Renko trading using proven strategy

1. An MA cross
2. MACD positive
3. The other indicator positive
4. A Halftrend arrow

https://www.forexfactory.com/attachm...l?d=1598556348 Sorry it became a link. I tried to copy the chart.

The perfect setup. And 4 very firm rules that cannot be mistaken. If I made a robot on that system, then I could go swimming or whatever and I would get all the fine trades.

I know people are tired of listning to this robot talk. And people start call me names when writing a post like this. But it is so obvious that robots can do things for you and I have to keep telling you guys.

Am I then a lazy man? I use minimum 10 hours before my charts every day and have done that for minimum 10 years. I burn for this and I am not lazy. Will I make this robot for you? No, I will tell you of the opportunity, then you guys should learn to programme EA's if you find it interesting.

Manual trading is still very fullfilling, and I do that also. It is part of the excitment of trading.

1. Higher Timeframe Analysis:
   1. Identify impulsive moves and mark the Fibonacci retracement levels.
   2. If the price is above the 50% retracement level, I trade counter-trend until it reaches this level.
   3. If the price is between the 50% and 61% levels, I look for an entry point for the next impulsive move.

2. Indicators Setup:
   1. Two Supertrend indicators.
   2. Stochastic oscillator.

Pro-Trend Position:

1. Fibonacci Zone: Price should be in the 50% to 61% Fibonacci retracement zone.
2. Stochastic Confirmation: Stochastic should touch or cross below the 20 level for a buy position or above the 80 level for a sell position.
3. Candle Confirmation: The current candle should be in the direction of the anticipated move, and the previous candle should be against it.
4. Wick Condition: The wick of the current candle must exceed the end of the previous candle.
5. Target: The target for this position is the 127% Fibonacci extension level.

Counter-Trend Position:

1. Stochastic Divergence: There must be divergence on the Stochastic oscillator, preferably visible on both the higher and lower timeframes.
2. Proximity to Round Numbers: The price should be near a round number for additional confluence.
3. Target: The initial target is the 50% Fibonacci retracement level. If the price is making a strong retracement (characterized by many consecutive candles), I close the position at the first candle that moves against the position, below the 50% level.

Example with EURUSD:

1. Smaller Timeframe: 2 pips.
2. Higher Timeframe: 4 pips.

This system leverages the simplicity of Renko charts to filter out market noise and focuses on key confluence areas to make informed trading decisions. By combining higher timeframe analysis with precise entries on lower timeframes, it aims to maximize profit while minimizing risk.
Feel free to ask any questions or provide feedback!