SPDR S&P 500 (SPY)

[leftyg]

learning...I don't think there is an absolute answer. I try to give room for an intraday move against the position. I look at the closing price...say, what I did yesterday. The price was within .50 (as I remember of making another fill on a red box)......I knew there could be intraday moves today which would take that out, temporarily. I set my sell level for MVV at $62.00..being willing at that price to concede that I had been whipsawed, and that the price would likely continue lower.

As a general rule..I use a box size which gives a reversal at about 4% price change. If a closing price is close to, but does not fill that box..after hours I will adjust orders to allow about 1.5% that forces me out of one position and into the inverse.

While the Renko chart system could be used as fully mechanical, ..as you see, I put some amount of judgement into it. I think anyone using it should do what they are comfortable with...regards.