Renko Trading Basics

Renko Chart Bar Types – Standard And Custom Mean Renko Bars

There are 3 Renko chart bar types that can be used for day trading: (1) standard bars (2) standard bars with price wicks (3) custom bars with a mean price offset. This article will discuss the different Renko chart bars and whether there is any reason to switch from the standard Renko trading charts we currently use to day trade.

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Renko Trading Strategy

What Is The Best Renko Trading Indicator For Day Trading

When I am asked what is the best Renko trading indicator, I answer that I don’t think there is a best single indicator. Instead choose a combination of related Renko indicators that work together and can be combined into a trade setup that gives price continuation.

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Renko Trading Strategy

Renko Day Trading Indicators Combination Strategies

Using a combination of Renko day trading indicators for your trade setups, instead of trying to find a single best trading indicator, will lead to more effective and profitable trading. I really haven’t seen a best indicator that could be traded mechanically as a system.

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Why Day Trade Renko Charts Instead Of Tick Charts
Renko Trading Basics

Day Trading Renko Charts Instead Of Tick Bar Charts

Why Start Day Trading Renko Charts?
 

After many years of day trading tick bar charts, the decision to switch to day trading Renko charts was based on the clarity of the Renko bricks fixed price moves -vs- the irregular and random size of tick bars.

 

Additionally, besides the Renko charts method being simpler to trade than tick bar charts, it has also been clearer to teach other traders.

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