This is the first of my RENKO strategies and studies series. I'm developing some studies on Renko charts from a while and now is time to share the results.
This startegy is based on this idea: to measure the "vigor" or strength of a price action and to follow it. I use Renko charts to identify the price action. The indicator will rise or fall when a price action starts and it is flat at half of this movement. Time frame should be 1 minute but I would need a premium account to have RENKO charts with one minute. The most important point for this strategy is to set the correct brick size for each symbol. Look in the result how you could obtain starting with a 1000€ account in just few months.
I have also a study with alerts so one could use autoview for automated trading. If you are interested to use it, follow me and add a comment.
Please use comment section for any feedback.
********************************** IMPORTANT******************************* I have developed an expert advisor for metatrader4 (MT4) and for jforex platform: results of expert advisor form 2015-01-01 to 2018-11-25 are very good with low drawdown and good profit. ********************************************************************************
Hey, Finally i got the strategy on renko, but i'm not in forex. Can you help me your strategy for asian market. How to calculate brick size for a symbol.
Also, if you can share code with alerts. it will be great.
RafaelZioni
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very nice indicator ,mine is based on volume with take profit and stop loss ,the code is free. so maybe you can make it better? it work on normal candles for every time frame with no repaint , here I put as renko
TheCuriousCat
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Any chance you could share the source code with the community?
Tibetf
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Great work...
kumar532
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how i aces this technique in forex pairs
mattrad88
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Thank you .
samieru
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Hi thank you for your great indicator. I want to use it for FOREX pairs. Please let me know the settings of RENKO. You detailed the indicator should be used on 1M RENKO but we can see ‘D’ and ‘traditional 7’ in your attached pic So I was confused a little. If you can please explain about chart setting. Thanks again.
03.freeman
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@samieru, yes I used on Daily time frames because RENKO 1M chart is for pro-users only. Traditional candles and 7 pips are good setting for this pair. Each pair has its own best setting.
Also, if you can share code with alerts. it will be great.