MACD Forex Renko Chart Strategy
This is another renko strategy that uses MACD. It’s simple and basic This strategy uses a box size 5-10-14. It is also applicable to any currency pairs you like.
The indicators are not so complicated. It will only use the traditional MACD, slope direction line and Renko EA.
Here are the rules:
- Enter at the blue area.
- The directional slope line must be blue after the bar closes for long and yellow for shorts.
- both line of the MACD must be going upward if you want to go LONG, and both lines must be pointing downward if you want to go short.
The risk and reward ratio for this strategy is 2:1.
Take profit at 20 pips and place stop loss at 10 pips. That is the ideal management. Trail stop can also be useful
for this system.
Forex Strategies Installation Instructions
MACD Forex Renko Chart Strategy is a combination of Metatrader 4 (MT4) indicator(s) and template.
The essence of this forex strategy is to transform the accumulated history data and trading signals.
MACD Forex Renko Chart Strategy provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust this strategy accordingly.
Forex Metatrader 4 Trading Platform:
- Free $30 To Start Trading Instantly
- No Deposit Required
- Automatically Credited To Your Account
- No Hidden Terms
How to install MACD Forex Renko Chart Strategy?
- Download MACD Forex Renko Chart Strategy.zip
- Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex strategy
- Right click on your trading chart and hover on “Template”
- Move right to select MACD Forex Renko Chart Strategy
- You will see MACD Forex Renko Chart Strategy is available on your Chart
Click here below to download: