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Renko charts are only related to price movement. A new brick appears when the price goes beyond the upper or lower limit of the previous brick by the specified distance.

Parameters 

  • Brick size – the size of the bricks;
  • Offset – the offset of each brick to be added. When setting the shift value equal to half the size of the brick, the so-called “average Renko bricks” are obtained, an example of which is shown in the second screenshot;
  • Amount shifted – the number of bars to shift to the left when a new brick appears and the number of bars to shift to the right when a new bar appears on the main chart. Lowering this value can reduce the testing time when using this indicator in Expert Advisors.

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Published

10 January 2013

Updated

Current Version

1.0

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