Predicting Renko and Range Bar Closes with Chart Marks

Summary

The document describes a chart indicator that places a mark to estimate how far the current candle may move before it closes. It is intended to help manual traders or scalpers monitor an unfinished bar's potential close.

The stated scope is offline charts built from Renko, mean Renko, or range bars. No calculation method, accuracy evidence, trading rules, or performance results are provided, so the description does not establish how the prediction is produced or whether it is reliable. Its usefulness is therefore limited to the general idea and supported chart types; users would need further documentation or testing to assess the mark.

Key ideas

• A chart mark is presented as an estimate of the eventual close of the current candle.
• The indicator is intended to help manual traders monitor an unfinished bar.
• The stated supported chart types are Renko, mean Renko, and range bars.
• The document gives no method or evidence for assessing prediction accuracy.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.