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.
Recommended MT4 Broker
XM Broker
- Free $50 To Start Trading Instantly! (Withdraw-able Profit)
- Deposit Bonus up to $5,000
- Unlimited Loyalty Program
- Award Winning Forex Broker
- Additional Exclusive Bonuses Throughout The Year
- Exclusive 50% Cash Rebates for all Trades!
Already an XM client but missing out on cashback? Open New Real Account and Enter this Partner Code: 𝟕𝐖𝟑𝐉𝐐
Click here below to download: