WHEN A OPPOSITE BLOCK FORMS AFTER A TREND MAKE SURE TAKE IN CONSIDERATION PRICE HAS JUST MOVED 200 PIPS NOT 100. A BLOCK FORMS 100 PIPS ONLY ON A TREND. IF A RED BLOCK IS FORMED AFTER A LONG GREEN TREND THAT RED BLOCK IS SAYING PRICE JUST MOVED DOUBLE.
THANK YOU! DOES THE TIME FRAME I USE MATTER? I LIKE TRADING IN 15 MINUTES - WHAT MOVING AVREAGE TO USE IN 15 TIME FRAME ( and what would be the setup for the renko chart in if i am trading in 15 minutes)
@@zorbat5 The time selected does make a difference. For a renko bar to form it must be in that price range when the time is checked otherwise it will repaint later.
@@zorbat5 yes you should ues multiple timeframes, day and 4 hours charts to show you the trend direction and 1 hour to enter. Make sure all three are on a same trend all green or all red (assuming you want to short). Make sure to enter at a support or resistance in 1 hour time frame, after the 2 brick is printed completely. What I just stated above is for swim trade only, inface from my experience Renko in best for swim trade. This is not a holy grail but it works and you best friends are support/resistance. Also remember to keep checking on news events, earnings. News can change direction in seconds. Hope this helps. ATR14
A new renko brick will only form if it covers that price remember and also closes above or below the new brick form price after the 1h candle closes . traditional never repaints
@@natefxpro2973 i tried 5 minute, 1 minute timeframe, in uptrend brick forms above but if price reverses within few seconds then the new brick gets vanished, same issue with downtrend, i use tradingview, how to manage this issue?
@@durgeshvj4749 I use the atr setting for renko to do 1 point per brick or 4 ticks per brick on a 1 min time frame. It will repaint as you call it due to market trying to whip you out and take your money. Use atr stop loss on time frame. Multiple charts needed to trade in multiple time frames with renko to place trades. I use atm on ninja risking 20 tick with 40 tick target. At 2 to 1 risk reward only gotta be right 35% to make good money. Good luck. Conviction comes from multiple sources and once convinced of direction set a wide stop and smaller size until you get the swing of it. Hope I helped if you read this. It's worth learning.
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The Japanese truly are innovative coming up with things that make your way more convenient. Renko is great for trading. Nice breakdown.
After the market move 10 green bars you want me to enter to catch 2 to 3 bars and that’s if it continues !
🧐 + win forex signals
Patterns are easy to identify and utilize with renko bars. Regular candles have too much noise.
I use bj key level most awesome for support resistance levels automatically on trading view.
Same here! Love the bj key indicator.
WHEN A OPPOSITE BLOCK FORMS AFTER A TREND MAKE SURE TAKE IN CONSIDERATION PRICE HAS JUST MOVED 200 PIPS NOT 100. A BLOCK FORMS 100 PIPS ONLY ON A TREND. IF A RED BLOCK IS FORMED AFTER A LONG GREEN TREND THAT RED BLOCK IS SAYING PRICE JUST MOVED DOUBLE.
THANK YOU! DOES THE TIME FRAME I USE MATTER? I LIKE TRADING IN 15 MINUTES -
WHAT MOVING AVREAGE TO USE IN 15 TIME FRAME ( and what would be the setup for the renko chart in if i am trading in 15 minutes)
No, because the renko bars form by the movement of price, not time. Watch the video again and all is explained.
@@zorbat5 The time selected does make a difference. For a renko bar to form it must be in that price range when the time is checked otherwise it will repaint later.
@@zorbat5 yes you should ues multiple timeframes, day and 4 hours charts to show you the trend direction and 1 hour to enter. Make sure all three are on a same trend all green or all red (assuming you want to short). Make sure to enter at a support or resistance in 1 hour time frame, after the 2 brick is printed completely. What I just stated above is for swim trade only, inface from my experience Renko in best for swim trade. This is not a holy grail but it works and you best friends are support/resistance. Also remember to keep checking on news events, earnings. News can change direction in seconds.
Hope this helps. ATR14
Your chinese accent is funny. In a good way :)
Reminds me of Buk Lau from Ownage Pranks. Like a someboooodie
thanks, can you guide me to run my ea on Renko chart?
thanks, can you guide me to run my ea on Renko chart?
Can this be used for stocks also or only forex ???
Great video and very well explained, thank you!
Renko looks interesting.
🧐 + win forex signals
👍
renko bar has repaint issue, if we use 1 hour timeframe, the new renko bar does not form, it goes up and reverses back, how to manage repaint issue??
A new renko brick will only form if it covers that price remember and also closes above or below the new brick form price after the 1h candle closes . traditional never repaints
@@natefxpro2973 i tried 5 minute, 1 minute timeframe, in uptrend brick forms above but if price reverses within few seconds then the new brick gets vanished, same issue with downtrend, i use tradingview, how to manage this issue?
@@durgeshvj4749 I use the atr setting for renko to do 1 point per brick or 4 ticks per brick on a 1 min time frame. It will repaint as you call it due to market trying to whip you out and take your money. Use atr stop loss on time frame. Multiple charts needed to trade in multiple time frames with renko to place trades. I use atm on ninja risking 20 tick with 40 tick target. At 2 to 1 risk reward only gotta be right 35% to make good money. Good luck. Conviction comes from multiple sources and once convinced of direction set a wide stop and smaller size until you get the swing of it. Hope I helped if you read this. It's worth learning.
@@michaelgmyhan6277 thanks man, if u r using ninjatrader, why dont u use unirenko? i have seen videos saying unirenko is better than normal renko
Try 1sec timeframe for renko
Great video. Thanks.
Nice
Thank you! You are a really good man...
Good but EA make life more easier
EA?
good video
Thank you 🙏
👍🏻