1) The chart consists of blocks (a.k.a. bricks) which are the same size. These blocks can be bearish and bullish as in a standard bar or candlestick chart. 2) Renko chart does not take time into consideration so, if the Renko chart is set to (10), this means that the next block would not be formed until the price action creates an increase or a decrease of at least ten pips. The block could be formed in a second, a minute, a day or a week
U gonna say , but why renko ? 1) Ability to Spot Trends Quickly 2) Ideal for Support and Resistance Trading 3) Easy-to-Find Chart Patterns
Last days i upload different analysis with renko , be careful because it could take a long loooooong time to give a result.
The following days, upload graphs (D) with traditional renko (5 pips ) and renko ATR ( 40-80 pips or more )
Renko its very beautiful <3 I love renko . Now u could love too LOL
Hi Kayser. First off....love the chart! Easy to understand. I have a question for you about Renko. I noticed that on my chart (short term, 15 min, 2 pip bricks) that sometimes, I will see several brinks in the lighter shade of red/green before the brick actually paints on the chart in either direction. Earlier today on EURUSD I saw one instance where 5 bricks (a full 10 pips) printed all at once! Am I missing something here? I thought it was supposed to print as soon as it hit the predetermined number of pips was reached from the prior brick. Any light you can shed on this for me would be awesome. Thank you so much!!!
Kris
Kris