I keep the Renko chart as simple as posible: Emini S&P for interday trading and grains ( corn this example) on .
NADEX.com is my replacement of Forex which was a disaster. I checck the Sunday charts for S&P500 for direction and look at the daily S&P OHLC chart as a reality check. On Nadex is pick a close to the money option and trade in the RENKO trend direction. I have had success both in a quick profit in 1 or 2 days making approx $25 or $30 and closing the position early or sometimes doublé that by holding until expiration on Friday. I only trade the weekly options.
I trade the Daily grains the same way. I never have much luck on interday trading of grains but with small positions you can ride out the Price swings that RENKO ignores and pick up a trend that you can scale into slowly and take profits along the way.
--Based on Renko charts like this one I took three positions this morning on Nadex.com binary options. I selected near the money strikes. The options are closed weekly on Fridays. The options are all valued at $100 in an all or nothing close out although they can be closed at a different market Price to take profit or limit losses before Friday's Close.
US500 call at strike 2117.5 at Premium 48.63
US Small Cap 2000 call at strike 1235.0 at Premium 61.75
Wall Street 30 call at strike 18,125 at Premium 62.50.
--Not great prices but the trend is up already and my US500 and US Small Cap 2000 are show profit of $4.75 and $4.50 within the hour and the Wall Street 20 is showing a loss of 2.50 in Premium -- all per option position. The Máximum Loss is the Premium and the máximum upside is the Premium Price subtracted from $100 for each option taken for each position. I don't don anything else today but tomorrow I could put on additional calls if the up move is strong.