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Renko Charts are no nonsense. Only Price. (3) simple rules to remember. Repeatable & easy to follow.
I like looking at Renko too but never figured a good way to use it for trades, so thanks for sharing, will follow this for a while and see how it does.
Great job & good luck!
Thnak You. I chart Renko a lot; for reviews only. Never use it for entry or exit strategy ( I should). Using PSAR is an interesting idea, I should have a look. I am using ema(9), VSTOP, and RSIStoch.
Great job!
If you can demand taking 80% of a move (Sweet Spot) & not worry about the top or bottom, it's profitable. Use e buy signal for entry. The next signal for exit. Otherwise, stay with the trade.
+2 Reply
Hi please can you list those 3 rules
Sure. There ate numbered on the chart. Parabolic SAR switch, Renko Brick breaks the EMA(7) and Stochastic breaks the 80% line for a Sell Trigger.
Olu fibline
Thanks for clarifying it. I will place these on the things I trade and see how they fare
I know you'll be impressed. Make sure to adjust Parabolic SAR to match my settings on chart. Cheers.
webman9113 fibline
What strategy (if any) would you recommend for stop placement (particularly a protective stop after entry)?
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