Renko Tick Chart-Best Setting

February 2nd, 2021, 03:45 PM

I´m just testing some renko chart settings on the MNQ. What would be the best tick size setting for daytrading, not scalping? 20 ticks would be 5 points. This seems to be to large because from the last positve brick to the next negative it would be 10 points difference before the negative brick appears. I found 12 ticks=3 points best. What is your opinion?
Does someone combine renko tick charts with moving averages or keltner channels?

February 3rd, 2021, 07:58 AM

I like 5 pt mean for NQ. So 2.5 pts to build a new bar, potential 10 points to reverse a bar (7.5 if no wick lower than the previous bar). I don't use MA for entry but do use them for filtering if the trade is on my side. Support/resistance, supply/demand zones, and trendlines are my preferred entry method. I also use ranges to filter and momentum to identify springs or up thrusts. I use renko mainly for confirming order entry while in confluence with higher timeframe bar charts.

Renko Tick Chart-Best Setting

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Renko Tick Chart-Best Setting