Timeframe: Any
Recommend pair: Any pair
Indicator: Renko charting indicator, Moving Average
Platform: MT4, MT5, TradingView
Long trade setup
Entry
When the green bricks cross above the 10-day MA, it signifies a potential uptrend. Wait for the price action to continue in the upward direction and then enter.
Take-profit
Set TP at a recent high from the entry point or when the bricks move below the 10-day MA.
Stop-loss
Place a stop-loss order near the recent low from the entry point.
Example:
The example below presented a potential buying opportunity when the green bricks started to move above the 10-day MA.
Long trade setup
Short trade setup
Entry
The red bricks cross below the 10-day MA indicates a potential downtrend. Wait for the price action to continue in the downward direction and then enter.
Take-profit
Set TP at a recent low from the entry point or when the bricks move above the 10-day MA.
Stop-loss
Place a stop-loss order near the recent high from the entry point.
Example:
The example below presented a potential selling opportunity when the red bricks started to move below the 10-day MA.
Short trade setup
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