DislikedHello,
So happy to have found this presentation...
Very intriguing.. Pure price action...
For the last week or so I have been testing a renko ea I found somewhere, sorry I can't remember where I picked it up...
The entries are confirmed by a moving average cross.
Here I am watching a 5ema and 25ema cross....Ignored
Just had a bit of a chuckle at your bio - hopefully you can stay on this planet long enough for us to share information and learn from each other! Ha ha.
Trading on the cross of a moving average is a common way to trade. There are many versions of which numbers are used. The 5 and 25 you have chosen look good. I would always trade moving averages with something else to confirm - like the BBMACD you have on your chart. Pivots are good, they have a bit of a 'self fulfilling prophecy' thing about them. A lot of people trade to and from them, so they work. I have not used them much so cannot speak with experience.
The good thing about renko is that you can see support and resistance much clearer than on a candlestick chart. Trading just price action is worth practicing on a demo account until you feel comfortable. In my trading journal I also use the BBMACD, with it set at 144,233,1 you get a lovely view of the trend. Trading in the direction of the current overall trend raises the probability of a win. This might reduce some of the indicators on your screen - you mentioned a desire to do this.
Remember with renko that a box is telling you nothing until it has finished forming. The current box (i.e. still going up and down) should not be traded as you don't know where it will close. With renko, the completed boxes are where the story is told.
Let us know how you got in with your trade!
Keep in touch!
Ezakimak