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Renko Chart Trading: Learning To Trade With Renko Charts
Learn about Renko chart trading and a method of price and momentum continuation strategies.
What Is Renko Chart Trading?
Renko chart trading is a method that uses price charts instead of traditional bars or candlesticks. A price chart is one that does not use time or volume. The Renko price chart forms bricks based on a constant setting size.
Therefore, all Renko bricks on the chart are the same size and minor moves or ones smaller than the setting size are not seen on the completed charts. Plotting bars or candlesticks only as a function of a time interval are eliminated.
Compared to traditional charts, price charts can give a clearer read of price movement, which is a benefit of Renko chart trading.
Renko Chart Trading: Renko Charts Are Clearer Than Candlestick Charts
Along with Renko trading indicators, trade setups, and trade management, also learn Renko trade filters that are used to avoid trading at price support or resistance, inside of consolidation, or at price momentum extremes.