Tag: Renko

Renko is a trading system that focuses on Price Action & Volume to generate buy & sell signals. It has been used for centuries and has become increasingly popular due to its simplicity and accuracy. Renko charts use fixed-sized boxes for price movements and a predetermined number of box sizes to define whether price movements are up or down. Trading with Renko allows you to filter out market noise, reduce the amount of time spent analyzing the market, and focus on major trends in the market, making it an ideal choice for short and long-term trading.

Forex Trading Strategies

How to Write Renko Chart for MT4: A Beginner’s Guide

How to Write Renko Chart for MT4: A Beginner’s Guide
6 min read

Renko chart trading is a popular technical analysis tool used by foreign exchange (Forex) traders. Renko charts are constructed by placing bricks of a fixed size on a regular price chart. When a certain threshold is breached in the stock or currency market, a new brick is placed on the Renko chart. While these charts can be used to interpret overall trends in the market, the main benefits of Renko chart trading are their ability to filter out insignificant market noise and focus on the big picture. For those looking to trade Forex with Renko charts, MetaTrader 4 (MT4) offers several options. By following the steps below, traders can quickly and easily add Renko charts to their MT4 platform.