How To Trade Renko Profitably | Forex Factory

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How To Trade Renko Profitably

  • #1
  • First Post: Mar 27, 2012 5:13pm Mar 27, 2012 5:13pm
I am not the owner of this thread, I am just a part of it. I intend to share my trading here but the purpose is to bring all renko traders together. I have probably read most threads on renko here and I think, based on traders' performance, and my performance, Renko trading is the way to go.

What I want is a social network of renko traders to share ideas on how to profitably trade off renko bars.

My system is pretty simple, I use a renko of 13 pips, offset set to three and wicks being displayed.
Add to that chart a 5EMA (Typical [HLC/3], shift 2). I also add stochastic 8,3,3 in the equation (close, linear weighted)

A simple MA89 may be added; Renko loves it. Here is a snapshot:

http://www.forexfactory.com/attachme...1&d=1332886005


Its rather simple to say the least, Just look for price to go above/below the yellow line (5EMA) and Stochastic to be oversold/overbought and crossing and you are good to go.

Exiting at the next reversal signal would be ideal although other methods can be employed.

I will be logging my trades here so that we can discuss renko trading and how to do it. I am not a pro and my call is 'all hands on deck' fo renko traders.

Lets start trading and discussing Renko.
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  • #2
  • Mar 27, 2012 6:54pm Mar 27, 2012 6:54pm
LOL. Look at the backtest results I got from this system!
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  • #3
  • Edited 4:14am Mar 28, 2012 3:46am | Edited 4:14am
I am long the euro against the dollar. Being an entirely technical guy ( I use renko, which basically only cares about price), my aim is to follow the price since all news are reflected there.

My target is 1.3450 and my stop is a measly 1 pip at 1.3341. ( A close below)

I can assure you that MOST systems would work if they were given to people with the discipline to follow them. Lets see if this my system will work under extreme discipline.
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  • #4
  • Mar 28, 2012 9:55pm Mar 28, 2012 9:55pm
looks clean and simple with a decent backtest (no that they mean much) why did u add the new indicator? what do u use the second purple ma?

scfx
The best indicator is price.
  • #5
  • Apr 15, 2014 9:19pm Apr 15, 2014 9:19pm
Hi Iang
Not sure if you are still around but I have just discovered Renko charts and agree with you 100%. Also I figured out that a 5ema with stochastic is a perfectly good system. Never considered the TDI...interesting.
I wrote some rules and would like to share....

Renko Rules


Down rules; After a green run up of min 3 candles and ending above the 5 ema we watch for a white candle to form above the 5 ema and see if stochastics has crossed over (taking into account angle of descent and near or above the 80 line).
Stop goes above last green candle and is moved to BE after one more white candle, (or if a green shows up cancel the trade) keep moving stop above each white candle until stopped out or stay at BE until a green candle forms on or below the 5 ema. This is the signal to go long (on the next green candle) if stochastics is in agreement.
If you get short and stopped out by the next candle being green you can re-enter if that green candle was above the 5 ema and the next candle is white above or below the 5 ema and stochastics is still crossed down-Only do this once, then have to wait for another setup.
  • #6
  • Apr 17, 2014 5:16am Apr 17, 2014 5:16am
Quoting cfudge
Hi Iang Not sure if you are still around but I have just discovered Renko charts and agree with you 100%. Also I figured out that a 5ema with stochastic is a perfectly good system. Never considered the TDI...interesting. I wrote some rules and would like to share.... Renko Rules Down rules; After a green run up of min 3 candles and ending above the 5 ema we watch for a white candle to form above the 5 ema and see if stochastics has crossed over (taking into account angle of descent and near or above the 80 line). Stop goes above last green candle...
Hey Fudge, any possibility to post a chart sample.......and yes agree with you on TDI......have you implemented that indicator yet?
  • #7
  • Edited 10:59am Apr 17, 2014 10:34am | Edited 10:59am
like it long only looser ? wtf?

renko is very nice but for free only mt4 or?
Everyday better.
  • #8
  • Edited 9:58pm Apr 17, 2014 7:02pm | Edited 9:58pm
Quoting 4xplosion
{quote} Hey Fudge, any possibility to post a chart sample.......and yes agree with you on TDI......have you implemented that indicator yet?
Hey 4xplosion, no I have not put that indicator on.
I have actually stumbled upon a young lad named Kevin, whom you can find here www.youtube.com/watch?v=wC50iLwACZI he has creadted some unique renko indicators that are quite clever. Take a look...
I was having trouble getting the Renko charts to update with Axi and Global Prime wouldn't even show the charts. So these indicators work on the live chart, which is nice.

Arlucad the rules would be reversed for buy trades...

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  • #9
  • Dec 17, 2014 11:04pm Dec 17, 2014 11:04pm
Hello Cfudge,

Good day,... may I know how many pips per renko brick you use for setting ?

Thanks,

Budi
  • #10
  • Dec 18, 2014 12:17am Dec 18, 2014 12:17am
Hey Budi

I think everyone Renko is over at thread "more simple is impossible"

Enjoy, Chris.
  • #11
  • Oct 5, 2016 9:08am Oct 5, 2016 9:08am
Does anyone know the exact rules specially with TDI indi?
Vucking good EA coder... https://t.ly/AZjRM
  • #12
  • Jan 12, 2017 8:49am Jan 12, 2017 8:49am
Quoting cfudge
{quote} Hey 4xplosion, no I have not put that indicator on. I have actually stumbled upon a young lad named Kevin, whom you can find here www.youtube.com/watch?v=wC50iLwACZI he has creadted some unique renko indicators that are quite clever. Take a look... I was having trouble getting the Renko charts to update with Axi and Global Prime wouldn't even show the charts. So these indicators work on the live chart, which is nice. Arlucad the rules would be reversed for buy trades... {image}
Hi...r u interested in this strategy and optimizing with the youtube video indis....still haven t look on it?
Greetings...R
Vucking good EA coder... https://t.ly/AZjRM
  • #13
  • May 19, 2017 3:13pm May 19, 2017 3:13pm
Quoting Iang
LOL. Look at the backtest results I got from this system! {image}
Mind sharing the the ea?
  • #14
  • Last Post: Nov 23, 2017 5:18pm Nov 23, 2017 5:18pm
No more renko traders here?
0 traders viewing now