Renko charts are most prone to changing when you use Average
True Range as the box price setting. Otherwise they should be
stable after the set time has elapsed.
Yes the ATR keeps changing so the charts keep changing. Using
ATR makes sense but better to use a chart to pick an ATR value and
then use that as a fixed number for box value. Nonetheless always
wait till the box closes before taking the signal cause the sucker
will vaporize on ya
good advice bkout3 - I like Renko cause it helps filter out
volatility. You can't ignore volatility but it helps keep me
on track of the trend and helps "stabilize" my emotions.
10 minute renko
Posted by marie on 9th of Aug 2011 at 10:12 am
I am loving those renko chart from Sundays newsletter. Thank you Matt and Steve for hard work.
Renko charts are most prone
Posted by 4keeps on 9th of Aug 2011 at 11:39 am
Renko charts are most prone to changing when you use Average True Range as the box price setting. Otherwise they should be stable after the set time has elapsed.
Renko
Posted by bkout3 on 9th of Aug 2011 at 11:53 am
Yes the ATR keeps changing so the charts keep changing. Using ATR makes sense but better to use a chart to pick an ATR value and then use that as a fixed number for box value. Nonetheless always wait till the box closes before taking the signal cause the sucker will vaporize on ya
good advice bkout3 - I
Posted by 4keeps on 9th of Aug 2011 at 12:33 pm
good advice bkout3 - I like Renko cause it helps filter out volatility. You can't ignore volatility but it helps keep me on track of the trend and helps "stabilize" my emotions.
Be careful with Renko charts.
Posted by algyros on 9th of Aug 2011 at 10:34 am
Be careful with Renko charts. They change after the fact.
good advise Algyros.
Posted by ditch on 9th of Aug 2011 at 10:43 am
good advise Algyros.