Hi there, I’ve a question. If renko chart is all about price brick and it has nothing to do with time, then why does it confuses with different time frames like 1 min, 5 min and 15 min? I’m posting the screen shots of kite mobile.
the brick within the period will be recalculated as new data comes in and Renko bars will be plotted/retraced accordingly.
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Renko charting is similar to point-and-figure in that time doesn’t play a role in Renko charts. Renko blocks (or bricks) are plotted using the following rules:[3][4]
- A brick size is determined, e.g. 10 points. All bricks are drawn to be of that size.
- Once the price surpasses the lower or upper border of the current brick by the brick size, a new brick is drawn either above or below the previous one — never on the same line.
- The new brick is always drawn farther to the right on the horizontal axis.
- If the price surpasses the previous brick by more than one chosen size, the respective number of bricks is plotted on the chart.
- Partial bricks are not plotted until complete brick size distance is covered by the price.