I continue my big experiment with different chart types. In the previous training article, I described the advantages and disadvantages of Renko chart. After that, I was testing the signals, sent by Renko, and those, provided by common technical analysis tools, like MACD and moving averages, on different cryptocurrency pairs.
I want to show with this example how the price in a lateral movement oscillate in ranges between supports and resistances lines.
The target is the following, if the price bounces on a resistance, make a short until it reaches the support level.
If it bounces on a support, make a long until it reaches the resistance.
If the price breaks a resistance, make a long...