Renko chart trend lines and patterns are very useful as trading strategy additions. The trend lines can act as diagonal support or resistance prices, and when combined as part of a bigger chart pattern, they can provide additional method trade setups.
Renko trade setup filters are designed to increase profitability. This is done by avoiding Renko trades that are against price resistance or support, momentum, or inside of price consolidation. Trade filters avoid more losing trades that causing a winning trade to be missed.
The Renko chart trade setups are traded as a combination of multiple indicator and/or method components that occur at the same time and are not against momentum or into support or resistance.
The Renko method trading indicators and trade setups have been developed with a momentum component, since momentum and divergences affect price movement.
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