boytoy wrote: Wed Sep 20, 2023 12:28 pm
Saw a post which seems like a common theme here why do you guys all like using Renko charts/bars?
Doesn't it repaint?
I know
it looks good but is it
good?
Seriously asking. Quoted post below for ref.
Renko just smooths out price action so charts looks cleaner and simpler to follow, the trade off is it also disguises price action signals though Renko does give signals of it's own.
Renko doesn't repaint on a straight run but can sometimes readjust the time based history bars on restart or reset and so might condense sideways action. In the pic below is a restarted chart on the left and in this instance there is no real difference to the chart that's been running on the right.
There are many Renko chart builders, some of very dubious quality, in the zip file below are some of the better ones I've found over the years.