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Renko Chart is charting technique from Japan, "Renko" derived from Japanese "renga" (brick). Renko charts focus only on price movement, completely ignoring time and volume. Each "brick" represents fixed price movement; new brick drawn only when price moves by set amount.
Brick Size = Fixed price movement (like 10 points, 0.0010, etc.) New brick formation condition: Up brick: Price rises more than brick size Down brick: Price falls more than brick size Reversal condition: Price reverses more than 2× brick size Note: Renko ignores time; one bar may produce multiple bricks, or multiple bars may produce no bricks
Fixed Brick Renko: Uses fixed price movement
ATR Renko: Brick size dynamically adjusted based on ATR
Percentage Renko: Brick size based on price percentage
Renko + Time: Overlays time information on Renko chart
Consecutive Up Bricks: Strong uptrend, hold long
Consecutive Down Bricks: Strong downtrend, hold short
Brick Color Change: Trend may reverse
Brick Reversal: Price reverses more than 2× brick size, confirms reversal
Support/Resistance: Horizontal lines clearer on Renko
Pattern Recognition: Double tops, double bottoms easier to identify
Trendlines: Drawing trendlines more accurate on Renko
Renko charts make trends and support/resistance clearer by filtering time and minor price fluctuations. Renko is particularly suitable for trend-following strategies; consecutive same-color bricks indicate strong trend. When brick color changes, it's potential trend reversal signal. Support/resistance and chart patterns are clearer on Renko than traditional candlesticks. Many traders use Renko to identify trends, then seek precise entry on traditional candlestick charts. Renko brick size setting is very important, needs adjustment based on market volatility.
Filters market noise, clearly displays trends, support/resistance more obvious, pattern recognition easier, reduces false signals
Completely ignores time information, doesn't show volume, brick size setting subjective, may miss important time-related events, not suitable for precise entry timing
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