Introduction
by PRASHANT SHAH -
Renko is a charting method that belongs to the “noiseless” category, i.e. a chart which is free of relatively minor price moves. Apart from Renko, other noiseless charting methods include Point and Figure, Line-break and Kagi. Renko charts have their origins in Japan where they were used during the 19th century. They were introduced to ... Read more
Construction
by PRASHANT SHAH -
Let us begin by understanding how Renko charts are constructed. This is a most important and fundamental aspect. Readers are often more interested in immediately getting to the trade setups; they don’t focus enough on the basics and struggle later in grasping the means of trading strategies. I urge you to spend enough time understanding ... Read more
Brick-value and Time-frame
by PRASHANT SHAH -
Brick Value As mentioned earlier, Renko charts are categorised as noiseless and what makes them so is the appropriate selection of the brick value. In the earlier example, the brick value used was 5 points, which is the difference between each brick. The brick value selected defines the price action which the user considers is ... Read more
