How To Trade Renko Profitably
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thread: How To Trade Renko Profitably

  1. #1

    How To Trade Renko Profitably

    I am not the owner of this thread, I am just part of it. I intend to discuss my trading here however, the purpose is to attract all renko traders together. I have read most threads on renko here and I think, based on traders' performance, and my functionality trading is the way to go.

    What I want is a social network of renko traders to discuss ideas about how to profitably trade off renko bars.

    My system is really simple, I use a renko of 13 pips, cancel set to three and wicks being exhibited.
    Add to that chart a 5EMA (Typical [HLC/3], shift 2). I also add stochastic 8,3,3 in the equation (shut, linear optional)

    A simple MA89 might be inserted; Renko loves it. Here's a photo:




    Its rather simple to say the least, Only look for price to go above/below the yellow line (5EMA) and Stochastic to become oversold/overbought and crossing and you are all set.

    Exiting at the next reversal signal would be perfect though other approaches can be employed.

    I'll be logging my trades here so that we can discuss renko trading and how to do it. I am not and my call is 'all hands on deck' fo renko traders.

    Lets begin trading and discussing Renko.

  2. #2
    LOL. Have a look at the backtest results I got from this method!

  3. #3
    I'm long the euro against the dollar. Being a completely technical guy ( I use renko, which basically just cares about price), my aim is to follow along with the price because all news are represented there.

    My target is 1.3450 along with my stop would be a measly 1 pip at 1.3341. (A close below)

    I will guarantee you that MOST systems will function when they had been given to individuals with all the discipline to follow along. Lets see if this system will work under intense discipline.

  4. #4
    Junior Member servigo's Avatar
    24
    Looks clean and easy with an adequate backtest (no that they mean much) why did u include the new indior? What do I utilize the 2nd ma?

  5. #5
    Junior Member Bluuws's Avatar
    26
    Hi Iang
    Not certain if you are still about but I have just discovered Renko charts and concur with you 100%. Also I figured out that a 5ema with stochastic is a perfectly good system. Never believed the TDI. . .interesting.
    I wrote some rules and would like to share....
    Renko Rules
    Down rules; After a green streak up of minute 3 candles and ending above the 5 ema we watch for a white candle to form above the 5 ema and see if stochastics has crossed over (taking into account angle of descent and near or above the 80 line).
    Cease goes above last green candle and can be moved to BE after a more white candle, either (or if a green shows up cancel the trade) keep moving cease above each white candle till stopped outside or remain at BE till a green candle forms or below the 5 ema. This is the sign to go long (on the next green candle) if stochastics is in arrangement.
    Should you get short and stopped out by another candle being green you can reevaluate if this green candle was above the 5 ema and the next candle is white above or below the 5 ema and stochastics remains crossed down-Only do so once, then must wait for a different setup.

  6. #6
    Junior Member lurefe's Avatar
    23
    Hi Iang Not sure if you're still around but I have just discovered Renko charts and concur with you 100%. Also I figured out that a 5ema with stochastic is a method that was perfectly good. Never believed that the TDI. . .interesting. I wrote some principles and would love to share.... Renko Rules Down principles; Following a green streak up of minute 3 candles and ending above the 5 ema we watch for a white candle to form over the 5 ema and determine whether stochastics has crossed over (taking into account angle of descent and near or over the 80 line). Cease goes over green candle...
    Hey Fudge, any option to post a chart sample....and yes concur with you on TDI....have you implemented that indior yet?

  7. #7
    Like it long just looser ? wtf?

    Renko is very nice but for free just mt4 or?

  8. #8
    Junior Member Bluuws's Avatar
    26
    quote Hey Fudge, any possibility to post a chart sample....and yes agree with you on TDI....have you implemented this indior nonetheless?
    Hey 4xplosion, no I have not put that indior on.
    I have actually stumbled upon a young lad named Kevin, whom you can find here he's creadted some exceptional renko indiors which are rather smart. Take a look...
    I was having trouble getting the Renko charts to upgrade with Axi and International Prime wouldn't even demone the charts. So these indiors operate on the chart, which can be fine.

    Arlucad the rules would be reversed for buy trades...


  9. #9
    Junior Member 77almeray's Avatar
    22
    Hello Cfudge,

    Great day,... may I know how many pips per renko brick that you use for setting ?

    Thanks,

    Budi

  10. #10
    Junior Member Bluuws's Avatar
    26
    Hey Budi

    I think everyone Renko is Finished at thread more simple is Hopeless

    Enjoy, Chris.

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