Renko chart pattern breakout strategies are a beneficial to our trading method as additional trade setups. And because these breakout trade setups tend to lead to price continuation they are trades that could be done with extra size or as another addon trade in a trading swing.
Discussing combining our Renko indicator trading strategies, with our trade setup filters. The objective is to avoid entering a trade directly into price support or resistance and/or against price momentum.
Renko trading prices are very important for the trading of our method, because the same price can actually be a trade filter and then be used for a trade setup – and then be used for trade management. So, our Renko trading strategies take this in account before taking a trade setup as a trade, and then for holding the trade.
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.
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