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Renko Momentum Indicator
Renko is a technique of measuring price without time.
Since time is removed, all we're focusing on is trends/price direction without the noise.
This indicator is meant to serve as an oscillator for trend with alerts for buy and sell.
Playing the FTX Moon/Doom, configure your settings as follows:
Traditional
Price * 10%. This gives longer scalps.
Price * 1%. This gives quick plays.
Wait for the indicator to print a buy signal. If it's beyond OB/OS, wait for the EMAs to start moving back into range. Buy on the breakout of this.
I'll potentially add an alert for this in the future.
I recommend forward testing this until you understand it.
Since time is removed, all we're focusing on is trends/price direction without the noise.
This indicator is meant to serve as an oscillator for trend with alerts for buy and sell.
Playing the FTX Moon/Doom, configure your settings as follows:
Traditional
Price * 10%. This gives longer scalps.
Price * 1%. This gives quick plays.
Wait for the indicator to print a buy signal. If it's beyond OB/OS, wait for the EMAs to start moving back into range. Buy on the breakout of this.
I'll potentially add an alert for this in the future.
I recommend forward testing this until you understand it.
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