Simple Renko System - ForexFactory #253545
I want to show another simple system using Renko charts. Before I continue, I would like to thank Nanningbob and Steve Hopwood, whose indicators I am using here as part of the system.
People who don't know about Renko can google it and get more information. Basically a Renko chart is not a time based chart but uses a fixed number of points to create a bar chart.
Let me explain step by step how to create the chart shown below.
1. Open the i-minute chart of any currency pair
2 Click Tools and open the Chart tab and check all options. And enter 999999999999999999999999 on the history and maximum bar on the chart.
3. Click Expert Advisors and check all options and enter OK
4. Now go to the chart and try to get the maximum number of 1 minute bars by pressing Control and Home keys, preferably with at least 2 months of data.
5 Then attach the EA Renko chart v3.2 as shown below.
6. Then open the properties of the EA and enter 50 as the brick size
7. Click OK.
8. Then open the offline file and click on M2 and double click.
You should now have a chart with a 50-point Renko chart.
Now you enter the indicator Sixths Screen ver 3.9 Dc (all credit goes to STEVE HOPWOOD who created this indicator)
The chart should now look like this.
People who don't know about Renko can google it and get more information. Basically a Renko chart is not a time based chart but uses a fixed number of points to create a bar chart.
Let me explain step by step how to create the chart shown below.
1. Open the i-minute chart of any currency pair
2 Click Tools and open the Chart tab and check all options. And enter 999999999999999999999999 on the history and maximum bar on the chart.
3. Click Expert Advisors and check all options and enter OK
4. Now go to the chart and try to get the maximum number of 1 minute bars by pressing Control and Home keys, preferably with at least 2 months of data.
5 Then attach the EA Renko chart v3.2 as shown below.
6. Then open the properties of the EA and enter 50 as the brick size
7. Click OK.
8. Then open the offline file and click on M2 and double click.
You should now have a chart with a 50-point Renko chart.
Now you enter the indicator Sixths Screen ver 3.9 Dc (all credit goes to STEVE HOPWOOD who created this indicator)
The chart should now look like this.
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