This indicator is good, it can be utilized for timing entries and exits.
The Cross symbol, is the opening (Bearish or Bullish).
The Square symbol, is a pivot crossing (Bearish or Bullish).
The moving averages, aide the price wave identification.
The settings for Renko:
Seven Bars: a recent wave count with a line graph, on Bollinger Band breaches.
Traditional: seems more responsive.
OHLC: to include inside bars.