New Members: Be sure to confirm your email address by clicking on the link that was sent to your email inbox. You will not be able to post messages until you click that link.


If renko charts are only based on price and time plays no part, then if chart parameters are the same why is a daily chart different to a weekly chart.


  • Not a Renko user, so others correct me if this is not right:

    There are more data points in a daily versus a weekly chart (5 versus 1 if using the close, 10 versus 2 using high-low), so more opportunities for boxes to get drawn if price fluctuates a lot during the week.

    The difference would probably vary depending on box size and whether you choose close or high-low.
  • One of the public chartlists suggested day traders use Renko charts. I think this is because reversals can be spotted. I figure the same is true for Daily and Weekly. I think Renko removes a lot of details and information that Candlesticks would show since Candlesticks are more sensitive.
Sign In or Register to comment.