Ma'Renko is simple, yet powerful trading system designed to help scalpers who use Renko charts (including ATR-based, but it should work with any type of candles as well). The thickness of color bands represents different trend characteristics (mostly volume and speed of price changing) which allow a trader to filter out false pivot points, enter and exit more wisely. The chart speaks for itself.
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Better algo to false signal filtration. Bar coloring.