If you are not familiar with Renko charts on TradingView (or TV, as I prefer to call it) you are probably using the FREE version of TV.

Renko charts are allegedly only available to the people who PAY for a subscription to the TV platform.

Do you know why that is?

There are TWO trading concepts every consistently winning trader knows and understands:

Price Action and Mean Reversion.

Price Action means exactly what it says.

What direction is price moving and what direction can we expect it to move in the immediate future.

Mean Reversion is a somewhat more complicated mathematical term that simply means "Return to Center."

For our purposes, return to center simply explains why price goes up and down all the time, even in the midst of a strong trend in one direction.

At just about every price point on a chart there is a cluster of buyers and sellers. At some prices Buyers dominate and move the price on the chart up. At other points Sellers are in charge and price drops.

Whether they know it or not, these traders are the beating heart of Mean Reversion.

These pictures represent the same chart (DJIA, aka US30) at the same time (16:30 market open).

The chart on the left is a 5M candlestick.  The chart of the right is a 5 point Renko box (a 5 point box on the US30 means price must move up or down 5 points for a new box to open...put another way, they represent $5 price moves).

The candlestick shows 10 full minutes of indecision as price opened and closed on the same price point.  The next ten minutes price stayed within the upper boundaries of the high and low price set by the 16:30 candle.

For most Time Chart traders, this chart represents indecision and the likelihood of staying on the sidelines until some sort of trend develops and is apparent on the charts.

For Renko traders, this same 20 minute period represented a chance to take a handful of profitable trades, as price made a series of moves worth 30 to 60+ points in that short period of time.

Which sounds better to you: doing nothing and waiting for some magical chart formation to appear? Or take the Price Action/Mean Reversion trades as they develop and be done for the day?

Take another look at that same DJIA/US30 Renko chart, with the PV2 indicator added to it.

My name is Jeff Glenellis and I have been trading and teaching trading to others for nearly 20 years.

In 2009 I began a quest to develop the most accurate Renko-based indicator in existence, and after a decade and a half of false starts and dead ends (not to mention the boatload of money I sunk into this endeavor) I finally found what I was after.

I call it the PV2.

PV is short for Peaks and Valleys, and 2 represents the final version (after a long series of 1.xx versions fell just short of the mark).

This is also a form of "Mean Reversion" indicator which takes into account previous price moves and their corresponding highs and lows in order to plot out the most likely direction price will take with the next Renko box.

It does not repaint. It does not move backwards to show the best entries in backtesting while in real life the entries are much worse (as is the case wth so many other indicators).

What you see in these screencaps is what traders who rely upon the PV2 saw in real time.

S&P 500 $1 Renko Box (Close, Traditional, 1)

DJIA  $5 Box (Close, Traditional, 5)

Nifty50 R5 Box (Close, Traditional, 5)

GBP/JPY 4 pip Box (Close, ATR, 14)

WTI $.02 Box Size (Close, ATR, 14)

XAU/USD $1 Box Size (Close, ATR, 14)

Just FYI, the first 3 screenshots above were taken from last Thursday and Friday's trading. The bottom 3 were taken this morning (Memorial Day in the US, a national holiday where all the markets are closed).  Even on a major holiday, you can see multiple winning trade entries on all three of those charts from this morning's trading.

All the marketing gurus I've read over the years tell me I need to spend the next 15 minutes telling you how this method is worth $10,000, but you won't pay that much today, and then it's worth $7500, but because I love you I won't charge that much, and so on until we get to the actual price.

Let me spare you the b.s. and just tell you the price is $197 for the indicators and the training videos found on the download page.

If you have any sort of resonable account size (meaning you aren't trying to scrape by with a $10 balance) this should be a no-brainer for you.

If you trade the DJIA so that each point is worth $1, you would need 197 points to pay for this trading package.  If you go back and look at the DJIA chart and the $5 (5 point)Renko bricks, you'd see you only need 40 bricks to get all your money back.  With all the 5-15 brick moves you see after the market opens each morning, you could easily get that back in 2-3 days of simple trading, and maybe even on the first day with a little trading luck.

The same applies for Gold, Oil, the Nifty50 (if you're one of my Indian friends who has access to that amazing chart), just about any chart you'd want to trade.

You just wait for the PV2 lines to cross and trade in the direction of the cross, as long as price is at the bottom of the bands for Buy trades and the top of the bands for Sell trades.

Rinse and repeat.

All day long.

But as great as this package is already, if it's not quite enough...

I'm adding a third indicator to this package that will serve to add 30, 40, even 50% more pips/points to your trade.

It's called the Renko HMA and it's designed to point out those trades where there appears to be a sustained price move happening, so you can scale in a second trade and effectively double your pip/point gains moving forward.

The Renko-HMA is based on the idea that trades have three parts: a beginning, a middle and an end.  The PV2 indicator does an outstanding job of pointing out the beginning portion of the trade.

The Renko-HMA points out the entry price for the "middle" portion of the trade, which is arguably the easiest segment to post gains from.  On most trades you will be up 2-3 boxes worth of pips or points. The Renko-HMA gives you the entry signal for a second trade, and you can see from the above chart this can be an extremely profitable entry point.

It is not meant to replace the PV2. It is there to augment your trade by pointing out the best price to enter a second trade.

And as you can see in the screencap, an original price move of 80 points can turn into 145 points total with the addition of the Renko-HMA signaled trade.

Full training on the Renko-HMA is included on the download page with the other training material for the PV2 and Renko Signal Bands.

Do you know who a trading philanthropist is?

It's someone who keeps donating all the money in their account to the winning traders.

Trading is a zero sum game.

For someone to win money from a trade, someone else has to lose that money.

If you've made it this far, there is a 90% chance you are one of the philanthropists. After all, winning traders are not looking around for a different trading method if the one they already use is firing on all cyliders.

So, on behalf of all the other winning traders, I thank you for your donations.

But don't you think it's about time you quit donating all your money to the cause and start pulling money out of the market for yourself?

It's honestly as easy as it seems on the charts above.

All you need to do is quit following the lemmings as they race at breakneck speed for the edge of the cliff, their time-based charts and multiple indicators and trading robots all spitting out one lousy trade entry after another.

Break away from the pack. Switch to a charting method that actually gives you a legitimate chance to Buy at the Bottom and Sell at the Top, and start taking winning trades for a change.

And it all starts for you as soon as you click the "Buy Now" button below.

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