Forex strategy Takaramono (Renko)

The Takaramono Forex Strategy is based on the Renko chart

you can find out how to get it in the MT4 terminal At The Following Link➜

and trading on it involves a constant presence at the terminal, so how difficult it is to tell from a Renko chart when a particular brick will be formed. That is, it is suitable for active traders who earn only by trading and can afford to constantly monitor the situation.

Statistics:

We failed to test this strategy for a long period due to the specificity of displaying the Renko chart in the MT4 terminal, but according to the author, this strategy can earn an average of about 150-200 points per month. From February 16, 2015 to April 20 of the same year, we still managed to test and get confirmation of the author’s words, the profit was about 450 points. The maximum drawdown is 80 points.

• Currency pair — USD / JPY, other pairs were not even checked by the author. It is quite possible that the strategy shows a positive result there.
• Time Frame – The Renko chart has no time division. The brick size is 10 points (four digits).

Indicators:

• Exponential moving average with a period of 7 (EMA7).
• SmC4Scalper Candles_v3.1 — default settings.
• QQE ADV with parameters 2;11;2. You also need to add levels 48 and 52 to this indicator.

You can download all these indicators at the end of the strategy. To facilitate the process of setting up a chart, you can use a ready-made template, which can also be downloaded at the end of this article.

Conditions for concluding BUY transactions using the Takaramono (Renko) strategy:

1) Another brick crosses EMA7 from bottom to top and closes above it.

2) We are waiting for the appearance of a brick, painted green, while the price should still be above the EMA (this may also be the brick of the EMA crossing).

3) If the above conditions are met, then only pay attention to the QQE ADV indicator. Its signal line should be below the main line (dashed line below the blue one), and the main line, in turn, should be above level 48.

4) At the opening of the next brick, we open a deal to buy.

5) Stop-loss — 20 points (the size of two bricks, points by 4 signs)

6) Take profit — 100 points.

7) We close the deal as soon as the signal line of the QQE ADV indicator goes above the main one. Most transactions are closed under this condition.

Conditions for entering into SELL trades — Takaramono (Renko):

1) A brick crosses EMA7 from top to bottom and closes below it.

2) We are waiting for the appearance of a brick, which is colored red, while the price should still be below the EMA (this may also be the brick of the crossing of the moving average of the EMA).

3) If all the above conditions are met, then only pay attention to the QQE ADV indicator. Its signal line should be above the main line (the dotted line is above the blue one), and the main line, in turn, should be below level 52.

4) At the opening of the next brick, we open a deal to sell.

5) Stop loss is 20 pips (the size of two bricks).

6) Take profit — 100 points.

7) We close the deal at the moment when the signal line of the QQE ADV indicator falls below the main one.

Video Forex strategy Takaramono (Renko):

• Recommended to watch with English subtitles!

To this strategy you can download:

Original