For the exits we can run the attached price channel stop indy (settings 10, 0.3) on regular M1 chart parallelly (or if you want even longer on M5 use 9, 0.3). Exit when the opposite dot appears. This provides a good exit if our Renko based entry goes at least 15-20 pips in our favor and we want to stay in the trend as much as possible without reversing too much. Test it out.
Edit: Changed the recommended parms on M1 to 10, 0.3. Thanks.
Edit: Changed the recommended parms on M1 to 10, 0.3. Thanks.
Attached File(s)
PriceChannel_Stop_v1.2.mq4
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