Get Up to 35% OFF Get a MEGA-discount!!RobotsIndicators * Limited time only.

How to trade on Renko charts

How to trade on Renko charts

Installing the Renko Trend Racer system in the trading platform

So, after purchasing this trading system, we will send to your email all the indicator files, a utility for automatic tracking of orders and a script for paging history. After that, all you need to do is unpack the resulting archive and copy its contents to your Metatrader 4 platform. This is done as follows:

Open the MT4 platform data directory and copy the contents of the Renko Trend Racer archive there:

Make a restart of your trading platform:

Subscribe and get high!

Earn more with RoboSystems.eu
Telegram Channel
Facebook Group

Creating a Renko Chart

Open any currency pair from which you want to create a Renko Chart.
We recommend using the XAUUSD asset (gold). This asset has high volatility. Thus, you will be able to receive a large number of signals.

Set the quote chart to the M1 timeframe: 

Open the navigator tab and drag the “Download all history” script to the quote chart. This script will automatically download the entire history of quotes (from all timeframes) of the asset selected for trading. The process of downloading the history will take you about 3 minutes.

After the script window disappears, find the Renko Racer Utility in the “Expert Advisors” section and drag it to the quote chart:

Set the Renko Chart timeframe, namely M4, in the manual settings of the utility and press the button “OK”:

 

After that, a system window will appear, which shows that the utility has started working and created a RENKO chart for you:

Open the “File” tab and select “Open Offline”: 

Find the name XAUUSD M4 in the list and double-click on this name with the left mouse button. Immediately after that, you will open the created Renko Chart:

Subscribe and get high!

Earn more with RoboSystems.eu
Telegram Channel
Facebook Group

Renko Trend Racer Trading System Template

Click on the “Templates” tab and select the “RENKO TREND RACER” template”

Immediately after that, you will open a chart of RENKO M4 quotes, on which you will trade in the future using the RENKO TREND RACER system.

ATTENTION – you should not close the window on which the RANKO RACER UTILITY is running. This utility should work continuously. It transforms online regular asset quotes into RENKO CHART quotes.

After that, your quote chart will become like this:

Now you can receive trading signals, make deals and earn profit. How to do it correctly – read below.

How to trade?

So, after some time after installing the system template on Renko Chart, you will receive your first trading signal. 

This will be an arrow in the appropriate direction, which will indicate the direction of trade. After that, you need to:

Set the lot size and click the trade button that corresponds to the direction of the received signal:

The Take Profit level is the middle line of the price channel or the extreme line of the price channel in the direction of the trade (depending on the location of your signal level)
The Stop Loss level is the opposite border of the price channel (against the direction of the signal).

If you use the utility, it will close your trades automatically when the quotes reach the Take Profit or Stop Loss level.
You can also set the Stop Loss and Take Profit levels manually. However, given that over time, the borders and the central one will shift following the movement of quotations. Thus, if you want to follow orders without the utility, you will have to move the Stop Loss and Take Profit levels after the price channel levels.
If you use the utility, it will perform all the above actions automatically.
That is , you open trades in accordance with the received signals, and the utility will automatically close them. 

If you follow the trading recommendations correctly, your profitability chart will look something like this. These are the trading results we received during the independent trading on the signals of the RENKO TREND RACER system.

So, if you have not yet bought the RENKO TREND SCALPER system, then it’s time to do it! You can get your first signal and trade profit today!

The ideal system for profitable trading is the RENKO TREND RACER. Buy and make money right now!

Full package
*Unlimited number of accounts with the user name
€ 125
  • Full set of indicators of this system
  • Utility for automatic tracking of orders
  • Detailed manual for setting up
  • Technical support
Buy Now
Economy package
**One trading account
€ 99
  • Full set of indicators of this system
  • Utility for automatic tracking of orders
  • Detailed manual for setting up
  • Technical support
Buy Now

RENKO
main page

*Unlimited number of accounts with the username – the product will work on any number of accounts that are opened personally by the buyer (the product is linked to the buyer’s name).

**One trading account – the product will work only on 1 trading account, the number of which the buyer informs us to obtain a license to use the product (the product is linked to the account number).

We accept payments via:

Subscribe and get high!

Earn more with RoboSystems.eu
Telegram Channel
Facebook Group

Share this post