I am usning one strategy for MCX Silver Mini which gives daily 100-150- points with stop loss of 100 points.
so here it is :
Buy Silver mini If
1] Super trend ( 14, 3 ) gives upper arrow.
crosses above 50 . with above settings.
3) candle crosses above Moving average (exp)line 21
@vikram21 The conditions who mentioned 1. supertrend (14,3) gives up arrow, 2. RSI Cross above 50 and 3. EMA(21) crosses above close. If you are using “and” condition in all three it might be rare that all these conditions would meet at same candle, you can backtest and check though. And if you use the conditions mentioned in the screenshot by @Krishnendu and you using target than it is possible that you might take the position again immediately after either the target or stop loss is met. My suggestion would be use RSI Higher than 50, “and” Supertrend Lowerthan close “and” EMA (21) as cross below close - as EMA is giving the late signal (as visible in your graph) and than you can use target and SL. OR you can use even EMA as lower than Close and use may be supertrend (14,3) to exit the position, without using target and stop loss.
Also, a Renko candle can disappear if the prices move in opposite direction, so ideally you should be taking the position only when another candle is formed after your signal candle, so there would be a lag in the price as well, which is Rs.30 (size of the brick).
You can explore inuvest.tech to build your strategy and they support both long and short in same strategy but not Renko yet. I ran your strategy with HeikenAshi for 3 months. Here is the result.