RenkoSwing trend trading strategy uses Renko charts for scalping within price swings. It relies on standard MetaTrader 4 or 5 forex indicators for signals and filters, with simple rules suitable for beginners.
Trading Parameters
To start trading and analysis, use these parameters:
- Currency pairs: any
- Timeframe: Renko charts (M2 timeframe)
- Trading time: any
- Risk management: after calculating stop-loss, select lot size so risk is no more than 2-5% of deposit per trade
Indicators Used
For currency pair analysis, use signals from these indicators:
- SMA (50) – determines higher timeframe trend and filters entry direction;
- ATR (60) – filters volatility;
- Stochastic (14,3,3 or 15,4,4/15,5,5) – identifies entry points;
- EMA (5) and SMA (8) – moving average crossover identifies entry and exit points.
RenkoSwing Strategy Expert and Template Installation
- Unpack the archive with templates and indicators.
- Copy the expert to MQL4 -> experts folder.
- Copy the template to templates folder.
- Restart the terminal.
- Open the chart of the desired currency pair.
- Switch to M1 timeframe.
- Enable “Auto-trading” mode.
- Attach RenkoLiveChart_v3.2 expert to the chart (a happy face should appear in the top right corner). Leave expert parameters at default.
- Go to File -> Open Offline and select the chart created by the expert for M2 timeframe.
- Apply the RenkoSwing template.
Шаблон торговой стратегии RenkoSwing
Buy Signals
To open a Buy trade, wait for these signals:
- Price is above the red moving average.
- Blue Stochastic line exits the oversold zone.
- Purple moving average crosses green one from below upward.
- ADR indicator shows highest possible value (threshold level adjusted individually for each pair).
- Stop-loss placed below nearest local low.
Пример длинной сделки
Sell Signals
For Sell trades, indicators must show:
- Price is below the red moving average.
- Blue Stochastic line exits the overbought zone.
- Purple moving average crosses green one from above downward.
- ADR indicator shows highest possible value.
- Stop-loss placed above nearest local high.
Пример короткой сделки
Key Takeaways
Renko charts smooth price noise, though this indicator combination and entry rules work on standard charts too.
The strategy uses a solid, standard set of indicators for entry signals and filtering. Simplicity does not mean low effectiveness, as advanced indicators build on these basics like trend tools and oscillators.
RenkoSwing offers flexibility for customization with optimized indicator versions or trader-preferred alternatives to boost performance.
The main drawback is the need to adjust ADR threshold levels individually per currency pair, which may challenge beginners without forex experience.
Download templates and indicators
FAQ
What timeframe does RenkoSwing use?
Renko charts built from M2 timeframe data, ideal for scalping swings while filtering noise.
How do you set stop-loss in RenkoSwing?
Place buy stop-loss below nearest local low; sell stop-loss above nearest local high, risking 2-5% of deposit.
Can beginners use RenkoSwing?
Yes, it uses simple standard indicators with straightforward rules, though ADR thresholds need pair-specific tuning.
