Renko Chart Day Trading
The Renko chart day trading training videos for 2020, like those of 2019, will focus on the trading of the British Pound futures contract as it is the most frequently traded. Additionally, the Renko trading method is being used for the Oil futures contract, along with the Emini Dow and Emini Russel index futures contracts.
Here is a Renko day trading video chart that was taken from a training video [click to watch video] for the British Pound.
Renko Chart Markings
You can see the Renko trading indicators on the chart along with a series of marking that were made during the video, in order to discuss the following Renko method trade components:
- Yellow circles are trades – the specific Renko setup is reviewed
- Blue squares are profits that were taken – if no profits the stop-loss exits were discussed
- Gray lines are price lines – used for support and resistance along with trade filtering
- The Renko videos will also discuss trade filtering for trading against price momentum and especially for avoiding trading inside of price consolidation
- Blue lines are chart and/or price patterns – on this chart, a price momentum divergence low was marked
- Along with our ‘base’ Renko day trade setups, there are some pattern setups that provide high odds trades added to the Renko method
Renko Chart Day Trade Videos
Below are links for the 2020 Renko training videos and links for 2019 and 2018 which are still current. But do note that there may be some modifications in newer videos, including (1) price momentum divergence trade setup (2) Renko chart brick size changes.
The Renko chart brick size for the British Pound, Oil, and the Emini Russell remain 3 bricks – but I have changed the brick size for the Emini Dow to a 6 Renko.
Note: You will need real-time tick data for making Renko charts. Kinetic.com is what I use as a data source service and it especially works well with NinjaTrader charts.
Learn more about these futures contracts and their individual specifications [note that these are not Forex pairs] by going to the CME website:
New To Trading Renko Chart Trading
If you are new to Renko chart day trading, then you will want to begin by setting up Renko charts and adding your trading indicators. You can learn how to do this by watching the following video:
After you have your new charts and indicators, continue by watching the following Renko method training videos:
These videos will discuss the ‘base’ Renko chart trade setups, trade management, and the trade filters that will be used for avoiding Renko day trades with lower odds.