3# Goldflight's Renko strategy Trading System

Renko Chart Forex Strategy

Submit by Joy22

Pairs:all

5 block renko chart.

Indicators:

10 ema (blue)
20 ema (red)
PJ- Over rsi 7-50-50
PJ- Over rsi 14-50-50
Pivot points on 1 min chart
FIBS on 1 min chart

Long entry:

Block closes above 10 ema, 10 ema above 20 ema, PJ rsi 7 and 14 green.

Short entry:
Blocks closes below 10 ema, 10 ema below 20 ema, PJ rsi 7 and 14 red

The trailing ea on the 1 min chart set at 15 pip s/l, 100 pip t/p, 15 pip trail stop, move to break even 15 pips, and 2 pip lock.

In the picture Goldflight's Renko strategy forex system in action.

Share your opinion, can help everyone to understand the forex strategy.

Comments: 6

#1
mohsen (Friday, 23 May 2014 20:29)

thanks
#2
Matthew Bouchard (Monday, 03 November 2014 17:55)

What is a good exit plan on this strategy? I have been killing it! But I keep exiting really late or to early. Any suggestions will help.
#3
Vladimir Draganov (Friday, 12 December 2014 12:52)

Hi Joy22,

Your system is very helpful and is actually similar to mine. It will help produce more accurate signals. Here are what comments I have.

1. I have taken off all pivot levels and simply changed it with "Sweet Spots" indicator - this draws a line on round levels and mid levels of price movement. For example - 1.5000/round level/ 1.5050/mid level/
2. I am taking into consideration Heiken Ashi smoothed especially on cross overs. For confirmation close to a price round level or a mid one as mentioned above.
3. ADX crossing is lovely indicator, but I am not sure if stays once it shows or repaints. I am only looking at dots for confirmation especially on levels from Sweet Spots
4. I am using 10 pip brick on "S-renko bars"

I can attach the indicators if needed.

Thank you and great work!

Vladi
#4
Matt (Thursday, 01 January 2015 19:13)

Hi Vladi!

I have a similar system to trade Renko charts. Here is my email address: MathTrader7@gmail.com
#5
Hans (Saturday, 16 July 2016 01:51)

Great strategy. Money machine!!
#6
Jorge A (Tuesday, 18 February 2020 10:15)

Good strategy. How to use the pivot points?