64# Play With Renko Scalping
Forex Scalping with Median Renko
Median Renko trading Buy and Sell
Submit by Janus Trader
Play With Renko Scalping is a trend momentum high frequency trades (HTF) for trading in Scalping with median renko. The strategy is based on trend following indicator as simple moving averages Heiken Aschi and Buy Sell indicator ( The strategy do not repaint, I make this clarification because it seems that at this moment it is the obsession of many novice traders). The strategy is based on median renko because this timing indicator proves to be more accurate on this type of chart, especially as regards the reading of the trend and as entry timing. Good results are also obtained with range bars (as chart).
Setup Strategy
Type Trend Momentum
Style: Scalping Day Trading
Chart Median Renko setting:
Box Shift 25.
Box Size day trading, scalping 6 pips-14 pips dependes by currency pairs. The higher the box size, the lower the noise.
Box Size for fast scalping Nasdaq 100, 500 ticks.
Currency pairs Majors, Indices Gold and Oil.
Metatrader 4 indicators
Simple moving Average 150 period, close.
Simple moving Average 21 period, close.
Heiken Ashi
below the main chart in the same window
Buy Sell indicator 21 periods.
Trading rules Play With Renko Scalping
Trades only in the direction of the trend.
Trend up= price above SMA simple moving average 150.
Trend down= price below SMA simple moving average 150.
Buy
Trend up in the main chart.
Heiken Ashi white color
Buy Sell indicator >0
Close position when Buy Sell indicator changes direction.
Profit Target 6-14 pips depends by currency pairs and box size.
Sell
Trend down in the main chart.
Heiken Ashi red color.
Buy Sell indicator <0
Close position when Buy Sell indicator changes direction.
Profit Target 6-14 pips depends by currency pairs and box size.
Examples of trades.
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