Renko Chart Day Trading Strategies And Method Training

Welcome to the Renko chart day trading strategies and method training website.  I want to discuss our Renko trading strategies, day trading method trade setups, along with our Renko training program.

After day trading bar charts since 1996, I switched to Renko chart day trading in 2013.  Why make the switch after all the time trading and teaching a different trading method?

As will be explained further in the trading videos, it was related to the clarity that the Renko bricks gave for trading, when compared to the ‘noise’ that often occurred on the tick bar charts that were being traded at the time.

Renko Chart Day Trading Strategies Videos

When you watch the video, especially note the comparison between the tick bar chart and the Renko brick chart, along with the marked trade setups and trades:

  • Tick bar chart irregular and different sized bar
  • Tick bar chart trades based on a chart reverse, followed by a trade entry – the timing could be confusing
  • Renko chart is made of all the same sized bricks
  • Renko method setup and trade entry timing has been a clearer method for the traders in the group to learn

Renko Chart Day Trading Method Strategies Overview

Click Here to Watch Video:  Welcome To Renko Chart Trading 

Renko Day Trading Method Overview

The 4 videos below will give you a further overview and a better understanding of our Renko day trading method strategies.

Renko Day Trading Method Strategies Videos

More specifically these trading videos will discuss:

  • Renko chart and brick construction
  • Trading indicators and how they are used
  • Method trade setups – there are 3 of them
  • Method trade setup filters and how they are used to avoid trading in low odds conditions

When you watch the videos on trade setup filters, especially note the video on filtering for consolidation.  It doesn’t matter what trading method you trade – if you trade inside of consolidation you are likely going to get ‘whipsawed’ and accumulate trading losses.

Here are the links to the Renko chart day trading method overview videos:

  1.  Renko Charts And Indicators
  2.  Renko Trading Method Setups
  3.  Renko Trade Setup Filters
  4.  Renko Trading Filter For Consolidation

Renko Trading Strategies Member Training Videos

I also wanted to include a couple of our Renko strategies member training videos.  These training videos will discuss all aspects of the trading method, along with giving a trade review.

Renko Trading Strategies Training Video1

  • Emini NQ Renko chart trading – start the video with 4 marked circles and ask if these were all method trade setups
  • The answer is yes BUT we hadn’t added our trading prices yet – when we go back to the left and mark the chart for what was a double top high and a double top higher high, all 4 trades were price filtered and avoided losing trades
  • Discussion of price filtering for trade entry and for trade management – a trade was held against a price envelope reverse a brick above support, additionally, there were trade setup filters for momentum and a transition into consolidation
  • Discussion of profit expansion through the previous diagonal, where the trade had a 3:1 risk-reward to next price or the next counter brick

Renko Method Training Video194

 Renko Trading Strategies Training Video2

  • Gold Renko chart trading and review, starting with discussion of price and if/how they are relevant to the right of a vertical line, and then going back to the left to determine where they came from
  • Understand how the price action at these prices on the right side is confirming their continued relevance and that they belonged on the chart as trading prices
  • Trading price importance as a trade setup filter, but also for trade management – price may be a profit target, as well as a hold on retrace before a profit — consider a price extreme reverse that goes up 2 bricks but then retraces 4 ticks – the trade has not been stopped out and there is a double bottom-price hold
  • Price-indicator combination Renko trade setup – any time we have a combination of setup components, we have increased the odds of the trade

Renko Method Trading Training Video191

Renko Member Trading Group

Enjoy these videos, along with the rest of the articles and videos in the Renko Chart Trading Strategies Website; I will be continually adding new content.

If you have any questions or would like more information, email me at barry@renkocharttrading.com

And if I could help you with your Renko chart day trading and you would like to join the member trading group, you can click the link to join below.

As a member, you will receive my trading indicators that have been coded for NinjaTrader and TradeStation.  As well you will get access to all of the method member training videos; there are 2-3 new videos that are done each week.

Join the Renko Member Trading Group

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11 Comments

  1. Hello Barry I found your renko combination of indicators video is very useful. I know about renko little bit & developed AFL to do robo trading in MCX crude oil intraday trading. But to capture the trend I need the additional indicator. You have mentioned about momentem dots green / red. But i could not find the same in MT4 chart. can you suggest me where can i get ?

    • Balaji, the renko indicators have been developed for our method and are accessed by members of our training group. These indicators have been coded for ninjatrader and tradestation but sorry, they are not available for MT4.

  2. Barry, great site and lots of good training material – A class!
    I started researching Renko charts before I found your site. I like the fact that Renko is price based (not time based) and helps in the reduction of noise. I’m new to trading so all your material is good for my study and then for possible implementation.
    I would like your response on a couple of things as related to your training materials. Some background:
    1) I’m not a day trader, so classify me more as a swing trader (days – weeks) that would act on chart closing prices. It seems I would focus on swings (pull backs within the trend) and also breakouts.
    2) The amount of info you present is over whelming, but good. Given my trading orientation, could you give me a list or map of applicable training videos (I have only reviewed 3 videos). I believe your materials could be applicable or with some modifications to swing trade.
    3) Have you ever traded Renko 20/50 EMA crossovers?
    So I’m ready to start your training on Renko charts. Just to let you know I’m no expert, so you can tell me if I’m all wet on my ideas and approach! But I sure like what I see of Renko.
    Regards, Robert Schoo.

    • Hi Robert, thanks for contacting me and the words you had about the depth of the materials on the site; I appreciate it.

      I agree that there are benefits for using a Renko chart in day trading, and yes for position trading too, which seems to be your preference – that being said, I do both of these but try to do so using the same method basics as much as possible.

      I also received your email and will reply to you at greater length,
      Barry

  3. Hi Barry,

    I’m new to this forum and trying to create a strategy that would work for day trading.
    I use Metatrader for charting and would like to know if you have any indicator for MT4/MT5.Thanks

    • Hi Kumar,

      No, I only have coded the indicators for NinjaTrader and TradeStation. I could only suggest that you use NinjaTrader for charting, which you can download for free – and then do your actual trades using the platform you are using now.

    • These indicators come as part of subscribing to the membership group…

      As a member you will receive my trading indicators that have been coded for NinjaTrader and TradeStation. As well you will get access to all of the method member training videos; there are 2-3 new videos that are done each week.

  4. Something else that I forgot to mention. You might also want to look at the NQ for another index to trade – and I actually having been trading gold or oil more now than an index. The point is to have more than one contract to trade and pick the one that is moving the most and giving the best setups, instead of being locked into only 1 — I would suggest that regardless of the method that was being traded.

  5. Trying to turn my YM trading around. Just cannot find a strategy that works.
    Using TOS not Ninja.
    Any suggestions to get me in the right direction?
    Thanks
    Mark

    • Hi Mark,

      I would say that in all my years of trading, the renko trading method has been the clearest to teach and it has worked well. Have you looked at NinjaTrader? You can use their charting program for free [plus the cost of data]. And you could still do your trading in TOS if that is what you would choose to do.

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