Logik Filtered Renko

This tool is the best of “both worlds” in its duality. The FilteredRenko bar allows you to add a 2nd qualifying factor to the brick print providing unique insight into the market that few traders have ever thought to examine. Where normal renko bars simply reveal directionality based on brick size calculations, the LogikFilteredRenko gives traders the ability to add a qualifying factor to the bar with a secondary condition.

In addition to this powerful confirmation feature, LogikFilteredRenko bars retain actual price movement data in the wick, allowing traders to see information lost or not displayed with conventional renko bars. By being able to see the wick, LogikFilteredRenko bar traders can accurately position stops, or trailing stops when following a profitable trade more confidently then their non-wick counterparts where such data is not visible.

Possible qualification combinations include tick, volume, and time.

Time:

4 tick brick size with a 10 minute hybrid qualification prior to print

Volume:

4 tick brick with 15,000 share volume qualifier

Tick:

4 tick brick size with tick count qualifier

Find the true trend of the market, buried in the noise

Using the LogikFilteredRenko bar allows you to anchor your brick size to a qualifying condition that reveals the hidden market trend….the actual market trend buried beneath the noise of the market. Noise that is designed to chop smaller competitors out of the market.

In addition, the tool based on our experience also allows traders to quickly discover the underlying market anchors to reveal true trend, easily allowing them to interchange time, tick, and volume anchors with different values to customize the chart for varying markets. A 1000 tick anchor might perform exponentially better in Gold Futures than the Emini S&P, which reveals trend with a 20,000 volume anchor, and so forth.

Trading Method Suggestion:

Because the FilteredRenko is a strong trending indicator, methodologies that allow traders to objectively identify and trail a trend work best with this tool. We suggest combining the FilteredRenko with a variation of the TachEon Trendstalker Elite. One can trade with the ATR based targets “ON” or elect to trail the entire lot size as the market moves.

With the TachEon Trendstalker applied, notice the dark blue solid blue bars along the uptrend. Traders may elect to take profit at these reversals inside the overall trend, and re-enter at the close of the next reversal bar inside of the trend.