Hi all. I want to introduce You my idea about trading with Renko charts.
My chart looks like below
Rules are simple:
BUY
1. Renko brick close bullish above the ZWinner Color Signals indicator
2. ZWinner Color Signals is AQUA when the brick is closed
SELL
1. Renko brick close bearish below the ZWinner Color Signals indicator
2. ZWinner Color Signals is RED when the brick is closed
That's all.
Now indicators.
I'm using Mean Renko. It is 15-day trial. After that period it costs 45$.
Free trial You can download from this link http://ovo.cz/products/offline-chart...an-renko-bars/
or from attachment on the bottom of this post.
You can use original Renko but i think that it's to noisy.
Next indicator is ZWinner Color Signals
This indicator is from Kazi Noor (Inventor of Binary Alpha System). Thanx Kazi
Indicators settings
Renko Mean
Instructions how to setup this indi You'll find here
ZWinner Color Signals
----------------------------------------------------------------------------------------------------------------------------------
SL and TP
I have Renko Mean set to 200 points but You can set this differently.
I think that with 200 points SL of 50 pips will be good enough but i will count on the experienced traders who can maybe improve this.
I prefer to trail my stop for 50 pips when i'm out of my PC.
If i'm in front of the screen then my exit will be the first brick of opposite colour.
---------------------------------------------------------------------------------------------------------------------------------
I want You to test it and give Your feedback and improvements.
Green pips to all
Attachements:
My chart looks like below
Rules are simple:
BUY
1. Renko brick close bullish above the ZWinner Color Signals indicator
2. ZWinner Color Signals is AQUA when the brick is closed
SELL
1. Renko brick close bearish below the ZWinner Color Signals indicator
2. ZWinner Color Signals is RED when the brick is closed
That's all.
Now indicators.
I'm using Mean Renko. It is 15-day trial. After that period it costs 45$.
Free trial You can download from this link http://ovo.cz/products/offline-chart...an-renko-bars/
or from attachment on the bottom of this post.
You can use original Renko but i think that it's to noisy.
Next indicator is ZWinner Color Signals
This indicator is from Kazi Noor (Inventor of Binary Alpha System). Thanx Kazi
Indicators settings
Renko Mean
Instructions how to setup this indi You'll find here
Inserted Video
ZWinner Color Signals
----------------------------------------------------------------------------------------------------------------------------------
SL and TP
I have Renko Mean set to 200 points but You can set this differently.
I think that with 200 points SL of 50 pips will be good enough but i will count on the experienced traders who can maybe improve this.
I prefer to trail my stop for 50 pips when i'm out of my PC.
If i'm in front of the screen then my exit will be the first brick of opposite colour.
---------------------------------------------------------------------------------------------------------------------------------
I want You to test it and give Your feedback and improvements.
Green pips to all
Attachements:
Attached File(s)
MeanrenkoBar.ex4
311 KB
|
652 downloads
Attached File(s)
ZWinnerColorSignals.ex4
4 KB
|
1,029 downloads
Attached File(s)
RenkoMean.tpl
3 KB
|
527 downloads