Renko Street Trading System

Renko Street Trading System is a very interesting trading system based on Renko charts. The strategy is easy to use (even a beginner will master), equipped with simple rules for installing Stop Loss and Take Prot. The system is devoid of repainting indicators and the number of false signals has been reduced due to Renko charts. 

Renko Street can be used to trade in any trading session, whether it be the London, New York or Asian sessions.

Chart Setup

You will need the following indicators can found in the downloaded zip file at the bottom of this page :

Indicators
RenkoStreet_channel
RenkoStreet_MTF
RenkoStreet_PV
RenkoStreet_TL
RenkoStreet_Trend

Experts (to make the offline Renko chart)
Renko EA
Trailing Stop EA

Templates
RenkoStreet
RenkoStreet+

RenkoStreet User Manual.pdf - Important read step by step guide in the user manual to setup the offline renko charts 

Chart Timeframes : ANY using three modes of the FX Nuke
Target Pips : 1M 7 Pips, 5M 15 pips, 15M 20 pips.
Timeframes : Renko uses M2 as a minium timeframe 
Pairs : Works on any pair recommend are GBPUSD, USDJPY, EURUSD 
Trading Times : Tokyo Open, London open and New York open is the best time to open the trades, 
Exits : The exit should be based on the indicators and major support and resistance areas
Metatrader Version : 4

Renko Street Trading System
Renko Street Trading System
Renko Street Trading System
Renko Street Trading System

How to use the system

Renko Street is built on the use of Renko charts. That gives it some advantages and reduces strong trading noises. What are these charts, you can read more in Investopedia. I will not quote here. Let me just say that, compared to traditional candlestick charts, Renko charts make the decision-making process much easier.

Before you install the template strategy to the chart, we need to do some preparation. Namely, prepare the chart and generate on it the Renko chart. This will help us EA RenkoLiveChart_v3.2, which comes with the system. The sequence of the system installation,

Buy Setup

1 RenkoStreetMTF is green and shows an upward trend
2 Price pushed off the RenkoStreet_Channel and a green dot appeared
3 RenkoStreet_Trend is green

Stop Loss (SL) and Take Prot (TP) set on the borders of the channel as shown in the images.
The author of the system proposes to additionally install the second Take Prot (TP2) and use trailing stop (Trailing Stop EA),

Important read step by step guide in the user manual to setup the offline renko charts 

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