Green Renko System Forex Indicator

Green Fire System is a trading strategy that is developed to trade in the Forex market (Foreign exchange market). The system is highly effective and has higher rate of success. Green Fire System can be used for profitable trading by both the amateurs and the experts. The system is really simple so it can be understood by anyone with little time of practice. The Green Fire System works best on H1 and higher time frames but it doesn’t mean that the system will not work on the smaller time frames. It only means that the Green Fire System is really effective on higher time frames since price fluctuations become clearer on the higher time frames.

Despite having the right system on your hand you may still may not be able to succeed in trading due to your bad habits. Bad habit here means your bad trading habits which are results of undisciplined trading. If a trader is undisciplined and does not follow the rules of the market he or she can never have a profitable trading life. Consistency is the key in the forex market. You should maintain high level of self discipline in order to be profitable in the foreign exchange market consistently. And money management is another highly important aspect of the trading. You might be losing your money even if you win 80 times out of 100 if you have a bad money management practice. For example if you have the habit of taking your profits too soon and holding on your losses for long time, 80% accuracy in trading will not help you to make any money. Your 20 losses will cut all of your 80 trade’s profits. You should have such a money management technique that you should be profitable even when you just win 40 out of 100 trades.

Let’s get back to system. This system contains 5 custom build indicators. When the system is correctly installed on your system your chart should look like this:

1. Heiken Ashi Bars: Heiken Ashi Bars are different types of charts. They are averaged and smoothed form of the price chart. They help to reduce the noise in the market. We will be focusing on the Heiken Ashi bar colors for making our trading decisions.
2. Moving Averages: In Green Fire System two moving averages are used which work as a channel. We will not focus on these moving averages to make our trading decisions.
3. Trend Lord: Trend Lord works as a filtering tool in Green Fire System.
4. MACD, STR and EMA: you can see the combinations of these three indicators on the top right of your chart. These indicators should show the green color in the time frame you are trading when you are buying and vice versa.

Buying Conditions Using Green Fire System.

                                                                    Heiken Ashi Bar should be green in color.

1. Trend Lord should be green in color.
2. At least one of the three indicators (MACD, STR and EMA) should be green in color.
3. Place your stop just below the recent swing low.
4. Take your profits when the Trend Lord bars turn white.

Selling Conditions Using Green Fire System.

1. Heiken Ashi Bar should be white in color.
2. Trend Lord should be white in color.
3. At least one of the three indicators (MACD, STR and EMA) should be white in color.
4. Place your stop just above the recent swing high.
5. Take your profits when the Trend Lord bars turn green.