The ATR (100) Renko chart still looks good. But the ATR cannot be used when it changes every day. It consequently must be a fixed number to determine whether a Renko brick will be painted up or down or not. Of course, this number will need to be adjusted as time and prices progress. But, for now, this seems to be a decent workable option. I'm taking a Renko value of 500 which is close to a 5% move. The bars are colour coded using a trend trader strategy indicator that can be found in Tradingview. Result below.
Not bad. Not bad at all.
By the way, the put December 11000 which was bought for our test for 0.215 is now trading at 0.345 for a 0.13BTC profit. We're selling as the move down is getting a bit tired. Next time we can take a shorter term option.