When I am asked what is the best Renko trading indicator, I answer that I don’t think there is a best single indicator. Instead choose a combination of related Renko indicators that work together and can be combined into a trade setup that gives price continuation.
Using a combination of Renko day trading indicators for your trade setups, instead of trying to find a single best trading indicator, will lead to more effective and profitable trading. I really haven’t seen a best indicator that could be traded mechanically as a system.
Why Start Day Trading Renko Charts?
After many years of day trading tick bar charts, the decision to switch to day trading Renko charts was based on the clarity of the Renko bricks fixed price moves -vs- the irregular and random size of tick bars.
Additionally, besides the Renko charts method being simpler to trade than tick bar charts, it has also been clearer to teach other traders.
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