Although I hate it when the markets are closed, at least at the weekend we get some time to THINK REAL HARD, as Our Master would say!!
I am playing with an idea to measure "price continuation likelihood" based on a quadratic polynomial counting argument. I have completely rewritten my own Renko stuff to incorporate this. Chart attached.
As well as the blue/red up/down Renko brick, each brick is colour-coded with a "projected continuation coefficient" (a diamond inside each brick).
If you ignore the colour and up/down...Ignored
Time is of the essence!!!!
As I read this, we have a potential 'primer' (Renko block changing color) and 'detonator (Diamond change of color confirmation) sitting right before a traders eyes.
Further, you have a built in SL with a reverse diamond color change. As such, scalpers AND swing traders can trade away like longhorns stampeding. Long as you ride alongside you are OK, veer into their path and it may be uncomfortable.
Switching to Star Trek, I say "Number ONE, please set a course for the furtherest reaches of deep space at MAXIMUM warp and ENGAGE".
Please Expedite at your leisure.