Hello Good People,
I am here to share my own And Simple Renko Strategy which is so far good.You don,t need any indicator for that you can trade manually.But if anyone can help us to create an EA Would be Great because sometimes market move so fast for news event or high volatility and we can,t trade in right price.EA Can do that easily. I am getting good result.Last 86 Trade win out of 100 trades on USD/JPY with 5 Pip Candlestick(See It yourself).You need to use 1 min timeframe on renko because other timeframe will recalculate for renko.Risk Reward ratio 1:1.If you get 60% that will make you money too.Just Like binary option out lot size will be based on balance and pips we are risking.I suggest you to risk 5 % of your balance .Use will use 5 pip sl and 5 Pip tp (For broker spread and commission you will get 80-90%) if you trade $1 per pip after 5 pip you may get $4 and for loss it will be $5. but it will make you money with this very simple strategy.
Buy Rule : Last 2 Bar is Red and 3rd bar is blue : then it should purchase buy for 1 candle(I use 5 pip candle) SL 5 PIP AND TP 5 PIP
Sell Rule :Last 2 Bar is Green and 3rd bar is Red: then it should purchase Sell for 1 candle(I use 5 pip candle) SL 5 PIP AND TP 5 PIP
Please Someone Make an EA For us .Please make sure to add sl tp menu and lot size option.
Note : I have an indicator too that will show on the current candle entry price.Check the attachment