Free Forex Systems (MT4), Trend Following Systems

Median Renko System

Median Renko System demonstrates a complete trend-oriented trading strategy, able to identify the market momentum, trade signals, and exits altogether. Besides, it offers a less complicated trading method that can be mastered by traders with any level of experience.

Median Renko System adjusts with all sort of timeframe charts within the MT4 terminal. Moreover, this system can be applied to trade all kinds of forex currency pairs around the financial markets.

Median Renko System Overview

Download and install the system to the MT4 platform. Once you’re done, your chart will appear like the following image:

Median Renko System Overview

Median Renko System Explanation

Median Renko System Explanation
  • MA2SignalV2: A combination of 5 short-period MAs that detects possible swinging areas of the market. It plots arrow signals around the price bars. However, it produces frequent trade signals which must be matched with the signals from other indicators of the system for better results.
  • 30 MA: It is a smoothed 30-day period Moving Average with multiple levels around the main trendline. These levels are applied as support and resistance for your market entry and can be treated as trailing stops until trade exits.
  • iTMA V1: iTMA V1 is the latest update of its original version. It applies a fast high-low method in order to signal for the market trends with less lagging issues. This tool has been added as a trend filtering indicator to this system.

Also Read: Exness Review

Median System: Buy Conditions

Median Renko Buy Parameters
  • MA2SignalV2 plots uppish arrow below the price candle.
  • Price breaks above the 30 MA level.
  • iTWMA V1 shows a positive value.
  • Set stop loss below the current multiple levels of 30 MA.
  • Exit long/take profit when MA2SignalV2 plots arrows pointing downwards with a negative iTWMA value.

Median System: Sell Conditions

Median Renko Sell Parameters
  • MA2SignalV2 plots downward arrow above the price candle.
  • Price breaks below the 30 MA level.
  • iTWMA V1 shows a negative value.
  • Set stop loss above the current multiple levels of 30 MA.
  • Exit short/take profit when MA2SignalV2 plots arrows pointing upwards with a positive iTWMA value.
Share on:

I have been actively trading the financial markets since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund that has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

Leave a Comment

About Trend Following System

Trend Following System's goal is to share as many Forex trading systems, strategies as possible to the retail traders so that you can make real money.

Risk Warning: Trading in the forex market is very risky. Thus, it is may not be for everyone. A highly leveraged position can work against the trader when the trade does not work as expected. Trading in the forex market can cause to lose a significant portion of the capital or all of the capital. It is crucial to learn about the trading and gain enough experience in the demo account before trading with real money. The trading strategies published on this website do not guarantee profit as the market is dynamic and unpredictable. The past performance of a strategy is not the indicative of future performance. Trend Following System will not accept any kind of liability or damage caused by trading the strategies published on this website.