Misleading Renko Charts on Kite Zeroda

#1

Please see the below Attached images Image 1 - Is 1 min renko chart ( 5 points ) and Image 2 is a 15 Min Renko Chart ( 5 points ).

Now as we all know they should just be identical, as renko charts are unaffected by time factor. But both these charts have different number of bricks ( see the last brick which is forming at the current price ).

Additionally, I am not sure whether these Renko Charts are accurate or not or maybe are they updating realtime or not.

Some one from Zerodha Kite team please help.

#2

Even though time doesn’t have a bearing on Renko charts, The default range of Renko charts is calculated using 300 aggregated bars of data on the chart (i.e. about a year for daily charts, and about 5 hours on a minute chart). The longer timeframes have more data. So, the range will be different for different time frames.

For the latest renko bar, The retracement in Renko charts can occur all the way back to any bar in the current selected chart time frame.

Bars from prior periods will always remain permanent (fixed). So, until the selected chart period is complete, the bars within the period will be recalculated as new data comes in and Renko bars will be plotted accordingly.

#3

Thanks, It helped. Now i am just plotting 5 point Renko Chart on 1 Min TF, giving me entry & exit points ( my purpose ) let me know if what i am doing is the best option out there.

Thanks Again,
Vijay

#4

Hi! How to tell when a Renko brick is constant, won’t change? I am at time frame 1 min. I understand that within a time frame, Renko bricks my retrace and altogether disappear–that only after the time frame is complete do bricks in that time frame become constant. This doesn’t seem to be happening: for example, today at 13:13, I had three Renko Bricks, the left two constant, the right one variable. At the same time, how is it that two bricks are constant but the third one is not? This can only be if the Kite ticker is on a different countdown timer than the time at the bottom of the chart. If you know, could you please shed some light on this? I’ve also put in a Kite ticket. Thanks!

#5

The retracement in Renko charts can occur all the way back to any bar in the current selected chart time frame.

Bars from prior periods will always remain permanent (fixed). Until the selected chart period is complete, the bars within the period will be recalculated as new data comes in and Renko bars will be plotted accordingly.

This is how it works on Chart IQ charts, it’s how the libraries are built.

#6

Renko has nothing to do with time…if you have 15 brick size , 15 points less or more than previous Renko high low is needed to print the brick…

Renko never considers time and various tf are just a gimmick

#7

@Kshiteesh_Saralaya

from what point does the clock start for completion of the chart period before the renko bricks are permanent.
Say, if one brick is formed, then in a 5 minute chart does it take 5 min for it to become permanent or the time periods are pre-defined like in a regular candle chart i.e., 9:15,9:20,9:25,etc…??

#8

Chartiq is not plotting the renko charts properly, use TradingView and the charts are clear.