Renko

The Renko chart is plotted with bricks that are constructed based on price movement rather than a fixed time interval. A new brick is added when the price moves by a specified amount, called the brick size. This allows Renko charts to filter out smaller price movements and focus on significant trends.

Calculation

The Renko chart is calculated using the selected brick size. Each brick represents a price movement equal to the brick size.

A new bullish brick is formed when the price moves upward by at least one brick size from the previous brick's Close. A new bearish brick is formed when the price moves downward by at least one brick size from the previous brick's close.

The brick values are calculated according to the following rules:

• Open = The previous brick's Close.

• Close = Open + brick size for a bullish brick, or Open − brick size for a bearish brick.

• High = The higher of the Open and Close values.

• Low = The lower of the Open and Close values.

If the price moves far enough to form multiple bricks within the same period, multiple Renko bricks can be created.

Brick size

The pre-determined brick size can be modified in Renko settings by clicking the next to the chart type name.

Coloring

Renko bricks are colored depending on whether the Close price is greater or lower than the Open price. The coloring patterns are:

Border

• Close price > Open price - Bull border (green by default)

• Close price < Open price - Bear border (red by default)

Body

• Close price > Open price - Bull (green by default)

• Close price < Open price - Bear (red by default)

You can select alternative colors for brick body and borders in Settings> Colors.