40# Renko light wins in forex trading
Renko trading in trend
Submit by Micheal 05/2017
Renko light wins in forex trading is trend following strategy designed for Renko chart, based on trend indicators.
Box size 5 pips ar higher.
Metatrader 4 Indicators
Zig Zag support and resistance (18, 5, 3).
Ultra signal indicator.
Arrow trend indicator (period 34).
MACD 2 line (12, 26, 9).
Renko live chart indicator.
Trading Rules Renko light wins in forex trading
Trade only in the direction of the trend. We have four signals of direction. To confirm an entry you must have 3 concordant signals in the same direction including the arrow.
Trend arrow buy confirmed by two other signals.
Ultra signal indicator, BKMGC1:paint bars green color, or MACD 2 line that crosses upward.
Trend arrow sell confirmed by two other signals.
Ultra signal indicator, BKMGC1:paint bars red color, or MACD 2 line that crosses downward.
Note: conservative approach can also validate a buy or sell signal if all the other signals agree in the same direction but this approach can also used for ultrascalping trading for experts.
Box size 2 pips box size super expert.
Box size 3-4 pips scalper.
Arrow trend indicator (period 53).
See example in the pictures
Renko light ultrascalping
Exit position options:
with predetermined profit target, when MACD, BKMGC1 changes direction, at the levels of support or resistance. Place initial 3 pips below/above ultra signal.
Do you want to win in forex?
Learn how to handle renko chart.