Main indicators of Renko
- Analyst AZA
Main indicators of Renko, and leading strategies
Before we start using the Renko charts in the trading platform, we will need to install a special advisor (a tool that is used for situations of this kind) - the Renko Live Chart. This advisor is available and can be downloaded for free. When the tool is downloaded, we need to unpack the archive into the contents of the terminal data file. Stage number two is the restart of the platform: you need to restart the terminal, and then, when the restart was completed, you need to open the settings of the Expert Advisors. The settings can be accessed as follows: Go into the service, then go to the settings, and then select the advisors. In the window that was opened, checkboxes must be set, so that:- options for inclusion and authorization for the adviser to be traded;- it is necessary to allow the import of external experts; - Add DLL imports. Further, after setting the checkboxes (all), the phase begins when the chart of the instrument with which the trader will sell will open. The first and most basic: you need to set the time limits on M1. Mandatory condition: load the history of quotations of the instrument. It is easy to accomplish by entering the Service, then into the archive of quotations, then select the desired currency pair and download quotes. The next step is to add the EA to the schedule. Do not forget about the size of the bars: you need to enter it in units such as points. For the graph to be displayed correctly, we need to specify its autonomous work. To do this, go to File and select the desired function for the relevant currency tool and the desired period. After all these actions you successfully implement, you can observe the appearance of a chart similar to other familiar ones. On this chart, you can freely implement the usual actions, such as changing the scale and ending with the use of various functions (use different coloured elements). The trader, if desired, can change the schedule to your taste. For the chart to work properly with the Renko Live Chart advisor, it is extremely undesirable to close the original schedule, as all actions will have to be performed again. As for the basic tactics with the use of Renko schedules, in case you intend to use these graphics constantly, experts advise not to select any special schedules or advisers. Use familiar tactics or tools. Of course, you can make a profit by applying small secrets. For this, a trader can open new trading operations when the first bricks that are directed in the opposite direction appear on the chart. Closing the same deal is necessary, focusing on the bars: as soon as there are candles that return the trend in the opposite direction. The waiting time for a new pebble can be reduced by using a tool such as the RenkoTrend Change Alert + Arrow indicator. The main essence of the program is to notify the trader of the emergence of a new bar, different from the three past. This software works online, so for the analysis of information, it will not work. Graphs of this kind, the stock exchange's players can only use to make sure that there is a reversal of the trend, and there are no market noises. Their effective use can bring a guaranteed income to the player. This is an excellent helper for both a beginner and a more experienced trader.
As for the basic tactics with the use of Renko schedules, in case you intend to use these graphics constantly, experts advise not to select any special schedules or advisers. Use familiar tactics or tools.