Renko Street V2 strategy
Renko Street V2 strategy is another updated version of the RenkoStreet chart. This system is really simple and easy to use. Most of the losers in the forex market believed that they could predict the future. However, if everyone knew everything, prices would never have been a surprise and market would not exist. Guessing is the first sign of failure in the market. This system was actually built to make trading easier for the average person and professional trader, and see a real market picture to help you to be a highly successful trader.
Renko Street V2 Trading system is based on Renko chart. Renko chart is a type of chart developed by the Japanese, which is only concerned with the price action. Renko chart ignores the time and volume side of the trading. Renko word is derived from the word ‘renga’ which means bricks. Renko chart can be very effective for traders to identify key support/resistance levels. Trading signals are generated when the trend reverses. Renko chart doesn’t have high and low values. Renko charts will create a brick if the price moves up or down by the number of pips specified as your brick size. We can edit the box size of the Renko chart. A new box will appear o the chart only when the significant reversal occurs on the chart. When the size of the box is set to smaller settings, the new boxes will come faster and slower when the box size is set to higher settings.