1) Renko Chart
2) 20 Period Moving average - Simple or Expo no matter.
3) with standard settings.
Now let's see when we have to take Long or Short entry:
Long Entry Rule:
Renko Chart create a Blue Candle Which is crossing above 20 period Moving Average then take Long on closing of candle. - shape points upwards and crossing up for Long entry. Exit rule is Simple, as Renko chart form first Red candle exit trade on closing of candle.
Short Entry Rule:
Renko Chart create a Red Candle Which is crossing Below 20 period Moving Average then take Short on closing of candle. - shape points Downside and crossing down for Short entry. Exit rule is Simple, as Renko chart form first Blue candle exit trade on closing of candle.
Tanx for sharing this wonderful renko strategy.Used this system on btc/usdt n good profit was generated.Made it simple.1 minute... Renko..25 pips per box..sma 24.That's it.I have developed an auto bot linked with binance exchange.When situation arises it will trigger automatically. We are giving a 30 days free trial for you to make money n than you may opt to subscribe our service on monthly basis .Only 0.01 Btc per month. Basically for maintenance of our bot,server..etc.
Sign Up For Free
I don’t get it, tbh...
Btw, this is a good technique during an uptrend, but during a downtrend, if you buy every time a green block appears and sell when the red appears, you can go broke, because you will buy really high and sell really low. I was really interested in Renko but I’ll leave it just for comparing with Heikin Ashi and Japanese candles charts.
Thanks anyways! ;)
To prove this, use a 5 pip traditional Renko system on 1 min, 5 min, 15 min, 1 hour, 4 hour... etc. You will see the candles paint differently on each time frame.