High accuracy RenkoStreet Channel Reversal Trading with Fisher Yur4ik and RSI Histogram. This “RenkoStreet Channel Reversal Trading System” is a trend reversal strategy filtered by RSI and Fisher Yur4ik indicator.
Trading NOTES
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- Use a demo account or a small live account first to practice this trading system
This trading system has clear rules. You can use this strategy also on Renko chart (box size 5 pips or higher).
- Time Frame: 15 min or higher
- Financial Markets: any
MetaTrader Trading Indicators
- RenkoStreet Channel (this indicator determines the dynamic supports and resistances)
- 100 Pips Momentum / Oracle Move Indicator (this indicator is formed by two slopes blue line and yellow line)
- T3 08 2Color
- Fisher Yur4ik(optional directional indicator based on fisher transform) 10 period
- RSI Histogram (14 periods)
BUY Rules
- RenkoStreet Channel lime circle
- 100 Pips Momentum: The blue slope cross upward yellow line slope
- T3 08 2Color blue color
- Fisher Yur4ik green color bars and above 0 line
- RSI Histogram > 0
SELL Rules
- RenkoStreet Channel red circle
- 100 Pips Momentum: The blue slope cross downward yellow line slope
- T3 08 2Color red color
- Fisher Yur4ik red color bars and below 0 line
- RSI Histogram < 0
Trading NOTES
- Exit position with predetermined profit target: ratio 1.2 stop loss or when slope cross in opposite direction.
- Initial stop loss on the previous swing high/low.