Buy Forex CFD Trader – Renko Enhanced

Hi,

This tool looks powerful.
I hope we will find the 6th member very soon

See you soon,
Yarvua

 

From what I have seen, Aut0sc@ler is offered as a bonus.
If it is still the case I hope we will have updates for this tool which seems very effective too

 

Hi,

That's it, we are 6.
That's great !

I can't wait to test this tool after reading its sales page.



See you soon,
Yarvua

 

Hi,

Latecomers, we need you here, please

See you soon...

 

Hi guys,

Please be kind enough to think about the payment as requested by the admins


Because those who have already paid are eager to receive the product

See you soon,
Yarvua

 

When I click on the website link, it loads the error msg " The site cannot be reached." There are many websites dealing with Forex indicators & EAs (some of them only last a few days and go out of business or are taken down). Is the product already bought or is there a way of getting it for the same price or better? Thanks!

 

Hi,

I think the admins will buy it from a reseller.

 

Come on guys !

Another new member who adds to the list and
pays immediately and that's it, we will have access
to this product very quickly

 

I will join you. I have already requested Mr. Goodmen to have my participation fee paid (from my existing credit balance), and hope the product can be purchased if all who paid are moved to the main list. Thank you

 

Seller website down, how to learn more details about this product.

 

What is the end product? Is it a PDF?

 

My opinion Overall : Excellent Buy (If you know Renko and also trade indices)

Hope this answers your questions. I just got this an hr ago - so my review is only to answer some questions you may have.
No - It includes Templates, Indicators, and Experts with the Documentation - You get the Renko Enhanced EA is not a trading EA (just a program to create your Renko chart from the M1).


The Bonuses include : (1) Read it here: https://forexautoscaler.com/ (the EA auto trades & adds trades per your settings, if the trade is moving in your direction - so you can start with an initial small lot like 0.1). This is worth a lot although I have not yet tested it.
(2) FX Journal PDF (said to be $ 29 value - you can record trades - it is a template so you can see why you went wrong or why trades worked out for your learning)
(3) DFG - guess it is Dynamic Fib Grid but have not tested it yet.

The setup is a little time consuming (about 10 mins) just to read through if you are familiar with Renko charts.

I will give you how the plain Renko Enhanced chart (Renko is price action only without time once you decide on brick size). You should load a M1 (one minute chart) and then load the Renko Enhanced EA on the chart. You cannot add support/resistance lines but the colors of the lines will show you when it reverses. Then, follow a few steps to load the M2 chart of Renko Enhanced. You should also be familiar with Indices trading (Contract For Difference or CFDs) to set the box size and there is some documentation to help.



You can enhance the above chart a bit like I did below. I am using FTMO Demo Acct to test this. Just added Lucky Reversal Indicator which repaints but puts the arrows at tops or bottoms of ranges, and Auto Fib (Caution: Don't ever close the M1 chart for the instrument or your offline Renko chart won't load or upate).

 

@MKV Excellent thank you very much for your effort. I am going to give it a try. Is it only EA or I can do manual trading with it?

 

Since there are multiple EAs - I don't exactly know what you are referring to.

(1) The EA called Renko Enhanced is only to draw the Renko chart - It is not an EA that will trade for you or even a semi-automatic EA which suggests a Buy or Sell. However, during the time of high volatility, (such as the opening hour of New York Session for say US 30 or NAS 100 or about one hour towards close of session, or when the day is a trending day when the index price is moving in one direction for hundreds of pips - The tops and bottoms can be clearly seen. In choppy mkts, you could have quick reversal after 4 to bricks. Given the spreads (talking of say FTMO - during regular hours the spread if 110 to 140 but can widen to 440 - that is if you buy one standard lot - you are out that amount in $). In index trading, if you set your stop losses tight, chances are you lose money unless you are very precise in when it reverses.

In Renko charts, if say a brick is 10 pips for an instrument, you wait till the second or third brick (shown by the bricks of that color) to make sure it is establishing a new trend and not just a little bit of a pull back, If you enter as soon as the bricks change color (direction) you could be whipped out of a trade.

So, you still have to look for other charts to identify the stronger support or resistances.


(2) The other EA I mentioned in the post above was the Forex Auto Scaler EA. If you are familiar with Pyramid stacking of trades, that will help you in its use. Stacking of trades is basically a technique of buying a very small lot (Since every prop firm gives you very low leverage for trading indices or margin is high. FTMO on a 1:100 leverage acct for Forex currency pairs will drop this to 1:50 for trading metals like Gold or Silver, or indices (US30.cash, or US100.cash or SP500.cash)

With this EA loaded on another chart of the same instrument, the trader has to take a manual trade first. If the trade is going in your direction and the EA (based on your settings on how many trades you want it to take and what size of grid you have set) - will take trades. For example: My grid size is 50 pips. I initiate a small trade of say 0.1 lot (a mini lot on say an account of 50K or 100K or above) and set that it takes 3 to 10 Max trades in your direction - every time it goes 50 pips in your direction.

Consider this situation: A trader takes 1 lot when he or she thinks the mkt is reversing. With the spread (between Ask and Bid), one is in a drawdown of anywhere between $ 110 to 440 once you enter the trade. So, if it goes a few pips against - one could be looking at a thousand dollars or more. One needs to be a Market Wizard or extremely accurate technician to make profits without big losses.
Instead with this EA, one starts off with 0.1 lot - then, if it moves in the trade's direction, after certain number of pips, it adds another 0.1 lot. If your grid size is say $ 50 move in your direction, the first trade is profitable by $ 50 when it buys a second trade. Then, when trade moves to $ 100 profit, EA opens a third trade (by which time the first trade is making $ 100, second trade if making $ 50; and if the third trade continues in the same trend strongly a fourth trade if taken by the EA, There are settings to move the settings to break even or better on previous trades. When the last trade reverses and you get stopped out, the other trades would probably be profitable thus protecting downside.