Using Renko to get support/resistance levels

2018년 9월 12일

This is practicing IchimokuScholar's strategy of using Renko to get SR levels. AFAIK, you may get the following settings for it:
* Traditional, 1% of first day's closing value
* ATR, 0.5 (can set ATR value to whatever you like—I'm still reading on this)
* Red line, weekly SR
* Greens, HH... possible levels for counter trend confirmation or confidence gainer

2018년 9월 12일

노트

Here's how it looks changing it back to normal candles

2018년 9월 12일

노트

Check out how Chikou pinpoints these SR levels too


With another confirmation via VPVR

2018년 9월 12일

노트

$270 level doesn't seem to be showing up on the preview, at this time at least. Like so:

2018년 9월 12일

노트

Closer look at the SR levels around Sept 6th-11th, which seems to not be indicated in the OP

2018년 9월 12일

노트

Linear chart prints out the Renko chart a lil better than if its in Log. Here's an example with BABA 1W

2018년 9월 13일

노트

Renko seems to be best on Linear vs Log

2018년 9월 13일

노트

PA surpassed first SR level. Confirming a trend reversal IMO

2018년 9월 13일

노트

^ * Short term of course

Next target, $229+ will give more confidence