renko
hey ezrydn.....
ezrydn, almost sounds like a peter fonda and dennis hopper fan.....
a lot of work was done on renko charts for mq4 over at forexfactory..... lou g and last viking did most of it.....
renko is just about as close to grid trading as you can get...... basically the point size of the box represents the grid size...... usually the idea is to buy or sell at the next box level with a trailing stop some number of boxes away...... which is the same principle as grid trading......
for me, the best use is to be able to look at multi year charts and get an idea of how often a trailing stop would have been hit vs a profit target..... like, would a 2 block target get hit before a 2 block stoploss.....
renko is also similar trend following..... either long term or intraday...... i posted a 10 point 40 year usdjpy renko chart before..... below would intraday versions of usdjpy and audusd.....
//----
speakin of audusd, fixin to let go some audusd shorts real cheap...... truth is, will have to
pay somebody to take'em off my hands...
... my first loss in a long time.......h
//----
