Out of the trade now. booked a nice scale in profit of 16%. across three positions . happy man!! ;-))
LEONES
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never used these Renko, why do you think they are more predictable?
ZenTrader17
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They encapsulate chunks of price movement instead of just individual dates. so for the next candle to be positive or negative the price may have to rise by the default bar value. say 10 or 20 pips. this way when there is another brick added you know is moving and eliminates false signals as you are looking are a longer time frame as well. this is my experienced!!
LEONES
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ok, thanks interesting. can you change the default bar value or is it fixed?
ZenTrader17
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in some cases you can . but it depends which broker you use and their charts. with my broker is a set number for different instruments.