Trading strategy DSS with Extreme TMA on Renko charts
Trading strategy DSS with Extreme TMA based on Renko charts using DSS and Extreme TMA indicators and can be used for scalping, intraday and short-term trading.
Input parameters
- Currency pairs: any.
- Timeframe: Renko graphs are used.
- Bidding time: any.
- Risk Management: After calculating the stop loss, choose this lot sizeto risk no more than 2-5% of the deposit per trade.
Installing Expert Advisor and Trading Strategy Template
1. Unpack the archive with templates and indicators.
2. Copy the Expert Advisor to the folder MQL4 -> experts.
Copy the template into the templates folder.
4. Restart the terminal.
5. Open the chart of the desired currency pair.
6. Switching to the time frame M1.
7. Activate the "Auto-Trade" mode.
8. Attach the renkolivechart_v2 expert to the chart (a funny face should appear in the upper right corner).
9. Depending on the type of trade, set the block size:
- When scalping, block size: 4-5 pips.
- In intraday trading block size: 6-10 pips.
- When trading on the fluctuations, the size of the block: 11-20 pips.
10. Go to File -> Open Offline and select the chart of our instrument created by the Expert Advisor for the M2 timeframe.
11. Install the template with the name Dss with TMA.
The schedule should look like this
Signals indicating the opening of a long position (buying)
- The blue line on the price chart (TMA indicator) has a maximum upward slope.
- A green cube has formed below the TMA indicator.
- On the indicator DSS (bottom window) formed a green dot below the level of 50 (even better below the level of 20).
- Stop Loss is put under the nearest local minimum.
Signals indicating the opening of a short position (sale)
- The blue line on the price chart has a maximum downward slope.
- A red cube was formed above the TMA indicator.
- The DSS indicator has formed a red dot above the 50 level (even better above the 80 level).
- The stop loss is placed over the nearest local maximum.
According to ForTrader.org experts, if the rules of maneuvering, DSS with Extreme TMA trading strategy will be quite profitable. A positive quality of the strategy is the possibility of introducing additional filtering indicators, which will increase its effectiveness. Another "plus" of the strategy is that it can be used for different types of trading (scalping, intraday and short-term trading).
ForTrader.org experts recommend trading only in the direction of the trend and do not recommend opening positions before and during the release of important economic news.
Download templates and indicators
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