After consistently working on this strategy for about 2-3 months now I am finally ready to present my Renko trading strategy that should revolutionize your trading. Since my strategy has a definite set of rules it will be possible to backtest the strategy with the help of everyone on the forum. If traded properly I believe the strategy should have a 80-90% winrate with a good risk to return ratio. With the help of many of the coders on this forum, I have used many of their indicators, one of XARDS indicators, and my own knowledge to create this multi time frame strategy. With everyone's help, we should be able to create this into a profitable system

I will do a separate post with the exact rules

Renko Trading system

- There will be 2 charts running for each currency being traded
- A 1 hour chart and a 10 pip renko chart

Since this system deals with Swing trades, only low volatiality currencies cna be traded such as currencies labeled in blue/green that do not move much more than 100.
download/file.php?id=3357372&mode=view


The bands template is to be placed on the renko chart
while the ATS chart is placed on the hourly chart

The indicators are attached below. Many are actually from this Forum including XArds moving averages and other trend indicators from coders on the forum. Make sure to insert the renko live chart into the expert advisors folder. To set up the charts insert the ATS template on the hourly chart and then go to offline charts and select the M2 timeframe for your renko chart and insert bands v8 onto the renko chart

The rules are as follows

Type 1 trade (easy reversal)
Price closes (long wicks count) in the ATR BANDS without trend intensity indicator giving trend signal
Enter on the 1-hour chart using ATS (white line) and XARD confirmation
Stop-loss maximum of 25 pips
Breakeven on 30 pips
Take profit at around 50-70 pips
Do not trade if the price has already moved 50-60 pips

Type 2 trade (Trend indicator trade)
The chart is trending according to trend intensity (Orange/blue)
If price is overbought or oversold buy/sell into pullback
Enter on 1-hour chart using Black Xard candles for confirmation
Price must be in a trend (confirm with a trend line)
If you already traded breakout, do not trade type 2
Stop-loss maximum of 25 pips
Breakeven on 30 pips
Take profit at around 50 pips
If breakout has occurred
If following trend line CLEAR SIGNAL IS NOT NEEDED
If you get stopped out; look for re-entry in the same direction

Type 3 trade (Breakout trade)
Draw trend line on the chart using at least 3 points of contact
Stop-loss maximum of 25 pips
Breakeven on 30 pips
Take profit at around 50 pips
Trade breakout using confirmation of ATS and Xard
Exit trade with Xard
Re-enter breakouts using Xard after re-test if they occur

Type 4 trade (Failed type 1 trade)
If breakeven or stop out occurs of type 1 trade that means that a trend is occurring
Or if failed type 1 signal occurs from Xard and ATS (Black candles)
Immediately take next buy/sell trade using Xard and ATS for confirmation
Stop-loss of a maximum of 25 pips
Take profit at around 35 pips

The rules of the strategy can be adjusted and tweaked if anyone sees any issues. Trading right now is extremely dangerous due to the coronavirus causing a large amount of volatility in even the quietest pairs in the market like the EUR USD. However, when backtesting this strategy before the outbreak it seems to provide good trades a lot of the time.