The Renko and Three-Line Break Models have similar looking charts for today and if I have time later, I'll try to post them. This screen is what guides my trading, day in, day out.
I still expect a serious decline in the market before the end of the summer and in all probability sooner rather then later. But, as I have stated many times, I do not trade my forecasts, I trade my models and whichever way prices are trending ("trending" as defined by my models and their underlying algorithms), is the direction of my trading.
As of close of business today, like most trading days, I am now flat in my trading account.
Tomorrow is another day, another trend, another dollar.
A
3 comments:
Hi Allan,
I really enjoy your site and I'm very interested in both Three Line Break and Renko charting.
For $SPX daily charts, I use the Stockcharts.com default Parabolic SAR settings (0.02,0.2) for both Three Line Break and Renko charts. What Parabolic SAR settings would you recommend?
In addition, I use ATR (14 periods) for Renko charts. However, I would like to try out specific point sizes. What point size would you recommend for $SPX daily Renko charts?
Thanks so much for your reply.
Richard
Richard: Start with the default SAR and only tweak if you find those triggers unacceptable, be careful not to "data mine" where you find some optimal setting that only works for a certain data set; Renko - for SPX, try 1 or 2, see which one has a better look, or feel for your trading.
Allan, thanks very much for your reply. Much appreciated! Richard
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