Renko Channel Strategy For MT4

Renko Channel Strategy For MT4

Please note: This strategy was publicly published in the trading community and is free to use. We do NOT make an attempt to decide if this strategy is profitable or not, because we know that the major factors regarding trading results are the skills/experience of the trader who executes the strategy. Therefore, we are mainly explaining the components and rules of the strategy. If applicable, we are highlighting advantages, disadvantages and possible improvements of the strategy.


The Renko Channel Strategy For MT4 is designed to trade the major reversals in the market. It also helps to find the endpoint of a retracement, which eventually creates the opportunity to ride an existing trend. The system uses multiple indicators to identify the trading zone.

According to the inventor of the strategy it can be used on any time frame. However, you should always compare the trading costs (the spread) with the expected profit moves of the time frame. Lower time frames produce smaller profit moves. Therefore, it is advisable to trade higher time frames.

FREE Renko Channel Strategy

Download the FREE Renko Channel Strategy for MT4.

To receive my email 100% sure: 
Put my email on your whitelist!


According to the inventor the Renko Channel Strategy for MT4 can be used to trade any kind of financial instrument. But we should start with the major currency pairs as the price movements are much more stable compared to exotic pairs.

In this article, you will learn about the essential functions of the indicators. With the help of the indicator reading, you should be able to spot the potential buying and selling zone.


Renko Channel Strategy For MT4 - Trading Indicators

    • Renko Street Channel: It is formed on the basis of the Heiken Ashi band within which the price oscillates. It has a red line graph on top and a dark green line graph at the bottom. This Renko street channel is going to help us to identify the support and resistance level.

      Green and red circles on the channel represent the potential entry points for the long and short positions respectively. So, we should be cautious when the price enters into these marked circles.


    • VBBand 600: This indicator creates a simple band formed by the triangular moving averages with period 55. The band act as a dynamic support and resistance level.


    • Renko Street Trend: It creates a long bar made up of green and red patches. The green patches indicate a bullish market while the red patches suggest a downtrend. So, by analyzing the colored patches, we should be able to identify the change in the trend. 


    • THV Trix: It is the slowest trend-identifying tool used in this strategy. It has three signal lines that show the direction of the trend by changing its color and slope. Moreover, this indicator can plot green and red arrows depending on the momentum of the market. 


    • MBFX Timing Indicator: The function of this indicator is similar to the THV Trix indicator. It has a signal line that oscillates between 0 and 100 levels. If the signal line is above 90, we should be looking for the sell signal. On the contrary, if the signal line is below 10 levels, we should be looking for the long trade setup. 


    • S-Stoch Trend: It is the fastest indicator used in the Renko channel strategy for MT4. If the signal line trades in between 0-20, we should be looking for buying signal. On the contrary, if the signal lines trade in between 80-100, we should be looking for the short trade setup.


Trade setups using Renko Channel Strategy For MT4


Long trade setup:

In the above example, you can see that the price trend was bearish and the price has already crossed the dotted inner band line. Eventually, the price touches the outer green price band (Heiken Ashi) indicating an imminent bullish rally.

However, the Renko Street trend bar was still red though we have an oversold reading in the stochastic oscillator. So, we waited for further confirmation. As soon as the  MBFX Timing indicator changed its color from yellow to green, we have the confirmation to take the long trade.

Within this time frame, the THV Trix indicator, as well as the Renko Street Trend bar, turned to green, which validates the long trade signal.

After taking the long trade, we should place our stop loss by analyzing the support level. The resistance level is used to determine the take profit level for this trade.


Short trade setup:

In the above example, the prices crosses above the green dotted band and touches the red outer band. The signal line in the stochastic indicator is well above the 80 lines.

Moreover, the THV Trix lines are above the mean horizontal line. And the MBFX Timing indicator and the Renko street bar showed red-colored reading, which is the indication that the price may fall.

So, we have taken the short trade with a stop loss above the resistance level. The take profit level is set to the nearest support level. But you should be careful while setting up the stop loss and take profit since the minimum risk to reward ratio for each trade setup should be 1:2.



The Renko Channel Strategy For MT4 relies on a simple set of indicators reading. In order to take the trade properly, we should use strategic steps. So, we recommend the rookie traders learn the use of this system in the paper trading account. 

Note that, every trading strategy has its pros and cons. Before you start trading with a new system, you should check the efficiency of the system in the virtual trading account and see how it goes with your personality. If you feel satisfied, only then you should be using this strategy in real market.


Download the complete system description and the files here:

FREE Renko Channel Strategy

Download the FREE Renko Channel Strategy for MT4.

To receive my email 100% sure: 
Put my email on your whitelist!


Partially Automated Trading Besides Your Day Job

Alerts In Real-Time When Divergences Occur

My Recommended MT4/MT5 Broker

About Me

I'm Mike Semlitsch the owner of My trading career started in 2007. Since 2013 I have helped thousands of traders to take their trading to the next level. Many of them are now constantly profitable traders. 

The following performance was achieved by me while trading live in front of hundreds of my clients:

Connect With Me:  

Results From 5 Months!
This service starts soon! Be the first who get's notified when it begins!

This FREE Indicator Can Transform
Your Trading!

FREE Indicator + Telegram Group

Request the Ultimate Double Top/Bottom Indicator which is used by 10,000+ traders.