RENKO CHARTS

[Scorpinme]

Good evening everyone. I've been working with a new indicator and I think it will be helpful with the Renko charts. I couldn't get my annotated chart to save correctly with stockcharts, all my lines keep shifting over, so I had to do this in paint and it's not as well annotated as I would've liked but it does the trick.

I've been messing around with the ROC(12) and ROC(3). What I've found out is that it is a good confirmation for the CCI indicator. Looking at the chart here you can see that the ROC(3) moves up before the PPS moves up and most of the time it moves with the CCI(2) but also will move before the CCI(2). I've been using it for confirmation for an early indicator for a move up.

Now looking at the ROC(12) you can see that it will peek right before the PPS moves down. I guess you can say that this would be the strength of the run.

I've been using the ROC as an early indicator to get ready to trade. Then using the Vol, CCI, Trix, Slope for confirmation. But if I want to hit the bottom then I'll take a chance and just use the ROC(3), CCI(2) and vol.

Let me know what you all think.