1/6
Misconception - Renko can't be reliably traded because is does not display price action accurately Reality - Correctly calibrated Renko blocks can offer unparalleled accuracy for entries and exits Interested? Get you name in this thread and i will share a task to complete
Misconception - Renko can't be reliably traded because is does not display price action accurately Reality - Correctly calibrated Renko blocks can offer unparalleled accuracy for entries and exits Interested? Get you name in this thread and i will share a task to complete
2/6
Ok here's the game. I will give you basic criteria and you go play with some coins.... Tell me how you get on and what sort of results you are getting. I don't claim this is perfect BUT it fucking is..... often
Ok here's the game. I will give you basic criteria and you go play with some coins.... Tell me how you get on and what sort of results you are getting. I don't claim this is perfect BUT it fucking is..... often
3/6
This is designed for new listings..... The Renko calibration will become too sensitive as price increases so this is only aimed at initial listing pumps. First lesson..... failure swing... This should be familiar to most.
This is designed for new listings..... The Renko calibration will become too sensitive as price increases so this is only aimed at initial listing pumps. First lesson..... failure swing... This should be familiar to most.
4/6
Renko calibration. Pick a coin... for this example I will use POLY/BTC Bring up candle chart set to daily. Take the closing price of the listing candle.... Set Renko to traditional, box size = 1% of listing candle close price.
Renko calibration. Pick a coin... for this example I will use POLY/BTC Bring up candle chart set to daily. Take the closing price of the listing candle.... Set Renko to traditional, box size = 1% of listing candle close price.
5/6
Setups - You will need to use some discretion... small reversals (1-3 boxes typically) are ignored. You are looking for simple failure swings. Lay out trades like the first pick and then observe PA on candle chart. Did the noise reduction help your accuracy?
Setups - You will need to use some discretion... small reversals (1-3 boxes typically) are ignored. You are looking for simple failure swings. Lay out trades like the first pick and then observe PA on candle chart. Did the noise reduction help your accuracy?
6/6
Limitations.... You need to be careful to ensure you are charting listings to first major exchange i.e new coins only. When things start ranging you will die if you keep trading this. Its purely for the first x% move. then move on to next coin
Limitations.... You need to be careful to ensure you are charting listings to first major exchange i.e new coins only. When things start ranging you will die if you keep trading this. Its purely for the first x% move. then move on to next coin
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