Trending trading strategy RenkoTMA based on Renko charts

Trending trading strategy RenkoTMA is based on a classic combination of trend indicators and oscillator: moving averagesThe TMA indicator and the MACD oscillator and uses Renko charts.

Input parameters

• Currency pairs: any highly volatile currency pairs.
• Timeframe: Renko graphs are used.
• Bidding time: any.
• Risk Management: After calculating the stop-loss, choose such a volume of the lot that the risk was no more than 2-5% of the deposit per trade.

Installing Expert Advisor, Indicators and Strategy Template

1. Unpack the archive with templates and indicators.
2. Copy the Expert Advisor to the folder MQL4 -> experts.
3. Copy the indicators to the folder MQL4 -> indicators.
4. Copy the template into the templates folder.
5. Restart the terminal.
6. Open the chart of the desired currency pair.
7. Switching to the timeframe
8. Activate the "Auto-Trade" mode.
9. Attach the RenkoLiveChart_v2 Expert Advisor to the chart (a funny face should appear in the upper right corner). Leave the default parameters of the Expert Advisor.
10. Go to File -> Open Offline and select the chart of our instrument, created by the Expert Advisor for the M timeframe
11. Install the template with the name RenkoTMA.

The schedule should look like this:

Signals indicating the opening of a long position (buying)

• The EMA 13 moving average is above the EMA 48 moving average.
• The price crossed the EMA 13 moving average from the bottom to the top.
• The histogram of the TmaSlopeTrue indicator is green and is above the 0.4 level.
• Oscillator histogram MACD blue and is above the zero level.
• A stop loss is placed under the nearest local minimum.
• A trade is closed when price crosses the EMA 13 moving average from top to bottom.

Signals indicating the opening of a short position (sale)

• The EMA 13 moving average is below the EMA 48 moving average.
• The price crossed the EMA 13 moving average from the top down.
• The histogram of the TmaSlopeTrue indicator is red and is below the -0.4 level.
• The MACD oscillator histogram is red and below the zero level.
• Stop Loss is put over the nearest local maximum.
• A trade is closed when price crosses the EMA 13 moving average from bottom to top.

When opening and closing trades, the experts of fortrader.org recommend using RenkoTMA trading strategy for intraday and short-term trading and pay attention to significant support/resistance levels and reversal levels.

Download template and indicators

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