Dear Apprentice,
I would like to develop a strategy based on Renko and Pivot points which very successful for me. I m using Future_renko view and the Pivot indicator
to set:
the number of lots per position - 1 position at the time.
Renko size brick:
Time frame:
Close on the opposite
The pivot point setting: the period of calculation (can be set: H1, H2, H4, etc ...)
Open/Close a position of x contract: Renko bar +1 after Renko bar cross the Pivot Point (Cf Graphic).
Take profit: every time the price hit a New Resistance or Support, R1, R2, or S1,S2, etc ...
Take profit of x%: every time the price hit resistance or support.
Example - Percentage profit set at 30%. Opened position of 100 contracts.
Take Profit R1: 30% of 100 contracts
Take profit R2: 30% of the remaining 70 contracts
Take profit R3: 30% of the remaining 49 contracts
Closing on Renko bar +1 on the other side of Pivot point (P)
Stop value: when opening: x pips
Trailing:
Price cross R1: Stop loss moved to Pivot point (P)
Price cross R2: stop loss moved to R1
Price cross R1 of a new Pivot point period: stop loss stays at previous stop loss level or moved to the new pivot point (if this one is higher than previous stop).
Thanks for your help and support.