Renko Reversal System MT4

Description

Overview

The Renko Reversal System MT4 is a powerful indicator designed to identify trend reversals using Renko charts. Renko charts emphasize significant price movements, filtering out noise and providing a unique perspective on market dynamics.

Key Features

1. Clear Buy and Sell Signals: The indicator generates precise entry and exit signals, making it easier for traders to act decisively.
2. Statistical Analysis: It calculates net points gained from signals, considering the pair’s spread, providing an accurate performance evaluation.
3. Works Across Symbols and Time Frames: Suitable for all symbols, indices, and time frames.
4. Filter Customization: Allows traders to fine-tune their strategies by adjusting filters.
5. Stability and Consistency: Never repaints, backpaints, or recalculates signals.

Strategy

The Renko Reversal System MT4 focuses on trend reversals. Here’s how it works:

1. Renko Chart Creation:
   • Ensure you have sufficient 1-minute historical data to create a robust Renko chart.
   • Create your Renko chart by configuring the brick size.
   • Add the Renko Full Throttle PRO Indicator to your Renko chart.
2. Indicator Parameters:
   • BarsBack: Specify the number of historical bars for analysis.
   • Renko Strong Filter: Enable this filter to distinguish between noisy and trending markets.
   • Strong Filter Pips: Set the number of pips for effective filtration.
   • Renko Pattern Filter: Activate this filter to identify specific Renko patterns supporting trends.
   • Pattern Filter Percent: Adjust the filtration level for Renko patterns.
   • Pattern Pips: Define the minimum pip requirement for valid patterns.
3. Signal Generation:
   • The indicator strictly operates on the “Close of the bar.”
   • Buy Signal: When the indicator detects a bullish reversal pattern, consider entering a long position.
   • Sell Signal: When the indicator identifies a bearish reversal pattern, consider shorting the market.

Minimum Deposit and Currency Pairs

• Minimum Deposit: There is no specific minimum deposit requirement for using the indicator. However, it’s advisable to allocate sufficient capital to manage risk effectively.
• Time Frame: The Renko Reversal System MT4 works optimally on the M1 (1-minute) time frame.
• Currency Pairs: While it can be used with any currency pair, avoid XAUUSD (Gold) due to its unique characteristics. Consider other major pairs or crosses.

 

Telegram Channel and Download

• Join our Telegram channel: YoForexRobot for real-time updates, trade signals, and community discussions.
• Instant Download : https://yoforex.org/product/renko-reversal-system-mt4-2/
• To download, visit our website: YoForex.

[Remember that automated trading carries inherent risks, and it’s essential to thoroughly test any EA on a demo account before deploying it in a live trading environment. Always stay informed and adapt your strategy as market conditions]

😊HAPPY TRADING😊