Channel Forex Renko Chart Strategy

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Channel Forex Renko Chart Strategy

This is another renko system that is a trend following system with price channel lines. The renko box size to be used is 5-10 pips. This system is applicable to
major pairs.

Forex Indicators:

  • Ded,
  • Fast TMA Lines,
  • Heiken Ashi,
  • KG Renko Range Bars,
  • Offset renko,
  • Support and resistance Barry,
  • Timing indicator,
  • Extreme channel,
  • MA 50,
  • MA 100.
  • EA Renko: B625Renko

Buy Entry:

  • Market must be an uptrend.
  • Price must hit the lower bands.
  • Heiken Ashi is blue.
  • MA 50 is above the slow MA 100
  • The timing indicator must be below 30 and crosses upward.

Sell Entry:

  • Market must be a downtrend.
  • Heiken Ashi is red.
  • Price must hit the upper bands.
  • MA 50 is under the slow MA 100.
  • The timing indicator is above 70 and crosses downward.

Exit Position:

  • Stop loss must be placed outside the signal bar, upper or lower band.
  • It can also be placed at the support and resistance.
  • Take profit at the middle band.

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