36# Median Renko System
Median Renko Trading
Submit by Janus Trader 14/10/2016
Median Renko is the best chart for trading. Seeing is believing.
This is just my idea that is based on my experience it is not an objective fact.
The main difference between the median Renko bars and traditional Renko bars is based on the fact that the midpoint of price is used as a reversal rather than price moving ‘x’ pips from the previous closing Renko brick.
This template is to share an indicator median renko free very easy to configure.
Box Size 10.
Double Mean Renko Builder setting :
Renko Box Size 10 pips,
Box shift 45, (conservative but effective).
Renko time frame 10. Open of line M10 chart.
This indicator is very good because it does not suck much RAM !!!
Ma signal 2 ( fast MA 5, slow ma 7).
Moving Average 30 with levels (100, 200, 300, 450, 600 - -100, -200, -300, -450, -600).
To filter the moving average signals I propose three different filters:
TMA centered MACD (fast 6, Slow 12);
MACD floating level advanced ( 10, 20, 7).
The difference between the two filters is that the MACD floating level advanced is more stable.
Trading rules Median Renko System
Price close above MA 30 only buy, price close below MA 30 only sell (this conditions is optional).
Buy arrow of MA.
Price close above MA 30.
options for filter :
1) TMA centered MACD aqua line.
2) MACD floating level advanced line above red dot line
Reversal for buy when the price is below the third band.
sell arrow of MA.
Price close below MA 30.
Options for filter
1) TMA centered MACD red line.
2) MACD floating level advanced line below red dot line.
Reversal for sell when the price is abbove the third band.
Exit position options:
Fast profit target that depends by currency pair;
At the levels of MA 30;
Place initial stop on the previous swing High/Low.
These templates are only of the examples.
In the pictures Median Renko System in action.