Renko with Volume Spread Analysis
Submit by
Joy22 (Written by
Canuckct) 31/12/2011
I time my entry using M2 and a 4 pip renko. Those two charts must be in agreement....after price crosses the 10sma, the open of the next bar is where I enter when I believe that the price is starting to move.
I time my entry using M2 and a 4 pip renko. Those two charts must be in agreement....after price crosses the 10sma, the open of the next bar is where I enter when I believe that the price is starting to move.
The swingman indicator is there as a visual only as sometimes I have a hard time
reading immediate price action and I have a bias for movement. This helps me get rid of that.
Once I'm in a trade, I like to ride the 10sma on the renko chart....when it crosses back I'm out.
Here is a trade I just closed....and is typical of the trades I'm looking for...although M5 doesn't always seems to be as abvious as this trade.
Once I'm in a trade, I like to ride the 10sma on the renko chart....when it crosses back I'm out.
Here is a trade I just closed....and is typical of the trades I'm looking for...although M5 doesn't always seems to be as abvious as this trade.
Sign up here with your email