Nikos Mermigas – Unique Renko Bar Video Course & Signals
Archive : Nikos Mermigas – Unique Renko Bar Video Course & Signals
Unique Renko Bar Video Course & Signals
How to trade relaxed, without sitting in front of the PC all day long and still able to “milk” hundreds of pips out of the markets?
That is what many traders are looking for…
I have good news for you; it’s possible!!!
Let me explain.
The beauty of the Spartan Renko Bar system is that it cuts out the noise on your charts. This mean you don’t get confused anymore when it comes to make trading decisions.
First of all because the system is very easy to understand and to learn and secondly because the Spartan Renko Bar Signal Indicator does most of the work for you.
It is programmed to wait for a clear setup before it triggers alerts. The only thing you have to do; Place your trade when the signal is strong, and I make sure you understand how to do that by watching all detailed videos of course.
The system works great on all st yles, like scalping, day and swing trading. In case you are new to Renko bars, please read the detailed explanation further down!
What is the difference between Renko Bars and Classic Candles?
Renko bars are not based on time increments as with the classic candle sticks on your chart.
If you set your charts to a 1 hourly time frame for example, a new candle will appear every hour.
It does not matter if the price moves only 1 or 100 pips per hour. You will still see one new candle every hour.
Now, Renko Bars are different, because they measure only volatility and price action.
Renko bars count only ticks or pips, so if a Renko bar is set to 10 pips, you will only see a new candle appearing on your charts if the price moves higher or lower (depending on the trend direction) by 10 pips.
You can actually set Renko bars up yourself and are able to choose the number of ticks desired
Therefore if you set up your charts to 6 points per candle (that is what we use to scalp), you will see a new candle on your charts only if the price moves 6 pips higher or lower.
If the price moves only 5 pips in one direction and then again 5 pips in the other direction, you will not get any new candles, because you are still one pip short.
Now compare; if you open a classic candle chart on a 5 minute time frame, you will see six candles in 30 minutes, right?
If the price moves only 5 pips up and down within this 30 minute window, the Renko Bars which are set to six pips per candle would not produce one single new bar! If the price is moving fast and you see a 100 pips move in 30 minutes, the classic candle stick chart would produce one big 100 pip candle, but the Renko Bar chart would produce a new candle every 6 pips, so about 16 bars within 30 minutes. Renko bars are in my opinion a great “range filter”, if you learn to use them correctly.
Setup your Renko bar charts and Top down approach basics
Top Down, setups & and first member live trades
Renko bar trading without top down
Management examples & Renko Scalping rule basics
Different Setups and Ranges
GBP/JPY M16 Trade Example
M6,M16 and range breakouts
Follow up on open positions & members questions
Aggressive money management & scaling positions
Trading Plan & Trading Journal examples