How to Make Money Trading Forex Easily with Renko MACD Mirror Trading System

Learn about forex trading with Renko Trading System. To day we learn about How to Make Money Trading Forex Easily with Renko MACD Mirror Trading System.  I chose this strategy because the tools involved in identifying trades are fairly intuitive even if you have never traded FX previously.

A Renko chart is a type of chart. developed by the Japanese, that is only concerned with price movement; time and volume are not included. It is thought to be named for the Japanese word for bricks, “renga”.

A renko chart is constructed by placing a brick in the next column once the price surpasses the top or bottom of the previous brick by a predefined amount. Green bricks are used when the direction of the trend is up, while red bricks are used when the trend is down. 

 

 

Renko candlesticks look like small bricks or boxes. We can change the box size in the Renko charts. A new box will appear on the chart, only when a special level of price change occurs. When the box size is set to a smaller setting, then new boxes come faster, but when the size is set to a higher setting, then a larger price change needed, in order to appear a new box on the chart. And now let’s go to the rules….

 

• FL11 Trend Reversal indicator below uptrend green Renko candlesticks
• Renko candlesticks uptrend and green color
• The candles above blue Bbands Stop
• ADX yellow line upward and above 25 line
• MACD Mirror red line upward above downward blue line
• MACD Mirror yellow line upward above 0 line
• Renko Signal Bars all green

 

• FL11 Trend Reversal indicator above downtrend red Renko candlesticks
• Renko candlesticks downtrend and red color
• The candles below red Bbands Stop
• ADX yellow line upward and above 25 line
• MACD Mirror red line downward below upward blue line
• MACD Mirror yellow line downward below 0 line
• Renko Signal Bars all red

 

TRADER NOTE:

It is possible to have more trade setups with Renko chart, but the problem is that in many cases we get in the market when it is too late and the price has already moved a lot. Regular candlesticks are real time, and you see everything right when they happen.

However, the advantage of the Renko chart is that if you set it to larger sizes like 1, then it eliminates a lot of noise and you will see the really strong chart patterns and setups. This is the main reason of the Renko chart invention. It was invented to eliminate the noise through ignoring the time and recording of the price changes only.