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The last few days I've been reading a lot of mail about three line breaks and
renko. I feel that three line breaks is much better than renko as it is the
price action that gets you in and out of the market and not some random
number that looked good in back testing (more on this later). However, the
reason I am writing is because I want to caution all of you if you are
considering using three line breaks in real time/day trading. Three line
breaks work great on MS with end of day data; however, in real time I believe
it miscalculates reversal bars at times and there are a few other problems
that I've noticed with it in real time...especially with data on demand.
Lynn from tech support and I have been working on having the development
department at MS to recognize this. Lynn, if you are reading this as I am
sure you are I hope you can pass on to whoever needs to know that there is a
lot of interest in three line breaks/point and figure/renko, and perhaps MS
can distinguish itself from other softwares by improving/developing
indicators and features that work better with these charting methods. More
on this later as I feel very strongly about the effectiveness of TLB
charting. -Sonny-
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