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RENCO

 
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batson.patrick

RENCO

Thois probably a remedial question, but can someone please explain 'renco'? I'm hearing it used but not finding the definition. Thx!

Tue, 11/13/2018 - 5:45pm
 
lukaszlr27

Hi,
Renko instead of 'renco'. A Renko chart is a type of chart, developed by the Japanese that is built using price movement rather than time and volume. It is thought to be named for the Japanese word for bricks, "renga," since the chart looks like a series of bricks.

You can define the brick size, eg 2 pips, 10 pips, 20 pips etc.

 
mckay

Hello Patrick
The quick answer to "What is Renko" is that it is another form of displaying price. It attempts to take the time factor out and to just display price movement by using blocks (the size of which varies) rather than using candlesticks. For a further and better explanation you can check Babypips.com or Investopedia.com I hope that helps you
I wish you the best

 
batson.patrick

Thanks very much to you both! Makes sense.

 
forexace

renko / tick / range bars are time independent;
renko: no wick, just blocks;
tick n range: with wicks...i prefer range bars, useful for trend-line/channel-line n median-line drawings

 
Rookie

@forexace, example plz? an image would be excellent.