Most forex traders are familiar with candle charts. Candlestick cards were invented by Japanese rice merchants in the 16th century. Over the centuries, these maps have been perfected into an art form. But how about another Japanese invention, Renko maps?
Yes, Renko charts are another Japanese creation widely used in Forex trading, and many Forex traders may have never heard of these charts. These charts are based only on price, not time. On a regular candlestick chart or bar chart after a fixed time interval, you will find a new candlestick or ribbon, but not on the Renko chart.
Renko charts show a new brick only when the market is moving for a fixed increase. By the way, Renko is the Japanese word for brick. Now this brick can consist of any price increase like 1 pips, 5 pips, 10 pips or even more. However, it is always good to keep a small size brick. It may take a few minutes, it may take a few hours, or it may even take a few days for a new brick to form. However, these Renko charts are considered ideal for determining changes in micro sentiment in the market.
Renko Brick Forex Trading Strategy is a completely robust mechanical Forex trading strategy that can be easily mastered. Jide Ojo shows you how to master Renko charts and how to use this Renko Brick Forex trading strategy. It only takes a few minutes each day to check your store settings. This is a fully price-driven strategy that does not use any indicators. With this strategy you will become a FREE indicator. Jide Ojo will show you how to make Renko charts and from there will show you a simple forex strategy that will put you on the right side of the market most of the time.
It will only take you a few minutes to check the store settings. If you find a store setting with a high probability, set up pending orders and that’s it. You’re done. You can try Renko Brick Forex trading strategy Jide Ojo for FREE for 60 days on your demo account. Jide Ojo does not give you a 60-day money back guarantee. This is a simple renko trading strategy that you should first practice and master on your demo account. Once you start creating consistent winners on a demo account, test this strategy on a micro account for a week or two. After that, start trading live with it. Good luck!