GideonHanekom wrote:Hi
Because I use only moving averages and swing high low (support and resistance) and pivots I do not have to compensate for below the chart indicators.
My problem is that because the Renko candles are just indicators on TS2 charts, support, resistance and pivot levels are not correct and also, as I found recently, a new brick is not formed every time price moves the specified distance. (5 pips in my case).
I've reverted to 15 minute time chart for entries. Such a pity as I had really good strategy going on.
Kind regards
Gideon
Hi, You are having the same problems it sounds like that I have with the Renko Bricks, IMHO, You will have better results using the 1 minute chart since the time is shorter and so the bricks print more often.
I am testing Renko on the mt4 platform for the last couple of days and I am much happier with the results, however I despise mt4 it's like bringing a knife to a gun fight...I wish FXCM would add Renko as a standard feature to TS2 or maybe Apprentice could get it working...I would be willing to through in a few $ to lend a hand to making these work in TS2.
Best of luck in your trading!