Summary
:
Forex Reversal with Donchian Renko Chart
Strategy system that uses donchian bands and has 2 ways of trading, the
reversal and trending methods. You have the option on which method you want to
use.
Metatrader
Indicators :
- Moving average linear weighted 10 period
- Moving average linear weighted 21 period
- Profit loss indicator
- Range indicator
- Donchian bands 30 period (sienna)
- Donchian bands 60 period (purple)
- Donchian bands 90 period (teal)
- MACD alert (10, 30, 9)
Trading
Conditions
- Chart Timeframe : 1 Hour.
- Currency Pairs : Any pairs.
<<TREND
TRADING>>
Long
Position Entry :
1. The price must break up one of the Donchian
bands.
2. MACD must cross upward.
Short
Position Entry :
1. The price must break down one of the Donchian
bands.
2. MACD must cross downward.
Exit
Rules :
- Profit Option : Target profit depends on the timeframe or box size.
- Stop Loss Option 1 : at 5 pips.
- Stop Loss Option 2 : above or below EMA 21.
<<TRADE REVERSAL>>
Long
Position Entry :
1. The price broke the one of the lower Donchian
Bands.
2. The price must retrace above the MA.
3.
MACD must cross upward.
Short
Position Entry :
1. The price broke the one of the upper Donchian
Bands.
2. The price retrace below the MA.
3.
MACD must cross downward
Exit
Rules :
- Profit Option : at the Donchian Band.
- Stop Loss Option : Nothing
How to install Files?
- Download *.zip file.
- Copy Indicators folder to your Metatrader
Directory / indicators /
- Copy Template folder to your Metatrader
Directory / templates /
- Copy Libraries folder to your Metatrader
Directory / Libraries /
- Start or restart your Metatrader
- Select Chart and Timeframe where you want
to test your forex strategy
- Right click on your trading chart and hover
on “Template”
- Move right to select Template
- You will see Trading System strategy is
available on your Chart