Trading 50% Retrace | Gold EA Download - MT4/MT5 Resources
This strategy is 100% mechanical with a risk to reward ratio of 1:1.
This strategy uses the average Renko range bar - 1,000 pips (100 pips)
This strategy is so simple that even a 5 years old can follow.
Ideal Instruments should be the highly trendy ones:
Gold/USD GBP/AUD EUR/AUD
Buy/Sell Rules:
-Set pending order Buy @ 50 pips price retrace when Renko Candle Close in Bullish.
-Set pending order Sell @ 50 pips price retrace when Renko Candle Close in Bearish.
-IF a new Renko Bar is forming without reaching your pending order on the previous bar,
then adjust the pending order 50 pips higher for buy or 50 pips lower for sell.
TP:100
SL:100
100 pips Mean Renko Bars filter a lot of noise and can give you better view of the trend. No other indicators are needed.
There are many strategies that use retracement entries during trends, this strategy simplifies it in a simpler way making trend retracement trading accessible to everyone.
If you're lost in forex and have no idea where the price is going when looking at your charts and indicators then this may be for you!
If you're lost in forex then exit out right away and be happy with what you have.
If you have a strong market fundamental insights, using this strategy for entries can give better results.
PLEASE READ THIS BEFORE ASKING QUESTIONS ON HOW TO GET RENKO BARS.
Setting up a Renko chart for newbies:
1. Click File->Open Data Folder on your MT4
2. Go to MQL4 -> Experts in the data folder
3. Paste the evolutionary brick ea v1 31.ex4 in the Experts folder
4.Go back to Data Folder and this time go to Templates
5.Inside Templates paste both of the templates for M1 and M2 charts
6. Restart your MT4.
7.Open your M1 (1 Minute) Chart and scroll to the left like there's no tomorrow until it stops loading anymore bars.
8.After scrolling, use template for M1 and minimize that chart.
9.Go to File -> Open Offline Chart -> Look for the instrument with M2, open it to get your renko bars.
10. Load the M2 template on the M2 chart.
enjoy!
This strategy uses the average Renko range bar - 1,000 pips (100 pips)
This strategy is so simple that even a 5 years old can follow.
Ideal Instruments should be the highly trendy ones:
Gold/USD GBP/AUD EUR/AUD
Buy/Sell Rules:
-Set pending order Buy @ 50 pips price retrace when Renko Candle Close in Bullish.
-Set pending order Sell @ 50 pips price retrace when Renko Candle Close in Bearish.
-IF a new Renko Bar is forming without reaching your pending order on the previous bar,
then adjust the pending order 50 pips higher for buy or 50 pips lower for sell.
TP:100
SL:100
100 pips Mean Renko Bars filter a lot of noise and can give you better view of the trend. No other indicators are needed.
There are many strategies that use retracement entries during trends, this strategy simplifies it in a simpler way making trend retracement trading accessible to everyone.
If you're lost in forex then exit out right away and be happy with what you have.
If you have a strong market fundamental insights, using this strategy for entries can give better results.
PLEASE READ THIS BEFORE ASKING QUESTIONS ON HOW TO GET RENKO BARS.
Setting up a Renko chart for newbies:
1. Click File->Open Data Folder on your MT4
2. Go to MQL4 -> Experts in the data folder
3. Paste the evolutionary brick ea v1 31.ex4 in the Experts folder
4.Go back to Data Folder and this time go to Templates
5.Inside Templates paste both of the templates for M1 and M2 charts
6. Restart your MT4.
7.Open your M1 (1 Minute) Chart and scroll to the left like there's no tomorrow until it stops loading anymore bars.
8.After scrolling, use template for M1 and minimize that chart.
9.Go to File -> Open Offline Chart -> Look for the instrument with M2, open it to get your renko bars.
10. Load the M2 template on the M2 chart.
enjoy!
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