Last updated:
MACD Forex Renko Chart Strategy
This is another renko strategy that uses MACD. It’s simple and basic This strategy uses a box size 5-10-14. It is also applicable to any currency pairs you like.
The indicators are not so complicated. It will only use the traditional MACD, slope direction line and Renko EA.
Here are the rules:
- Enter at the blue area.
- The directional slope line must be blue after the bar closes for long and yellow for shorts.
- both line of the MACD must be going upward if you want to go LONG, and both lines must be pointing downward if you want to go short.
The risk and reward ratio for this strategy is 2:1.
Take profit at 20 pips and place stop loss at 10 pips. That is the ideal management. Trail stop can also be useful
for this system.
Level up your trading
Learn to read the chart — not just the indicator
eBook · Instant PDF
Video Course · 12 modules
Recommended MT4/MT5 Brokers
- ✓ *FREE *$50 to start (withdrawable)
- ✓ Deposit bonus up to $5,000
- ✓ Negative balance protection
Trading forex and CFDs carries a significant risk of loss and is not suitable for everyone. Broker links are affiliate links — we may earn a commission at no cost to you.
Forex Strategy Download:
Enter Your Email Address below, download link will be sent to you.