What Is Renko Charts In Forex

Have you ever hear of Renko charts?

It is relatively new to me to as I  came across it in one of my forex training module.

So, i decided to to look futher into it.

Renko means brick in Japanese.

Every brick is the same size and a new brick is drawn one brick size below or above the brick before it. Bricks that are adjacent never overlap.

Every brick starts where the previous brick ends.

Traders can specify the size of bricks in pips.

Price can move above and below the previous brick until the minimum number of bricks is met. This may be a surprise for most traders who are used to a new candle being formed at a specific time.

We can see 13 bricks in a row heading up going into the Bank of England rate decision.

Once the decision is released the bricks changed in color from blue to red and there was a lower high leading to a 13 brick decline.


Here are 3 benefits that we can get from Renko Charts

- Renko harts filter out the noise of wicks and are based solely on price without time.
- Renko charts clearly indicate support and resistance.
- Can be used to confirm trends or can be traded on their own.

Yours sincerely,




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