Renko Easy Patterns | Forex Factory

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Renko Easy Patterns

  • #1
  • First Post: Edited Jul 3, 2020 4:03am Sep 25, 2019 4:29am | Edited Jul 3, 2020 4:03am
I must have forgotten the allure of Renko trading which was the ease of finding easy winning patterns.
I had abandoned trading with Renko for a long time but found my way back and I found patterns that repeat themselves each and every day on different brick sizes, the higher the brick size, the more reliable the pattern.

The only patterns I've not tried out are harmonic patterns but other patterns occur frequently, but I'd like to highlight the following.
#1 Engulfing pin bar
#2 Double tops and bottoms
#3 Range Breakout/Breakdown
#4 Hidden Divergence
#5 Regular Divergence

If you could scan all the major pairs with varying brick sizes you could find several set ups to trade.
Example of #1
Attached Image (click to enlarge)
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Let it turn and find your entry.
  • #2
  • Sep 25, 2019 4:30am Sep 25, 2019 4:30am
A picture is worth a thousand words.
Attached Image (click to enlarge)
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Let it turn and find your entry.
  • #3
  • Sep 25, 2019 4:37am Sep 25, 2019 4:37am
So for the Engulfing Pin Bar, we need to have trend direction and bias right, me I prefer the HMA or SDL, I'm yet to try out the JMA.

Using the Median Renko gives quicker entries and multiplies the occurrences of the patterns.
Attached Image (click to enlarge)
Click to Enlarge Name: RENKO PATTERNS 02.png Size: 144 KB
Let it turn and find your entry.
  • #4
  • Sep 25, 2019 4:56am Sep 25, 2019 4:56am
Some patterns occurred on my pair of interest EURGBP.
Attached Image (click to enlarge)
Click to Enlarge Name: RENKO PATTERNS 05.png Size: 151 KB
Let it turn and find your entry.
  • #5
  • Sep 25, 2019 4:59am Sep 25, 2019 4:59am
How I actually fared.
Attached Image (click to enlarge)
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So I'd have to wait till my next trial period comes on and if the repainting is not disastrous, I'd purchase the OVO Median Renko.
Let it turn and find your entry.
  • #6
  • Sep 25, 2019 5:23am Sep 25, 2019 5:23am
I believe RENKO is the best there is. Undervalued by traders.

Easy math and shows good & clear patterns indeed.
It's better to be out wishing to be in... than to be in wishing to be out!
  • #7
  • Edited 6:22am Sep 25, 2019 5:24am | Edited 6:22am
However the bigger picture is sweeter.
Attached Image (click to enlarge)
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No doubt I need to concentrate on 5 pips Bricks and above.
Let it turn and find your entry.
  • #8
  • Sep 25, 2019 6:22am Sep 25, 2019 6:22am
Remember to follow the filter.
Attached Image (click to enlarge)
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Let it turn and find your entry.
  • #9
  • Sep 26, 2019 5:16am Sep 26, 2019 5:16am
Quoting Dutchy Daxy
I believe RENKO is the best there is. Undervalued by traders. Easy math and shows good & clear patterns indeed.

Could you talk about the "Easy math" part, that's not clear to me. Thanks!
Let it turn and find your entry.
  • #10
  • Sep 30, 2019 9:33am Sep 30, 2019 9:33am
I am amazed how simple indicators like the MACD can give unambiguous signals.
Attached Image (click to enlarge)
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I think the approach is find the signal in 5 pips brick and enter on a clear 2.5 brick set up.
Attached Image (click to enlarge)
Click to Enlarge Name: RENKO PATTERNS 19.png Size: 259 KB
Let it turn and find your entry.
  • #11
  • Oct 2, 2019 1:55am Oct 2, 2019 1:55am
Patterns Patterns everywhere.

Attached Image (click to enlarge)
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Just to find that entry in the lower brick charts.
Let it turn and find your entry.
  • #12
  • Oct 2, 2019 8:55am Oct 2, 2019 8:55am
The patterns keep coming.
Attached Image (click to enlarge)
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Let it turn and find your entry.
  • #13
  • Dec 27, 2019 6:37pm Dec 27, 2019 6:37pm
One tip on the chart that the price wants to change sides is the shadows look at the shadows like a reverse hammer or something.
  • #14
  • Dec 28, 2019 3:06pm Dec 28, 2019 3:06pm
Quoting Intrepidpips
How I actually fared. {image} So I'd have to wait till my next trial period comes on and if the repainting is not disastrous, I'd purchase the OVO Median Renko.
Although I could be wrong I think the brick had not completely formed when you enter into the trade as it often occur.
  • #15
  • Dec 31, 2019 9:47am Dec 31, 2019 9:47am
Quoting Hutch
{quote} Although I could be wrong I think the brick had not completely formed when you enter into the trade as it often occur.
The bar had closed in RED so I pulled the trigger and went short, I actually have a range predictor that shows where the next bar will close Bullish or Bearish, once that price is attained the range predictor moves and I enter if all other criteria are met so I don't enter in mid bar. Price turned after I entered and the bar changed colour that was a complete change of the quotes/feed.
Let it turn and find your entry.
  • #16
  • Dec 31, 2019 1:12pm Dec 31, 2019 1:12pm
As the year winds up, I'm looking at the charts again and I see that the patterns repeat themselves on a daily basis, the higher the brick size, the fewer the occurrences but the more reliable the patterns.
Attached Image(s) (click to enlarge)
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Let it turn and find your entry.
  • #17
  • Dec 31, 2019 1:21pm Dec 31, 2019 1:21pm
Quoting Intrepidpips
{quote} The bar had closed in RED so I pulled the trigger and went short, I actually have a range predictor that shows where the next bar will close Bullish or Bearish, once that price is attained the range predictor moves and I enter if all other criteria are met so I don't enter in mid bar. Price turned after I entered and the bar changed colour that was a complete change of the quotes/feed.
Wow I never seen that. Something must have gone wrong with the Renko generator.
  • #18
  • Dec 31, 2019 1:33pm Dec 31, 2019 1:33pm
The lower bricks present more of the patterns so you need to have confidence in your filters and then suck up the occasional losses.
Attached Image(s) (click to enlarge)
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Let it turn and find your entry.
  • #19
  • Dec 31, 2019 1:34pm Dec 31, 2019 1:34pm
Quoting Hutch
{quote} Wow I never seen that. Something must have gone wrong with the Renko generator.

There's a disclaimer on the EA to use at your own risk
Let it turn and find your entry.
  • #20
  • Dec 31, 2019 1:45pm Dec 31, 2019 1:45pm
I was putting this template together and I decided to take a nibble at it, with just one oscillator, looks like the signals are reliable enough.
Attached Image (click to enlarge)
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Let it turn and find your entry.
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