Swing Trading Using Forex Renko Chart Strategy
Table of Contents
This strategy is a price action based strategy that uses renko chart. Though this is intended for scalping, it can still be used for swing trading.
Renko box size 3-5 pips is used for scalping, for EU pair, use 3 pips, for GU use 3 pips, UC 3 pips, AU 2 pips and GJ 4 pips.
- Moving average 3;
- Moving average 5;
- Heiken Ashi MA T3;
- Dynamic Gains;
- Forex Strategist Support and resistance;
- Gold Miner 2;
- Hirurgia 3.0 (optional);
- Renko live chart indicator buil 600+;
- Forex Entry point;
- Dynamic bull Bear Band.
- Forex Entry point is an aqua bar.
- Forex Strategist Support;
- Dynamic arrow indicates buy arrow.
- MA 3 is greater than MA 5.
- Gold Miner green bar.
- Forex Entry point shows red bar.
- Forex Strategist resistance.
- Dynamic arrow indicates sell arrow.
- MA 3 is less than MA 5.
- Gold Miner red bar.
- Set an initial stop loss on the previous swing
- Take profit depends by currency pairs and renko box.
7-12 pips is ideal.
Forex Trading Strategies Installation Instructions
Forex Renko Chart Swing Trading Strategy is a combination of Metatrader 4 (MT4) indicator(s) and template.
The essence of this forex strategy is to transform the accumulated history data and trading signals.
Forex Renko Chart Swing Trading Strategy provides an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust this strategy accordingly.
Recommended Forex Metatrader 4 Trading Platform
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- Demo accounts for testing trading strategies.
How to install Forex Renko Chart Swing Trading Strategy?
- Download Forex Renko Chart Swing Trading Strategy.zip
- *Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex strategy
- Right click on your trading chart and hover on “Template”
- Move right to select Forex Renko Chart Swing Trading Strategy
- You will see Forex Renko Chart Swing Trading Strategy is available on your Chart
*Note: Not all forex strategies come with mq4/ex4 files. Some templates are already integrated with the MT4 Indicators from the MetaTrader Platform.
Click here below to download: