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Product Description

When you talk about a trend following strategy, the first indicator that comes to mind is a moving average indicator. However, most traders struggle with catching the trend as pullbacks and fakeouts are often seen during a trend. Regardless of whether the trend is established or if the trend is chaging.

A distinct advantage Renko charts have in regards to trend is that by capturing purely the price movements, the noise is eliminated Combining this with a moving average in itself offers a fairly better odds of success. But what if this simple trend strategy could be improved?
Load a simple moving average onto your Renko charts. In regards to the moving average period, select the same pip size of your renko charts.
For example, if you were looking at a 25 pips Renko chart, you can use a 25 period simple moving average (set to close). It is entirely upto the trader what period moving average they want to use. So it doesn’t matter whether you use a 25 period or a 50 period moving average.
For the Stochastics oscillator, we use a 5, 3, 3 setting with 80 and 20 determining the overbought and oversold levels.
The chart below shows the Renko trend and timing strategy set up, where we use a 25 pip fixed Renko box size, a 25 period moving average and a 5, 3, 3 Stochastics oscillator set up.

Renko Trend and Timing Strategy – Rules
For Short positions

Price must be below the Simple moving average
Wait for Stochastics to reach to 80 level and then crossover below 80
Place a pending Sell order on the Renko closing price with stop loss at the most recent high (add a few pips if you’d like)
Keep an open take profit and book partial profits when a next similar signal occurs. Alternatively, book partial profits when Stochastics rises from below 20
Continue to add to positions and trail your stops to the most recent highs until you see an opposite signal
For Long positions

Price must be above the Simple moving average
Wait for Stochastics to reach to 20 level and then crossover above 20
Place a pending Buy order on the Renko closing price with a stop loss at the most recent low
Take partial profits when Stochs crossover above 80 or fall from 80
Continue adding to positions until you see an opposite signal

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