Light Crude Oil FuturesEducation
Updated Renko Strategy Combined with a Weekly Chart
Weekly candlestick
Linear Regression indicator x3 with STD set to 1, 2, and 3 respectively. I set the color gradient to 25% on 1, 15% on 2, and 5% on 1 to differentiate the color. On the weekly charts, I set the lookback period to 45 for 45 weeks
Pivots (standard pivots) on a Yearly timeframe x2. One set to 'traditional' and one set to 'camarilla'
(I'll cover the static volume profile and the opening range and the volume range in an update to this at a later date)
Renko charts
I use the same configuration for the Linear Regression with the exception of the lookback period which is set to 90 blocks. Renko charts are not truly time based though time does play a factor in how they're implemented in trading view.
I don't use pivots on the Renko charts.
On both charts, you can see from the settings how the moving averages are configured
On both charts, I use a dual Stoch overlayed configured at 5,3,3 and 50,3,3
Commodities channel Index
Directional Movement Index
I configure these indicators with a 5/50 combination regardless of the Renko or the weekly candlestick chart
I track the following markets and with these Renko settings
Crude oil: close/traditional/blksize=2.5
S&P 500 mini: close/traditional/blksize=50
Natural Gas: close/traditional/blksize=0.2
Soybean Meal: close/traditional/blksize=5
Aussie Dollar: close/traditional/blksize=0.005
Bitcoin: close/traditional/blksize=1000
With bitcoin trading 24x7, it's a create market to practice with using the Trading view 'paper trading' broker
My intent is to expand on this setup with ideas on how to trade against these configurations:
Linear Regression indicator x3 with STD set to 1, 2, and 3 respectively. I set the color gradient to 25% on 1, 15% on 2, and 5% on 1 to differentiate the color. On the weekly charts, I set the lookback period to 45 for 45 weeks
Pivots (standard pivots) on a Yearly timeframe x2. One set to 'traditional' and one set to 'camarilla'
(I'll cover the static volume profile and the opening range and the volume range in an update to this at a later date)
Renko charts
I use the same configuration for the Linear Regression with the exception of the lookback period which is set to 90 blocks. Renko charts are not truly time based though time does play a factor in how they're implemented in trading view.
I don't use pivots on the Renko charts.
On both charts, you can see from the settings how the moving averages are configured
On both charts, I use a dual Stoch overlayed configured at 5,3,3 and 50,3,3
Commodities channel Index
Directional Movement Index
I configure these indicators with a 5/50 combination regardless of the Renko or the weekly candlestick chart
I track the following markets and with these Renko settings
Crude oil: close/traditional/blksize=2.5
S&P 500 mini: close/traditional/blksize=50
Natural Gas: close/traditional/blksize=0.2
Soybean Meal: close/traditional/blksize=5
Aussie Dollar: close/traditional/blksize=0.005
Bitcoin: close/traditional/blksize=1000
With bitcoin trading 24x7, it's a create market to practice with using the Trading view 'paper trading' broker
My intent is to expand on this setup with ideas on how to trade against these configurations:
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