Renko Candle Trading Strategy

Stocks Selection Methods

Apply this strategy only on Bluechip or NIFTY 200 stock only.

Analysis Process (Same as P & G Methods)

 Open chart in trading view and apply weekly time frame (5 years)
 Apply Fixed Range volume profile (Row Size 100 and Value area volume 70) and the
stock must be in Step-up
up pattern (Candle must be formed above VAH).
 Now apply CE 3/3 and there must be buy signal as per CE 3/3 (Haikin Ashi candle)
 If the stock is not in step
step-up pattern or CE signals
ls sell avoid & search the other stock.

Renko Chart Settings

 Open chart in tradingview and Change
Normal Candle to Renko Candle.
 Apply Daily Candle.

This Notes Created by Nawaid 1

  After that click on Renko right side (…)
three dots then click on settings and
change the below settings.

(i) Change Box Size Assignment method

method: ART into Traditional.
(ii) Change Box Size Value: Enter 1% Value of Stocks Current Price.
Price

Example:
If we apply Renko Candle on Reliance Stocks
Stocks, then we enter box size in 1% of
Reliance Stocks Current Market Price.
Reliance Current Market Price is 2496
1% of Reliance Market Price is 24.96 after Round off- 25

This Notes Created by Nawaid 2

  After that we will apply Chandelier Exit evergat indicator (3/3 ATR settings for
ATR and ATR Multiplier)

Note:
 Chandelier Exit ds Settings esa 3/3 and 4/4 Hkh dj ldrs gSaA
 Chandelier Exit ds Settings 3/3 and 4/4 dk Back Testing Hkh dj ldrs gSaA ftldk
T;knk csgrj Result gksxk mls Apply
dj ysaxsA
 Generally High Beta/high volatility okys Stocks esa 3/3 dk Settings j[k ldrs gSaA
 Low Volatility ;k oSls Stocks tks T;knk Consolidate Phase esa jgrk gS mlesa 4/4 dk
Settings j[k dj py ldrs gSA

Execution Process
 We Can Execute the Order as per Chandelier Exit (CE) 3/3 or 4/4 Settings (as
applicable) signal. If Generate Buy Signal we will and generate sell signal we
will sell.
 Buy Signals Bottom red candles low is Stop loss

Entry Candle

Stop Loss

 If Chandelier Exit (CE) indicator generate sell signal before SL kindly exit the
trade.

This Notes Created by Nawaid 3