Scalping Forex Renko Chart Strategy
Scalping can be easy if accompanied by a good strategy and renko strategy can help you in trading decisions. It uses range chart bar. This is a useful strategy that works on any currency pairs. The box size of this is 5 pips or higher.
MT4 Indicators:
- Renko Scalp Signal Alert.
- Stochastic (default)
- Rules for Buy entries:
- Renko scalp signal alert must be buy.
- Stochastic crosses upward.
Rules for Sell entries:
- Renko scalp signal alert must be sell.
- Stochastic must cross downward.
Exit Position:
- Place initial stop loss on the previous swing hihg or low.
- Take profit at the first opposite signal.
Just follow the rules strictly.
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