RENKO CHARTS MOVING AVERAGE CROSSOVER EA

RENKO CHARTS

INDICATORS:

SPECIAL MOVING AVERAGE 1 (MA1) (PROVIDED) BIGGER  VALUE

SPECIAL MOVING AVERAGE 2 (MA2) (PROVIDED) SMALLER VALUE

 MA 1 ACTS AS A FILTER: ABOVE IT ONLY LONG TRADES, BELOW IT ONLY SHORTS TRADES.

INITIAL TRADES:

INITIAL ENTRY LONG:

MA2 CROSSES ABOVE MA1 AND A UP RENKO BRICK CLOSES ABOVE BOTH MAs (50% OR MORE OF THE BRICK BODY MUST BE ABOVE)

 EA GOES LONG 2 LOTS

TP1: XX (INPUT) RENKO BARS

TP2:  2 OPTIONS:

OPTION 1) TP XX (INPUT) RENKO BARS

OPTION 2) TP OPEN, TRADE CLOSES WHEN A BRICK IN CONTRARY DIRECTION IS CLOSED

INITIAL ENTRY SHORT:

MA2 CROSSES BELOW MA1 AND A DOWN RENKO BRICK CLOSES BELOW BOTH MAs (50% OR MORE OF THE BRICK BODY MUST BE BELOW)

EA GOES SHORT 2 LOTS

TP1: XX (INPUT) RENKO BARS

TP2:  2 OPTIONS:

OPTION 1) TP XX (INPUT) RENKO BARS

OPTION 2) TP OPEN, TRADE CLOSES WHEN A BRICK IN CONTRARY DIRECTION IS CLOSED

FOLLOWING TRADES IN THE SAME DIRECTION (SAME POSITION REGARDING MA1):

 
NO MA CROSS NEEDED.

LONG

EA MUST GO LONG AFTER AN UP BRICK CLOSES IF BRICKS ARE ABOVE MA1

SHORT

EA MUST GO SHORT AFTER A DOWN BRICK CLOSES IF BRICKS ARE BELOW MA 1

 STOP LOSSES

 SL1: WHEN A BRICK  IN CONTRARY DIRECTION IS CLOSED

 WHEN TP1 IS REACHED A TRAILING STOP OF XX PIPS(INPUT)  (NO RENKO BARS) IS ALSO RELEASED

FILTER FOR REENTRY:

NO REENTRY FOLLOWING TRADES) AFTER + XX PIPS IN THE SAME DIRECTION