WARNING WARNING WARNING !!!
Before you proceed this strategy is still under testing don't take live trades. Work it on demo or manually backtest it.
This space will be updated frequently
I have posted another system on this forum but that style requires a lot of work. So I am presenting a new style which is simple but logical.
It is a very simple Renko system.
*** USE TIME BASED RENKO ONLY, NOT TICK DATA RENKO ***
Time based Renko is more smooth and removes a lot of noise.
*** USE ATR CALCULATION ONLY, SINCE WE ARE DEALING WITH MULTI TIME FRAME ***
Since we are dealing with multiple timeframes it will make our jobs easy.
*** I USE TRADINGVIEW BECAUSE THERE IS A PARTICULAR INDICATOR WHICH I USE ***
It will be good if someone made a mt4 or mt5 version of it (Indicator will be mentioned below)
INDICATOR HERE !!!!
This is the link to the indicator https://www.tradingview.com/script/j...Renko-Candles/
Thanks to the programmer it is available for free.
All it does is paint the candlestick as per the Renko colour, so you can trade Renko on regular time frames.
I would like to develop on this strategy.
CHART SETUP VIDEO :
I will be super active on this thread as it is my most important work from now on. I am really tired of my day job and living under huge family debt. I have lots of money to invest into the markets but I won't throw it before testing a system and its odds. I will be working with MS excel to backtest and find edge.
Also it might sound I am foolish but I need to be making some profits. I am in forex business for almost 2 years on and off and still am not consistent.
Please don't judge me, any positive guidance is very much required.
Cheers
Before you proceed this strategy is still under testing don't take live trades. Work it on demo or manually backtest it.
This space will be updated frequently
I have posted another system on this forum but that style requires a lot of work. So I am presenting a new style which is simple but logical.
It is a very simple Renko system.
*** USE TIME BASED RENKO ONLY, NOT TICK DATA RENKO ***
Time based Renko is more smooth and removes a lot of noise.
*** USE ATR CALCULATION ONLY, SINCE WE ARE DEALING WITH MULTI TIME FRAME ***
Since we are dealing with multiple timeframes it will make our jobs easy.
*** I USE TRADINGVIEW BECAUSE THERE IS A PARTICULAR INDICATOR WHICH I USE ***
It will be good if someone made a mt4 or mt5 version of it (Indicator will be mentioned below)
INDICATOR HERE !!!!
This is the link to the indicator https://www.tradingview.com/script/j...Renko-Candles/
Thanks to the programmer it is available for free.
All it does is paint the candlestick as per the Renko colour, so you can trade Renko on regular time frames.
I would like to develop on this strategy.
CHART SETUP VIDEO :
Inserted Video
I will be super active on this thread as it is my most important work from now on. I am really tired of my day job and living under huge family debt. I have lots of money to invest into the markets but I won't throw it before testing a system and its odds. I will be working with MS excel to backtest and find edge.
Also it might sound I am foolish but I need to be making some profits. I am in forex business for almost 2 years on and off and still am not consistent.
Please don't judge me, any positive guidance is very much required.
Cheers
Excavator to Trader