More simple is impossible

following this thread with keen interest

got this...waiting for jaquemate for more instructions on how he trades this

Just thought I would put up some rules I figured out a while ago but couldn't get Renko charts to keep refreshing so can't test. Maybe it will be of some help.

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.

If you're using a chart more simple is possible. Just sayin'.

So when are you entry? WHen do you sell when do you buy?

how do you trade this system

I'm new to this Renko charting but this looks like a good entry for GBPAUD, its a good level 1.8000 its just reversed first HHHL nice AB leg up so next candle colour change buystop above and hold until red candle trail stop below first red candle , job done.

This is a 10 renko chart..



Just my thoughts....

Follow trend, or even better: don't. Then buy low & sell high.

Hmmm very interesting heres the same chart as above but this time 5 renko bricks, amazing how different it looks???



CCI signals are nice though for entry...

Jaquemate what is your entry /exit strategy???

Nice thread jaquemate.
Always had a liking for renko's.
I would play them the same as I play the standard heiken Ashi charts. Bare charts. No indicators, just hand drawn trend lines & wait for the lines to be crossed & the candles to change color.

Hi Jaquemate,

Are you about??? Hope you don't mind me posting my ideas here but you've got me really interested in these renko charts... This is last one I'll post until I get ok from you to continue..

Really like the look of these renko charts and theres plenty of ways to trade them I'm sure, heres another idea, this GBPAUD could go either way, obviously so at a level like this just put a sell stop below red candles and a buystop above green candle and see which gets hit???



Took the buy signal from the 5 brick chart but used my 1 min for entry in and up 10 pips...so first attempt ok, is that a good sign???

That might be my way forward use renkos for signals and 1 mins to enter...

Anyways let me know if you're ok for me to continue to post

First trade off of renko charts working well,more luck than judgement I'm sure but is it a sign????

Hi everyone:

Apologize i cant answer all questions. Today im very busy. Sorry.

How you can see its very simple to trade like this. Really there is no so important the trigger entry.

Rules for buy: Only connect last two Bull Heicken Ashi Highs and draw trend line. then wait to a Heicken Ashi Green renko brick close above this trend line.... and buy.

Can i take all entries?.....

Its depends are your target. its depends if you are a daytrader, a swing trader, a scalper.

If you take all entries you have a lot oportunities every day in every cross and daily or weekly trend is not important. But profit are bit....
If you look at daily, weekly and monthly trend then only take entries agree main trend and let profits run.
Use the same principles you are using in your trading but eliminating all indicators and using heicken ashi and renko how very very useful tools to help you to see clearly the market movements.

Look at this daily chart. What can yo see?. I see a range inside a big daily bar.

This is a 25 pips renko chart.

Now. Its more clear. You can see the range. I see. Its beautiful.

So imple. Price go UP and go DOWN. Its obvious that big movements are controlated.

Can you see how volumen increase in renko UP bricks?.

Now the question is: How you can take advantage of this?.

Hi clive: Nice chart. I like. Im agree with you. Thanks for compliments. Apologize my english please.

The renko charts spirit i think is to take LOW RISK ENTRIES and see when.... Then let profits run. But if you are a scalper you can take bit profits every day.

With a 5 pips renko you take strike losses with an 10 pips average.

This is a daily chart. A range period.

In this scenario you can trade too.

The same period with renko charts.

Now we take the worst day. The worst range day.

Even here you can take entries.. Probably this can be a losser day, but not much if you take low low risk entries with renko bricks.

The second chart shows the way.

You can take all trades or you can take only the trades agree with the the daily-weekly-monthly trend risking only 10-15 pips per trade. Even in a range day or period you can take a good trade and this position could survive along this period.

Think about it.

Regards.

DISECTION OF A SIMPLE TRADE (For a médium-short-long term traders):

STEP 1: IDENTIFY THE MAIN TREND.