Renko is another Japanese chart type, this time ditching candlesticks in favor of “bricks.”
Rather than using price and time intervals for each candlestick, each brick focuses on price movement only
Like Heiken Ashi candles, Renko is said to filter out intra-session noise and better and more clearly represent trend strength within price action.
Renko charts may appear very unusual at first glance. For example, the below image is the same as the charts above, only set to Renko instead of line, or candlestick charts.
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
