Want to test out automated trading strategies on offline Renko charts? Read this step-by-step guide on how you can backtest trading strategies on Renko charts with 99% modeling quality.
The Renko EA is an expert advisor and is in fact a better option (or can be used alongside) than the RenkoLiveChart_v3.0 indicator. This EA works the same way as the RenkoLiveChart indicator but comes with some additional features. More on this Renko indicator for MT4
The MT4 trading platform is undoubtedly one of the most popular trading platforms for the average retail trader. Despite the popularity and the many revisions to the MT4 trading platform, there has been little to no improvement when it comes to accommodating other chart types.
Median Renko charts might come across as a fancy new addition or modification to the traditional renko charts. In this article, we explain the main differences between the Median Renko bar and the traditional renko bars and further explain if the Median Renko bars offer an additional edge to the trader.
Renko charts, despite their simplicity can be disastrous if a trader does not have a proper understanding of how the Renko charts’ boxes are plotted. In the previous article, I mentioned how Renko charts can be configured based on the box size.
A subjective approach to trade always carries the risk of misreading the charts or price action. Fortunately, renko charts offer an objective approach to trading and helps not just with forming a trade analysis or bias but also helps with trade management. This article explains more on this topic.
Trading price action can be quite demanding. With Renko charts it is a lot easier, but on the same note, price action trading with renko charts requires a lot of patience. Read this article along with an example that illustrates a renko chart price action trade set up.
Once you are familiar with Renko charting, the next question that comes to mind is whether to use a fixed box renko chart or an ATR based renko chart. In this article, we explore the differences between the two and also their pros and cons.
Renko Charts offer a stress free approach to day trading. In this article, learn the basic building blocks of Renko charts, how the bricks are plotted. By the end of this article, you will understand renko charts and how price is plotted.