Forex Renko Trading Trends Strategy With Moving Average – The System is based on a Renko Chart that predicts the price micro trends with amazing probability! In our opinion this trading tool works better than all other system that we’ve tried because it uses a brand new trading algorithm and micro trends determination system! The main principle of the indicator is a custom trading indicators composite + micro trend indicator + price action false signals filter – All in one!
Renko charts are used to determine the following about a security:
- Easy identification of support and resistance lines.
- Easy identification of continuation patterns such as triangles.
- Identification of reversal patterns such as head and shoulders, triple tops, double bottoms and other classically accepted reversal patterns.
- Discovery of trends and their reversals that cannot be “seen” on a PPS chart.
- Refine our abilities to daytrade/swing a chart as to build up our accounts.
We recommended to trade following the trend. Trading against trend might you get profit but it will be higher risk.You can see “MTF-TrendBar” indicator in the TOP RIGHT corner to get recent trend info. Use trend of Time Frame H1-above.
Do not be late enter the Market. When in the closed candle both indicators formed same color, at the same time you Open Position immediately. As well as you closed your position.So you can maximize your profits.
If you see sideway market signed by flat candle movement,do not enter the market.Or if you are in the market, just exit.
- Price above green trend indicator
- Price above SMA13
- Renko Maker green
- ForexWOT Slope green above 0.8 line
- Price below red trend indicator
- Price below SMA13
- Renko Maker red
- ForexWOT Slope green below -0.8 line
We advise that you read and make sure you understand the entire system before putting it into practice. Experiment and gain experience in demo accounts before trading with your own money.