BMANS Forex Renko Chart Strategy
This strategy combines all the system that is why it is effective. It works on EURUSD chart and lower timeframe is better for this strategy.
Forex Indicators:
- CCI 30
- RSI 50
- ASI 300
- Nonlag MA
- Renko bars
- EMA 89 and TRO Dragon Tunnel
Buy Entry:
- CCI must be above the yellow ASI.
- Nonlag MA turns green and is above dragon tunnel.
Note: Stronger buying opportunity if CCI is above both ASI and RSI.
Sell Entry:
- CCI must be below the ASI.
- Nonlag MA must be red and is below dragon tunnel.
Note: Stronger Selling opportunity if CCi is below both ASI and RSI.
Exit Positions:
- Exit position when Nonlag MA turns the opposite color. It must turns red if you have long position and it must turn green if you are in short position.
Make sure to use stop loss to protect the capital. You can also do trail stops.
A fibonacci is also helpful in making exit decisions.
The EMA is the trend Identifier.
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