Renko Stoch TS (Renko Stoch TS) | Foreign exchange EA download- MT4/MT5 resources
EDIT, - I don't use this STR myself
Hi everyone, I want to show a simple system using bricks and random oscillators. I actually used it on simple candlesticks on the 4 hour timeframe, but when I discovered Renko charts I switched to them and I thought it gave a more accurate signal. There is no holy grail by any means, and neither is this system, but it can be used very successfully. Please test it in the demo before getting familiar with everything, even though it is very simple to use. I actually just started using it on brick shapes, so it hasn't been tested for a long time or anything. Therefore, every opinion with a positive perspective is welcome.
EUR/USD, AUD/USD pairs (seem to give the least false signals)
Renko box 25 point moving average 50
moving average 10
Stoke 5.3.3
my rules
Trade Filters Sell only if EMA 10 is below EMA 50 Buy only if EMA 10 is below EMA 50
Enter the short position when the stochastic blue line crosses the 45 line from top to bottom. Enter the long position when the stochastic blue line crosses the 55 line from bottom to top.
Trading on the 4 hour time frame on candlesticks, I used to use SL 90 and TP 60, as you can see the risk reward was not great, but that's what I used on the 4 hour TF.
But in a Renko chart, Stop Loss and Take Profit are easily the same, both at 60 pips. You can test it yourself and see what works best for you.
Another option is to use a Multi Trade Manager EA, - move the stop loss after 30 pips of profit, lock the profit in a few pips, and use a jumping stop loss every 30 pips. Sometimes it's possible to avoid a losing trade (or not encounter a winning trade), in which case you should use a larger price target and go for a larger swing (if the price doesn't retrace too much), I think good trade management can significantly improve profitability.
On the screenshot you can see that the latest possible entries on the EUR/USD chart were only 1 loss and 11 profit. But don’t forget that this period is very popular and sends good signals, so don’t expect the same results all the time
Good luck
Hi everyone, I want to show a simple system using bricks and random oscillators. I actually used it on simple candlesticks on the 4 hour timeframe, but when I discovered Renko charts I switched to them and I thought it gave a more accurate signal. There is no holy grail by any means, and neither is this system, but it can be used very successfully. Please test it in the demo before getting familiar with everything, even though it is very simple to use. I actually just started using it on brick shapes, so it hasn't been tested for a long time or anything. Therefore, every opinion with a positive perspective is welcome.
EUR/USD, AUD/USD pairs (seem to give the least false signals)
Renko box 25 point moving average 50
moving average 10
Stoke 5.3.3
my rules
Trade Filters Sell only if EMA 10 is below EMA 50 Buy only if EMA 10 is below EMA 50
Enter the short position when the stochastic blue line crosses the 45 line from top to bottom. Enter the long position when the stochastic blue line crosses the 55 line from bottom to top.
Trading on the 4 hour time frame on candlesticks, I used to use SL 90 and TP 60, as you can see the risk reward was not great, but that's what I used on the 4 hour TF.
But in a Renko chart, Stop Loss and Take Profit are easily the same, both at 60 pips. You can test it yourself and see what works best for you.
Another option is to use a Multi Trade Manager EA, - move the stop loss after 30 pips of profit, lock the profit in a few pips, and use a jumping stop loss every 30 pips. Sometimes it's possible to avoid a losing trade (or not encounter a winning trade), in which case you should use a larger price target and go for a larger swing (if the price doesn't retrace too much), I think good trade management can significantly improve profitability.
On the screenshot you can see that the latest possible entries on the EUR/USD chart were only 1 loss and 11 profit. But don’t forget that this period is very popular and sends good signals, so don’t expect the same results all the time
Good luck
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