Renko Trend With Momentum
Moving average channel
Stochastic as timing for entry
Submit By Janus Trader
Renko Trend With Momentum is a strategy based on a channel of moving average and renko chart. In this case the amplitude of the box size is based on the ATR. In the proposed charts there is a display of the renko chart in reference to different time frames. The entry timing is generated by the stochastic, conservatively when the stochastic has first reached the overbought or oversold area. However, all intersections in the direction of the trend can also be taken.
Setup Strategy
Renko chart with ATR 14 periods.
Simple moving average 75 periods high.
Simple moving average 75 periods low.
Simple moving average 6 periods, close.
Stochastic oscillator (5,3,3).
Trading rules Renko Trend With Momentum
Buy
Renko box above the channel.
Stochastic oscillator reaches oversold area and crosses upward.
The renko box above moving average 6 periods.
Sell
Renko box below the channel.
Stochastic oscillator reaches overbought area and crosses downward.
The renko box below moving average 6 periods.
Exit position
Place initial stop loss below/above the previous swing high/low.
Make profit before levels of support/resistance, with ratio stop loss 1:1.3. or fast profit with 2 or 3 box size.
Example of trades.
