Renko Trading Chart

Renko Chart And Tick Chart - Which One Is Clearer To Trade?
Trading Renko Charts

Renko Trading Charts: Have You Traded With Renko Charts?

Have you traded using Renko charts? These charts are made of bricks of the same size instead of using a timeframe or tick volume to make bars. The uniformity of these bricks line up at 45-degree angles can remove chart ‘noise’ seen in the different sizes and overlapping bars of other charts. This adds clarity to reading the chart.

 

This additional clearness of the Renko charts made trade setups more definable and easier to see for use in a trading method. And after many years of using tick charts, a Renko chart trading method was developed to use instead.

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Renko Trading - Real Time Trade Entry
Renko Trading Method

Renko Chart Trading: Renko Trade Setups And Entry Bricks

Renko chart trading uses price bricks and is thus affected by their real time price action. This is especially a factor in determining when you know you have Renko trade setups and can enter trades.

 

The main reason is that the Renko price bricks are completed in different amounts of time. Additionally, the rate at which they complete is not the same for the whole brick. Thus, it is important to see the trade setups as soon as possible.

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Renko Chart Brick Price Action
Renko Trading Method

Renko Brick Price Action And Trade Setup Entry

Using Renko brick price action in real time can allow for earlier trade entry and have the effect of slowing down the Renko chart. Compare this to waiting for a Renko entry brick to complete, which can happen very quickly.

 

A trade can be placed while the brick forms once the Renko setup has all its components. And then, if the brick doesn’t complete, cancel the trade.

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Are Renko Bricks Too Fast To Trade
Renko Trading Method

Renko Trading Charts: Are Renko Bricks Too Fast To Trade

Renko trading charts and bricks can appear too fast to trade. At times, all chart types seem too fast. But Renko charts are unique when comparing completed bricks to real-time price action before a brick is formed.

 

Considering a 3Renko chart and a completed red brick. This brick can begin as a green brick 5 ticks higher than the previous close or 8 bricks of price action when the red brick is formed. Regardless of how long this process may take, it can make the Renko bricks appear too fast.

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