60# Renko with Half Trend and MACD

Submit by Dimitri

Renko with Half Trend and MACD is a price action trend reversal strategy based on Half Trend filtered by MACD and levels of support and resistance. The trading system suitable for renko chart and range bar. the trading system aims to look for the reversal points both in trend and against trend when the price is out of the channel and bounces above / below a support and resistance level.

Box size Renko-chart 4-5 pips or above.

Range Bar box size 6 pips or above.

Metatrader 4 Indicators

Half Trend amplitude 2 period

ZZ Semafor

TMA Bands

MACD 865,75,35)

SS support and resistance

Script: load History

Expert: Evolution Renko, Quick trailing. Smart range bar.

Trading rules Renko with Half Trend and MACD

Buy

Price below or touches band the lower band of TMA.

Price bounces above of the level of support.

MACD >0.

Half Trend sell arrow

Sell

Price above or touches band the upper band of TMA.

Price bounces above of the level of support.

MACD <0.

Half Trend sell arrow

Exit Position options

Initial stop loss below/above the previous swing high/low

Profit Target At the levels os Support or Resistance.

Profit target ratio stop loss 1: 1.13.

Exit whe the Halftrend changes direction.

In the pictures Renko with Half Trend and MACD

Telegram channel:https://t.me/freeforexresources

Youtube channel: https://bit.ly/2DPF7VX

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