Renko channel + Fast EMA = simple and profitable (Renko channel + Fast EMA = simple and pr)
Although there are only 2 indicators, they look so powerful!
I just use these 2 indicators Fast3MA and Renkostreet_channel
http://s11.postimg.org/wxbhw53lv/Przechwytywanie.png
Post a picture
The price channel repaints, but it doesn't matter. It is based on price action highs and lows and is redrawn if H/L breaks out. This is very powerful stuff for Renko charts. We need a bounce from the channel and react to the fast EMA.
It would be great if someone (like the very smart MathTrader7) could make an EA for this.
Simple rule = price reacts to channel highs and lows = bounces and closes below EMA (sell) or above EMA to buy (buy)
We can filter in the direction of the 200 EMA for better entry opportunities.
Place a stop loss on the last high or low of the channel and we exit when the candle closes above or below the EMA and in the opposite direction.
Saint Gral?
edit. I also uploaded the mql version of the channel - here it is not a dot but an arrow, but it is the same. Mql code for programmers only
Edit2: There are clearer rules here
http://s1.postimg.org/hf1t0ksr3/Przechwytywanie.png
Picture host
1. Wait for the channel to rebound
2. If the candle reverses and closes below the EMA, it is a sell. If the candle reverses and closes above the EMA, it indicates a buy.
3. We exit only if the candle closes above or below the EMA. Just like the example in 3post
The candles need to be turned off!
I just use these 2 indicators Fast3MA and Renkostreet_channel
http://s11.postimg.org/wxbhw53lv/Przechwytywanie.png
Post a picture
The price channel repaints, but it doesn't matter. It is based on price action highs and lows and is redrawn if H/L breaks out. This is very powerful stuff for Renko charts. We need a bounce from the channel and react to the fast EMA.
It would be great if someone (like the very smart MathTrader7) could make an EA for this.
Simple rule = price reacts to channel highs and lows = bounces and closes below EMA (sell) or above EMA to buy (buy)
We can filter in the direction of the 200 EMA for better entry opportunities.
Place a stop loss on the last high or low of the channel and we exit when the candle closes above or below the EMA and in the opposite direction.
Saint Gral?
edit. I also uploaded the mql version of the channel - here it is not a dot but an arrow, but it is the same. Mql code for programmers only
Edit2: There are clearer rules here
http://s1.postimg.org/hf1t0ksr3/Przechwytywanie.png
Picture host
1. Wait for the channel to rebound
2. If the candle reverses and closes below the EMA, it is a sell. If the candle reverses and closes above the EMA, it indicates a buy.
3. We exit only if the candle closes above or below the EMA. Just like the example in 3post
The candles need to be turned off!
























Attachment to original post (4)
📦 Summary of post attachments(74)
Below are all the files shared in the reply (74).
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •