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Renko Chart Chase FX Trading Strategy

Amandeep Sonewane | May. 23, 2019
Renko Chart Chase FX Trading Strategy

You can now download the Renko Chart Chase FX Trading Strategy for free on AtoZ Markets indicators gallery.

Renko Chart Chase FX Trading Strategy is a price action based strategy that uses a renko chart. Though this is intended for scalping, it can still be used for swing trading.

Renko box size 3-5 pips is used for scalping, for EU pair, use 3 pips, for GU use 3 pips, UC 3 pips, AU 2 pips, and GJ 4 pips.

Timeframe: any

Currency Pair: any

Trading Session: any

How to trade with Renko Chart Chase FX Trading Strategy?

Buy Entry

  • Forex Entry point is an aqua bar.
  • Forex Strategist Support;
  • Dynamic arrow indicates buy arrow.
  • MA 3 is greater than MA 5.
  • Gold Miner green bar.

Sell Entry

  • Forex Entry point shows red bar.
  • Forex Strategist resistance.
  • Dynamic arrow indicates sell arrow.
  • MA 3 is less than MA 5.
  • Gold Miner red bar.

Exit Position

  • Set an initial stop loss on the previous swing
  • Take profit depends by currency pairs and renko box, 7-12 pips is ideal.

How to download and install an indicator?

In order to install the indicator on your MT4 platform, you need to follow these steps:

  1. Click on “Download Indicator” button located at the top right corner of the screen.
  2. Save the file to your computer.
  3. Extract and move the files into MT4>Indicator folder of the MetaTrader4 software file directory.
  4. Restart your Metatrader platform.
  5. Navigate to “Indicators.”
  6. And select “Renko Chart Chase FX Trading Strategy” template to apply it on the chart.

Note: This indicator was developed by ZigZag. AtoZ Markets does not carry any copyrights over this trading tool.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ, nor should they be attributed to AtoZMarkets.