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 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
- 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
- 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.