Renko

[andyf52]

If Renko charts rely solely on price, and time is not involved, why are intra day, daily, and weekly charts, using the same box size different

rgds

 

[billyjean]

why the same size ? if it shown at different box size, what different with a chopped shadow-candlestick ?
i dont use renko chart as my primary trading chart, but i do learn to use renko. it means to reduce market price distortion by put into a more simple charting, boxed, same size. when your trading style are price action related, a short period exit strategies, its important to get rid any price disruption, this where renk charting taking account.

 

[malaguti]

If Renko charts rely solely on price, and time is not involved, why are intra day, daily, and weekly charts, using the same box size different

rgds

andy, imagine the closing price at the end of the week is 100 and your brick size is 5 points. during the week price rises to 115 (3 bricks) and goes down 1 brick to 110, then back up again to 115 and then closes the week down to 100.
on a weekly chart, you have no movement, however your lower timeframe will determine how much of this price action is shown on your renko chart.
Hope this explains.
Even though renko is non time based, the data is still packaged in units of time, thats why you get different charts depending on different timeframes.