Of course, renko charts solely work on movement in price where time is ignored...kinda like a "pureprice" way to chart
Bricks are only created when price moves in a direction by a set number of pips, in this case 5. I find it easier to spot support and resistance levels and it seems to work quite well with the system you've developed (I've only scrolled back a few weeks on Eur/Usd).
I just find it easier to read and may help traders who get a little confused when price is ranging.
You can download the script from many forums here.
Bricks are only created when price moves in a direction by a set number of pips, in this case 5. I find it easier to spot support and resistance levels and it seems to work quite well with the system you've developed (I've only scrolled back a few weeks on Eur/Usd).
I just find it easier to read and may help traders who get a little confused when price is ranging.
You can download the script from many forums here.