How to use Renko Charts to Trade Forex

Renko Charts are a Non-Time Based price trading chart.Renko is a derivative of the Japanese word Renga. It means brick. On the Renko Chart a new brick forms as the price moves up or down by a specified amount.

2_Forex_Trading_BuzzInstead of creating a bar on the price chart at the end of a discrete time interval (i.e., as with a candlestick or similar chart type) a bar is created when price has met a specific criteria after moving upward or downward. The advantage of chart bar formation that is price specific rather than time specific is that most visual noise apparent on the traditional time based chart, the jittery price movement of bars, is eliminated. The result is that price consolidations, price support, price resistance, price trend lines and price channels can be identified and visualized quickly, and more accurately.

Read more cellulite articles:

Previous post:

Next post: