Renko bricks filter noise by only printing when price moves a fixed amount. Trade color changes with trend confirmation for clean entries.
Indicators Used
Renko ChartEMA 10 (on Renko)Stochastic (5,3,3)
Rules
📈 Long Entry
- Two consecutive green Renko bricks after a red sequence
- Price above EMA 10 on the Renko chart
- Stochastic crossing up from oversold (<20)
- Stop Loss: Below the last red brick
📉 Exit Rules
- First red brick after 5+ green bricks
- Or price closes below Renko EMA 10
- Or stochastic reaches overbought (>80) and turns down
💡 Pro Tip
Set your Renko brick size to the 14-period ATR on the daily chart. This dynamically adjusts to current volatility.