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Renko Chart - Boxsize and Time Frame

  • #21
  • Aug 16, 2020 9:00am Aug 16, 2020 9:00am
Quoting AkuMK
{quote} I know this is an old post. Just for future references. 1. What is the difference between Renko Boxsize of 3 with 3minute time frame VS Renko Boxsize of 3 with 1minute time frame? Answer: New Renko bricks, depends on our box-size setting (3 or 5 pips, etc.), will print at once according to time frame that we set. I knew it because I tested it. For examples: a. When we set Renko box-size 3 pips with 3 minutes time frame, and price goes up 15 pips, it will print 5 green bricks right. However, it will not print immediately,...

AkuMK, Saw your explanation on the renko chart which populate with different timeframe.

1. What if we use 10 renko bricks boxsize with monthly timeframe?
2. What if we use monthly time frame to populate the renko chart? Is it we need to wait until next month only it will draw out all the renko bricks?
  • #22
  • Aug 17, 2020 4:26am Aug 17, 2020 4:26am
Quoting joelloh
{quote} AkuMK, Saw your explanation on the renko chart which populate with different timeframe. 1. What if we use 10 renko bricks boxsize with monthly timeframe? 2. What if we use monthly time frame to populate the renko chart? Is it we need to wait until next month only it will draw out all the renko bricks?
No, the price will still running, but will not give the accurate reading compare to 1 minute time frame. At the end of the Month, it will print a "pretty" bricks, all at once.

See attachments below. Both use 10 pips box-size, but a) Monthly time frame, b) 1 minute time frame. Huge different.
You can test yourself for in-depth understanding.

Moga membantu.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: a.JPG Size: 196 KB
Click to Enlarge Name: b.JPG Size: 273 KB
  • #23
  • Aug 17, 2020 5:03am Aug 17, 2020 5:03am
Quoting AkuMK
{quote} No, the price will still running, but will not give the accurate reading compare to 1 minute time frame. At the end of the Month, it will print a "pretty" bricks, all at once. See attachments below. Both use 10 pips box-size, but a) Monthly time frame, b) 1 minute time frame. Huge different. You can test yourself for in-depth understanding. Moga membantu. {image} {image}
AkuMK, Thank you for the great image comparison. It really explain it clearly.

I have try on myself on comparing the Renko generate from H1 & M1, It seems like your explanation that larger timeframe really lack of data, it is true.

By the way, i can see you are using STG Renko chart, do the Renko chart accurate and just need only 1 Expert Indicator to generate all pairs of Renko?

Terima Kasih
  • #24
  • Aug 18, 2020 4:21am Aug 18, 2020 4:21am
Quoting joelloh
{quote} AkuMK, Thank you for the great image comparison. It really explain it clearly. I have try on myself on comparing the Renko generate from H1 & M1, It seems like your explanation that larger timeframe really lack of data, it is true. By the way, i can see you are using STG Renko chart, do the Renko chart accurate and just need only 1 Expert Indicator to generate all pairs of Renko? Terima Kasih
Yes, I'm using STG Renko by @tgdrela1 (https://www.forexfactory.com/thread/...erator-for-mt4).

Accurate, but, when we open the mt4, we need to play with box-size first (increase & decrease, then set our true box-size) to "warm-up" it. Read more here (https://www.forexfactory.com/thread/...8#post12989328). Explained well by @Hutch.

1 indicator for generate 1 pair Renko chart. However, with STG Renko, we can put as many STG Renko as we like in one standard pair chart (e.g EU, GU, EJ, doesn't matter) to generate other pair Renko chart. Traditionally, if we want to generate EU Renko chart, we must put the indicator at EU pair. GU at GU, EJ at EJ. You get the idea. With STG Renko, even we put the indicator at EU pair, we can still generate GU, EJ, etc Renko charts. More organized and clean. See attachment below.

Hope this helps.
Moga membantu.
Attached Image (click to enlarge)
Click to Enlarge Name: STG Renko EU.JPG Size: 221 KB
  • #25
  • Aug 19, 2020 1:11am Aug 19, 2020 1:11am
I have been testing many renko chart, most of them consume CPU resource much. Can anyone suggest me renko chart indicator which less CPU usage?
  • #26
  • Sep 27, 2024 3:09am Sep 27, 2024 3:09am
hi fronds
new to this platform
can any one briefly guide me renko box size n timeframe for xauusd or btcusd
also that one or two indicators which helps us for entry & exit

kindly explain

lots of love
  • #27
  • Last Post: Oct 26, 2024 7:25am Oct 26, 2024 7:25am
Sujit Bhai, I am too searching for this too, but what I think renko box should be greater then spread, and there is no upper limit. It depends on your trading style, if you are a scalper then obviously it should be smaller and if swing trader then size should be big. Average high low in chart or ATR based Renko can be the solution for swing trader.
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