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.