RenkoKings

  The  Renko trading strategy  has been popular amongst traders due to its capability of eliminating market noise and showing actual price patterns. Renko charts are constructed solely based on price changes, unlike the traditional candlestick charts, which are constructed based on time intervals. This renders them suitable for ascertaining trends, reversals, and breakout opportunities. Yet, there is one very important aspect that defines their accuracy, and it is the size of the box. The use of the correct box size can make the difference in the best trading outcomes. Understanding the Renko Charts Box Size In a Renko chart, a “brick” or a box corresponds to a specific amount of price movement. The addition of a new brick is only possible when the price shifts in that direction by that amount. A smaller box size will capture a greater number of price movements and create more frequent signals, whereas a larger box size will eliminate smaller movements and concentrate on ...