forex2u Posted February 25, 2011 Report Share Posted February 25, 2011 Please Share if someone have this system set. The simplest way to trade the Renko Charts is to Buy and Sell on the Color Changes...but since these charts are time-based, many traders prefer to set a specific profit target (30 pips seems to work best) and then "set and forget" their trade. Others prefer a bit more confirmation before they trade, so they include one or more indicators to help them decide to get into any specific trade. http://www.simple4xsystem.net Thanks! Quote Link to comment Share on other sites More sharing options...
iwjw Posted February 25, 2011 Report Share Posted February 25, 2011 Just google for renko on MT4...it's a free shared EA But you will be disappointed when trading with renko and make your trades depending on the color It doesn't work that way...you'll get whipsawed sooner or later no matter what blocksize you are using And keep in mind that a color change always represents the double amount of the block size If you're using 10 pips and color changes price went 20 pips (against you) Quote Link to comment Share on other sites More sharing options...
Saivenkat Posted March 27, 2011 Report Share Posted March 27, 2011 Any extra indicators available to overcome the Whipsaws? If any please somebody share. Regards Saivenkat Quote Link to comment Share on other sites More sharing options...
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