Remember it’s 2019 and technology is advancing at an exponential rate. Think about it; how many times does Google update their apps? almost all the time right?! In this post, I’d like to introduce you to the Renko Donchian Reversal System.
This is a trading system suitable for trading Forex, it is fairly easy to implement. The system works on all time frames and all currency pairs.
You may wonder how does the Renko Donchian Reversal system has to do with the advancement of technology.
Think of a 1988 Mercedes Benz. We are talking of a time where there was no infotainment, heated seats or safety features.
Now compare it with the 2019 version. We now talk of true car perfection, we got airbags, heated seats and all the fancy stuff you’d expect.
The Renko Donchian Reversal is no different from a 2019 Mercedes Benz machine. It has all the power twerks a novice needs to realize himself a fortune in the Forex market. It is obviously quicker and sophisticated compared to old trading systems.
Once You Installed Renko Donchian Reversal System, your platform should look like this;
The system is composed of various indicators that analyze the data to provide accurate signals. The first indicator is the Commodity Channel Index(CCI). There are donchian indicators that function just like Bollinger bands on the main screen, the first one is the lower donchian indicator, the second one is a mid donchian indicator and the third is the upper donchian indicator.
Buying Conditions Using Renko Donchian Reversal
- Price should be on the lower donchian
- The CCl should be below the 200 level
- Place a buy stop when a price action signal occurs such as dark cloud cover, kangaroo tails, piercing pattern, and morning star
- Place the stop below the previous swing low where the price must not go
Selling Conditions Using Renko Donchian Reversal
- Price should be on the area of upper donchian
- The CCL should be bellow the 200 level
- Place a sell stop when a price action signal occurs such as kangaroo tails, dark cloud cover or morning star
- Place the stop above the previous swing high where the price must not go
Once you have this system, it’s guaranteed that you will learn from it. And if you are one of those few people who grab opportunities while still hot, you will probably get very rich because of this system. Good Luck!