MT4 Renko Indicator and How It Works

• There is no doubt that Renko charts offer forex traders a competitive advantage than those who don't.

• Mt4 Renko chart offers alerts for traders to enter the market when a trend starts and exit when the same trend starts to collapse. This is not the case for forex traders who use the standard candlestick chart in Metatrader 4.

• Even if Renko charts offer these benefits, it doesn‘t mean forex traders using them don’t lose a trade. It‘s always beneficial when you have the best technical analysis so that a trader raises his chances of winning in forex trading.

• Mt4 Renko indicator offers a number of advantages such as a ‘cleaner’ looking chart, increase probability of a winning trade and knowing where to place the trade stop loss

and many more.

• Renko is even better than time based bars used in forex trading but does not have the highest and lowest price which is important in forex trading.

• Forex traders who have used mt4 Renko indicator for their trades have appreciated it because it has actually made technical analysis simpler for them. The Renko indicator helps pinpoint trades that lead to higher chances of winning.

• It‘s even better than any of the traditional charting methods that are available out there. But it should be known there is nothing in the name of Holy Grail trading techniques in the forex market as there are instances where losses are inevitable.

• The best way to trade forex is finding a method that will give you some information about the direction the market is taking.

• You will discover that forex trading is just one of the many zero sum games available out there and for every ten dollars you earn, someone is losing the same amount. That trader who has lost a trade could be a huge multinational or just a small trader.

• This doesn‘t matter in most cases, what’s important is that someone won while another lost. The true benefit of mt4 Renko indicator is that it makes it possible a trader to be the enjoying more winning trades over losing trades.

• There is nothing wrong with losing in forex trading. It is through losing that a trader gets the burning desire to discover more ways to make them become better at trading.

• The main key to winning is ensuring your losses are limited to the minimal during the losing days and allowing the winning trades to go as far as it can be during winning days.

• At the end of it all, the pip gains will have been maximized.

Keeping your Losses to the Minimum with MT4 Renko Indicator

• One method to keep your losses at the bare minimum when trading using mt4 Renko indicator is by sticking to the three renko brick reversal rule. This rule implies that a trader enters a forex trade and exits as soon as the 3 opposite renko brick formed.

But in-case the trader is using a greater size renko brick, the final result will be that the average trade duration will be longer for trades to developed, giving the market enough time for it to prove itself in moving towards the intended direction. Losses will be stopped as soon as the 3 renko brick formation is formed.

• Forex traders who wish to use mt4 renko indicator can visit the url below to download a free renko chart. The free chart indicator comes with installation manual and an online ticketing helpdesk.

http://www.ForexChartistry.com/mt4renkoindicator

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