Default Renko plot is based on Average True Range. Look Back period adjustable in Inputs Tab. Value in Input Tab is In the last days we may notice some indesicion in the market about breaking the resistance or going down.
Possibility exists that the price rises, since the pattern flag was broken. I think that the price continues to rise, possibly in the next few hours of a correction to the uptrend, but later will continue to rise. In the last days the price has remained in a range, therefore it is very difficult to be able to predict an entry, Personally I think that the price will fall, since it ends up breaking a bullish trend.
And the bear channel has been respected blue line Black lines are supports and resistance drawn on the basis of only the price. In the last days the price has remained in a range, therefore it is very difficult to be able to predict an entry, Personally I think that the price will continue to rise, since it is in a trend up for a long time. And lately there was a cut in the small downtrend.
Black lines are supports and resistance drawn on the basis of only the price Renko. I draw a vertical line because in renko you can clearly see a price divergence.
Normal candles but Renko Analysis , now u can see the progress better. Price broke down trend , the horizontal line is an important resistance , A bullish trend could form. Look Week and Dayli , candle , its a good reversal signal in resistence zone. Trading Ideas 60 Educational Ideas 1 Scripts Description in chart - Just an idea, not advice!
The price may only be testing the area for later upload. We could wait until 0. Show More Ideas 1 2 3 4. From the creators of MultiCharts. Select market data provided by ICE Data services.More...