Leftg, The signal to go short will be a 1 brick reversal on weekly with the 3,3 trix and 4,9,3 macd in overbought condition. On the daily it will be 2 brick reversal with 7,4 trix and 8,17,7 macd in overboght condition. If there is a reversal when not overbought it will be ignored. Not perfect but a start. I use 2ema 5sma on weekly and 4ema 7sma on daily for crossoer to confirm. On the wekly PNF charts a 2% box with 2 box reversal sometimes shows the reversal sooner.
On the other indicators the $namo going below 0 is a good signal to confirm. When these indicators are overlayed on RENKO charts they do not totaly agree with a line chart. I think it has something to do with the non linear time base of the chart but I am looking for an answer, does anybody have the answer? Obviously these are for trading the index ETFs.
It is obvious there is alot to learn about RENKO. If we all work together we will learn. Good trading, we had the dreaded Friday selloff but a late day rally to help out. Good trading.
