38# Renko chart 350+ pips a day
RSI for retracement trading
Submit by HS410 26/03/2017
Renko chart 350+ pips a day is a trend-momentum retracement strategy created for Renko and Median Renko Chart. This strategy is inspired at the classic RSI (3) fast and moving average (100).
Apply renko chart 350+ pips a day 4-6 charts simultaneously.
This strategy is for intraday or swing trading, It has good profitability.
Renko Box Size 5 pips or more.
Currency pairs: majors.
No repaintig alerts;
Bollinger bands stop (20:2);
RSI X2 (11, 4).
Trading Rules Renko chart 350+ pips a day
Find the currency pairs in trend and apply this template for intraday and swing trading.
RSI X2 alarm <= 30 level;
Bollinger Band Stop Blue line;
Buy alert No repaintig alerts
RSI X2 alarm >= 70 level;
Bollinger Band Stop red line;
Sell alert no repaintig alerts.
Exit position place initial stop loss below/above the bollinger bands stop.
Make profit whit determined profit target minimum ratio 1.8 stop loss.
The purpose of this strategy is to get into position after the retracement in a trend.
In the pictures Renko chart 350+ pips a day in action.