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Renko Chart

Written by Leah Klar Friday, 07 August 2009 13:10
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The Renko (or Brick) Chart was developed by the Japanese.  Similar to a Point and Figure Chart, this style only highlights price movements (not time and volume). A Renko chart is created by placing a "brick" in the next column once the price surpasses the top or bottom of the previous brick by a user defined amount.

Green, Hollow bricks are used when the direction of the trend is up, Blue, solid bricks are used when the trend is down. Like a Point and Figure chart the Renko Style is useful in identifying major support and resistance levels.

 Renko Chart Properties

Upswing:  Allows you to adjust the colour of the upswing (hollow) bricks.

Down Swing:  Allows you to adjust the colour of the down swing (solid) bricks.

Chart Style:  Allows you to change the Renko chart to a different style (Bar, Candlestick, etc).

Time Frame:  Allows you to change the time frame of the chart (1 Day, 1 Week, etc).

Data to Load:  Allows you to adjust the amount of historical data loaded on the chart (5 Years, Decade, etc).

Box Size:  This value determines the price range covered by each brick.  For example a Box Size of 0.10 is equal to 10c

Data File Properties:  Contains information on the data file being used to generate the chart (Folder location, decimal settings, etc).

Transparency:  Allows you to adjust the Transparency of the Renko Chart.

Visible:  Un-tick this checkbox to hide the Renko Chart from view.

Last modified on Tuesday, 16 March 2010 13:06