here is simple trading system which can be used to trade intraday, positional or Investment. This can be done easily with mobile app as well. no complex trading setup like multi monitor not required.
below chart is for intraday trading.
Select Renko Chart Type
Set Brick Size to Auto by clicking settings button
Select ATR trailing Stops from Studies
use Red and Green marks as Entry / Exit and as trailing stop loss.
October 1, 2017, 3:52am
Fantastically explained haribabu
Just for further simplicity asking you that what should b renko brick size and timeframe (although in renko…time isn’t of much matter) to avoid repainting of bricks… Thanks
Renko is good with 1MIN time frame. with this you can set minimum stop loss limit.
Ignore the current brick under formation. You should look at only Completed bricks.
for Brick size select Auto. That will set ATR based Brick Size.
Time Frame Selection
INTRA DAY - 1 MIN
POSITIONAL - 1 HOUR
INVESTMENT - 1 DAY
October 1, 2017, 4:00am
Great… That was quick and helpful
why auto selected set range changed for my charts, i am using same script with 1m time frame
hence charts also changed !!
auto select will change with last 14 candles data. it is dynamic. not fixed. if ATR of last 14 candles changed then brick size also will change accordingly.
I know its not fixed but our charts are from same time period and same script hence I think they should same
You are correct. when I open it in Kite and popout it is showing different. that is something to do with bugs in Kite charting.
@siva @nithin kindly look into this. When we use auto select chart refresh showing different value for brick size.
@ganesh07 did you try with any other platform ?
@haribabu it shows dif value for me too
I think in kite if we zoom in and out the chart time period will change. It may be due to that. In pi we can select the chart as 1/5/10days ect. But in kite its changing as per zooming.
I don’t have trading account with other brokers
October 6, 2017, 12:37pm
Has this renko chart worked for nifty for you on 1 minute chart with say 60% success rate
We need to use 3.1383 setting for Renko chart every time and every script? Should we use it for Option trading?
October 18, 2017, 5:53pm
Thanks a lot haribabu sir, Could you please eloborate more, so that we can learn more about Renko
I have the problem with trading renko, as they keep on disappearing, and for a beginner its frustrating
June 22, 2018, 12:58am
Can anyone update on the setting to be used for Renko chart.I still face the same issue when i zoom in on Renko Chart
why renko shows different high or low value than candle stick ?
i was checking low for nifty fut nov 18 1hr, box size 15 for dt. 12 nov . low is showing 10500
with compare to candlestick 1 hr low is showing 10490 and on dt 13nov low showing 10460
so it is showing 40 point difference ? why it is so ?
i checked it with last two months data .and for both high and low value compared with candle stick it is showing difference.
pls clear me this.
In your Charting Platform, Its auto refresh mode or Manual Refresh mode. In MCX - Crudeoil Intraday trading, What is Time frame and Which time Open the Chart (i.e 9,00 AM or 10.00 AM or other Time.
Continuing the discussion from
Trading with Renko Charts:which charting platform/app is this??