I'm looking at ovo's Renko chart, 3 pips block.
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Disliked{quote} Re read this sentence.. slowly and carefully again and think why it doesnt make any sense at all =)Ignored
Disliked{quote} No need. I very well understand that these types of charts can help humans to deal with randomness. Noise reduction and all...helps the limited conscious CPU in the human brain which normally can't processes more than 60-70 bits per second with absolute max approximately 120 bits per second. But for machines like me it does not matter. Raw tick data is all I need.Ignored
Disliked{quote} Oh nice !! i was talking to a machine/cpu and i didnt knew it.. awesomeIgnored
DislikedI use Renko to give me a trading bias, provide confluence with other sources of information and indictors, as well as getting a different perspective. Renko when used with certain indicators such as the RSI and many others, does provide different information than a similar chart using Japanese candlesticks. I think it is perfectly possible to formulate a strategy and trading edge using renko by itself. I use both an atr version of renko as well as traditional 1+ pip or 1+ point move settings. 1hr charts using JC and renko for Dax(ger30), H1 Renko...Ignored
DislikedEURUSD updates Looking at H1 chart, the price is consolidating for hours. {image}Ignored
Disliked{quote} A few free tips =) 1.-as you can see, when the market its "slow" renko look like it stalled or the software broke or something; listen to that, its telling you nothing its going on = dont trade.. Let renko speak to you, dont force a trade for the sake of it.. some days are just not good for trading (no signals, time to wait) 2.- If you want to look for support/resistance SWITCH from candle chart to line charts so you can see clearly where the price bounce and mark those levels 3.- ONLY act/react on a candle close, dont place a trade if a...Ignored