STRATEGY NAME – The Rockin’ Renko
FOR USE ON – NADEX & FOREX
FILE PACK TO DOWNLOAD – CLICK HERE TO ACCESS
EXPERT ADVISOR FOR THIS STRATEGY? – YES – CLICK HERE TO ACCESS
OTHER – You can use median renkos or you can use the live renkos provided by Slick Trade LLC
VIDEOS – password is slicktrade for all
Rockin Renko Strategy
Nadex Entry and Exit Using the Rockin Renko
Rockin Renko – Explained in detail and Krystals favorite entries using it
Best Entries for Rockin Renko Strategy
RULES –
Buy Entry –
- Renko bar green and above the Hull Moving Average 200
- Hull Moving Average Buy
- TrendLord Green or has reached Purple Exhaustion
- Semafor Star or Dot painted previously
Buy Exit –
Exit 1 – purple renko
Exit 2 – my favorite – Exit based on hull moving average 14 showing sell (purple)
Exit 3 – most profitable – Exit based on on previous support/resistance level reached
Sell Entry and Exit Opposite of Buy Entry and Exit Rules
For Nadex Only Users:
If you only trade Nadex, you can also use this strategy by entering an ATM, OTM or low risk spread in the direction displaying.
BUY Example
- Renko bar green and above the Hull Moving Average 200
- Hull Moving Average Buy
- TrendLord Green or has reached Purple Exhaustion
- Semafor Star or Dot painted previously
- Switch over to the Nadex platform and choose a time frame that is a few hours out. Example: The trade sets up at 6am, so look at 11am expiries on Nadex.
- Look for an ATM, OTM or spread available trade on the Nadex platform and set a $10-$25/contract TP amount.
- ATM = around $50 risk per contract with a TP of $10-$25/contract.
- Example Buy – You enter a Buy @ $50/contract – set your TP @ $60-$75/contract.
- Example Sell – You enter a Sell @ $50/contract – set your TP @ $40-$25/contract.
- OTM = around $20-$30 risk per contract with a TP of $10-$25/contract.
- Example Buy – You enter a Buy @$20/contract – set your TP @ $30-$45/contract.
- Example Sell – You enter a Sell @$80/contract – set your TP @ $70-$55/contract.
- ATM = around $50 risk per contract with a TP of $10-$25/contract.
- Exit the trade as soon as your exit preference is reached
- By exiting as soon as the opposite direction shows, you are minimizing loss. Re-enter as soon as the setup occurs again, that’s it!
Median Rockin Renko Strategy – Forex and Nadex Strategy
- Download the files
- Open your MT4 platform
- Go to File > Open Data Folder > MQL4 > Indicators
- Copy the two .ex4 indicator files into the folder
- Go back to the main Data folder and open the templates folder
- Copy the SLICKTRADE_ROCKIN_RENKO.tpl template file into the folder
- Close MT4
- Download the Median Renko Bars – Then scroll down to Median Renko Plugin for MT4
- How to open a chart and get going!
- Choose New Chart
- Select your forex pair, commodity or indice
- Switch to 1 minute timeframe
- Drag the Renko Median Indicator from the Navigator, over to your new chart
- Change the candle body size in pips to 15 for forex pairs and 20 for indices
- Change the Retracement factor to .2
- After initializing is complete, choose File > Open Offline > Select the same chart for M3
- After the chart for M3 opens, Right Click > template > SLICKTRADE_ROCKIN_RENKO
Indicators –
Median Renko Bars – M3 offline chart
Semafor
KG Support/Resistance Lines
TrendLord (60)
ZigZag Arrows
hull moving average (30)
Buy Entry –
Median Renko Bar Green
ZigZag Arrow Green
Hull Moving Average Green
TrendLord Green or has reached Purple Exhaustion
Semafor Star or Dot painted previously
Buy Exit –
Median Renko Bar Purple or Previous Support Level Reached
Sell Entry and Exit Opposite of Buy Entry and Exit Rules
TRADITIONAL ROCKIN RENKO STRATEGY
Rules for Forex Entry and Exit:
- Watch for the 7 and 14 moving averages to cross (blue and purple)
- Look at the 100 moving average (green) overall trend…does it match the direction of the 7 and 14?
- Is the FerruFX indicator showing the same trend direction?
- Has the Stochastic indicator crossed toward the same direction?
- Is the Median Renko bar showing the same trend direction color?
- For added security, is there a dot or Sun showing the same direction? (optional)
- Take the trade in the direction the trend is displaying after the above rules are met.
- Exit the trade as soon as a Renko bar forms that indicates the opposite direction
- Example – you were in a Buy position, you would exit as soon as a purple renko bar forms
- By exiting as soon as the opposite direction shows, you are minimizing loss. Renter as soon as the setup occurs again, that’s it!
Rules for Nadex Entry and Exit:
- Watch for the 7 and 14 moving averages to cross (blue and purple)
- Look at the 100 moving average (green) overall trend…does it match the direction of the 7 and 14?
- Is the FerruFX indicator showing the same trend direction?
- Has the Stochastic indicator crossed toward the same direction?
- Is the Median Renko bar showing the same trend direction color?
- For added security, is there a dot or Sun showing the same direction? (optional)
- Switch over to the Nadex platform and choose a time frame that is a few hours out. Example: The trade sets up at 6am, so look at 11am expiries on Nadex.
- Look for an ATM or OTM available trade on the Nadex platform and set a $10-$25/contract TP amount.
- ATM = around $50 risk per contract with a TP of $10-$25/contract.
- Example Buy – You enter a Buy @ $50/contract – set your TP @ $60-$75/contract.
- Example Sell – You enter a Sell @ $50/contract – set your TP @ $40-$25/contract.
- OTM = around $20-$30 risk per contract with a TP of $10-$25/contract.
- Example Buy – You enter a Buy @$20/contract – set your TP @ $30-$45/contract.
- Example Sell – You enter a Sell @$80/contract – set your TP @ $70-$55/contract.
- ATM = around $50 risk per contract with a TP of $10-$25/contract.
- Exit the trade as soon as a Renko bar forms that indicates the opposite direction
- Example – you were in a Buy position, you would exit as soon as a purple renko bar forms
- By exiting as soon as the opposite direction shows, you are minimizing loss. Re-enter as soon as the setup occurs again, that’s it!