Hi everyone! New to this thread, been obsessed with renko recently so thought I'd surround myself with some renko traders and learn more about it. Been trading a couple years but always price action on cadlesticks. I have been testing a simple MA cross renko strategy and found it works well on DAX. I'll post what I'm testing here in case anyone finds it helpful, since I'm sure I'll be learning a lot from this thread. Got main template from Hutch.
I went with 30 pip bricks. Super simple, basically just a 10 EMA with a 20 SMMA, sell when EMA crosses the 20 and buy when opposite. There are arrows to show and alert this cross as well. Exit strategy was annoying me so I decided to go with profit based exits. Noticed its rare for the chart to not go at least another brick after an alert, so decided a low RR could still work. I like to get in with a big lot and get out so this works for me. Please anyone let me know any input or if there are better settings. My main concern is having a bad RR meaning one loss would hurt, but it seems like a very high win rate especially when I'm risk free after just 30 or so pips.
Excited to start sharing ideas.
I went with 30 pip bricks. Super simple, basically just a 10 EMA with a 20 SMMA, sell when EMA crosses the 20 and buy when opposite. There are arrows to show and alert this cross as well. Exit strategy was annoying me so I decided to go with profit based exits. Noticed its rare for the chart to not go at least another brick after an alert, so decided a low RR could still work. I like to get in with a big lot and get out so this works for me. Please anyone let me know any input or if there are better settings. My main concern is having a bad RR meaning one loss would hurt, but it seems like a very high win rate especially when I'm risk free after just 30 or so pips.
Excited to start sharing ideas.
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