Renko with moving average
Been reading many posts on this forum but never actually posted before. I used to trade on a dicretionary basis but since leaving my last job and not having access to the 100 companies price data in front of me all day its much harder to make decisions. So I've been using a few different methods to try to come up with something that can give market direction and reasonable buy / sell signals. I realise the exit is also vital....
One of the ideas I'd been playing with was with renko and moving averages however I havent tried trading it yet, but been playing around with a renko chart on the FTSE100 with a 6 point box size, on a 2 day 2 min chart. There are 2 moving averages - one is a fitted one to the renko boxes and the other is a 6 period average with a horizontal shift of 4.
It seems to be fairly good however I realise this will only work on a volatile market.
Do many other people here use renko charts for any part of their decision making??
Read responses in trade2win.com