Renko Charts Techniques that can MAKE you MONEY in Trading – Day Trading Strategies

Published on May 25, 2022

Interesting reviews highly rated Best Forex Trading, Stock Market Trading, Currency Trading Training, Trading Strategies, and Stochastic Settings For Day Trading, Renko Charts Techniques that can MAKE you MONEY in Trading – Day Trading Strategies.

How to trade Renko Charts ? What are the best Renko Bar Trading Strategies / Techniques you can use to make money in Day Trading ?
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Can you make money in trading with the Renko Charts? If Renko charts are really that good, why do most professional traders don’t use them? To answer that question, I want you to look at these two trading charts, both charts are of the same stock, but one of them is a Renko chart, and the other one is a normal candlestick chart. Some people say that their trading guru, who has more than 40 years of experience in trading, uses and makes money with the Renko Charts. But if you look at the charts of some professional traders you know, you will most likely not find a Renko chart on their screens. They will probably stick with the normal candlestick or a bar chart, that’s because even though Renko charts look amazing on the past data, they can easily make you lose money in the live markets. Now I’m not saying they are bad, in fact, for some traders, they can be a jackpot. In this video, I’m going to show you what Renko Charts really are in the live markets, and the good way to use them.

What you are seeing on your screen are two live trading charts of a stock. On the right side, it’s the normal candlestick chart, but on the left side, it’s the Renko Chart, and as you can already tell, Renko Charts look very clean, and much easier to read than the candlestick chart. Now, the right side candlestick chart might be difficult to read because it is zoomed out too far, but there is a reason for that. You see, the reason Renko charts look very easy to read, is because they lack some of the price data. The renko bars are not exactly dependent on the  time. By that I mean, Renko Bars don’t have an expiry. A renko bar is built using the price movement, rather than both price and the timeframe. A new renko bar is only formed, when price moves a specific amount, and if price doesn’t move, a new renko bar won’t be formed, and the current renko bar won’t be closed.

Because of this, renko charts are very popular among beginner traders, as they can be used to identify the trend, and filter the range and noisy markets. In most cases, renko bar size is automatically calculated and set by the charting platform using the ATR values. But with the right renko settings, if the price gets noisy, no new renko bar will appear. But if you are a beginner trader, and have never seen renko charts before, Renko charts can be very misleading. For example, If you look at past data like this, and think that you could have made a lot of money with the Renko charts, by entering here and exiting when the bars changed their color, you would have made less money than what you think.
You see, renko bars are not always formed brick by brick, in other words, one after another. In many cases, multiple renko bars can appear at the same time. That’s because, a green renko bar only appears, if the price makes a move up, and the normal candle of that timeframe, actually closes after making a move above a specific price.

For example, if the renko bar size was 5 dollars, a new green bar will only appear if the price moves more than 5 dollars in the upward direction. But here’s a twist, even though renko bars have no expiration and stay at one place for a long time if the price doesn’t move anywhere, renko bars are still dependent on the timeframe you have selected. Like I said before, in simple words, renko bars depend on the closing price of the normal candles. Let’s say you have selected the 2 min time frame, so every normal candle is closing after every 2 mins. Because of this, if the renko bar size is 5 dollars, a new green bar can disappear, if the price makes a move up, but closes with less than 5 dollars move. The point is, even if the price movement looks really clean on the renko charts on the past data, you won’t always catch the entire move in the liive markets. Here’s a real example, where renko bars formed multiple same color candles in a row.

If the Renko chart for taking entries is not as good as the candlestick chart, what good is it then? Well…

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Stochastic Settings For Day Trading

Stochastic Settings For Day Trading, Renko Charts Techniques that can MAKE you MONEY in Trading – Day Trading Strategies.

Stochastic System – A Swing Trading Stochastics System For Huge Gains

Rule primary: Money management is of utmost importance if you remain in for a long duration of TF. However, when the price touches the upper band or the lower band, it in itself is not a trading signal.

Renko Charts Techniques that can MAKE you MONEY in Trading – Day Trading Strategies, Watch most searched updated videos related to Stochastic Settings For Day Trading.

Forex Trading – Striking And Holding The Huge Patterns For Massive Gains

The first point is the technique to be followed while the second pint is the trading time. Flatter the support and resistance, stronger will be your conviction that the variety is authentic.

When really all they require is to do a bit of research on the internet and build their own, today lots of traders purchase commodity trading systems and spent cash on pricey software.

I can keep in mind when I initially started to begin to trade the forex market. I was under the wrongful impression (like a great deal of other brand-new traders) that I had no choice. I was going to HAVE TO trade with signs if I was going to trade the market. So, like numerous others I begun to use Stochastic Trading.

Try to find divergences, it informs you that the price is going to reverse. If cost makes a brand-new high and at the very same time that the stochastic makes lower high. This is called a “bearish divergence”. The “bullish divergence” is when the rate makes a brand-new low while the stochastic makes greater low.

Keep in mind, you will never offer at the precise top because no one knows the marketplace for particular. You must keep your winning trades longer. Nevertheless, if your technical indications go versus you, and the patterns begin to stop working, that’s when you should offer your stock and take Stochastic Trading earnings.

Simpleness. A Forex Stochastic Trading system that succeeds is also simple. Get too complicated with too lots of guidelines, and you’ll merely be bogged down. Easy systems work much better than complicated ones do, and you’ll have a much better opportunity of success in the Forex market, in spite of its quick pace.

How do you draw trendlines? In an up pattern, link two lower highs with a line. That’s it! And in a downtrend, connect two greater lows with a straight line. Now, the slope of a trendline can tell you a lot about the strength of a trend. For example, a high trendline reveals severe bullish mindset of the purchasers.

In common with virtually all aspects of life practice is the key to getting all 4 components interacting. This is now much easier to achieve as many Forex websites have presentation accounts so you can practice without running the risk of any real cash. They are the nearest you can get to trading in real time with all the pressure of potential losses. However remember – practice makes best.

Likewise trade on the duration where major markets are open. Evaluating is a procedure and it is a good idea to check various tools throughout the years. In an up trend, link two lower highs with a line.

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