The traditional Candlestick Chart uses the open, high, low, and close of each session. The main difference between these two types of charts is the information they show and how they are formed. In essence, Candlestick Charts and Renko Charts are very different. How Are Renko Bricks Formed And Calculated? It’s not hard to guess why it was named like that, as the Reno Charts present price movements using rectangles that look just like bricks. The name of the Renko Chart comes form the Japanese word “renga”, which literally means brick. The Renko Chart is also very popular, but unfortunately, it isn’t included in the MT4 platform as standard. ![]() I am sure you know about the Japanese Candlestick Charts, Bar Charts, Line Charts. What actually is a Renko Chart? Simply speaking, it is a type of price charting. ![]() ![]() The Renko Chart was originally developed by Steve Nison and first introduced to the world in his book “Beyond Candlesticks”. Introduction to the Renko Charts Indicator
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