renko day trading strategy

was more sure signal to enter. I prefer bigger box sizes because with them I can catch bigger moves. Second one was later, when price broke above resistance marked with red line (based on recent lower high).17. If you are not sure, which box size will be ok, start with size based on ATR. Audnzd two trades You can see that later there was a strong move. Getting started with renko charts trading. Divergence on RSI and macd It is very powerfull signal and it is much easier to spot than on normal candlestick chart. Manual box size yen pairs.

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Audnzd, box size 16 It is important, not only with Renko but overall, to be disciplined about money and position management. With bigger box size, lets say 15 pips, you will see only two boxes and you can see better market picture. Sometimes I change it, it is not written in the stone. That is the main reason why I do not trade 1m or 5m and switched to higher time frames. It is up to you. We have two groups. And when to exit? This Renko trading strategy offers a favorable risk/reward ratio with consistent profits. Divergence from RSI Divergence when price makes new high but indicator does not confirm that, work pretty nice with Renko. Click here to watch and subscribe! In my case, I do that only for smaller corrections. How to trade with renko, there are many ways you can use it in your trading system.