With many years of research using this system, we have now brought Renko Street Moving Averages Trading Strategy to a new level of excellence. Here is tutorial How to Install, Creating, and Setting Forex Renko Chart.
Before you continue this guide, you have to had installed Renko Chart. In this version, you don’t need to watch and wait in front of your chart to get 3 indicators confirmed.You will get alert immediatelly every these 3 indicators have the same signal and confirmed each other.
- Enter trade BUY when you get alert “ BUY ”. (RenkoStreet STF=lime, RenkoStreet_Channel=lime, RenkoStreet_Trend=lime)
- Renko Chart above yellow upward RenkoStreet MMA
- RenkoStreet RSIOMA upward
Take profit on the horizontal line above your position. Or 10-15 pips before the horizontal line above your position. Stop Loss on the Horizontal Line below your posistion.
- Enter trade SELL when you get alert “ SELL “.(RenkoStreet STF=red, RenkoStreet_Channel=red, RenkoStreet_Trend=red)
- Renko Chart below yellow downward RenkoStreet MMA
- RenkoStreet RSIOMA downward
Take Profit on the horizontal line below your position.Or 10-15 pips before the horizontal line below your position. Stop loss on the horizontal line above your position.
I recommend you to trade following a trend, against the trend will make you very risky trade. You get alert does not mean that you have to open your position. Always look at the current trend. Simply, zoom out your chart and you will see the current trend. Also try to combine with overbought/oversold area, chart patterns, fibo lines,candle pattern D1 or H4. As I said before that you have to be 100% confident in that what you are doing. This is the only way that leads to succses! Whatever system you use to trade.