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Updated

Using Renko to get support/resistance levels

This is practicing IchimokuScholar's strategy of using Renko to get SR levels. AFAIK, you may get the following settings for it:
* Traditional, 1% of first day's closing value
* ATR, 0.5 (can set ATR value to whatever you like—I'm still reading on this)
* Red line, weekly SR
* Greens, HH... possible levels for counter trend confirmation or confidence gainer

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Here's how it looks changing it back to normal candles

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Check out how Chikou pinpoints these SR levels too

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With another confirmation via VPVR

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$270 level doesn't seem to be showing up on the preview, at this time at least. Like so:

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Closer look at the SR levels around Sept 6th-11th, which seems to not be indicated in the OP

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Linear chart prints out the Renko chart a lil better than if its in Log. Here's an example with 1W

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Renko seems to be best on Linear vs Log

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PA surpassed first SR level. Confirming a trend reversal IMO

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^ * Short term of course

Next target, $229+ will give more confidence

Also on:

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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.