DislikedI agree, and have already taken it off my Renko charts. It seemed to filter out a bad trade every once in awhile on a time based chart, but through all of my back testing this weekend I have not seen one instance where the lwma was helpful as a primer on the Renko chart.
I also wanted to throw out there the difference I have noticed between an MT4 broker and Oanda. In my opinion it would be insane expecting to get a full target (ie. 10 pip target) if trading with an MT4 broker, as they tend to re quote and slip like crazy. However on Oanda...Ignored
Regards.