14, 2019 1:38am Sep 14, 2019 1:38am
Quoting Pips88
Ok only. Used to have a complicated set up. Refer picture below. Hope it can be better as now less contradict signals. Brick size is 10 pips. Less noise. {image}
the famous fibo golden zone lol i remember tht road
"Cut your loses short and let the winners Run"
  • #7
  • Sep 14, 2019 1:40am Sep 14, 2019 1:40am
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-09-14_14-34-13 gu.png Size: 43 KB


GU continue the uptrend after a break recently. Will it continue to climb up till the next resistance around 1.2540 - 1.2570

Refer chart below..
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-09-14_14-39-26 gu.png Size: 44 KB
  • #8
  • Sep 14, 2019 1:42am Sep 14, 2019 1:42am
Quoting Pips88
{image} AU, wonder which side will it take: a) continue to go up if it stay above the red trendline or b) get corrected? c) having some break before continuation? Welcome to comments, Thank you.
a more conservative way is to wait for a break either way, then reduce brick size to 3-5 and wait for a retest then pull the trigger afterwards targeting the nearest S/R levels or desired pips. whilst SL is under the trendline
"Cut your loses short and let the winners Run"
  • #9
  • Sep 14, 2019 1:54am Sep 14, 2019 1:54am
Thanks Meck for your value opinion. Really appreciate it. Hope you can share your knowledge more here. Brick size reduce to 3-5 pips. Great idea,
  • #10
  • Sep 14, 2019 2:09am Sep 14, 2019 2:09am
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-09-14_15-07-14 eg.png Size: 45 KB


EG continue downtrend and even broke the previous low of July 25. Wonder how low it will go before the phase of accumulation begin?
  • #11
  • Sep 14, 2019 2:10am Sep 14, 2019 2:10am
Quoting Pips88
Thanks Meck for your value opinion. Really appreciate it. Hope you can share your knowledge more here. Brick size reduce to 3-5 pips. Great idea,
will do, im currently working on making a better method to target pullbacks in a trend using renko but will learning alot from you here aswell.
"Cut your loses short and let the winners Run"
  • #12
  • Sep 14, 2019 2:21am Sep 14, 2019 2:21am
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-09-14_15-18-35 uc.png Size: 39 KB


UC just broke free from the short break. Seems like it will head to the next resistance soon around @1.33725
  • #13
  • Sep 14, 2019 2:35am Sep 14, 2019 2:35am
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-09-14_15-29-59 uj.png Size: 54 KB


For UJ, i am using a method called fan out the trendline. Buyers momentum is lower now. And the resistance green zone just appeared. Even the HH is lower than the previous HH. I would say that UJ is now in the beginning phase of distributions. Looking for a SELL opportunity.
  • #14
  • Sep 14, 2019 2:52am Sep 14, 2019 2:52am
Attached Image (click to enlarge)
Click to Enlarge Name: ff1.JPG Size: 21 KB



We got this on GbpNzd (brick size 5). Added ema crossover 2,4 which are the arrows to give alerts and also as a possible exit.


Attached Image (click to enlarge)
Click to Enlarge Name: ff.JPG Size: 120 KB
"Cut your loses short and let the winners Run"
  • #15
  • Sep 14, 2019 3:11am Sep 14, 2019 3:11am
Quoting Pips88
{image} For UJ, i am using a method called fan out the trendline. Buyers momentum is lower now. And the resistance green zone just appeared. Even the HH is lower than the previous HH. I would say that UJ is now in the beginning phase of distributions. Looking for a SELL opportunity.
This is pretty good analysis
"Cut your loses short and let the winners Run"
  • #16
  • Sep 14, 2019 3:16am Sep 14, 2019 3:16am
Meck, I like your modification chart more than mine now. Let's flood this post with pairs analyst using this system. Hope to see more improvement and fine tuning to it.

Notes: If possible share the adds on indicators to the post you share so that everyone can benefits from it. Let's kill the market makers.
  • #17
  • Sep 14, 2019 3:56am Sep 14, 2019 3:56am
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-09-14_16-49-43 UF.png Size: 56 KB


UF, Just like UJ, UF distribution phase is more established. The next HL will give more clarity to it. Watch out for SELL opportunities.
  • #18
  • Sep 14, 2019 4:05am Sep 14, 2019 4:05am
Quoting Pips88
Meck, I like your modification chart more than mine now. Let's flood this post with pairs analyst using this system. Hope to see more improvement and fine tuning to it. Notes: If possible share the adds on indicators to the post you share so that everyone can benefits from it. Let's kill the market makers.
lol ddnt add much its still the stuff you posted including this.
Attached File(s)
File Type: ex4 EMA Crossover Signal.ex4   11 KB | 444 downloads
Attached File(s)
File Type: mq4 EMA Crossover Signal.mq4   4 KB | 400 downloads
Attached File(s)
File Type: ex4 SupDem.ex4   21 KB | 493 downloads
Attached File(s)
File Type: mq4 SupDem.mq4   11 KB | 550 downloads



As for analysis just keeping an eye on Gold

Attached Image
Attached Image (click to enlarge)
Click to Enlarge Name: ff4.JPG Size: 79 KB
"Cut your loses short and let the winners Run"
  • #19
  • Sep 14, 2019 4:51am Sep 14, 2019 4:51am
My last pair analyst is on NU. They say AU and Nu correlate positively. NU moves faster than AU. Anyway how deep is this pullback?

Attached Image (click to enlarge)
Click to Enlarge Name: 2019-09-14_17-37-05 nu.png Size: 47 KB


AU chart below.

Attached Image (click to enlarge)
Click to Enlarge Name: 2019-09-14_12-55-11 AU.png Size: 47 KB


I only trade within the 9 pairs above, Thanks again MECK for the gold and GN analyst. That's all my analyst for today. Lets see how well it play out next week. Those who like to contributes, PLEASE!! Your valuable opinions and knowledge is much appreciated here. See ya.
  • #20
  • Sep 14, 2019 7:34pm Sep 14, 2019 7:34pm
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-09-15_8-31-49 meck.png Size: 271 KB


Hi Meck, Care to share the indicator you use that show the price beside the resistance zone?

Thank you.
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