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Sunday, 03 July 2022
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ag-renko-chart-buy-sell-indicator
ag-renko-chart-buy-sell-indicator

ag-renko-chart-buy-sell-indicator

Watch the testing video here:

AG Renko Chart Buy Sell Indicator

 

The AG Renko Chart Buy Sell Indicator is a simple, but effective forex trading tool that provides Renko based buy and sell signals on the activity chart. That forex indicator plots a blue/red line – its color depends on the trade direction. It definitely helps in reducing market noise.

The AG Renko Chart Buy Sell Indicator fits all kinds of timeframes and currency pairs. It is displayed directly on the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.

How does it work? How to apply in trading?

Trading Rules Explanation

The core of the AG Renko Chart Buy Sell Indicator is a signal line. A blue colored line indicates the trend is bullish and traders should look for buy trade opportunities. Similarly, a red colored line reflects the bearish trend and traders should look for sell trade opportunities.

Buy Signal

Follow these steps for a long trade:

  • Color of the AG Renko signal line changes from red to blue
  • Price is above the AG Renko signal line
  • Buy trade is triggered after the above conditions are met
  • Set stop loss a few pips below the last red line of the AG Renko
  • Take profit or exit trade whenever R:R ratio exceeds 1:1 or use your own method of trade exit

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