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Light triumphs. The NON-Repaint (arrows) MT4 Renko Trading System known as “MT4 Strategy” provides simple Buy/Sell signals on Renko charts. For Renko charts, it is a trend-following approach based on trend indicators. in order to filter out all market noise, including manipulations and spikes.
Re: Renko
The foundation of Renko charts is PRICE, not TIME. Tick every tick, Renko charts dynamically update. For predicting the shift in market mood that comes before a new trend, Renko charting is said to be the most accurate. The appearance of a candle of a different color indicates a trend reversal. Trading in the trend’s direction and exiting when it changes direction is a simple strategy to implement. On Renko charts, support and resistance levels are clearly visible.
Renko Indicator charts eliminate market turbulence, clearly display trends, and quickly spot reversals. Trading professionals find that Renko charts are particularly useful for pinpointing important support and resistance levels. Buy/sell signals are produced when the trend’s direction and the candles’ color change. Each Renko candle has a display showing the actual volume values.
You can add more chart analysis to the trading signals provided by the Light Wins MT4 Indicator to further filter them, which is advised. Although this strategy can be used by traders of all experience levels, it may be helpful to practice trading on an MT4 demo account first until you are reliable and self-assured enough to trade in real time.
Stick to your money management plan and avoid trading during a period of breaking news. Before a half-hour and an hour of the high-impact forex news, stop trading.
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 | No Minimum Deposit ECN Acount No Commission | |
 | Min Deposit of 20$ |
You will receive a signal alert from Renko Trading System via email and platform pop-ups. This is advantageous since it allows you to monitor numerous charts at once and eliminates the need to spend the entire day staring at the charts in anticipation of signals.
Any Forex currency pair as well as other assets including stocks, commodities, cryptocurrencies, binary options, precious metals, oil, gas, and so on can be traded using the MT4 Renko Trading Strategy.
How to Use
- An indication to buy is shown by a green arrow.
- A sell signal is shown by a red arrow.
Trade just in the trend’s direction. It has four direction signals. You need three concordant signals, including the arrow, in the same direction to validate an entry.
Buy
- Green Buy arrow on the trend line, supported by two further signs.
- Green ultrasonic signal indication, BKMGC1 Candles drawn in green, or two upward-crossing MACD lines.
Sell
- Green Buy arrow on the trend line, supported by two further signs.
- Green ultrasonic signal indication, BKMGC1 Candles drawn in green, or two upward-crossing MACD lines.
Exit
Use the risk-to-reward ratios or the opposite signal to profit from your order.
- High for Sell trades during the most recent swing.
- For Buy transactions, the swing’s low was reached.
- close to a significant region of support or resistance.
- Or take the opposing signal to leave.
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