Using renko and levels on MT4/5 to find trades in spot forex

In the final part of the online webclass we move to the MT5 platform and I show you how to find trades in the faster timeframes using Renko charts and the USD/CAD. The Renko chart is so powerful as it reveals momentum, something you never see on a time based chart and therefore reveals when markets are speeding up or slowing down. In addition, this chart also smoothes out the price action, making levels much clearer and easier to forecast when a breakaway is occurring. Finally, we can use them with levels indicators such as the Camarilla levels indicator which gives a target for the next move in the trend.

About Anna 2015 Articles
Hi – my name is Anna Coulling and I am a full time currency, commodities and equities trader. I have been involved in both trading and investing for over fifteen years and have traded many different financial instruments, from options and futures to stocks and commodities. I write and publish articles ( mostly for free ) for UK and international publications on a wide variety of financial issues, and in particular I enjoy helping others learn how to invest and trade.

Be the first to comment

Leave a Reply

Your email address will not be published.


*


This site uses Akismet to reduce spam. Learn how your comment data is processed.

» CONTACT ME