Every brick is the same size and a new brick is drawn one brick size Unanswered Posts My PostsReturn to HomepageChatboxForumsTraders HideoutPlatforms and Metatgader JournalsElite Trading JournalsPsychology and Money ManagementHire a Consultant or ProgrammerOff-TopicThe Elite Circle. Will gives you the low down on the basics of Renko charting and how you can take advantage of this trading strategy. This is a practical guide which will help you to use Renko charts.Renko is another kind of candles.
The most popular are candlestick charts, but there are many others types of charts created in Japan. There is for example Kagi, Three Line Break or Renko chart. White brick means the move is up, black the move is down. With Renko it is easier to spot trends and avoid trading when market is flat.Charting programs with RenkoRenko is not available in every charting program, so it may be not that easy to get Renko charts.
For example if you are usiTotal SharesThe renko charts outwardly resemble three-linear breakthrough charts, but in case of the trade futures with metatrader renko all boxes are of the same size. During gutures the indicator, only those movements which value is more or equal to a set threshold are considered. In other words, no matter on what chart timeframe the indicator will be attached, with the same parameter of the box size the renko charts will always look the same as.