I like to use Renko charts. The problem is that I cannot easily define a box size. Its easy to choose a chart for candle sticks as they are based on time.
I see many systems where people use 10-20 size boxes but for day traders. I tried 50 pip size boxes and the trends are just too short and you just cant tell if the 3 box in the trend is going to be the last, after all that would be a 150 pip move so you would be entering very very late using these size boxes…
Can I use 10-20 size boxes for mid term trading?
Could I be wrong thinking 10-20 boxes are for day traders… perhaps they use 2-3 pip boxes.
Im looking for maybe 1-2 profitable trades a week so not daytrading at all. I did stumble across a thread in which a guy uses the ATR of a day to calculate the box size. I guess this is to try and get a decent amount of boxes in a certain tmie frame. I had the same idea with ATR over say the last 10 days. The problem is that you would constantly change the box size as the ATR changes so any trends and line would need to be removed and started again…
thanks