Before giving you false hope, this strategy, like any other, will not have a 100% wining ratio. But, with a RR of about 1:2, and a wining rate of 40%, it will make money long term. A tested wining percentage is around 60% depending on market conditions.
Time frame : 4h
Indicators used:
- Renko chart
- Cumulative Delta
- RSI
- OBV
- Moving average 9
Candlestick patterns: If is the case, there is an advantage.
Entries signals: Only with Pending orders on retracement, after signal 1 triggered.
1. Reversal brick on Renko
2. Divergence/Convergence on Cumulative Delta. If you do not know about this, you can check on my website at the course section.
3. Divergence on RSI indicator
4. OBV must follow the Renko brick. AS in the given example, if green Brick, than OBV must increase in volume.
5. Moving average is used like standard, or normal settings. Entry on cross, or touch.
Exits
TP : Renko brick reversal or standard RR according with SL.
SL : According with structure, or Renko brick size. IF Renko brick is forming every 1000 points, than it is recommended for SL to have the same size.
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