As simple as possible: RENKO M5 trading

It's time to do my part for the FF community and provide the simplest RENKO deal I've found recently.
The title starts with "As simple as possible" out of respect for the Udine 00 trading strategy. The best portfolio/risk management advice is given in this post, plus I've also used some independent advice found in this post in Udine.

Therefore, to achieve profitable RENKO trading, you need:
1. RENKO bar on the chart (M5 period, bar range 5) (I am using s-RENKO bar EA)
2. M Candles indicator with 1H time frame (can be found in Udine’s post)
3. Daily opening indicator (can be found in Udine’s post)
4. Absolute Strength Histogram Indicator (can be found in Udine’s post)
That's it! Seems simple, right?

Let’s talk about entry signals. When you put all your indie games on a chart, you need to consider the following points ( for long entries ):
1. The price should be above the DO line
2. M candle indicator should be green
3. The absolute intensity histogram color should change from red to green and that’s it! Seems simple, right?

Let’s talk about the key points to consider before entering a trade:
1. There are no long @0.9 and short @0.1 levels
2. Spot Support/Resistance Levels on Renko Chart
3. Avoid red news time that’s it! Seems simple, right?

I use TP5 and SL10 points in this strategy. The ADR of the current trading pair is relatively high, and the spread does not exceed 1.5 points.
Example:



Finish. PDF & Happy Trading.