The Median line is known and proven to be a versatile tool when it comes to trading with price action. One of the distinctive advantages of applying Median line (also known as Andrews Pitchfork) tool price charts is the fact that it comes with a strict set of criteria.
In the previous trading strategies, most of the divergence based trade set ups were primarily using either the Stochastics or the RSI indicator. While divergence is common across any oscillator that you use, there is a certain element of risk involved when it comes to using the regular oscillators.
Looking for a simple trading system based on Renko charts? This Median Renko engulfing bar strategy offers just that. For the trader who doesn’t want to bother looking at trends and merely wants consistency in their trading, the Median Renko engulfing bar strategy offers a very good risk/reward set up while also maximizing your profits at the same time.
The Renko trend and timing strategy is a very simple trading method that uses two of the most simplest indicators and merely follows the trend. The strategy, simple as it may seem offers tremendous opportunities for traders to make a healthy profit. Read to learn more about this Renko trend and timing strategy.
Applying the well known Bollinger Squeeze to Keltner channels, commonly known as Squeeze Play, this commonly found strategy is applied to Renko charts. Read to learn more about trading Renko squeeze play strategy
The Renko MMA or momentum and moving average trading strategy is a robust yet simple trend following renko trading strategy. Read to learn more on how to use this renko trading system that offers a great Risk/Reward ratio.
The Renko, Donchian channel trading strategy is a simple break out based trend following strategy that offers a very good risk reward. The main element of this trading strategy however is being disciplined, which is where most of the traders fail. However, with good practice and self discipline, this simple system is sure to make you some good profits.
The RSI Swing failure strategy is one of the simplest of trading strategies, which when applied correctly can offer great profits. Traders with discipline and patience will find this method to be extremely rewarding when applied to the Renko charts. Read more about the RSI swing failure trading strategy with Renko charts.
Renko charts can offer a great way for traders to identify trends in the market due to their smooth plotting of price. Likewise, the ADX or Average Directional movement index or Average directional index is an oscillator that is used to identify trends as well.
Double Tops and Double Bottom Renko chart patterns are perhaps one of the easiest of price action patterns to trade due to their simplicity without much of objectivity involved. However, not all Double Tops and Double Bottom patterns on Renko charts tend to be valid.