This renko trading chart video has 2 primary focuses: (1) discussion on the new renko trading indicators parameters and conditions, along with setting these up on the charts (2) general thoughts about the strengths and weakness of the renko charts and how they fit our trading method strategies.
This video compares an emini russell renko trading chart with a tick chart for 2 directional swings that began with consolidation periods, especially looking at what each chart showed during consolidation, along with any trade setups for the transition out of consolidation.
We first looked at using renko charts for trading on a series of facebook trades. This video compares our emini russell trades setups on a 360 tick chart with the trades done for the same period using the renko chart.
Renko price charts replace the price bars that are time based or volume based like a tick bar, with price bricks of a predetermined size. This chart type removes the chart noise from smaller insignificant moves, which would be very useful our directional trading strategies and trend following position trading.
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