Easy Eyes Renko | Foreign Exchange EA Download - MT4/MT5 Resources
Hello everyone. Big Phil is back with a possible strategy to keep it simple. I have abandoned the heiken scalping strategy to test this strategy. My heiken scalping is working well, but judging from my backtests, there may be more to it. I'm looking for the ultimate scalping strategy to go with my regular TMS system so that I have very little screen time. Sometimes you get bored. This is a manual backtest. For some strange reason, tradingview does not allow backtesting of Renko charts. What is the key to this system?
Now a brief introduction to the psychology of the system and general trading:
The more times the price moves in one direction without retracing...the greater the chance that the price will reverse. This is the whole reason to wait for 4 or 5 consecutive candles. When you combine above and below 200 exp. This also increases the likelihood of following long-term trends. The key is to be able to enter immediately after the first candle ends. From my manual backtesting; it looks like this entry method can get you out of breakeven/small losses/profits. I'll post pictures to help with the visuals. But it's a very simple system that can help you improve your odds. I haven't traded my money on this method yet, but it looks promising. Please feel free to post negative or positive information on the system. I'm looking for a reliable scalping system to complement my TMS system.
Update: See post 16 for possible system upgrades.
Now a brief introduction to the psychology of the system and general trading:
The more times the price moves in one direction without retracing...the greater the chance that the price will reverse. This is the whole reason to wait for 4 or 5 consecutive candles. When you combine above and below 200 exp. This also increases the likelihood of following long-term trends. The key is to be able to enter immediately after the first candle ends. From my manual backtesting; it looks like this entry method can get you out of breakeven/small losses/profits. I'll post pictures to help with the visuals. But it's a very simple system that can help you improve your odds. I haven't traded my money on this method yet, but it looks promising. Please feel free to post negative or positive information on the system. I'm looking for a reliable scalping system to complement my TMS system.
Update: See post 16 for possible system upgrades.
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