47# Renko in trend strategy
Scotlowry indicator MTF
Three moving averages with MTF filter
Submit by FreddyFX
Renko in trend strategy is a trend following trading system based on three moving averages filtered by an multitime frame indicator. This strategy can be used also withot renko chart. This strategy is very easy and profittable.
Time frame 15 min or higher. Best time frame 30 min and 60 min.
Box size 3 pips or higher.
Currency pairs: EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, USD/CAD, GOLD.
Metarader Indicators:
Exponential moving average 4 period close;
Exponential moving average 14 period close;
Exponential moving average 40 period close;
Scotlowry indicator MTF;
Pivot points levels.
Trading rules Renko in trend strategy
Trading in the direction of time frame 60 min 4H.
Trend up EMA 14>EMA 40
trend down EMA 14<EMA 40
Buy
EMA 14>EMA 40
Timing EMA 4 >EMA14
Place initial stop loss on the last swing low.
Make profit discretionary or athe pivot points levels.
Sell
EMA 14<EMA 40
Timing EMA 4 <EMA14
Place initial stop loss on the last swing low.
Make profit discretionary or athe pivot points levels.
In the pictures Renko in trend strategy in action
Share your opinion, can help everyone to understand the forex strategy.
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