I need a timer for Renko bricks

Hi,

I need to know how long it takes to build a Renko brick and the average for building of a certain No. of bricks.
May somebody help me to find/code an indicator which does this job?

Thank you very much

I think you may be missing the point here. The Renko bricks are designed to take time out of the equation, and so you trade based on price action only, irrespective of time.

Why then would you want to bring time back in?

Do you trade using renko chart?

Hi daherxdaher,

Yes, I trade Renko. Just love it, can't and won't ever go back to TF's. Been trading live renko for over 3 years (been at forex for over 5). As mentioned earlier, renko bars do not have time. Scroll over your bars and look at the opening times involved. Some bars are just minutes long , some are hours long. At news spikes a number of bars have the same time.

Renko bars are showing pips per brick. How long it takes to generate a brick, depends on how quickly the market is moving. I have seen it take 8 - 10 HOURS to form a 10 pip brick. On the flip side, on a news spike, 1 minute may generate 8- 9 bricks (80 - 90 points).

I suppose you could have an indi tell you how LONG it took to form a brick, in hours,minutes, seconds, but it serves no point as the next brick could be ten times as long or 10 times as short (timewise). You say you want to average multiple brick creation time, I don't see it. You can average multiple brick Hi/low (as in a really tightened up ATR), or some other averaging method.

Just my thoughts and opinion, from trading experience.

Hi gonzo2,

I appreciate sharing your experience, thx

After months of Renko experience I'm still trying to find the best brick size for each pair and I've thought if I get that range I could use different sizes per session and/or within a session. A good EA can do the rest.
As an expert, how do you trade, scalping or long term trading? and which brick sizes do you use?

Best regards