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.
A Renko chart is a type of chart that plots pre-determined fixed movements of price as Renko bricks. This chart type does not use time or volume and can help eliminate the ‘noise’ from other chart types. This additional chart clarity is a reason we use Renko charts for our day trading method.
NinjaTrader Renko chart with trading method indicators article and video, which gives instructions for making the Renko chart and adjusting the indicators. [Read More]
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