Hello, I hope I am posting in the correct place. Apologies if not. I have recently switched from Forex to Futures MT4 to NT8. Still learning and have been trading MNQ exclusively. Attached is a screen shot of the chart set up that I use. My chart has four SMA's; Period 5, 21, 55 and 200 that I use as trend lines. The RSIOMA settings are 2,8,34 and there is a OsMA that helps with confirmation. Today I took a 10 min short trade at 6:43 Pacific and trailed my stop which earned 22 points. The RSIOMA showed divergence, price was below SMA 5 which I use as a trigger, and the Blue line in the RSIOMA below the Magenta. As you can see I don't have candlesticks. I purchased a hybrid which I think is brilliant. The system does work with Renko but what I use takes out the rigidness of the Renko. I think this has promise as I have had good success and I think automating especially after hours could be very profitable. I have also attached a screen shot of the DAXM which seems to have excellent potential to automate.
Manually, I will enter a trade when price closes above or below the 5 SMA taking into consideration divergence, and bounces off of trend lines. I believe just using price closing above or below the 5 SMA on its own would be profitable. Like any automated system chop could be a problem, but if combining rules using some of the SMA's and the RSIOMA could eliminate losses from sideways movement. The bars that I use are very good and take out a lot of the noise of a Ranko.
I work full time and only have time to trade about a half hour before the market opens and about an hour past opening. Let me know what you think and I'll do my best to answer questions.