Renko channel - very accurate (assembled by me)
{quote} I don't have Renko strategy ,I just want to explain the difference between TMA CENTERED and TMA CENTERED END POINT.{image}
could you post your template? I'd like to give it a try.
- #85
- Apr 14, 2020 4:24pm Apr 14, 2020 4:24pm
- Joined Jun 2017 | Status: Trader | 2,403 Posts
New Template sorry no more Renko this is like a GPS system
I thing before to use RENKO it is better to read:
BEYOND CANDLESTICKS book BY STEVE NISON
RENKO CHAPTER 7
TRADING TECHNIQUES WITH RENKO CHARTS
Unlike the varied trading techniques applicable with three-line break
charts and kagi charts (discussed in the next chapter), the renko charts
are more limited. The only trend reversal signals with renko charts are
with the emergence of a bullish white brick or bearish black brick. Buv
and sell signals based on this technique are shown in Exhibit 7.2.
As shown in that exhibit, buy signals (shown by the letter B) are
generated with the appearance of a white brick. Sell signals (shown by
S) are produced when a black brick appears. since the renko chart is a
trend-following technique, there will be times when the market is in a
lateral trading band. In such an environment there may be whipsaws
(see B1-S1, Be-Ss, and Ba-Sf. However, the expectation with a trend-
following technique such as this is that it allows traders to ride on the
major portion of the trend. This is shown by the buy and sell signals
produced at 82-52, Bs-Ss, and B5-Su.
if i read correctly there is no need any indicators !!
BEYOND CANDLESTICKS book BY STEVE NISON
RENKO CHAPTER 7
TRADING TECHNIQUES WITH RENKO CHARTS
Unlike the varied trading techniques applicable with three-line break
charts and kagi charts (discussed in the next chapter), the renko charts
are more limited. The only trend reversal signals with renko charts are
with the emergence of a bullish white brick or bearish black brick. Buv
and sell signals based on this technique are shown in Exhibit 7.2.
As shown in that exhibit, buy signals (shown by the letter B) are
generated with the appearance of a white brick. Sell signals (shown by
S) are produced when a black brick appears. since the renko chart is a
trend-following technique, there will be times when the market is in a
lateral trading band. In such an environment there may be whipsaws
(see B1-S1, Be-Ss, and Ba-Sf. However, the expectation with a trend-
following technique such as this is that it allows traders to ride on the
major portion of the trend. This is shown by the buy and sell signals
produced at 82-52, Bs-Ss, and B5-Su.
if i read correctly there is no need any indicators !!
KISS&V :Keep it simple safe & visual
