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Free Download Forex Renko Street Trading Scalping System

Improvised Forex Renko Street Trading Scalping System

Improvised Forex Renko Street Trading Scalping System is one of the best Trend Trading / Trend Scalping system.

This is a unique Renko Street Trading system in the sense that it addresses the twin issues: Taking an Order & then managing that order to close it successfuly with profit or close it with the least possible amount of Loss.

Currency Pairs: GBP/USD , EUR/USD , USDJPY, AUDUSD, GBPJPY and NZDJPY. Can work on other major pairs as well.
Time Frame: 30 Minutes (M30)
Indicators: Renko Street Channel (16), Currency Strength 28 Pairs, Bollinger Bands (48,2, Weighted On Close)

First, we will need to work out the nature of the market for the pair we are interested in trading. If, as per the Currency Strength 28 Pairs indicator the Currency Pair Strength is BELOW -2.5 or ABOVE +2.5. If the value is above +2.5 then we will only take Buy Trades.And if the value is below -2.5 then we will only need to take Sell Trades.

Buy Entry Rules For Improvised Renko Street Trading System

Condition 1: If Currency Pair strength is above +2.5 ( Currecny Strength > +2.5) then the pair is supposed to be trending upwards

Condition 2: RSI-Histogram is ABOVE 0.

Condition 3: Watch for the candle where the last RenkoStreet Circle Signal printed is Red and it is ABOVE Upper Bollinger Band. Then at the close of this confirmation candle we will drop a Buy Stop Order at the Level of that Red Dot Printed on the chart PLUS the spread of the pair.

Stop Loss: Set the Stop Loss for this Buy Order at the Red RenkoStreet Circle Signal (MINUS the spread of the pair) printed before the latest Red RenkoStreet Circle Signal printed on the chart. (Red1 > Red2)

Take Profit: Set Take Profit at 2 Times the size of the Stop Loss

Sell Entry Rules For Improvised Renko Street Trading System

Condition 1: If Currency Pair strength is BELOW -2.5 ( Curreny Strength < -2.5) then the pair is supposed to be trending Downwards

Condition 2: RSI-Histogram is BELOW 0.

Condition 3: Watch for the candle where the last RenkoStreet Circle Signal printed is Green and it is BELOW the Lower Bollinger Band. Then at the close of this confirmation candle we will drop a Sell Stop Order at the Level of that Red Dot Printed on the chart MINUS the spread of the pair.

Stop Loss: Set the Stop Loss for this Sell Order at the Green RenkoStreet Circle Signal (PLUS the spread of the pair) printed before the latest Green RenkoStreet Circle Signal printed on the chart. (Green1 < Green2)

Take Profit: Set Take Profit at 2 Times the size of the Stop Loss

This very simple but highly profitable scalping system is best suitable for London Session. And can also be successfully be applied during the New York Session as both of these sessions are deemed to be highly volatile in terms of directional volatility. Pairs ted to pick up a direction at the onset of the respective sessions and continue to maintain that direction till the end of the session. Trading during Asian Session is not recommended. You can also look at London DayBreak Strategy here.

This strategy can also be applied on 5-10 Pip Renko Charts and be traded successfully. But only during the London and New York Trading Sessions.

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