Best Forex Renko Street Channel Trading System – For traders looking for a trend following strategy, this is one of the best and easy trading system you should know.
This trading strategy is very objective but requires a bit of practice to identify the trade set ups.
- Best Time Frames: M30 or higher
- Recommended Currency Pairs: GBPUSD, EURUSD, USDJPY, and All Major Pairs
MetaTrader Trading Indicators
- Renko Street Channel
- Signal Trend
- RSI Histogram
- CCI
BUY Rules
- Green circle Renko Streen Channel below the previous swing low
- RSI Histogram above 0 level
- CCI line above 50 level
SELL Rules
- Red circle Renko Streen Channel above the previous swing high
- RSI Histogram below 0 level
- CCI line below -50 level
Trading NOTES
- The trading strategy is very objective but requires a bit of practice to identify the trade set ups
- Initial Stop Loss above or below the Renko Street Signals
- Risk Reward Ratio 1:2 or 1:3