Renko Ultimate With Excellent Filter

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Submit by Gemb’s Trader

Renko Ultimate With Excellent Filter is a forex strategy based on renko chart system combined with forex strategy following trend. The strategy also features a multi-timeframe MT4 indicator that serves as a filter to determine the direction of market trends. This filter indicator is set at D1 time frame, which is useful to reduce the risk of error in analyzing market trend direction.

Time Frame : Use renko chart (M2, M3, M4 etc).
Setting for with renko chart :
Renko Box Size 10
Renko Box offset 0

Currency pairs : Any (recommended Major pairs)

Metatrader Indicators :
$_CC_Cloud_2 (set at D1)
Filter Multi Time Frame (set at D1)
ITM X-Gen SYNT (default)
SimpleBars matf (set at D1)
TMA+CG mladen (default)
trendalt_Alert (9)

Template :
Renko Ultimate With Excellent Filter.tpl

Expert Advisor :
MathTrader7_RenkoMultiChartCreatorEA
RenkoLiveChart_v3.2

Trading rules Renko Ultimate With Excellent Filter :
Buy :
1. Filter Multi Time Frame indicator green bar color
2. $_CC_Cloud_2 indicator green color
3. SimpleBars matf indicator green color
4. Appear up aqua arrow on ITM X-Gen SYNT indicator
5. Appear aqua color cross symbol TMA+CG mladen indicator (optional, you can use ITM X-Gen SYNT indicator or TMA+CG mladen indicator for entry order)
6. The buy signal occurs when a canal is opened from the area below the zero line to the area above zero line.

Renko Ultimate With Excellent Filter Buy

Renko Ultimate With Excellent Filter Buy

Sell :
1. Filter Multi Time Frame indicator red bar color
2. $_CC_Cloud_2 indicator red color
3. SimpleBars matf indicator red color
4. Appear up magenta arrow on ITM X-Gen SYNT indicator
5. Appear magenta color cross symbol TMA+CG mladen indicator (optional, you can use ITM X-Gen SYNT indicator or TMA+CG mladen indicator for entry order)
6. The sell signal occurs when a canal is opened from the area above the zero line to the area below zero line.

Renko Ultimate With Excellent Filter Sell

Renko Ultimate With Excellent Filter Sell

No Trade Area :
no trade area occurs if one indicator is not in accordance with the terms of buy / sell, more details see the picture below

Renko Ultimate With Excellent Filter No Trade Area

Renko Ultimate With Excellent Filter No Trade Area

Close Order :
You can use take profit for close order or use TMA+CG mladen indicator (close buy if appear magenta color cross symbol, and close sell if Appear aqua color cross symbol)

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