Another Renko Idea

Hi all. I want to introduce You my idea about trading with Renko charts.

My chart looks like below


Rules are simple:
BUY
1. Renko brick close bullish above the ZWinner Color Signals indicator
2. ZWinner Color Signals is AQUA when the brick is closed

SELL
1. Renko brick close bearish below the ZWinner Color Signals indicator
2. ZWinner Color Signals is RED when the brick is closed


That's all.

Now indicators.

I'm using Mean Renko. It is 15-day trial. After that period it costs 45$.
Free trial You can download from this link http://ovo.cz/products/offline-chart...an-renko-bars/
or from attachment on the bottom of this post.

You can use original Renko but i think that it's to noisy.

Next indicator is ZWinner Color Signals
This indicator is from Kazi Noor (Inventor of Binary Alpha System). Thanx Kazi

Indicators settings

Renko Mean


Instructions how to setup this indi You'll find here

ZWinner Color Signals


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SL and TP

I have Renko Mean set to 200 points but You can set this differently.

I think that with 200 points SL of 50 pips will be good enough but i will count on the experienced traders who can maybe improve this.
I prefer to trail my stop for 50 pips when i'm out of my PC.
If i'm in front of the screen then my exit will be the first brick of opposite colour.
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I want You to test it and give Your feedback and improvements.

Green pips to all

Attachements:

you're going to be a brokers dream with this, when the price is not trending.

@laksior,do the indicators repaint?

Oh, my favourite question... read about renko do they repaint... ZWinner You can easily check on m1 timeframe

Great Thanks laksior to share the Great Idea..It simply mesmerized me..Thanks a lot once again..
I need just 1 more favor in order to automate this system, Could you please add Arrows (Buy & Sell) in ZWinnerColorSignals.ex4 indicator and get placed the order in order.txt(Path:- MetaTrader 4\MQL4\Files) in ''USDJPY,buy,119.59,2015.09.29 22:30 RoboTrader'' Format.

I would be a very much grateful if you can do so..

Unfortunately i'm not a coder. Maybe You can ask someone in Platform Tech section...

Green pips mate

Looks very interesting. Been looking for some different idea's for Renko trading for some time now. Will be sure to check this out and give it a try.

Much appreciated.

If u post Zwinner in mql. file - I ll code it with arrows and try to do EA.

Initially I think Leeshindig is right. This system will lose lots of money in ranking conditions.

But have you tested it further Laksior?? I might be able to code it if it is winning. The only thing is, that I will need the formulafor the ZWinner.