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Adaptive Band Forex Renko Chart Strategy
This is another renko system that is based on reversal and the TMA bands. Use box size 6 pips or more, but it would be best if you use 10 pips box size. This system is applicable to any currency pairs. It also works on indices such as S&P 500 and Dow Jones.
Forex Indicators:
- FastTMAline (ATR 0.01);
- FastTMAline (ATR 3.5);
- FastTMAline (ATR 4.2);
- FastTMAline (ATR 4.9);
- Heiken Ashi 3;
- Fisher (period 15)
- Repulse 2
- EA Renko live chart 3.2
Buy Entry:
- Price must touch or bounce lower bands.
- Heiken Ashi must be green.
- Fischer blue bar.
- Repulse indicators (hook up).
- Take profit at the middle band and set stop loss at 10-15 pips below the upper band.
Sell Entry:
- Price must touch or bounce upper bands.
- Heiken Ashi must be red.
- Fischer red bar;
- Repulse indicator (Hook down).
- Take profit at the middle band and set stop loss at 10-15 pips below the upper band.
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