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Using Renko to get support/resistance levels

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
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
Comment: Here's how it looks changing it back to normal candles
Comment: Check out how Chikou pinpoints these SR levels too


With another confirmation via VPVR
Comment: $270 level doesn't seem to be showing up on the preview, at this time at least. Like so:

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

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

Comment: Renko seems to be best on Linear vs Log
Comment: PA surpassed first SR level. Confirming a trend reversal IMO

Comment: ^ * Short term of course

Next target, $229+ will give more confidence
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