In this post I will be reviewing the Renko Maker Pro Trading System. This is manual trading system that uses renko charts. Renko charts use pip movements to form bars rather than the time based bars on standard charts. For example, if you set renko blocks to 10, then a bar will only close when price has moved either 10 pips up or down. Renko charts can make it very clear to identify trends, chart patterns and support/resistance levels. They help to filter a lot of the noise that can occur on standard time based charts.
Renko Maker Pro Trading System
The Renko Maker Pro Trading System is easy to setup and visually pleasing. It has no complicated rules and is suitable for beginner forex traders and those who are new to renko charts. This manual forex trading system can filter false signals and confirms entries with a combination of accurate technical analysis indicators.
The Renko Maker Pro Trading System teaches you how to install renko charts, basic renko lessons, how to trade the system and money management strategy. You can use it any time of the day on any currency pairs – it will signal potential setups on all pairs you are running this renko trading system on.
This system is very easy to set up and use, and it gives you clear visual signals on the chart and also alert you. It also comes with a comprehensive step-by-step User Guide that explains everything on how to trade with this system.
Renko charts are used to determine the following:
- Easy identification of support and resistance lines
- Easy identification of continuation patterns such as triangles
- Identification of reversal patterns such as head and shoulders, triple tops, double bottoms and other classically accepted reversal patterns
- Discovery of trends and their reversals that cannot be “seen” on a PPS chart
- Refine our abilities to daytrade/swing a chart as to build up our accounts
What is a Renko Chart?
The Renko chart is a type of price chart developed in Japan and used by traders for technical analysis. Renko measures and displays price changes in the form of diagonal rows, which are built from rectangles (bricks). Renko is built on the basis of price movement over the established discrete values rather than prices and standardized time intervals, like most charts. It is believed that chart was named after the Japanese word “renko” that means “bricks”. Renko allows you to remove unnecessary noise and shows market trends more clearly compared to classic candlestick charts.
Why Trade Renko Charts?
Renko charts provide a broader view of the market and help identify long-term trends in the market (short-term noise is filtered out). Renko charts help traders identify strong support and resistance areas in the market. Renko charts help traders ride long-term trends for maximum profits.
Renko charts, like Heikin Ashi, show price movements free from minor fluctuations. Filtering makes trend detection easier. The bars are the same size because time is not taken into account in the system. Renko charts show a time axis, but the time intervals are not fixed. One brick to could take months to form, while several bricks may form within a day. This varies from candlestick or bar charts where a new candle/bar forms at specific time intervals.
Usually you specify the size of one brick in the settings along with the formation period. It represents the number of points that the price must pass in order for the indicator to draw one bar. The larger the size, the less movement, but the higher temporary deformations and smoothing. Therefore, a smaller brick size increases the sensitivity to volatility.
RenkoMaker Pro Trading System Features
With the RenkoMaker Pro Trading System, you will get the following guides:
- How to Install Renko Chart
- Renko Chart Basic Lesson
- How to trade following Market Trend
- How to trade using the system- Basic and Advanced Rules
- Money Management
Some of the key RenkoMaker Pro Trading System features include:
- Filter to help you only trade following market trend
- The system uses Renko charts, so it is no problem if you want to trade news release
- Very versatile trading strategy
- Can be used on all sessions including Asia, Europe and America
- Can be used for all currency pairs or any other trading instruments
- Simple and clean chart so that you are easy to read and analyze
- No complicated rules to follow
- Support center provided
Renko Maker Pro Trading System Summary
This can be a useful starting point for those looking to start trading with the renko charts. There is no need to chart watch as you will be alerted to trading opportunities with clear entry and exit signals. It includes a multiple time frame trend bar indicator, a signal indicator, renko confirmation indicator, renko expert advisor for generating the renko charts and an easy to understand instruction manual.
If you are interested in downloading the RenkoMaker Pro Trading System, you could always start on a demo trading account to begin with. This could be a great way to familiarise yourself with how to trade with the RenkoMaker Pro Trading System and get the most out of it. You can get a free demo trading account from most forex brokers. Once you have built some confidence and have some success, you may then consider switching over to a real live account.
If you find that it is working well, you could always implement it within your own trading strategy to help you achieve your individual trading goals or even use it as a standalone forex system. There are many ways in which the RenkoMaker Pro Trading System can be used, so it is important to try and see if it can work for you before making any commitment.
If you like the sounds of Renko forex trading strategies, you might want to check out some other Renko systems that I have reviewed including the Renko Charting Package, Renko Street Trading System and the Forex Ertha Renko Strategy.
Click the button below to find out more and to see the Renko Maker Pro Trading System in action!
Renko Maker Pro Trading System
$49
Pros
- All Currency Pairs
- Renko Charts
- 30 Day Money Back Guarantee
- Full Support
- Detailed Instructions
- MetaTrader 4
- Indicators
- Templates
Cons
- Quite complex to setup
- Requires some user initiative
- Not ideal for beginners
- MetaTrader 4 only
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
