123 strategy using renko chart
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    123 strategy using renko chart

    I just found this strategy from internet a few days ago and i want to test it. In this thread i will show you how this strategy works.
    I'm using renko chart, if you dont know about renko chart and how to instal it, then you must googling to know about it.
    Point 1 : This is the bottom
    Point 2 : This is correction
    Point 3 : This is retest, but not go beyond point 1
    Place order buy in the breakout of the number 2 point on the pattern, or we can buy a few pips before breakout.
    This is my first order on EUR/USD
    KOKPPOs.jpg
    I already got more than 20 pips, then i moved my stop loss on SL+1 pip

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    This trading strategy is being popular day in day out, i first heard about the renko in the 2006, i did not no put much interest then, but this chart explanation and representation on the renko is unique if i must say. But my question is that, in the moving of the stop loss 1 pips towards the side of the take profits, what if the market moves in a whipsaw towards the side that you are still losing in the market, i am saying this if the trader choose to use a higher spread instruments for this renko trading strategy?

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    Nowadays i have seen many many people trading on renko charts and making thousand of dollars everyday and this is really good.
    I would like to ask one question from your pic . WHat time frame is it? Is it 2min or what? and what is the size of the renko bar ? 5 pips , 10 pips or more?
    Thank you in advance :)

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    I ever tried renko chart because looks like a wave technique. I have used various from 3 weeks to see the advantages and disadvantages of renko chart. But I need additional information such as pattern trend or pattern candle to see accurately. In my opinion renko chart is good but had to use the trend to more clearly.

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    i always used renco if situation market sideways for scalp and get profit 30-150 pips for five digits..sometimes renco gift you false signal and sometimes gift good signal ...i always discipline this system and used money management for my psycology and will you have survive in the forex jungle

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    Quote Originally Posted by cozard007 View Post
    This trading strategy is being popular day in day out, i first heard about the renko in the 2006, i did not no put much interest then, but this chart explanation and representation on the renko is unique if i must say. But my question is that, in the moving of the stop loss 1 pips towards the side of the take profits, what if the market moves in a whipsaw towards the side that you are still losing in the market, i am saying this if the trader choose to use a higher spread instruments for this renko trading strategy?
    If we move our stop loss on SL+1 then we will not get loss, we still get profit only 1 pips if the price move in opposite direction. So, nothing to lose. we still can get profit. It really save because we always follow the trend

    - - - Updated - - -

    Quote Originally Posted by taharoyal52 View Post
    Nowadays i have seen many many people trading on renko charts and making thousand of dollars everyday and this is really good.
    I would like to ask one question from your pic . WHat time frame is it? Is it 2min or what? and what is the size of the renko bar ? 5 pips , 10 pips or more?
    Thank you in advance :)
    well, we use EA to make renko chart, so there are no timeframe, we just have one timeframe, it is M2

    Quote Originally Posted by wanahito View Post
    I ever tried renko chart because looks like a wave technique. I have used various from 3 weeks to see the advantages and disadvantages of renko chart. But I need additional information such as pattern trend or pattern candle to see accurately. In my opinion renko chart is good but had to use the trend to more clearly.
    yes. i think we will see the trend more clearly than if we use other chart such as candlestick or bar chart

    Quote Originally Posted by HendiSTR View Post
    i always used renco if situation market sideways for scalp and get profit 30-150 pips for five digits..sometimes renco gift you false signal and sometimes gift good signal ...i always discipline this system and used money management for my psycology and will you have survive in the forex jungle
    Yeah, it is very important. Always use money management in every trade to save our account

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    As i knew renko chart strategy use EA to receive history data then produce a signal. The function is just like a bollinger bands, renko chart also have three bands to see overbought or oversold condition. And candlestick colour to read trend and read signal. I used this system long time ago and a bit forget for the details.

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    Quote Originally Posted by orque View Post
    yes it have m2 of renko time frame by default but you can change it .rebko chart is very good and give trader a lot of profit but very rapid to creat the box .so can you give me the EA if you want.
    Yes, of course.. here is the EA

    Quote Originally Posted by topman View Post
    As i knew renko chart strategy use EA to receive history data then produce a signal. The function is just like a bollinger bands, renko chart also have three bands to see overbought or oversold condition. And candlestick colour to read trend and read signal. I used this system long time ago and a bit forget for the details.
    No, renko chart in not an indicator, but like other chart such as line, bar and candlestick chart. You will see the different when you see my pic in the first post
    Attached Files Attached Files

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    now this trading strategy is very popular.many trader follow this strategy.Thanks for post about it.But plz post more about renko chart.When i first heare about this,then i have no interest about it.But now many trader follow this.I also want to use renko chart.Because i think it`s profitable and risk free.

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    Quote Originally Posted by matherputul View Post
    now this trading strategy is very popular.many trader follow this strategy.Thanks for post about it.But plz post more about renko chart.When i first heare about this,then i have no interest about it.But now many trader follow this.I also want to use renko chart.Because i think it`s profitable and risk free.
    You must use the EA, i posted it yesterday in my previous post. You can applied the EA in M1 chart. Then you can open the offline chart M2, then you will get the renko chart. It really easy to make the renko chart. After that you will see the chart is very different with candlestick chart and easier to make good analysis also

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