Forex Renko Chart Swing Trading Strategy


Swing Trading Using Forex Renko Chart Strategy

This strategy is a price action based strategy that uses renko chart. Though this is intended for scalping, it can still be used for swing trading.

Renko box size 3-5 pips is used for scalping, for EU pair, use 3 pips, for GU use 3 pips, UC 3 pips, AU 2 pips and GJ 4 pips.

MT4 Indicators:

  • Moving average 3;
  • Moving average 5;
  • Heiken Ashi MA T3;
  • Dynamic Gains;
  • Forex Strategist Support and resistance;
  • Gold Miner 2;
  • Hirurgia 3.0 (optional);
  • Renko live chart indicator buil 600+;
  • Forex Entry point;
  • Dynamic bull Bear Band.

Buy Entry:

  • Forex Entry point is an aqua bar.
  • Forex Strategist Support;
  • Dynamic arrow indicates buy arrow.
  • MA 3 is greater than MA 5.
  • Gold Miner green bar.

Sell Entry:

  • Forex Entry point shows red bar.
  • Forex Strategist resistance.
  • Dynamic arrow indicates sell arrow.
  • MA 3 is less than MA 5.
  • Gold Miner red bar.

Exit Position:

  • Set an initial stop loss on the previous swing
  • Take profit depends by currency pairs and renko box.
    7-12 pips is ideal.

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Forex Renko Chart Swing Trading Strategy

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