52# Renko Trend Magic
Trend Magic filtered with Renko chart
MACD colored and Delta indicator as filter
Submit by Lorenz
Renko Trend Magic is a trend momentum strategy that works on renko charts or with bar chart but at higher time frame. The main feature of this trading system is to have a robust filter system based on MACD color, Delta indicator and moving averages.
Renko charts with box size 5-6 pips for day trading, 7 pips or above for swing trading.
Bar chart time frame 4H, daily or weekly.
Metatrader 4 Indicators setting
Heiken Ashi.
Round price T3 96 period.
Trend Magic CCI 50 ATR 5.
Moving average 5 period smoothed, high.
Moving average 5 period smoothed, low.
Moving Average in color period 12, close.
MACD color fast EMA 5, Slow EMA 35.
RSI (10 with levels 55-45).
Delta (18, 5).
Trading rules Renko Trend Magic
Buy
Price above the Round price.
Trend Magic blue line.
Delta indicator crosses upward.
MACD Histogram blue color above 0.
Initial stop loss below the low swing.
Sell
Price below the Round price.
Trend Magic red line.
Delta indicator crosses downward.
MACD Histogram red color above 0.
Initial stop loss above the high swing.
In the pictures Renko Trend Magic in action.
Share your opinion, can help everyone to understand the forex strategy.
